Abstract
All the examples considered so far have assumed a profit motive. Certain organisations, however, require financial statements to record the activities over a period and the position at the closing date, but do not set out to earn a profit. The motive may be social, sporting, educational or charitable, and the organisation concerned a club, society, school or trust.
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© 1986 Andy Simmonds
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Simmonds, A. (1986). Income and Expenditure Accounts. In: Mastering Financial Accounting. Macmillan Master Series. Palgrave, London. https://doi.org/10.1007/978-1-349-18430-9_6
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DOI: https://doi.org/10.1007/978-1-349-18430-9_6
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-37650-8
Online ISBN: 978-1-349-18430-9
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