V Accounting in Not – for - Profit Organisation

(1) Meaning of Not for Profit organisation.

(2) Difference between Not for Profit organisation and Business organisation
(3) Meaning and feature or characteristics of Rec. and pay.A/c
(4) Need or object of bookkeeping to Not-for -profit organisation
(5) Difference between Receipt/ payment A/c and cash A/c (practical Quation)
(6) Meaning and feature or characteristics of income and Expenditure A/c
(7) Difference between Receipts/ payment A/c and Income/, Expenditure A/c
There are Two types of bushiness organisation
1. Not for profit organisation:-
(A) The Main purpose of not for profit organisation is to provide the Services.
(B) Doctor, lawyer, teacher ,club Engineer etc are included in Not for profit
organisations.
(C) The following accounts are created by Non for profit organisations.
(1) Receipt and payment A/c (2) Income and Expenditure A/c (3) Balance sheet

(D) Capital fund created by these

(E) surplus or Deficiency in Return or Consideration

2. Business organisation:-
(A) The Main purpose of Business organisation is to make proft
(B) Sole trader, partnership firm, company are included in Business organisations.
(C) The following accounts are created by busines organisation
(1) Trial balance (2) Trading and P/L A/c (3) Balance sheet

(D)Capital A/c made by these.

(E) Profit or loss in Return or Consideration.

(Proforma of Receipts and payment A/c and Income and Expenditure A/c (

Feature or characteristics or meaning of receipt and payment account:-

1. Receipt and payment account is prepared from cash book. (summary of cash book)
2. In It only cash transaction are written.
3. Cash Receipt are shown in the debit side.(of rec.and pay a/c )
4. Cash payment are shown in the credit side. (of rec.and pay a/c )
5. All Receipt and payment of previous year, current year and next year are shown in this
account
6. No adjustment are made in this account.
7. It is a real account

Feature or characteristics or meaning or Difference of income and Expenditure account:-

1. Income and Expenditure A/c Is Prepared from received and payment account.
2. In It all cash and non cash transaction are wrritn .
3. All Expenses are shown on the debit side.(of inc.and exp.a/c)
4. All Income are shown on the credit side. (of inc.and exp.a/c)
5. All Income and Expenses of current year are shown in this amount.
6. Adjustment are made in this account. (7) It is a nominal account.
 The expenses whose benefit has been received in the current year but payment has
not been made are called as 'Outstanding Expenses' or unpaid expenses
जिन खखखखखख खख खखख खखखख खखखख खखख खखखखखखख खखखख खखख खख,
खखखखख खखखखखख खखखख खखखख खखख खख, खखखखखख खखख खखखख है
The expenses which are paid in the current year but they are related
to
next accounting year such expenses are called 'Prepaid Expenses'.
The income which are received in the current year but they are
related to
next accounting year such income are called advance income.

वे खखखख खख खखखख खखखख खखख खखखखखख खखख खख खखख, खखखखख खख

खखखखखखख खखख
खखखख खखखख खखखख खखख खखख खखखखखख खख 'खखखखखखख खखखख' खखख
खखखख खखख

incomes earned in current year but not received till the end of the
year. This incomes are called as accrued income.

खखखखखखख खखखख खखख खख खखखखखख खख खख खखखखख खखखख खख खखख खख

खखखखखखख खखखख खखखख खख खख खख खखखखखख खख खखख खखखख खखख
खOutstanding expenses: There are expenses which are incurred

but have not been paid so far.

It is called outstanding expenses.
 Accrued income: These income which have been earned
but have not been received.
it is called accrued income.
 Prepaid expenses: These are expenses which have been paid this year

but are related to the next accounting year.

It is called prepaid expenses.

 Advance income:. Income related to next accounting year
but have been received in current year.
it is called advance income.

