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Click Here for  MCQs Practice Based on Specialised Accounting Accounting for Non-Trading Organisations INTRODUCTION Receipts and Payments Account, Income and Expenditure Account, and Balance Sheet are typically prepared by non-profit organisations such public hospitals, public educational institutions, clubs, etc. to indicate periodic performance and financial position at the conclusion of the accounting period. In this unit, we'll talk about how to create a balance sheet, income and expense account, and receipts and payments account for nonprofit or non-trading organisations. Additionally, we'll go through and show how to create an income and expense account from a receipts and payments account. It should be noted that the profit and loss account created for profit-making organisations is very similar to the income and expense account. The excess of expenditure over income in an income and expense account is seen as a surplus.Total cash payments and receipts are highlighted in