Can the balance sheet of current year include the advance or outstanding subscriptions of previous year?

Dear Student,

Subscription is the source of income for an NPO It is an amount received by the members 

The total amount of subscription relating to the current year, whether the amount is received or not  is  shown on the  Income side  of the Income and Expenditure Account.

Closing Outstanding Subscription 
is the amount which is  not  received till the end of Current year ( it includes o/s amount  of current year and all pervious year if any ) . It is shown as an asset in the Balance Sheet as outstanding Subscription

Amount received in advance for future years is also shown as a liability in the Balance Sheet as advance Subscription.


Regards

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