Accounting for Non-Profit

Accounting for Non-Profit

Introduction

A non-profit organisation is an organisation that is providing services to the people living in a society and against the services a certain amount is charged which is to complete the funds of the business and having no aim of earning profits. The common example of these organisations is hospitals, schools, charity organisations, libraries and etc. According to Mittal and Singal, (2009), the main objective of a non-profit organisation is to render services and not to earn the profits. A non-profit organisation in order to avoid any fraudulent and corruption maintains their books of accounts properly. An ...