Accountancy: Not for Profit Organization (NPO)

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Financial Statements of Not For Profit Organization

Not-for-Profit Organisations are set up not for the profit motive but to serve the society.

As the motive is not to run any business; the Accounting procedure is quite different from that of a business concern. This heading “Financial Statements and Accounting of Not for Profit Organisations” is therefore a tricky and not-so-easy topic for the students as it comprises of numerous aspects.

This course is specially designed for the students who have this heading “Financial Statements and Accounting of Not for Profit Organisations” as a part of their syllabus. The course explains every aspect of the curriculum in depth and solves numericals based on them.

The course is a set of 6 lectures divided into two sections.

Section 1

Lecture 1: Introduction of Not-for-Profit Organisations and Receipts and Payments Account

Lecture 2: Income & Expenditure Account and classification of revenue & capital nature

Lecture 3: Fund Based Accounting and Balance Sheet

Lecture 4: Subscriptions

Lecture 5: Cost of goods consumed, expenses incurred, sale of old assets

Section 2

Lecture 6: Other important terms and Comprehensive numericals

Each lecture comprises of slides, videos explaining the content, solved and unsolved numericals (with solutions at the end), face interaction with the tutor, along-with attached MCQ paper and Worksheet.

By the end, the student should be able to take up any kind of numerical based on the heading ““Financial Statements and Accounting of Not for Profit Organisations”.

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