What is subscription? How is it calculated?
What is subscription? How is it calculated?
Subscription is one of the primary sources of income for a not for profit organisation. The other sources being donations, entrance fees, grants etc.
Subscriptions for the current period can be calculated by taking into account the subscription amount for the current period in the previous period and adding it to the subscription received in the current accounting period.
Also, any advance subscription for the coming period received in the current period and outstanding subscriptions amount for the previous period received in the current period are deducted from the subscription received during the current period.
Also read:
- Meaning and Characteristics of Not for Profit Organisation
- Accounting for Not for Profit Organisation
Learn about more questions and answers on business studies and various other commerce topics from our website.
Subscription is one of the primary sources of income for a not for profit organisation. The other sources being donations, entrance fees, grants etc.
Subscriptions for the current period can be calculated by taking into account the subscription amount for the current period in the previous period and adding it to the subscription received in the current accounting period.
Also, any advance subscription for the coming period received in the current period and outstanding subscriptions amount for the previous period received in the current period are deducted from the subscription received during the current period.
Also read:
- Meaning and Characteristics of Not for Profit Organisation
- Accounting for Not for Profit Organisation
Learn about more questions and answers on business studies and various other commerce topics from our website.
