AccountingCode 7707
Clubs and societies
What this topic asks you to be able to do
- the method for drawing up receipts and payments accounts
- the way of compiling accounts covering revenue-generating activities, e.g. refreshments, subscriptions
- the procedure for drawing up income and expenditure accounts together with statements of financial position
- how to adjust financial statements in the ways set out in 5.1 (sole traders)
- the way to define and work out the accumulated fund