Category: Accountancy Class 12

A company prepares a Balance Sheet at the end of the accounting year to ascertain the financial position of the business. Even though a not-for-profit

Guarantee of Profit to a Partner – When a new partner is admitted to the partnership firm, he/she becomes eligible to share the profits earned

Past Adjustments – While preparing the books of accounts of any partnership firm, a lot of attention is given to the fact that there are

Reconstitution of a Partnership firm means change in the existing agreement leading to the formation of a new agreement with certain variations. Reconstitution implies rearrangement

Not-for-Profit organisations are established to for the welfare of the society and not with the motive of earning any profits. But this does not mean

What is Ratio Analysis? Ratio Analysis – Ratios are a mathematical tool that helps in defining the relationship between two figures. The analysis and interpretation

Ratio Analysis is one of the indispensable tools used to interpret the financial statements of a company. It yields such results which help in easy

The Receipt and Payment account notes is a summarised form of presenting the receipts and payments made by a non-trading concern or a non-profit organisation.

Not for profit Organisation, are those organizations, that are established to work for the benefit of the society, or for promoting art and culture. Their

Just like a business concern prepares a Profit and Loss account at year-end to summarize the incomes and expenses, a not-for-profit organization prepares an Income

Meaning of Share: When the total capacity of a company is divided into smaller units, then each smaller unit is known as Share. A share