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The standards for reporting financial information in this Subtopic, in combination with Subtopics 958-210, 958-220, and 958-230, focus on the content of financial statements, that is, on the basic information to be provided in financial statements by a not-for-profit entity (NFP). These Subtopics have the following objectives:
  1. a
    Require information that meets the objectives of financial reporting for NFPs
  2. b
    Define what constitutes a complete set of general-purpose financial statements for those entities
  3. c
    Require methods of reporting that information that are all of the following:
    1. 1
      Comprehensive
    2. 2
      Understandable
    3. 3
      Useful for decisions by present and potential resource providers
    4. 4
      Consistent with the conceptual framework.
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