The Bar Trading Account — It shows the profit (or loss) made from running the club’s bar or canteen.
What does the Accumulated Fund represent?
It represents the club’s total net worth at the start of the year — the difference between what the club owns (assets) and what it owes (liabilities). 💬 (It’s
What is the difference between Receipts & Payments vs Income & Expenditure?
✅ Receipts & Payments records all money received and paid during the year (cash basis). ✅ Income & Expenditure records only items that belong to this year (accr
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