Calculation of Subscription Income:

To calculate the subscription income, we need to consider the opening and closing balances of subscription dues, as well as the amounts received during the period.

Opening subscription dues: 60,000
Subscription received: 2,25,000
Subscription received in advance: 15,000
Subscription due but not received (closing): 45,000
Subscription received in advance (closing): 30,000

Step 1: Calculate the Total Subscription Income:

Subscription income can be calculated by subtracting the opening subscription dues from the total amount received during the period and adding the closing subscription due but not received.

Total subscription income = Opening subscription dues + Subscription received - Subscription due but not received (closing)

Total subscription income = 60,000 + 2,25,000 - 45,000
Total subscription income = 2,40,000

Step 2: Calculate the Advance Subscription Income:

Advance subscription income can be calculated by subtracting the opening advance subscription from the total advance subscription received during the period and adding the closing advance subscription received.

Advance subscription income = Opening advance subscription - Subscription received in advance + Subscription received in advance (closing)

Advance subscription income = 15,000 - 2,25,000 + 30,000
Advance subscription income = -1,80,000

Step 3: Calculate the Net Subscription Income:

Net subscription income is the total subscription income minus the advance subscription income.

Net subscription income = Total subscription income - Advance subscription income

Net subscription income = 2,40,000 - (-1,80,000)
Net subscription income = 4,20,000

Therefore, the subscription income from the given details is 4,20,000.

Introduction: Not-For-Profit Organizations

Not-for-profit organizations, also known as nonprofit organizations or NPOs, are entities that operate to fulfill a specific social, educational, religious, or charitable purpose rather than for making a profit. These organizations use any surplus funds they generate to further their mission rather than distributing them as profits or dividends.

Key Points:
- Not-for-profit organizations are driven by a mission to serve the public or a specific community.
- They rely on various sources of income, including donations, grants, membership fees, and subscriptions.
- The primary goal of these organizations is to provide services, support a cause, or promote a specific agenda rather than generating profit.
- NPOs are governed by a board of directors or trustees who ensure the organization operates in compliance with its mission and legal requirements.
- Financial statements for NPOs typically include an income statement, balance sheet, and cash flow statement, similar to those of for-profit organizations.
- However, instead of reporting profits, NPOs focus on demonstrating the impact of their activities and the efficient utilization of resources.
- Subscription income is a common source of revenue for NPOs, especially those that offer membership programs or services on a recurring basis.
- It is essential for NPOs to carefully track and manage their subscription income to ensure the sustainability of their operations and fulfill their organizational goals.

In conclusion, subscription income plays a significant role in the financial sustainability of not-for-profit organizations. By effectively managing subscription dues, advance payments, and outstanding amounts, NPOs can ensure the continuity of their services and contribute to the achievement