Accounts of Non- Trading Organization

A non

A non-trading organization is formed to serve members or society rather than to earn profit. Clubs, libraries, orphanages, schools, colleges, charitab

This is a real account

This is a real account and a summary of cash and bank transactions during an accounting period. All receipts are shown on the debit side and all payme

This is a nominal account prepared

This is a nominal account prepared on accrual basis and on the matching principle. Only revenue income and revenue expenses of the current year are re

This is a statement drawn at

This is a statement drawn at a particular date to show the financial position of the organization. It presents assets, liabilities, and Capital Fund.

Capital Fund is the excess

Capital Fund is the excess of assets over liabilities in a non-trading organization. It includes capitalised receipts such as legacies, life membershi