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Thread Starter
Vijay K.
Donations which are meant for meeting revenue (non-capital items) requirements should be credited to P&L in the period in which they are received, i.e. their recognition should not be deferred
Thread Starter
Vijay K.
When you get donations and such amounts are to be used for specific purpose, then when those amounts are invested that can be called a Fund . But if you get donations are amounts are invested just like other investments in the company, then it can be called Account
Thread Starter
Vijay KSure mam
Amount paid as as admission fee / lifetime membership fee - these are are to be taken into single Capital Fund A/c (which is for all members) and these amounts need not be taken into individual accounts of a member, as there is no independent individual obligation for the organisation towards any member... the total amount is for all in the organisation
Mohit Sehrawat
Sir for ca enterence I am Which course preparation
CA foundation. Please go through this https://www.indigolearn.com/exam/CA-Foundation-Course-A-Complete-Guide