Why do we not study clubs & societies under AAT?

That's an interesting question to which I don't really know the answer. I suspect it's because they aren't that different to any other company?

I suppose the most important thing to consider is the legal structure of the club. If it's a company limited by shares then I don't think its accounting is any different to any other limited company. I'm not sure if companies limited by guarantee would be the same from an accounting standpoint. (with the exception of how the company is wound up)