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Club Accounts JC
Junior Cert Club Theory
Term | Definition |
---|---|
Club | Non-profit making organisation, set up to benefit the members e.g. GAA Club |
Officers of a Club | Chairperson, Secretary, Treasurer |
Agenda | List of all the items to be discussed at a meeting |
Minutes | Record of what was said and decided at a meeting (taken by secretary) |
Accumulated Fund | This is the Capital of a Club - opening assets minus opening liabilities |
Accounts of a Club | Analysed Cash Book called Receipts and Payments, Income and Expenditure Account, Balance Sheet |
AGM | Annual General Meeting - held once a year to elect new officers and discuss the previous year |
Profit of a Club | Excess Income over Expenditure |
Loss of a Club | Excess Expenditure over Income |