Analyse accounting system is a no profit organisation
Answers
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Explanation:
Usually, every business undertakes economic activities with a motive to earn a profit. But, there are some organisations which work with a motive to provide service to its members as well as to the general public. The trustees of these organisations are fully accountable to the members and the public. Hence, Accounting for Non Profit Organizations become necessary. Examples of such organisations are charitable institutions, religious organisations, clubs, educational institutions, trade unions, etc.
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Answer:
The use of accounting system has a strong effect on the financial activities of the organization. The accounting system should be adopted by a nonprofit organization to enhance the accountability and transparency of financial records and activities of organizations.