Unit 12 - Financial Statements for Specific Businesses
Institution
PEARSON (PEARSON)
Distinction standard work. Includes appropriate images, and is extremely well formatted and put together. Using the information from this assignment will ensure you get a great mark.
Unit 12 - Financial Statements for Specific Businesses
All documents for this subject (5)
3
reviews
By: Kai728282882 • 2 year ago
By: saifullahtipu • 2 year ago
By: amhaigh • 4 year ago
Seller
Follow
giuliacazacu
Reviews received
Content preview
Giulia CAZACU unit 12
M3
ANALYSE THE IMPORTANCE OF NON-PROFIT ORGANISATIONS
Non profit organisations can have tax deductions. Also, many foundations and governments
limit their grants to public charities. However, the non profit organisations can offer tax
deductions to businesses that offer contribution to their charities. For more, under the law,
creditors are limited to the assets of the non profit organisation. Also, the owners and the
member are not personally liable for the debts of the business. In contrast, if the directors
are not doing their job properly they can be held liable so the owners doesn’t need to worry
in case they will name someone director. This is important because the public will know that
they will have to follow the legislations and there will be someone to check on them
because there is a formal structure. The incorporation puts the non-profit organisation’s
mission and structure above the personal interests of individuals associated with it.
However, to create a non profit organisation takes time and effort. Also, there are fees that
are required. They will need to keep details of records and to submit annual fillings to the
government in order to keep the organisation active. Also, the non profit organisation is
subject to lawas and regulations including the internal regulations. The organisation needs
to keep its finances open to the public inspection because the business is dedicated to the
public interest. The public can look at the state of the business and they will learn about the
expenditures of the business.
The non profit organisations are important because they establish themselved with the goal
to meet a tangible need instead of the goal to make money by meeting the customer’s
needs. This allows them to get donations and grants, not only to make revenue from sales
like a normal business does. By having non profit organisation allows a lot of great things to
happen in the world that cannot be done without the help of these businesses because no
one will invest/donate money for something that no one thought of doing or the others
doesn’t find necessary or imporant.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller giuliacazacu. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.84. You're not tied to anything after your purchase.
