Accounting System of Ngo

In: Social Issues

Submitted By kaisar
Words 5240
Pages 21
Accounting System and Financial Reporting of NGOs: Case
Study of a BRAC’s Project

Munima Siddika1, Mohammad Sarwar Jahan Rekabder2 and A.K.M. Delwar

Abstract: In the absence of specific accounting and financial reporting standards and

diverse interpretation of certain terms under the laws of the land, it has become a very

difficult task to follow a standardized procedure in generation and presentation of

accounting and financial information of NGOs. The practices followed by NGOs in

Bangladesh are varied and diverse and there by preparation of financial statements are

incomparable and difficult for uses to understand. The paper tries to demonstrate

financial reporting and accounting system of a BRAC’s project and provide a guideline

for constituting suitable financial reporting and accounting systems for NGOs. The

article elaborates on basis of preparation of financial statements and reporting

procedure and then followed by accounting systems of regional office and head office of

that project. The final part of the article discuses issues relating to financial report and

financial transparency of the project.

Munima Siddika, Lecturer, Faculty of Business and Economics, Daffodil International University, 102
Sukrabad, Mirpur Road, Dhaka-1207, Bangladesh.

Mohammad Sarwar Jahan Rekabder, Lecturer, Faculty of Business and Social Studies, State University of

A.K.M. Delwar Hossain, Asst. Professor, Faculty of Business and Social Studies, State University of

Keywords: BRAC, NGO, Accounting System, Financial Statements, Financial Report.


NGOs have become major players in the field of international and national development.

Since the mid-1970s, the NGO sector in both developed…...

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