Surplus or Deficit
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Accounting for Clubs and Societies
MS: Lebihan atau Kurangan · EN: Surplus or Deficit · ZH: 盈余或亏绌
Meaning
A surplus arises when total income exceeds total expenditure in the Income and Expenditure Account, while a deficit arises when expenditure exceeds income. A surplus increases the Accumulated Fund while a deficit reduces it. These terms are used by clubs instead of net profit or net loss.
Example
For example, Melodi Guitar Club has income of RM4,000 and expenditure of RM4,600. Because expenditure is higher, the club records a deficit of RM600, which reduces the Accumulated Fund that year.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 5