Are you looking for the Legacy accounting treatment in NPO financial statements class 12 accountancy? See legacy is the amount received by an NPO against will of a person.
If person specified the purpose for which his legacy should be used. Then it is treated as Specific legacy and recorded as capital receipts and the liabilities side of Balance Sheet.
On the other hand, if there is no purpose it is treated as general legacy and recorded as revenue receipts in income and expenditure account as income.
How to record legacy in NPO financial statements class 12 Accountancy.
Here is the video lecture i have prepared to explain this concept
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