The sample statement of activities looks a bit unwieldy – is this the preferred format?
A. There are four applicable illustrations for this statement in Appendix C of GASB No. 34. The statement notes that the first exhibit (GASB B-1) illustrates the format that is suitable for most governments. The second illustration includes the column for the allocation of indirect expenses. This is optional and not required. The third illustration uses columns for the functions instead of rows, and is suitable for an entity that has few functions. The fourth illustration uses two pages and provides more space for reporting of greater detail. The format in the first illustration (GASB B-1) is used in the New Jersey sample statements. However, New Jersey districts have the option to use the allocation of indirect expenses format in the GASB B-2 illustration in the GASB No. 34 Appendix C.
