FASB 117 Reports

Follow

These reports are only available if you have chosen to implement FASB 117. See the page on FASB 117 in the front of the manual for more information. In our experience, most churches will choose to not implement FASB 117.

There are three types of reports in the FASB 117 Report:

» Statement of Financial Position—The Statement of Financial Position is similar to the Balance Sheet, but should not be directly compared. Remember that Equity accounts are not calculated in any way on this report. Below is a break down of the report calculations.

» Statement of Activities—This is comparable in many ways to the Statement of Income and Expense Report.

» Statement of Cash Flows—This report is unique to FASB 117; the Finance module has no comparable report.

Please refer to the FASB 117 statement (available on the Financial Account Standards Board web site, listed in the chapter on FASB 117) for details on how these three reports are used.

  1. Find this report by going to “Reports” in the menu bar and selecting “FASB 117 Reports.”
  2. Start by choosing the type of report you want.
  3. Next pick the Level of Detail.
  4. Now choose the month you want in the As Of field.
  5. Finally, choose either of the two other options you may want.
  6. Click Preview to view the report or click Print to send the report directly to the printer.

 

5.10.10_-_FASB_1117_Reports.png

0 out of 0 found this helpful

Comments

0 comments

Please sign in to leave a comment.