Fiduciary Funds Financial Statements

Free CPA BAR (Business Analysis & Reporting) lesson in State and Local Governments. 19 min read, ~2,896 words.

Four fiduciary fund types: pension (and OPEB) trust, investment trust, private-purpose trust, and custodial funds; only custodial funds require no formal trust agreement. Two required statements: Statement of Fiduciary Net Position (balance sheet equivalent) and Statement of Changes in Fiduciary Net Position (activity statement). Measurement focus is economic resources and...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• III.A4

Browse all free CPA BAR lessons or jump into free CPA BAR practice questions.