Download the latest CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set 02 in PDF format. These Class 12 Accountancy revision notes are carefully designed by expert teachers to align with the 2026-27 syllabus. These notes are great daily learning and last minute exam preparation and they simplify complex topics and highlight important definitions for Class 12 students.
Revision Notes for Class 12 Accountancy Part 1 Chapter 1 Accounting for Not for Profit Organisation
To secure a higher rank, students should use these Class 12 Accountancy Part 1 Chapter 1 Accounting for Not for Profit Organisation notes for quick learning of important concepts. These exam-oriented summaries focus on difficult topics and high-weightage sections helpful in school tests and final examinations.
Part 1 Chapter 1 Accounting for Not for Profit Organisation Revision Notes for Class 12 Accountancy
UNIT-09
ACCOUNTING FOR NOT FOR PROFIT ORGANISATIONS
1. Meaning of NPO :-
Non profit organizations are those organizations which are established for a Social/Charitable/Cultural purpose & not for earning profit. They render services for the promotion of Art, Culture, Sports, Education & Healthcare etc.
2. Features of NPO :-
a) They are registered distinct entities b) They render services to the society at nominal charges c) Their basic motive is not profit earning but social service.
3. Final Accounts of NPO :-
They prepare the following financial statements at the end of the accounting period:-
1. Receipts & Payments A/c;
2. Income & Expenditure A/c;
3. Balance sheet.
4 Distinction between Receipts & Payments A/c & Income & Expenditure A/c
4. Calculation of Subscription to be credited to Income & Exp. A/c.
Note : - Taking the figure of subscriptions received from the Receipts & Payments a/c as the base, additions for subscription of the current year though outstanding and subtraction of the subscription of the past & future period should be done to arrive at the figure to be credited to Income & Expenditure a/c. It should be clearly kept in mind that only the subscription of the current year should be considered even if it is outstanding and the subscription of the past & future period even if received in the current year should be excluded.
Please click the link below to download pdf file for CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set B.
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CBSE Class 12 Accountancy Part 1 Chapter 1 Accounting for Not for Profit Organisation Notes
Students can use these Revision Notes for Part 1 Chapter 1 Accounting for Not for Profit Organisation to quickly understand all the main concepts. This study material has been prepared as per the latest CBSE syllabus for Class 12. Our teachers always suggest that Class 12 students read these notes regularly as they are focused on the most important topics that usually appear in school tests and final exams.
NCERT Based Part 1 Chapter 1 Accounting for Not for Profit Organisation Summary
Our expert team has used the official NCERT book for Class 12 Accountancy to design these notes. These are the notes that definitely you for your current academic year. After reading the chapter summary, you should also refer to our NCERT solutions for Class 12. Always compare your understanding with our teacher prepared answers as they will help you build a very strong base in Accountancy.
Part 1 Chapter 1 Accounting for Not for Profit Organisation Complete Revision and Practice
To prepare very well for y our exams, students should also solve the MCQ questions and practice worksheets provided on this page. These extra solved questions will help you to check if you have understood all the concepts of Part 1 Chapter 1 Accounting for Not for Profit Organisation. All study material on studiestoday.com is free and updated according to the latest Accountancy exam patterns. Using these revision notes daily will help you feel more confident and get better marks in your exams.
You can download the teacher prepared revision notes for CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set 02 from StudiesToday.com. These notes are designed as per 2025-26 academic session to help Class 12 students get the best study material for Accountancy.
Yes, our CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set 02 include 50% competency-based questions with focus on core logic, keyword definitions, and the practical application of Accountancy principles which is important for getting more marks in 2026 CBSE exams.
Yes, our CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set 02 provide a detailed, topic wise breakdown of the chapter. Fundamental definitions, complex numerical formulas and all topics of CBSE syllabus in Class 12 is covered.
These notes for Accountancy are organized into bullet points and easy-to-read charts. By using CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set 02, Class 12 students fast revise formulas, key definitions before the exams.
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