AOP - ACCOUNTS

This discussion provides guidance on maintaining accounts for an Association of Persons (AOP), specifically for welfare associations. It outlines the necessary ledgers and registers, such as cash books, journals, and membership registers, along with the key financial statements to prepare, including the Receipts and Payments Account, Income and Expenditure Account, and Balance Sheet. The advice also clarifies that an AOP does not necessarily have to be a trust and can operate differently.