Income and Expenditure Accounts

  • P. Stevens
Part of the Macmillan Work Out Series book series (MCWO)


An income and expenditure account is prepared for non-trading organisations such as clubs and societies in place of the profit and loss account which we prepare for trading organisations. Items of income and expenditure are shown on this account on the basis of expenses incurred and revenue earned, which means that we must adjust for accruals and prepayments in exactly the same way as we do for trading organisations in the profit and loss account.


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Copyright information

© P. Stevens 1987

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  • P. Stevens

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