• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
    • Abstracting/ Indexing:  CNKI, Google Scholar, Electronic Journals Library, Crossref, Ulrich's Periodicals Directory, MESLibrary, etc.
    • E-mail: joebm.editor@gmail.com
JOEBM 2019 Vol.7(1): 24-28 ISSN: 2301-3567
DOI: 10.18178/joebm.2019.7.1.575

Financial Reporting Practices of Local NGO’s Operating in Bangladesh

A H M Yeaseen Chowdhury, Maliha Mahjabeen, and Md Mamun Habib

Abstract— NGOs are the most old development institutions that are contributing towards the development of third world economy. Due to globalization some NGOs operate in the other countries. But their financial reporting inevitably is somewhat specialized in nature. In Bangladesh different NGOs using different method of accounting and reporting system due to lack of accounting and financial reporting standards, hence the comparison among the NGOs isn’t possible. As there is no IAS/IFRS it is very difficult to follow a common standard in generation and presentation of accounting and financial information. This paper aims to demonstrate financial reporting and accounting system of all the local NGO’s operating in Bangladesh and provide a guideline for constituting suitable financial reporting and accounting systems for NGOs. Both primary and secondary sources of information have been used in achieving the aim. The article elaborates on basis of preparation of financial statements, some issues regarding the recording of financial statements in NGO’s and the quality of maintaining these reports. The final part of the article discusses issues relating to financial report and how these reports plays an important role for the managers in taking financial decisions.

Index Terms— Non-government organizations, IFRS, financial reporting, financial reporting standards, financial statements.

A H M Yeaseen Chowdhury is with the Faculty of Business Studies, Bangladesh University of Professionals, Bangladesh (e-mail: yeaseenchy@bup.edu.bd). Maliha Mahjabeen is with AIESEC, Bangladesh. Md. Mamun Habib is with the BRAC Business School, BRAC University, Bangladesh.


Cite: A H M Yeaseen Chowdhury, Maliha Mahjabeen, and Md Mamun Habib, "Financial Reporting Practices of Local NGO’s Operating in Bangladesh," Journal of Economics, Business and Management vol. 7, no.1, pp. 24-28, 2019.

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