What will happen, if the accounting of an organisation is not done properly? Then there will be no proper records, and eventually, organisations authenticity will be called into question, right? So, even if the organisation is not a company running for profit, such as a charitable institution, proper accounting has to be done. Otherwise, malpractices and fraudulent activities can occur. So, Accounting for Specialised Institutions deals with the accounting of insurance companies, charitable institutions, hire vendors, etc. in order to provide for their proper accounting. If they are not properly accounted for, how will the government collect taxes from such organisation? Yes! It is essential to perform the accounting functions and record the inflow, outflow and the profit earned by the organisation. The subject can be looked further under the below presentation. Please refer.

Sneha S Raj

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