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1、Statement of Financial Accounting Concepts No.117 Statement of Financial Accounting Standards No. 117 FAS117 Status Page FAS117 Summary Financial Statements of Not-for-Profit Organizations June 1993 Financial Accounting Standards Board of the Financial Accounting Foundation 8401 MERRITT 7, P.O. BOX
2、5116, NORWALK, CONNECTICUT 06856-5116 Copyright ? 1993 by Financial Accounting Standards Board. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise
3、, without the prior written permission of the Financial Accounting Standards Board. Page 2Statement of Financial Accounting Standards No. 117Financial Statements of Not-for-Profit OrganizationsJune 1993CONTENTSParagraphNumbersIntroduction.1 3Standards of Financial Accounting and Reporting:Purpose of
4、 a Set of Financial Statements.4 5Scope.6 8Statement of Financial Position.9 16Purpose and Focus of a Statement of Financial Position.9 10Classification of Assets and Liabilities.11 12Classification of Net Assets as Donor Restricted or Unrestricted.13 16Statement of Activities.17 28Purpose and Focus
5、 of a Statement of Activities.17 18Changes in Classes of Net Assets.19Classification of Revenues, Expenses, Gains, and Losses.20 23Information about Gross Amounts of Revenues and Expenses.24 25Information about an Organizations Service Efforts.26 28Statement of Cash Flows.29 30Purpose of a Statement
6、 of Cash Flows.29Amendments to Statement 95.30Effective Date and Transition.31Appendix A: Background Information.32 36Appendix B: Basis for Conclusions.37 152Appendix C: Illustrative Examples.153 167Appendix D: Glossary.168Page 3FAS 117: Financial Statements of Not-for-Profit OrganizationsFAS 117 Su
7、mmary This Statement establishes standards for general-purpose external financial statementsprovided by a not-for-profit organization. Its objective is to enhance the relevance,understandability, and comparability of financial statements issued by those organizations. Itrequires that those financial
8、 statements provide certain basic information that focuses on theentity as a whole and meets the common needs of external users of those statements. This Statement requires that all not-for-profit organizations provide a statement offinancial position, a statement of activities, and a statement of c
9、ash flows. It requires reportingamounts for the organizations total assets, liabilities, and net assets in a statement of financialposition; reporting the change in an organizations net assets in a statement of activities; andreporting the change in its cash and cash equivalents in a statement of ca
10、sh flows. This Statement also requires classification of an organizations net assets and itsrevenues, expenses, gains, and losses based on the existence or absence of donor-imposedrestrictions. It requires that the amounts for each of three classes of net assetspermanentlyrestricted, temporarily res
11、tricted, and unrestrictedbe displayed in a statement of financialposition and that the amounts of change in each of those classes of net assets be displayed in astatement of activities. This Statement amends FASB Statement No. 95, Statement of Cash Flows, to extend itsprovisions to not-for-profit or
12、ganizations and to expand its description of cash flows fromfinancing activities to include certain donor-restricted cash that must be used for long-termpurposes. It also requires that voluntary health and welfare organizations provide a statement offunctional expenses that reports expenses by both
13、functional and natural classifications. This Statement is effective for annual financial statements issued for fiscal yearsbeginning after December 15, 1994, except for organizations with less than $5 million in totalassets and less than $1 million in annual expenses. For those organizations, the St
14、atement iseffective for fiscal years beginning after December 15, 1995. Earlier application is encouraged.Copyright ? 1993, Financial Accounting Standards Board Not for redistributionPage 4INTRODUCTION1. This Statement establishes standards for general-purpose external financial statements1provided
15、by a not-for-profit organization. It specifies that those statements include astatement of financial position, a statement of activities, and a statement of cash flows. ThisStatement also amends FASB Statement No. 95, Statement of Cash Flows, to extend itsprovisions to not-for-profit organizations.
