Banks must balance security and profit when making loans because loan interests are partially how banks make their money. They must take appropriate security measures to ensure customers keep returning.
A profit making organisation is an organisation which its priority is to make a profit rather than to help the community.
A business' profit is absolutely unrelated to its bank balance.
Net Profit is placed in the Credit Side of the Profit & Loss A/c. of the Company and added to the Capital in the Asset Side of the Balance Sheet.
to reconcile the cash book balance with the balance on the bank statement
Usury
overdraft is included in balance sheet not in income statement which calculates gross and net profit
Accounting is making a statement of company's profit and loss,and tally is making a perfect balance between assets and liability
credit balance in profit and loss a/c is loss
Debit balance of Profit & Loss Account represents "Loss"
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
Net profit appears on liabilities of balance sheet . Net profit is added to capital.
By preparing Receipts & Payments Account, Income and Expenditure Account and a Balance sheet.
summarising involves presenting the already classified data in summarised form.this involve the preparation of balance sheet.
Explain how the marketing concept can be applied in non profit organization?
before we find gross profit ,after we got net profit
This will explain differences to start a non profit organization with no money at all If your still not sure..... I have placed a useful step by step guide link in my bio that you can check out.
A profit making organisation is an organisation which its priority is to make a profit rather than to help the community.