|
NAIC Club Accounting uses the NAIC unit method to represent each member's ownership in the club.
- Members acquire units whenever they make Payments to the club. Depending on the current
value of a unit, equal payments made at different times may buy more or fewer units. Fees and Petty Cash
contributions do not buy units.
>
- The value of a unit increases or decreases as the value of the club (in particular the club's
investments) increases or decreases.
- The unit value and number of units held by each member may change when the treasurer uses the Distribute
utility to distribute the club's earnings, to account for the amounts distributed. The total value for
each member does not change when earnings are distributed.
|
