Step right up and behold the mystical ledger of knowledge, where numbers dance in harmony with goodwill for a spectacle like no other! Welcome to the grand tent of "Accounting for Not for Profit Organisation Class 12 Notes and Mind Map," where the acts of debits and credits won't just make sense, they'll practically sing to you! Imagine a colorful cacophony of brain-friendly notes, intertwined with mind maps that could make even the most perplexing financial concepts as clear as a polished crystal ball. With a swirl of our educational wand, we shall embark on a fantastical journey through revenues and expenses that tells the noble tale of Not-for-Profit accounting.

But fear not, brave learner, for it isn't a dragon to be slain but a waltz to be learned, and we’re here to lead you step by twinkling step. Are you ready to waltz your way to wizardry in accounting? Let the magic begin! 

Imagine stepping into a world where money isn't everything, a realm brimming with heart and soul, devoted not to the pursuit of profit, but to the enrichment of our collective human experience. This is the universe of Not-for-Profit Organisations (NPOs), my dear friends, where the currency is kindness and the profits are measured in smiles, changed lives, and preserved cultures. Let's embark on a whimsical journey to demystify the financial wizardry behind these altruistic entities.

At the heart of every Not-for-Profit Organisation beats a mission not of accumulating wealth, but of serving the public good, be it through art, education, health care, or a myriad of other noble causes. These entities, with their magical aura of benevolence, are not owned by any one person but exist as separate legal entities, almost like benevolent creatures from a fairytale, dedicated to their cause. They thrive on the lifeblood of donations, government grants, and the occasional treasure chest of membership fees.

Now, let's tiptoe into the enchanted forest of NPO accounting, where the mystical creatures known as financial statements dwell. First, we stumble upon the Receipts and Payments Account, a chronicle of all the gold coins (and perhaps a few beans for good measure) coming in and going out of the NPO's treasure chest over the year. This record cares not for the time or place of each coin’s origin, only that it passed through the gates.

Venturing deeper, we encounter the wise sage of the realm, the Income and Expenditure Account. This discerning elder tells tales of the organisation’s financial deeds, weighing the gold gathered against the gold spent, determining whether the year saw a bounty or a need for more quests.

And there, in a clearing bathed in sunlight, stands the majestic Balance Sheet, a mirror reflecting the NPO's very soul. It shows what the NPO owns, what it owes, and the magic spells (or funds) binding its wealth to its mission. This powerful artifact gives one a glimpse into the health and heart of the organisation at a point in time.

In this land, a special kind of magic called Fund Based Accounting ensures every gold coin, enchanted artifact, or donated beanstalk is tracked with a purpose, ensuring that the realms of 'General' and 'Restricted' funds remain harmoniously balanced.

But beware, adventurous learner, for there are unique incantations for items like entrance fees or lifetime memberships, where the wizardly accountants must decide: are these treasures for the long haul, bolstering the NPO's fortress, or are they fleeting, to be used in the here and now?

As we conclude our journey through the mystical world of Not-for-Profit accounting, let us carry with us not just an understanding of ledgers and balance sheets, but an appreciation for the magicians behind the scenes. These financial guardians ensure that even in a world where money isn't the end goal, the essential work of NPOs can continue casting spells of change and making our world a better place.

So, pull up a chair, uncap your pen of curiosity, and let’s keep flipping the pages of this never-ending story of learning and discovery, where every number tells a tale of hope and every balance sheet sings a song of possibility.