Documenti di Didattica
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Organisation
Mobin Shaikh
Non-profit Entities
• It is a summary of ‘cashbook’.
• Primary report to show cash position
• All receipts and payments whether in cash or cheque are
shown as shown in cash book.
• All the receipts are debited (Capital or Revenue)
• All the payments are credited (Capital or Revenue)
• Starts with opening cash balance, ends with the closing
balance
• It is usually not a part of the double entry system.
Contd.
INFOCITY CLUB
Receipts and Payments Account for the year ended on 31.03.2015
Receipts Rs Payments Rs.
To Opening Balance By salaries ………………..
Cash …….. By electricity …………………
Bank …….. ……………….
To membership fees By rent …………………
2013-14 ……………… By purchase of investments ………………….
2014-15 ……………… By purchase of furniture …………………
2015-16 ……………… By Closing Balance
To Donations ………………. Cash ………
Bank ………. ……………………
2. Income and Expenditure Account
• Both cash and non cash items e.g. Depreciation are taken into
consideration
• Capital expenditures and incomes are excluded
• Only ‘current year’s income and expenses are considered here
Specimen of a Income and Expenditure
Account
INFOCITY CLUB
Income and Expenditure Account for the year ended on 31.03.2015
Receipts Rs Payments Rs.
To Salaries ……….. By subscriptions ………….
Add: O/s ……….. …………… Add: O/s …………
To Rent …………. Less: Paid in advance …………. ………………..
……………….
……………………
Specimen of Balance sheet (same principles
as B/S. of business firm)