![]() Statement of Cash Flow: this is the equivalent of a for-profit entity's statement of cash flow.This information is distributed to the public to explain what proportion of company-wide expenses are related directly to the mission. The statement of functional expenses reports expenses by entity function (often broken into administrative, program, or fundraising expenses). Statement of Functional Expenses: this is specific to non-profit entities.This report tracks the changes in operation over time including the reporting of donations, grants, event revenue, and expenses to make everything happen. Statement of Activities: this is the equivalent of a for-profit entity's statement of income.The largest difference is nonprofit entities do not have equity positions any residual balances after all assets have been liquidated and liabilities have been satisfied are called "net assets" Statement of Financial Position: this is the equivalent of a for-profit entity's balance sheet.Trademarks, patents, goodwill, and other intangible assets can't physically be touched but have future economic (and often long-term benefits) for the company.These aren't used in operations they are simply held for capital appreciation. Investments are assets held for speculative future growth.This includes buildings used for manufacturing or heavy machinery used for processing raw materials. Property, plant, and equipment are capital assets owned by a company for its long-term benefit.These expenses are recorded as an asset because their value of them has not yet been recognized should the benefit not be recognized, the company would theoretically be due a refund. ![]() Prepaid expenses are costs that have been paid in advance of when they are due.Inventory may include finished goods, work in progress that is not yet finished, or raw materials on hand that have yet to be worked. Inventory is the goods a company has on hand, which are intended to be sold as a course of business.Accounts receivables are the amount of money owed to the company by its customers for the sale of its product and service. ![]()
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