When you think of “not-for-profit,” you probably imagine charity organizations or clubs where money isn’t made but spent on good causes. In NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 2, students tackle the concept of accounting for such organizations. 🏥💕
Unlike businesses that aim to make profits, these organizations need to show how they manage donations and expenses. You’ll be dealing with documents like receipts, payments, income & expenditure accounts, and balance sheets. These accounts are a little like a treasure chest—you need to ensure every coin is accounted for. 🪙
What’s tricky is that there’s no profit motive here, but there’s a huge focus on accountability. No one wants to find out that a donation was mismanaged, right? Students will learn how to record revenue from donations and manage expenditures. It’s an accounting skill that could come in handy when you’re organizing your community service or event. 🎉
NCERT Solutions for Class 12 Accountancy Part 1 Chapter 1 Accounting for Not for Profit Organisation
NCERT Solutions for Class 12 Accountancy
Accountancy – Part 1
- NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 1: Accounting for Partnership – Basic Concepts
- NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 2: Accounting for Not-for-Profit Organisations
- NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 3: Reconstitution of a Partnership Firm – Admission of a Partner
- NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 4: Retirement/Death of a Partner
- NCERT Solutions for Class 12 Accountancy – Part 1 Chapter 5: Dissolution of a Partnership Firm
Accountancy – Part 2
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 1: Accounting for Share Capital
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 2: Issue and Redemption of Debentures
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 3: Financial Statements of a Company
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 4: Analysis of Financial Statements
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 5: Accounting Ratios
- NCERT Solutions for Class 12 Accountancy – Part 2 Chapter 6: Cash Flow Statement
