International Journal of Accounting and Management Sciences (IJAMS)
July 2022
DOI https://www.doi.org/10.56830/IJAMS07202201
Authors
Maged M. Albaz
Magdy M. Melegy
Ali A. Alhijris
Ahmed Z. Metwaly
Abstract
Scientific research especially in social sciences is a result of accumulated experience and expertise
from previous studies. this Research aims to examine the development of academic and professional
accounting in Non-Profit sector from an international perspective by reviewing the previous
literature associated with the comprehensive accounting function in Non-Profit sector, starting from
the current accounting framework down to the role of the stakeholders’ theory by summarizing and
analyzing the accounting academic research findings in this area to identify the main strengths and
weaknesses points. This will contribute to developing the comprehensive accounting function in
the non-profit sector. Furthermore, in terms of the legislative and regulatory side. there are growing
doubts about: is the accounting thought able to improve the financial regulation in NPOs in this
way? The main motivation for the researchers to conduct this study was the findings of many
academic studies that indicated the inadequacy of the current accounting framework and regulation
(traditional) to meet the requirements of the accounting function in NPOs from the stakeholders’
perspective, The Researchers observed by tracking the accounting thought’s development in the
financial accounting standards-setting process- in general – that it lies between two main
perspectives. The first perspective considered the accounting standards’ development came to
provide more information for decision-making, especially with the growing groups and
requirements of stakeholders meanwhile the second perspective considered the accounting
standards’ Development was a natural result of the business environment’s development and the
need for new methods and tools by accounting function to give credibility and legitimacy to the
organizations’ activities
Keywords: Accountability, NPOs, CAs, Disclosure, Stockholders’ Theory
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