Accounting Treatment of Fund Received from YMCA Central Councial to YMCA local unit

1)  As per ICAI  guidelines ( please refer ) for Non profit  organization , fund which are received for specific purpose should be shown under Source of  Fund / Capital Fund / Restricted Fund , because same is received for the purpose of  purchase of  Abulance only  .

2) you have to prepare Income & Expenditure Account , and Not profit & Loss account , because YMCA is Non profit Organization .

3) As far as Depreciation is concern, , As per Accounting Standered 10 (PPE , if applicable ) , you have to show under Expenditure side of the  Income & Expenditure , however you may adpot  policy that  has been adopted by other branches of YMCA , as I checked the financial statement of  Dehli branch of YMCA on the internet  , they have routed Depreciation through Capital Fund , discuss with your CA in this regard .

4) Take more opnion on this , and importantly , you must discuss with your CA in this regard .