Final Accounts of Clubs and Societies
Introduction.
Receipts and payments account
Calculation of the result of extra activities of a club or
society
Subscription Account
Income and expenditure account
Accumulated fund
Statement of financial position of a club or society
Cambridge O level
Accounting
7707
Introduction to Accounting
Business Entity Concept
Business point of view
Accounting Equation
Assets
Capital/ Equity
Liabilities
Double Entry System
Dual Effect Concept
A presentation outlining the reducing balance method for depreciation. This is a new skill required of VCE students in the new VCE Accounting Study Design and attempts to explain the concept in plain English.
Final Accounts of Clubs and Societies
Introduction.
Receipts and payments account
Calculation of the result of extra activities of a club or
society
Subscription Account
Income and expenditure account
Accumulated fund
Statement of financial position of a club or society
Cambridge O level
Accounting
7707
Introduction to Accounting
Business Entity Concept
Business point of view
Accounting Equation
Assets
Capital/ Equity
Liabilities
Double Entry System
Dual Effect Concept
A presentation outlining the reducing balance method for depreciation. This is a new skill required of VCE students in the new VCE Accounting Study Design and attempts to explain the concept in plain English.
clubs & societies : final accounts of non - profit organisationsSanjaya Jayasundara
Final accounts of clubs and societies, Receipts and payments account , subscription , income and expenditure account , life subscription calculation, accumulated fund , accrual concept, differences between receipts & payments account and income and expenditure account. Cambridge O Level (7110 ; 7707) past papers and model papers,
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
This presentation is based on the subject Financial Accounting which helps the beginners to know the basic concept of accounting . This is according to the syllabus of Pt. Ravishankar University , Raipur and Durg University, Durg.
Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
Clubs & societies cambridge a level tuition: Cambridge A Level Paper 3 No...Sanjaya Jayasundara
Candidates should be able to prepare fnancial statements for
‘not for proft’ organisations, including:
• a trading account
• an income and expenditure account
• a statement of financial position.
Clubs and socieities all theories , past papers model papers extra readings
its my first !
please #follow so that i will make more for all
it is according to class 12 syllabus ! hopefully it will weak students like me ! it contains all fundamentals of partnership firm.
it also usefull in xam times as revision notes!
for more just follow me !
fb@venuankush
class 12 / completeguide
Preparation of financial statements for a business which has not maintained proper records(Double Entry records)
Profit Equation method or Converting incomplete records to complete records.
Control account is an account which maintains in the general ledger to represent a particular subsidiary ledger. There are two control accounts. 1 Sales Ledger Control account 2 Purchases Ledger Control Account
When assets are being used, they fall in value. This fall in value is referred to as depreciation.
Depreciation is an expense this is why it is charged to the profit and Loss account and it reduces profit.
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
clubs & societies : final accounts of non - profit organisationsSanjaya Jayasundara
Final accounts of clubs and societies, Receipts and payments account , subscription , income and expenditure account , life subscription calculation, accumulated fund , accrual concept, differences between receipts & payments account and income and expenditure account. Cambridge O Level (7110 ; 7707) past papers and model papers,
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
This presentation is based on the subject Financial Accounting which helps the beginners to know the basic concept of accounting . This is according to the syllabus of Pt. Ravishankar University , Raipur and Durg University, Durg.
Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
Clubs & societies cambridge a level tuition: Cambridge A Level Paper 3 No...Sanjaya Jayasundara
Candidates should be able to prepare fnancial statements for
‘not for proft’ organisations, including:
• a trading account
• an income and expenditure account
• a statement of financial position.
Clubs and socieities all theories , past papers model papers extra readings
its my first !
please #follow so that i will make more for all
it is according to class 12 syllabus ! hopefully it will weak students like me ! it contains all fundamentals of partnership firm.
it also usefull in xam times as revision notes!
for more just follow me !
fb@venuankush
class 12 / completeguide
Preparation of financial statements for a business which has not maintained proper records(Double Entry records)
Profit Equation method or Converting incomplete records to complete records.
Control account is an account which maintains in the general ledger to represent a particular subsidiary ledger. There are two control accounts. 1 Sales Ledger Control account 2 Purchases Ledger Control Account
When assets are being used, they fall in value. This fall in value is referred to as depreciation.
Depreciation is an expense this is why it is charged to the profit and Loss account and it reduces profit.
