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Financial Accounting by R. Lalitha, V. Rajasekaran

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Chapter 6

Accounting for Not-for-Profit Organisations

LEARNING OBJECTIVES

After studying this chapter, you will be able to

  1. Understand the Meaning and the Salient Features of Not-for-Profit Organisations (NPO)

  2. Understand the Meaning and Features of Receipts and Payments Account

  3. Prepare Receipts and Payments Account

  4. Understand the Meaning and Main Features of Income and Expenditure Account

  5. Distinguish Between a Receipt and Payments Account and an Income and Expenditure Account

  6. Understand the Accounting Treatment of Special Items in the Preparation of Income and Expenditure Account

  7. Prepare Income and Expenditure Account from the Given Receipts and Payments Account

  8. Prepare Opening Balance Sheet and Closing Balance Sheet from the Given Receipts ...

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