Trading Concern

Non-Trading Concern

Profit-motive

Normally non profit motive

Sources of Income mainly related to clubs, societies and associations ( discussed below)

The incomes derived mainly from the trading in the buying and selling of goods and services

Maintain Cash Book

Here, it is called Receipts and Payments Account

Maintain a Profit & Loss Account

It is called Income and Expenditure Account

The word Capital is used

Here, instead of using Capital, it is called Accumulated Fund