Question

Introduction about Accountings of not -for profit organisations

Answer 1

A non profit organization is an organization established today meet some socially desirable goods or to render services to its members without the aim of earning profits from its activities

Answer 2

Answer:

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.