accumulated fund

Quick Reference

A fund held by a non-profit making organization (such as a club or society) to which a surplus of income over expenditure is credited and to which any deficit is debited. The value of the accumulated funds can be calculated at any time by valuing the net assets (i.e. assets less liabilities) of the organization. The accumulated fund is the equivalent of the capital of a profit-making organization.

Subjects: Accounting.

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