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All not-for-profits are required to report functional expenses in either a separate statement or in disclosure notes. Functional expenses: A. Report on the net income
All not-for-profits are required to report functional expenses in either a separate statement or in disclosure notes. Functional expenses: A. Report on the net income of each program and the related direct and indirect expenses. B. Report on program expenses and supporting expenses. C. Report on the natural expenses (object-of-expense), as well as program and support functions expenses. D. Report on the cash flows of each program and that of supporting the programs.
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