Which three elements are required in the statement of activities for non-profit organizations (NFP)?

The statement of activities for non-profit organizations (NFP) is designed to provide a summary of the revenues, expenses, and changes in net assets over a specific period. The correct emphasis is on the changes related to the financial transactions of the organization that contribute to its financial health and operational results.

The change in total assets is important as it reflects how the organization's resources have increased or decreased over the reporting period due to its activities. This is a key measure of the financial performance and can indicate whether the NFP is effectively generating revenue and managing its expenses. The statement of activities highlights how net assets have changed, which is vital for understanding the overall financial condition of the organization.

Focusing on changes in liabilities, revenue, or only expenses does not provide the full picture of how the organization's activities impact its resources and financial position. The analysis of total assets is integral, as it encompasses all resources controlled by the organization and is crucial for assessing its ability to sustain its activities and programs over time.