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    oped for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting sh

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    The nature of this type of enterprise implies that any increase in net assets arising from the activities of the undertaking must be applied to improve the community services rendered by the specific organisation. The increase in the net assets of the entity does not accrue to the persons supporting the organisation (e.g. the members).

    Depending on the type of undertaking, equity is usually furnished by grants from state or authorities, donations or membership fees. These contributions to equity do not confer the same rights as contributions to the equity of a limited company confer on shareholders and therefore, different accounting practises apply to these enterprises.

    Bearing in mind the typical characteristics of a non-profit organisation, the question arises which particular requirements of accounting systems and financial reporting procedures apply to this particular type of organisation. The financial accounting must provide economically interested groups with a comprehensive review of what the particular organisation achieved during a specific period or at the end of its financial accounting year. The accounting records and system developed for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting sho

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    porting the organisation (e.g. the members).

    Depending on the type of undertaking, equity is usually furnished by grants from state or authorities, donations or membership fees. These contributions to equity do not confer the same rights as contributions to the equity of a limited company confer on shareholders and therefore, different accounting practises apply to these enterprises.

    Bearing in mind the typical characteristics of a non-profit organisation, the question arises which particular requirements of accounting systems and financial reporting procedures apply to this particular type of organisation. The financial accounting must provide economically interested groups with a comprehensive review of what the particular organisation achieved during a specific period or at the end of its financial accounting year. The accounting records and system developed for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting sh

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    ny confer on shareholders and therefore, different accounting practises apply to these enterprises.

    Bearing in mind the typical characteristics of a non-profit organisation, the question arises which particular requirements of accounting systems and financial reporting procedures apply to this particular type of organisation. The financial accounting must provide economically interested groups with a comprehensive review of what the particular organisation achieved during a specific period or at the end of its financial accounting year. The accounting records and system developed for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting sh

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    this particular type of organisation. The financial accounting must provide economically interested groups with a comprehensive review of what the particular organisation achieved during a specific period or at the end of its financial accounting year. The accounting records and system developed for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting sh

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    oped for an economic entity must be logical and consistent and must be related to the objectives of the entity, as well as the circumstances in which it conducts its activities.

    Because of the typical characteristics of non-profit organisations, the primary aim of accounting reporting should be to provide control over sources by means of accounting responsibility. Seeing that the function of stewardship is basic to this type of organisation and because responsibility for profit is not associated with this type of entity, most non-profit associations and organisations use the so-called funds accounting procedures for financial reporting.

    Funds accounting requires that the sources of finance of an organisation be divided into various funds. A fund can be defined as a sum of money or other source that are set aside for a specific activity designed to achieve specific objectives and that is regarded as a separate accounting entity.

    The difference between this definition of a fund and the usual meaning thereof is obvious: the concept fund implies an amount of money for some other source that is intended for a specific purpose. The concept fund in a non-profit organisation embraces the additional principle of a separate accounting entity. Thus, the accounting system will provide for a number of self-balancing 'fund-units' utilised in accordance with the limitations placed on the use of the funds. The funds procedure is designed to pr

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