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Difference Between Receipts and Payments Account and Income and Expenditure Account: Learning Objectives: What is the difference between receipt and payment account and income and expenditure account? Receipts & Payment…
Income and Expenditure Account: Learning Objectives: Define and explain income and expenditure account. What is the purpose of preparing income and expenditure account? Example and format of Income and expenditure account…
Accounting for Non-Trading Concerns Definition and Explanation of Non-trading Concerns: Individuals or institutions with activities other than trade are known as non-trading concerns. Examples of non-trading concerns are clubs, hospitals,…
Final Accounts of Non-Trading Concerns: Non-trading concerns usually maintain their accounts by the double entry system and periodically prepare their final accounts for the submission to their members and subscribers.…
Abida Rehman 
Shamsa Rafique 
Sidra Farid 
Sana Ahmed