The simplicity is to due to two main reasons:
Although this may not appeal to majority of our clients it is important to know what is concerned with these types of accounts. Non- Profit Making organisations do not distribute its profits to owners or shareholders, but instead invests them towards meeting their goals. The preparation of these accounts are simple compared to a sole trader, a partnership or a limited company accounts.
The simplicity is to due to two main reasons:
In this type of organisation a treasurer/bookkeeper or an accountant of the club or society to keep track of the cash. Below are the type of activities which would be recorded.