150x Filetype PPT File size 0.49 MB Source: accounting10.tripod.com
Preparation of Final Accounts Recap: What have we learnt ? Sole Partnership Proprietorship – (see sole – Trading & Profit & proprietorship) Loss Account – Profit & Loss & Appropriation A/c – Balance Sheet • Interest on drawings • Interest on capital • Salary • Share of profits – Balance Sheet • Capital A/c • Current A/c What do they have in common? They are business organisations: – involved in trading activities, ie. the buying & selling of goods or services – operate solely to make a profit for their owners Topic for Today … … Clubs & Societies Clubs & Societies Lesson Objectives At the end of the lesson, you should be able to: – state the difference between a trading and non-trading organisation – distinguish between the different accounts kept by a trading and non- trading organisation Non-Trading Organisations What are they? Clubs, societies and associations formed to cater and promote the sporting, cultural and recreational interests of its members. They are not formed with the purpose of making profits.
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