Accounting for non-trading concerns
[Explanations]
Learning objectives:
- What are non-trading concerns and what is the purpose of their formation?
- How do non-trading concerns prepare their financial statements?
- What is a receipt and payment account? How is it prepared?
- What is an income and expenditure account? How is it prepared?
- How non-trading concerns prepare their balance sheet at the end of their accounting period.
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