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KNOWLEDGE CHECK

FASB financial accounting & reporting
Financial statement presentation

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* Which is true regarding an NFP’s statement of cash flows?

Cash flows from operating activities will exclude agency transactions.

A cash contribution that is restricted for a long-term purpose is presented as both a cash inflow and a cash outflow.

Cash flows from operating activities should be reported using the direct method.

The indirect method is required for NFPs.

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KNOWLEDGE CHECK

FASB financial accounting & reporting Financial statement presentation

FASB financial accounting & reporting Financial statement presentation

Check your knowledge on this topic

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FASB financial accounting & reporting
Financial statement presentation

FASB financial accounting & reporting
Financial statement presentation