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
Reducing Balance Method
Through this method, a fixed percentage is used, ie. 20% this percentage is charged to the cost in the first year to find depreciation, the depreciation calculated is deducted to the cost in the second or later years, the same percentage is charged but on the remaining balance, also called diminishing balance method
ACC 422 Final Exam Guide With EXCEL FILE seek Your Dream/snaptutorialdotcomapjk536
For more classes visit
www.snaptutorial.com
Multiple Choice Question 21
Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer?
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
ACC 422 Final Exam Guide With EXCEL FILE seek Your Dream/acc422martdotcomapjk538
For more classes visit
www.snaptutorial.com
Multiple Choice Question 21
Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer?
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
ACC 422 Final Exam Guide With EXCEL FILE seek Your Dream/uophelpdotcomapjk534
For more classes visit
www.uophelp.com
Multiple Choice Question 21
Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer?
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
ACC 422 Final Exam Guide Score 29-30 seek Your Dream/snaptutorialdotcomapjk536
For more classes visit
www.snaptutorial.com
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
$432,200
Sales revenue to February 10, 2017
ACC 422 Final Exam Guide Score 29-30 seek Your Dream/acc422martdotcomapjk538
For more classes visit
www.snaptutorial.com
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
$432,200
Sales revenue to February 10, 2017
ACC 422 Final Exam Guide Score 29-30 seek Your Dream/uophelpdotcomapjk533
For more classes visit
www.uophelp.com
Question 14
A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire.
Inventory, January 1, 2017
$432,200
Sales revenue to February 10, 2017
1,935,200
Meaning
Features of depreciation
Causes of depreciation
Need & importance of depreciation
Factors determining the amount of depreciation
Methods of allocating depreciation
Illustration
Exercise
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
2. Define the meaning of fixed assets
Calculate and record depreciation using
straight line method and diminishing balance
method
2
3. Fixed assets is an item with a useful-life of
greater than one reporting period
This items are not purchased with the intention
of resale, but rather to produce an income for
the business
3
7. Depreciation is the process of allocating the
cost of a fixed asset to expense in the
accounting period benefiting from its use.
Land and buildings does not depreciate
7
8. Straight line method
A certain percentage
of the cost price is
depreciated every
year
Diminishing balance
method
A Certain percentage
of the carrying value
is depreciated every
year
8
9. On 01 January 2017 D & M roofing contractors
purchased a machine with a cost price of 20
000, machinery are depreciated at 15% on the
straight line method.
Calculate depreciation for the reporting period
ended 31 December 2017 and process journal
entries.
9
10. Depreciation
20 000 x 15% x 12/12
=3 000
Journals
Dr depreciation 3 000
Cr accumulated depreciation: machinery 3 000
10
11. On 01 January 2017 D & M roofing contractors
purchased a machine with a cost price of 20
000, machinery are depreciated at 15% on the
diminishing balance method
Calculate depreciation for the reporting period
ended 31 December 2018
Process journal entries
11
12. Depreciation 31 December 2017
20 000 x 15% =3 000
Carrying value 31 December 2017
20 000 – 3 000 = 17 000
Depreciation 31 December 2018
17 000 x 15% = 2 550
12
13. Journal entries for the reporting period ended 31
December 2018
Dr depreciation 2 250
Cr accumulated depreciation: machinery 2 550
13
14. Tarek,A,E.(2015) fixed assets and depreciation
methods. Available from slideshare at
https://www.slideshare.net/TarekAElsherif/fixed-
assets-and-depreciation-methods (accessed 02
September 2018)
Shah, J. (2013) accounting for fixed assets (as 10).
Available from slideshare at
https://www.slideshare.net/JalajShah/accounting-
for-fixed-assests-as-10 (accessed 01 September 2018)
Narayan, S. (2017) fixed assets process. Available from
slideshare at
https://www.slideshare.net/SatishN3/fixed-asset-
process (accessed 02 September 2018)
14
15. Allison, M. (2016) 13.4A why is depreciation an
expense?. Available from slideshare at
https://www.slideshare.net/mjall3/134a-why-is-
depreciation-an-expense (accessed 29 August 2018)
Javeria, S. (2013) Depreciation. Available from
slideshare at
https://www.slideshare.net/MsJav91/depreciation-
16658656 ( accessed 02 September 2018)
Gupta, S. (2013) Depreciation. Available from
slideshare at
https://www.slideshare.net/sarthakgupta7/depreci
ation-16586362 (accessed 02 September 2018)
15
