There are some special items which are used in the accounts of non-trading concerns or non-profit organizations. which are as under. 1. SUBSCRIPTIONS It is an amount paid by the members of non-trading concerns at regular intervals to keep their membership alive. It is the main and regular source of income of non-profit organizations. The …
In every society, some organizations or associations are found which are operated for the benefit of society. These organizations are established for some social, educational, religious or charitable purposes. Their aim is not to earn profit rather serve their members or a community or the entire population of a certain city or locality and sometimes the whole state or nation. These organizations are found in the form of clubs, societies and charitable bodies. Many government institutions also fall into this category, such as hospitals, schools, colleges and libraries etc.
Thus from the above discussion, we conceive that Non- Trading Concerns or Non-Profit Organizations are those organizations which are not engaged in profit-making activities. They are operated for the benefit of their members or the society as a whole. Such as Clubs, Libraries, Hospitals and Dispensaries etc