1 accountancy non trading organisation
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non-trading concern is also known as a non-profit making entity that receives donations and grants from the public and governemnt and uses them to serve the community. ... The management is responsible for the accounts of a non-trading concern and prepares a balance sheet and income and expenditure account at year end.
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Accounting for Non-Profit Organisations As we know that the not-for-profit organisations do not trade in goods or provide services with a profit motive. But, they also require to keep proper records of incomes, expenses, assets, and liabilities. Their major source of income is donations, subscriptions, grants, etc.
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