AccountingCode 9706
Clubs and societies
What this topic asks you to be able to do
- how receipts and payments accounts differ from income and expenditure accounts
- how to define the accumulated fund and work out its value
- working from records that are either full or incomplete, how to produce: a receipts and payments account; an account for each trading or revenue-generating activity; a subscriptions account; an income and expenditure account; a statement of financial position
- how to deal with other kinds of receipt in the accounts, including life memberships and donations
- how to adjust financial statements in the ways set out in 1.5.1
- how to assess the sources of finance and the fundraising methods that could be used