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Faculty of Accounting and Informatics

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    The difference between non-profit organization financial reporting practices and financial performance in relation to IFRS for SMEs and government requirements
    (Universiti Teknologi MARA, Shah Alam > Accounting Research Institute (ARI), 2023-08-31) Mvunabandi, Jean Damascene; Prof Said, Jamaliah
    This study explored the financial reporting practices and financial performance of non-government organizations (NGOs). A case study of a large anonymised non-profit organisation based in Durban, KwaZulu Natal-South Africa, was conducted. A qualitative approach was employed, and data was collected through semi-structured interviews with 24 purposively selected participants to capture their thoughts. Data collected through interviews were supplemented by a review of internal confidential organisational documents. Transcripts, conventional thematic and document analysis, were used to analyse data. Empirical findings revealed that the selected organisation’s financial reporting practices were not fully prepared under the International Financial Reporting Standards for small and medium enterprises (IFRS for SMEs) but differed substantially in line with different formats imposed by its external donors. Relying on empirical findings, key recommendations with a view to enabling the organisation and other similar organisations globally to meet the divergent and often conflicting with requirements of all their stakeholders without losing credibility and or compromising its principles were provided. Therefore, policymakers and other key role players should act swiftly to remedy these discrepancies. This study will guide researchers to further research on subject matter
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    Perceptions of non-government organisations managers about international financial reporting standards in the NGOs sector : a case study of a large NGO in Durban, South Africa
    (PT Keberlanjutan Strategis Indonesia, 2023) Mvunabandi, Jean Damascene; Mbonigaba, Josue
    The role of international financial reporting standards (IFRS) in the growth of organisations has expanded significantly in recent literature. Non-governmental organisations (NGOs) are crucial in global affairs and have different operating contexts, but it is unclear how their use of IFRS is of sufficient quality to satisfy various stakeholders' interests. On this question, this article investigated the managers' perceptions of IFRS practices and quality in a large NGO in Durban, South Africa. A qualitative approach was employed, and data was collected through semi-structured interviews with 24 purposively selected participants. The interviews were recorded and later transcribed. Robustness analysis was performed using conventional thematic content analysis. Evidence from this study showed that despite adopting IFRS accounting and financial procedures, the managers of the selected NGO found it difficult to have quality financial statements due to IFRS for SMEs failing to fit NGOs' operating context. This article established NGOs managers' perceptions of the role of IFRS in managing diverse NGOs stakeholders' interests, provided recommendations applicable to similar NGOs globally and contributed to the scholarly debates for policymakers and practitioners on using IFRS for SMEs in NGOs. This study has also provided a very robust plan for future researchers.
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    Financial accounting as a tool to enhance non-government organisations’ performance : a case study of a large NGO in Durban, South Africa
    (EconJournals, 2022) Mvunabandi, Jean Damascene; Lathleiff, Charmaine; Muzindutsi, Paul-Francois
    Numerous non-governmental organisations (NGOs) in South Africa and elsewhere do not have standardised financial accounting practices to follow in preparing their financial statements and it is not clear whether the International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) can be used to enhance NGOs performance (Kaya et al., 2015). This article explored the applicability of financial accounting practices as a relevant tool to enhance NGO performance with particular reference to a large NGO in Durban, South Africa. A qualitative approach was employed and data was collected through the use of semi-structured interviews and conventional thematic and document analysis. Evidence from this study showed that despite adopting accounting and financial policy and procedures, the selected NGO finds it difficult to maximise its financial performance due to failure to fully comply with IFRS for SMEs in South Africa. This article provides necessary recommendations applicable to other similar NGOs globally.