OPERATIONAL AND FINANCIAL SUSTAINABILITY UNDER THE CONCEPT OF SOCIAL MISSION FOR NON-PROFIT ORGANIZATIONS– ANALYTIC AND PRACTICAL STUDY  FOR IAS 20

Mahdi Husain Al-Hashimi, Asmaa

	OPERATIONAL AND FINANCIAL SUSTAINABILITY UNDER THE CONCEPT OF SOCIAL MISSION FOR NON-PROFIT ORGANIZATIONS– ANALYTIC AND PRACTICAL STUDY FOR IAS 20
AL-TAQANI
Article 1, Volume 26, Issue 7, 2013, Pages 0-0
Author
Asmaa Mahdi Husain Al-Hashimi
Abstract
As a result of the recent political, economical and social changes that come out in the last few years in Iraq, the Iraqi people have witnessed the establishment of non-profit NGO's. Those NGO's have undertaken noticeable role in teaching and training various sections of the society in different fields. Undoubtedly, it is very necessary to establish and support such organizations in order to pave the way towards a political stability and social and economical reforms based on their active roll in creating a continuous cooperation between public and private sectors. This mutual cooperation would assure Iraq development with keeping the true Iraqi Identity, culture and traditions. In fact, we can realize from the first look that there is a potential problem here which could be put in this way; most of those organizations lack for proper "management." They do not show minimum of management policy or management knowledge needed to run their different aspects. Those who run the organizations have little experience and knowledge of financial and accounting management, especially in concerning of decisions making in respect of sustainability to enable organization in continuing with social mission that established to achieve it, and base on the common mistake for most of founders and managers of those organizations in classifying and treating the received donations as operations income and the resulting surplus as profit for founders. So, this research based on the accounting treatments of international accounting standard 20 - Accounting for Government Grants and Disclosure of Government Assistance - aims to clarify the profitability and sustainability concepts and differentiate between operation and non-operation income in context of the goals and kind of those organizations work.

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