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Accounting for Not for Profit Organisation

This chapter covers the objectives, advantages, limitations and the types of accounting information. The students are also introduced to the uses of accounting information and their needs. Some of the basic accounting terms introduced in this chapter include business transaction, account, capital, liability, asset, expenditure, expense, income, profits, gains and losses, purchases sales, sales returns, stock, trade receivable, goods, cost, vouchers, discount - trade, and cash.

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