Fund : (1)Donation Fund (2) Match Fund (3)Tournament Fund (4) Sports Fund(5) prize fund

Used : (1) Stationery used(2) Medicines used(3)Sports Material used (4) postage material used,

(5) Refreshment material used

1 सबसे पहले चैप्टर के मे न टॉजपक के नाम बोर्ड पर जलखें गे
2 कोटे शन वाला पैराग्राफ
Do your work
your self
Be Independent.
अपना काम खु द से करें स्वतंत्र रहे L
आप लोगोों ने एक कहावत सु नी होगी अगर आपको तै रना सीखना है तो पानी में खु द
कूदना पडे गा ककतनी ही ककताबें आप उससे ररलेटेड पढ़ ले l जब खुद पानी में नही ों
कूदोगे तब तक आप को तै रना नही ों आएगा यह चीज की गारों टी दी जा सकती है यह
फैक्ट है
इों कडया से कई लोग सोचते हैं कक तु म मरो और मुझे स्वगग कमले को समझानाl कक
यकद आप लाइफ में सक्से स होना चाहते हैं वह भी अच्छे से सबसे सक्से स होना तो
उसके जलए आपको अपने कंफटड िोन से बाहर आना ही होगा अपने कंफटड िोन से
बाहर आकर िो भी जकसी एग्जाम को क्लियर करने की ररक्वायरमें ट है उसे फोकस
करना ही होगा चाहे आप ककसी भी एग्जाम की तै यारी कर रहे हो आपको उसके नोट् स
शॉटग नोट् स बनाना ही होोंगे नोट मेककोंग करनी ही होगी चाहे वह कोई भी एग्जाम हम दे
रहे हो
नोट् स बनाने में आदमी सोचता है कक बहुत ज्यादा समय बबाग द हो जाता है जबकक समय
बबाग द नही ों होता टाइम की बचत होती है हम हमारे अनु सार शॉटग नोट बनाएों ताकक
एग्जाम में कम समय में पूरी बु क ररवीजन सके ककताब में से हम जब नोट बनाते हैं तो
80% वर्ल्ग कनेक्क्टों ग वर्ग होते हैं जो 1 शब्ोों को दू सरे शब्ोों से जोडने का काम करते
हैं 20,,% key word होते हैं जो हम शॉटग नोट बनाएों तो उसमें से key word उठाकर
शॉटग नोट बनाएों कजसके माध्यम से हम कनेक्क्टों ग वाडग के साथ जोडकर कहानी बना
सकते हैं
3)10 कदन वाला स्लोगन l
4) step by step topic के नाम के अनुसार समझाना शुरू

Unit 1
Introduction to Accounting

1. History of Accounting.
2. Terminology of Accounting.
3. Meaning, characteristics and object of Accounting.
4. Difference between book-keeping and Accounting.
5. Accounting : is science or an art or both?
6. User of Accounting.
7. Qualitative characteristics of Accounting.
8. Need or Advantage or Importance or Utility of Accounting.
9. Limitations of accounting.
10. Branch of Accounting.
11. Difference between Trade Discount and cash Discount.
 Unit 2

Theory Base Accounting

1. GAAP (Generally Accepted Accounting Principles)

2. Significance or Advantage of Accounting
3. Basic Accounting concepts Or Principles
4. Meaning of Accounting standard method
5. Accounting System
6. Meaning and Characteristics of Double Entry System
7. Principals of Double Entry Systemनया प्रणाली प्रकृजत के जिया प्रजतजिया (
action reaction) के उस जवश्व प्रजसद्ध जसद्धां त पर आधाररत है जिसका प्रजतपादन
महान वैज्ञाजनक सर आइिे क न्यू टन ने जकया था | इस जसद्धां त के अनुसार
प्रत्येक हलचल दो प्रभाव पैदा करती है िो एक दू सरे के जबल्कुल जवपरीत होते
हैं | िैसे नाव से जकनारे पर कूदना पहला प्रभाव नाव का पीछे िाना दू सरा
प्रभाव व्यक्लि का आगे आना| पंछी का र्ाल पर से उड़ना पहला प्रभाव र्ाल
का नीचे झुकना दू सरा प्रभाव पक्षी का ऊपर उड़ना| गेंद का दीवार से
टकराकर वापस आना आजद| व्यापार में होने वाला प्रत्येक ले नदे न व्यापाररक
हलचल कहलाता है तथा अपने आप में दो प्रभाव जलए हुए हैं िो जक एक दू सरे
के जबल्कुल जवपरीत है िैसे माल खरीदना पहला प्रभाव माल आया, दू सरा
प्रभाव रुपया गया,| माल बे चनाबे चना- पहला प्रभाव रुपया आया दू सरा प्रभाव
माल गया| बैं क में रुपया िमा जकया- पहला प्रभाव पुिारी से रुपया कम हुआ
दू सरा प्रभाव बैं क में रुपया बड़ा|
8. दोहरा ले खा प्रणाली के बारे में सकता है प्रत्येक र्े जबट का समान िेजर्ट
जवपरीत जदशा में
9. होता है (For every debit there is equal and opposite cradit)
10. Stages of Accounting of Double Entry System
11. Merit or Advantage or Importance orobject of Double Entry System
12. Disadvantages aur limitations of of Double Entry System
13. Base of Accounting.

