Write a short note on Not-for-profit organizations
Write a short note on Not-for-profit organizations?
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There are many organizations which do not exist mostly for the pursuit of gain yet generate management accounting information for the decision-making purposes. Illustrations of such organizations comprise charities, clubs & associations, universities, national and local govt authorities, churches & trades unions. Managers require accounting information regarding such types of organization to assist them to make decisions. The main objectives of not-for-profit organizations will not be concerned with the making of wealth for shareholders, however with making wealth for the organizations and efficiently applying that wealth in the direction of accomplishment of their mission.
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From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
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What are the Insurance premium in Arrears?
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