Section 1: 30–40%1B2
Statement of Activities (NFP)
The NFP statement of activities is the performance statement — it shows how net assets changed during the period. The exam tests classification of revenues and expenses, how restrictions are released, and the required functional expense presentation.
What AICPA Wants You to Know
- 1Describe the overall structure of the NFP statement of activities
- 2Classify revenues as with or without donor restrictions and explain how restrictions are released
- 3Distinguish between program services and supporting activities in expense presentation
- 4Apply the three required disclosures about liquidity and availability of resources
- 5Explain how investment returns are reported on the statement of activities