16、It also specifies that voluntary health and welfareorganizations continue to provide a statement of functional expenses, which is useful inassociating expenses with service efforts and accomplishments of not-for-profit organizations.2. Not-for-profit organizations currently provide financial stateme
17、nts that differ in their formand content. For example, most hospitals, trade associations, and membership organizationsprovide a statement of financial position and a statement of activities (or statement of revenuesand expenses) that report their financial position and results of operations for the
18、 entity as awhole. In contrast, universities, museums, religious organizations, and certain othernot-for-profit loose organizations often provide financial statements that report the financialposition and changes in financial position of individual fund groups, but many do not reportfinancial positi
19、on and results of operations for the entity as a whole. Recently, somenot-for-profit organizations have begun reporting cash flow information, but most do not.Further, voluntary health and welfare organizations and certain other charitable organizationsgenerally provide a statement that reports expe
20、nses by functional classification and by naturalclassification, but most other not-for-profit organizations do not.3. This Statement is part of a project that has been considering those and other inconsistentpractices of not-for-profit organizations, including accounting and reporting principles and
21、practices that are incorporated in several of the audit Guides of the American Institute ofCertified Public Accountants (Appendix A). Because this Statement now establishes standardsfor reporting certain basic information in financial statements that are applicable to allnot-for-profit organizations
22、, provisions in AICPA Guides and Statements of Position that are2inconsistent with this Statement are no longer acceptable specialized accounting and reportingprinciples and practices. Within the parameters of this Statement, the AICPA or anotherappropriate body, following the process described in A
23、ICPA Statement on Auditing Standards(SAS) No. 69, The Meaning of ;Present Fairly in Conformity With Generally AcceptedAccounting Principles; in the Independent Auditors Report, may provide more specificreporting guidance for certain not-for-profit organizations.Copyright ? 1993, Financial Accounting
24、 Standards Board Not for redistributionPage 5STANDARDS OF FINANCIAL ACCOUNTING AND REPORTINGPurpose of a Set of Financial Statements4. The primary purpose of financial statements is to provide relevant information to meet thecommon interests of donors, members, creditors, and others who provide reso
25、urces tonot-for-profit organizations. Those external users of financial statements have common interestsin assessing (a) the services an organization provides and its ability to continue to provide thoseservices and (b) how managers discharge their stewardship responsibilities and other aspects ofth
26、eir performance.5. More specifically, the purpose of financial statements, including accompanying notes, is toprovide information about:a. T he amount and nature of an organizations assets, liabilities, and net assetsb. T he effects of transactions and other events and circumstances that change the
27、amount andnature of net assetsc. T he amount and kinds of inflows and outflows of economic resources during a period andthe relation between the inflows and outflowsd. H ow an organization obtains and spends cash, its borrowing and repayment of borrowing,and other factors that may affect its liquidi
28、tye. T he service efforts of an organization.Individual financial statements provide different information, and the information each statementprovides generally complements information in other financial statements.Scope6. A complete set of financial statements of a not-for-profit organization shall
29、 include astatement of financial position as of the end of the reporting period, a statement of activities anda statement of cash flows for the reporting period, and accompanying notes to financialstatements.7. This Statement specifies certain basic information to be reported in financial statements
30、 ofnot-for-profit organizations. Its requirements generally are no more stringent than requirementsfor business enterprises. A set of financial statements includes, either in the body of financialstatements or in the accompanying notes, that information required by generally acceptedaccounting princ
31、iples that do not specifically exempt not-for-profit organizations and required byapplicable specialized accounting and reporting principles and practices. For example,Copyright ? 1993, Financial Accounting Standards Board Not for redistributionPage 6not-for-profit organizations should apply the dis
32、closure and display provisions for financialinstruments; loss contingencies; extraordinary, unusual, and infrequently occurring events; andaccounting changes.8. This Statement discusses how to report assets, liabilities, net assets, revenues, expenses,gains, and losses in financial statements; howev
33、er, it does not specify when to recognize or howto measure those elements. The degree of aggregation and order of presentation of items ofassets and liabilities in statements of financial position or of items of revenues and expenses instatements of activities of not-for-profit organizations, althou
34、gh not specified by this Statement,generally should be similar to those required or permitted for business enterprises. Appendix Cincludes financial statements that illustrate some of the ways that the requirements of thisStatement may be met.Statement of Financial PositionPurpose and Focus of a Sta
35、tement of Financial Position9. The primary purpose of a statement of financial position is to provide relevant informationabout an organizations assets, liabilities, and net assets and about their relationships to eachother at a moment in time. The information provided in a statement of financial po
36、sition, usedwith related disclosures and information in other financial statements, helps donors, members,creditors, and others to assess (a) the organizations ability to continue to provide services and3(b) the organizations liquidity, financial flexibility, ability to meet obligations, and needs f
37、orexternal financing.10. A statement of financial position shall focus on the organization as a whole and shallreport the amounts of its total assets, liabilities, and net assets.Classification of Assets and Liabilities11. A statement of financial position, including accompanying notes to financial
38、statements,provides relevant information about liquidity, financial flexibility, and the interrelationship of anorganizations assets and liabilities. That information generally is provided by aggregating assetsand liabilities that possess similar characteristics into reasonably homogeneous groups. F
39、orexample, entities generally report individual items of assets in homogeneous groups, such ascash and cash equivalents; accounts and notes receivable from patients, students, members, andother recipients of services; inventories of materials and supplies; deposits and prepayments forrent, insurance
40、, and other services; marketable securities and other investment assets held forlong-term purposes; and land, buildings, equipment, and other long-lived assets used to providegoods and services. Cash or other assets received with a donor-imposed restriction that limitstheir use to long-term purposes
41、 should not be classified with cash or other assets that are4unrestricted and available for current use.Copyright ? 1993, Financial Accounting Standards Board Not for redistributionPage 712. Information about liquidity shall be provided by one or more of the following:a. S equencing assets according
42、 to their nearness of conversion to cash and sequencingliabilities according to the nearness of their maturity and resulting use of cashb. C lassifying assets and liabilities as current and noncurrent, as defined by AccountingResearch Bulletin No. 43, Chapter 3A, ;Working CapitalCurrent Assets and CurrentLiabilities;c. D isclosing in notes to financial statements relevant information about the liquidity ormaturity of assets and liabilities, including restrictions on the use of particular assets.Classif