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Explain the term- Not-for-profit organisations
There are many organisations that don't exist mainly for the pursuit of profit. Instance include:
?charities
?clubs and associations
?universities
?local government authorities
?national government departments
?churches
?trade unions.
Such organisations also need to produce accounting information for decision making purposes. Different user groups need accounting information about these kinds of organisation to help them to make decisions. These groups are often the same as, or similar to, those recognized for private-sector businesses. They may have a stake in future viability of organisation and may use accounting information to check that wealth of the organisation is being properly controlled and employed in a way which is consistent with its objectives.
economic substance as in recognition of revenue
Juniper Ltd is a listed diversified company. In preparing its financial statements in accordance with AASB 8, the chief operating officer has identified three operating segments:
the salaries paid in 2004 is rs. 500000 salaries outstanding is rs.20000 salaries paid in advance for 2004 is rs 30000 what is the actual salary expenditure for 2004?
American Institute of Certified Public Accountants (AICPA) - National professionalmembership organization which represents practicing CERTIFIED PUBLIC ACCOUNTANTS(CPAs). AICPA esta
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who to prepar a financial statement
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