Association Accounts
System
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As a new MIP I have just gained my first client,a relitively new (less than 1 yr old)Association.
When I was studying for AAT we were told that although clubs and societies etc were originally part of the syllabus they had been removed so we didn't learn any thing about them.
I just need to know if there is anything different with regard to the end of year accounts for presentation to the committee?
TVM
:roll:
When I was studying for AAT we were told that although clubs and societies etc were originally part of the syllabus they had been removed so we didn't learn any thing about them.
I just need to know if there is anything different with regard to the end of year accounts for presentation to the committee?
TVM
:roll:
0
Comments
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Re:Association Accounts
Basically they are the same but if they are a not-profit association then the P&L is normally called income and expenditure and the profit is "surplus of expenditure over income" or vice versa if it is a loss.
Hope this helps.
Claudia
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Re:Association Accounts
Thanks for that claudia0