The compilation of these Accountancy Notes makes students exam preparation simpler and organised.
Accounting for Not-for-Profit Organisations
Not-for-profit organizations do not have a profit motive. So the accounting for such firms will vary from normal organizations. Here the final statements will not include a P&L Account but a Receipts and Payments Account. There are also some special transactions regarding subscriptions, donations, etc. Let us learn more about Accounting for Not-for-Profit Organisations.
- Meaning, Characteristics and Accounting Records for Not-for-Profit Organisations
- Receipt and Payment Account
- Income and Expenditure Account
- Balance Sheets