AFA_Lec_6 - AdvancedFinancial Accounting FIN611...

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    Advanced Financial  Accounting FIN-611   Main Ahmad Farhan  Lecture-6 Non-Profit organizations 
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    Non-Profit Organizations  1. Which  is  maintaining  proper  books  of  accounts and follows double entry accounting  system. 2. Which  is  not  maintaining  proper  books  of  accounts  and  not  follow  double  entry  accounting system.   
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    Organizations that follows no proper Accounting system   Small Size Medium  Size
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    Library Receipt and payment Account  For the year ended 31 st  Dec, 2008   Receipts  Cash  Bank Payments  Cash  Bank  Opening balance Subscription received  Membership fee Donations  Loan received  Any other income     xxx xxx xxx xxx ---- xxx xxx xxx xxx xxx xxx Telephone bill Rent  Salaries  Entertainment  expenses Periodicals  Any other  expenses  Closing balance  xxx ---- xxx xxx xxx xxx xxx ---- xxx ---- ---- ---- xxx xxx xxx xxx xxx xxx
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    Preparation of Income Statement  1. Function of expense method  2. Nature of expense method 
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This note was uploaded on 05/15/2010 for the course ACCOUNTING B97702031 taught by Professor Lyz during the Spring '09 term at Punjab Engineering College.

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AFA_Lec_6 - AdvancedFinancial Accounting FIN611...

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