What is General purpose financial statement (GPFS) ?
General purpose financial statement (GPFS) meaning Financial statements issued to parties outside the management of an institution. These are provided to creditors, donors, public officials outside the institution, and other external parties. GPFS differ from internal management financial reports, although GPFS may also be of use to board members and officials of the institution. The audit opinion is issued on the GPFS.
reference: IPEDS Data Collectrion System – Glossary