Fiduciary Funds Financial Statements

Free CPA BAR (Business Analysis & Reporting) lesson in State and Local Governments. 19 min read, ~2,805 words.

Four fiduciary fund types: pension (and other employee benefit) trust funds, investment trust funds, private-purpose trust funds, and custodial funds. Two required statements: Statement of Fiduciary Net Position (balance sheet equivalent) and Statement of Changes in Fiduciary Net Position (activity statement). Measurement focus: economic resources; basis of accounting: accrual, same...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Key Takeaways
• Exam Shortcuts

Learning objectives

• III.A4

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