According to gaap, all not-for-profit organizations are required to prepare
a statement of activities, a statement of functional expense, and a statement of cash flows prepared using accrual accounting.
a statement of activities, a balance sheet, and a statement of cash flows prepared using accrual accounting.
a statement of financial position, a statement of activities, a statement of cash flows and a statement of functional expenses prepared using accrual accounting.
a statement of cash flows, a statement of activities, and a statement of financial position prepared using either cash basis or accrual basis accounting.