2-Days Study Plan: Financial Statements of Not-for-Profit Organizations - Accounting for CA Foundation PDF Download

Introduction

Financial Statements of Not-for-Profit Organizations is a crucial chapter for understanding how these entities maintain transparency and accountability.
This study plan is designed to help students master the key concepts through a balanced mix of reading materials, videos, and tests.
By following this plan, students will develop a thorough understanding and be able to apply accounting principles specific to not-for-profit organizations effectively.

Chapter Overview

Basics of Not-for-Profit Organizations (NPOs)
Accounting principles for NPOs
Subscription and adjustments in NPO accounts
Important adjustments such as cost of consumable goods
Preparation and presentation of financial statements for NPOs

Study Plan

Day 1: Understanding Basics and Core Concepts

Begin with NPO - Not for Profit Organisations : Basics to grasp foundational ideas.
Watch Quick Revision of Accounting for NPO to reinforce the accounting framework.
Read Financial Statements of Not- for-Profit Organizations to understand statement types and formats.
Make concise notes summarizing key points from the video and document resources for quick review.

Day 2: Subscription, Adjustments, and Practice

Watch NPO - Not For Profit Organisations: Subscription and adjustments to learn about handling subscriptions and necessary account adjustments.
View NPO: Important Adjustments - Cost of Consumable goods to deepen understanding of specific adjustments.
Review Chapter Notes: Financial Statements of Not-for-Profit Organizations to consolidate learning.
Attempt the test Test: Principles And Practice of Accounting- 2 to assess understanding and identify areas needing clarification.
Revisit notes and clarify any doubts encountered during the test.

Day 3: Revision and Practice

Review your notes prepared on Day 1 and Day 2 carefully.
Revisit the following resources to strengthen weak areas:
- Chapter Notes - Accounting for Not for Profit Organisation
- Question & Answer: Financial Statements of Not-for-Profit Organizations
Take the test Test: Principles And Practice Of Accounting- 1 as a mock exam to evaluate overall preparedness.
Clarify remaining doubts and summarize the entire chapter in your own words.

Important Links

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2-Days Study Plan: Financial Statements of Not-for-Profit Organizations Notes

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Table of contents
Introduction
Chapter Overview
Study Plan
Important Links

2-Days Study Plan: Financial Statements of Not-for-Profit Organizations | Accounting for CA Foundation PDF Download