Preparation of Final Accounts
               Recap: What have we learnt ?
       Sole                        Partnership
        Proprietorship                – (see sole 
         – Trading & Profit &           proprietorship)
           Loss Account               – Profit & Loss & 
                                        Appropriation A/c
         – Balance Sheet                 • Interest on 
                                           drawings
                                         • Interest on capital
                                         • Salary
                                         • Share of profits
                                      – Balance Sheet
                                         • Capital A/c
                                         • Current A/c
          What do they have in 
                     common?
        They are business organisations:
           – involved in trading activities, ie. the 
             buying & selling of goods or services
           – operate solely to make a profit for 
             their owners
                                 
    Topic for Today … …
     Clubs & Societies
      Clubs & Societies
                               
         
            Lesson Objectives
     At the end of the lesson, you 
       should be able to:
       – state the difference between a 
         trading and non-trading organisation
       – distinguish between the different 
         accounts kept by a trading and non-
         trading organisation
                               
         
      Non-Trading Organisations
       What are they?
          Clubs, societies and associations
          formed to cater and promote
          the sporting, cultural and recreational 
           interests of its members.
     They are not formed with 
     the purpose of making 
     profits.