ACC11 TERM 2 WEEK 4 – 7 Financial accounting of nonprofit organisations (clubs)

TOPIC – Financial accounting of nonprofit organisations (clubs)

Definition and explanation of accounting concepts unique to
nonprofit organisations (clubs):
• nonprofit organisations
• constitution
• accumulated fund
• membership fees
• entrance fees
• affiliation fees
• honorarium
• surplus
• deficit
Textbook
Constitutions of
clubs
Accounting
stationery
Accounting cycle for non-profit organisations (clubs):
• preparation of Analysis Cash Book
• posting to the Ledger (particularly accounts unique to nonprofit
organisations, viz. Accumulated Fund, membership fees,
entrance fees, stock accounts, e.g. refreshments, ties, rugby
jerseys)
• drafting of a Trial Balance
• preparation of Statement of Receipts and Payments
• understanding of differences between receipts & income and;
payments & expenses

Questions