Course Contents:
1. Introduction
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Meaning of NPO/NGO/INGO
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Registration procedures
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Required documents and compliance processes
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Overview of laws and regulations
2. Accounting with NAS
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Accounting principles and guidelines applicable to NPOs
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Treatment of Inventories
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Treatment of Property, Plant & Equipment
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Treatment of Donations
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Treatment of Fair Values
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Treatment of Other relevant items
3. Preparation of Financial Statements
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Statement of Financial Position
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Income Statement
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Cash Flow Statement
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Reserves
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Management Reports
4. Fund Accountability Statement
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Understanding fund accounting
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Recording resources with donor or legal restrictions
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Emphasis on accountability over profitability
5. Case Studies on Taxation
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Taxability of NPOs under Income Tax Act 2058 and other applicable acts
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Tax Exemption Certificate
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Applicability of VAT and TDS
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Annexure 5 Ka