5 Journal
1. Meaning of Journal

(journal सों पूर्ग लेखा चक्र का प्रारों कभक कबों दु है या लेखाों कन के कवकभन्न चरर्ोों में प्रथम चरर् है इसमें व्यापार
में होने वाले प्रत्येक सौदे को कतकथ वार कलखा जाता है एक कदन में होने वाले तमाम सोदो को उसी
कतकथ में क्रमानुसार कलखा जाता है प्रत्येक व्यवहार के कलए एक प्रकवकि की जाती है कजसमें उस सौदे से
प्रभावी होने वाले खातोों का उल्लेख ककया जाता है जनग ल शब् की उत्पकि फ्रेंच भाषा (कुछ कवद्वानोों के
अनुसार फारसी भाषा है ) के शब् jour से हुईहै कजसका अथग है कदन अतः जनग ल शब् का अथग हुआ
दै कनक डायरी दै कनक बकहया, दै कनक पोंजी, नक़ल बही, रोजनामचा, रोजमेल और पोंजी आकद सभी
नामोों से पुकारा जाता है )

The journal is the starting point of the entire accounting cycle or the first
step in the various stages of accounting. Every transaction in business is
written in the date wise. All transaction in one day are written in sequence
in the same date. The entry is made in which accounts that are effective
from that deal are mentioned. The word originated from the words of the
French language Has been jour meaning day thus Journal words meant
 daily diary daily Bahia, called the daily register, copy books, journals,
Rojmel and register etc all names.

2. Need or object or importance or advantage of Journal

3. Meaning of combined Entry
4. Purchase A/C credit in the following situations:
5. Drawing account debit in ,the following situations:
A. Paid income tax
B. Goods drawn for personal use
C. Gifted to the wife
D. Children's school fees paid
E. withdraw for household expenses

Unit 3
Accounting vouchers.
1. Meaning of sources Documents.
2. Commonly used sources Documents.
3. Meaning of voucher.
4. Difference between sources Documents and voucher.
5. Types of vouchers.
6. Debit Notes and credit Notes.

Chapter 1

Accounting for partnership

1. Need of partnership
(Limited Capital, Limited area Pharma Limited management
capacity, unlimited liabilities)
2. Meaning, definition and characteristics of partnership
(legal business, legal agreement, profit object , division profit,
Number of person ,unlimited liabilities, running of partnership)
3. Main terms of partnership deed
 (partnership deed is a agreement partner इसमें Rights
अजधकार,Responsibility (कतडव्य) liabilities दाजयत्व Rules and
Regulation को जलया िाता है (name of former interest on capital
interest on drawing salary share of profit e tc.)
4. Rules applicable in absence of partnership deed
5. Meaning of p/L appropriation account (profarma)
6. Difference between p/L and p /L appropriation account
7. Partners capital account (profarma)
8. Difference between fixed capital method and fluctuating capital
method
Working Notes-
1. In absence of agreement profit between the partner will be
distribution according to Indian Partnership Act 1932. profit
will be distributed among the partner equally.
2. In absence of agreement 6% per annum interest on loan will be
given to partner.
3. Interest on capital and any remuneration will not allowed.

Reconstitution of partnership
1. Condition of reconstitution
2. Meaningfference between of sacrificing ratio and
gaining ratio
3. Meaning and characteristics of goodwill