Npo
Querist : Anonymous
e.g. Donation recieved for the consruction of Playground, Hospital ward, School Building etc.
Querist : Anonymous
if recd for general nature--we see revenue or capital...revenue goes to i and e and capital -fund accounting
and prize fund is used as a fund irrespective of being revenue in nature as it is for a specific purpose ?
the above line quoted by u is right look
fund arises only when the donation is recd with specific instruction about the manner in which expenditure of that donation is recd
If the money is recd for specific purpose, then the same amount should be spent on the same purpose else it would be spent on the normal business of the organisation.
just imagine what will happen if u dont keep the money given for the books seperately, there r highly chances that u may spent the money given for books on general purpose.
but if u keep that money in different pocket named as "fund" then it will not be spent on other purpose.
I hope u understand now, contact for further doubts
Querist : Anonymous
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