NOT FOR PROFIT ORGANISATION

Introduction

Meaning of Non-Profit Organisations

Characteristics of Not for Profit Organisation

Subscription

Life membership fees

Legacy

Endowment Fund

Grant

Receipt and Payment A/c

Income and Expenditure Account

Balance Sheet

CALULATION OF SUBSCRIPTION INCOME TO BE SHOWN IN INCOME SIDE OF INCOME AND EXPENDITURE ACCOUNT

Calculation of Amount Spent on consumable item

TREATMENT OF SPECIFIC FUND, It’s INVESTMENT, INCOME AND EXPENSES RELATED TO THEM

During the year 2007 a club received Rs1, 00,000 as entrance fees. According to accounting policy for the club 40% of the entrance fees is to be capitalised. How will you deal with entrance fees received by NPO?

Not-for-Profit organizations have some distinguishing features from that of profit organisations state any one of them.

Why depreciation on fixed assets is not recorded in Receipts and payment account?

What is Endowment fund?

Give two main sources of income of a Not for profit organization?

What do you mean by legacy? Give the Accounting treatment of it.

What is honorarium?