Individuals or institutions with activities other than trade are known as non-trading concerns. Non-trading concerns includes clubs, hospitals for the welfare of the public. Non-trading concerns are the started with the aim of not earning profit but then take profit for a religious purpose.
Accounting for Non-Trading Concerns Definition and Explanation of Non-trading Concerns: Individuals or institutions with activities other than trade are known as non-trading concerns. Examples of non-trading concerns are clubs, hospitals, libraries, colleges, athletic clubs etc. These institutions are started not for carrying on a
Final Accounts of Non-Trading Concerns: Non-trading concerns usually maintain their accounts by the double entry system and periodically prepare their final accounts for the submission to their members and subscribers. The method of preparing final accounts by non trading concerns is different than trading