1) Most educational institutions in Bangladesh follow accounting procedures. However, accounting in many higher education institutions simply means maintaining a cash book and preparing an annual income-expenditure statement.
2) This type of accounting is not sufficient to properly analyze the financial performance or position of an organization. It does not allow for the identification of any financial issues or provide a true picture of the organization's financial health.
3) It is recommended that higher education institutions in Bangladesh adopt the 'Not-for-Profit Organization' accounting method. This will allow them to properly maintain books of accounts, prepare financial statements, and ensure transparency - which is important given their public nature.
1) Most educational institutions in Bangladesh follow accounting procedures. However, accounting in many higher education institutions simply means maintaining a cash book and preparing an annual income-expenditure statement.
2) This type of accounting is not sufficient to properly analyze the financial performance or position of an organization. It does not allow for the identification of any financial issues or provide a true picture of the organization's financial health.
3) It is recommended that higher education institutions in Bangladesh adopt the 'Not-for-Profit Organization' accounting method. This will allow them to properly maintain books of accounts, prepare financial statements, and ensure transparency - which is important given their public nature.
1) Most educational institutions in Bangladesh follow accounting procedures. However, accounting in many higher education institutions simply means maintaining a cash book and preparing an annual income-expenditure statement.
2) This type of accounting is not sufficient to properly analyze the financial performance or position of an organization. It does not allow for the identification of any financial issues or provide a true picture of the organization's financial health.
3) It is recommended that higher education institutions in Bangladesh adopt the 'Not-for-Profit Organization' accounting method. This will allow them to properly maintain books of accounts, prepare financial statements, and ensure transparency - which is important given their public nature.