CLUB ACCOUNTS

What is a Club? A Club is an organisation set up by its members Officers are elected annually at the annual general meeting (AGM) e.g. Chairperson, Treasurer, Secretary Clubs are non profit making organisations e.g. Golf Club, Rugby Club, Hurling Club, Hockey Club Role of Chairperson Calls meetings Chairs meetings Keeps order in the meetings Puts motions to a vote

Role of Treasurer Collects Subscriptions Lodges money into the club bank account Makes all payments on behalf of a club Prepares annual accounts for the AGM Keeps accurate records

Role of Secretary Sends out notices of meetings Sends out an agenda Arranges dates and venues of meetings Keeps minutes of meetings

AGENDA A List of topics to be discussed at the meeting, the meeting follows the sequence of the Agenda. Cork City Golf Club has its Annual General Meeting on Thursday 10 th April 2012 at 8pm in the Club Minutes of last meeting Chairperson’s Report Secretary’s Report Treasurer’s Report Election of Officers Fund Raising AOB Signed June Cooney Secretary

Bar Trading Account The club operates a bar and the end of the year it produces a Trading Accounts and the profit/loss is then transferred to the Income and Expenditure Account. Example Bar Sales€20,000 Bar Purchases€8,000 Bar opening Stock€3,500 Bar closing Stock€2,100

Bar Trading Account Solution Bar Trading Account€€ Bar Sales COST OF SALES Opening Stock Bar Purchases Bar Closing Stock Bar Profit 3,500 8,000 11,500 2,100 20,000 9,400 11,600

Accumulated Fund 2010 Paper 1 Section B Q2 Calculate Club’s Accumulated Fund

Solution

Receipts and Payments Solution

Income & Expenditure Solution