Evaluating the Application of Accounting Principles in the Financial Reporting of Non-profit Organizations in Nigeria

Ali-Momoh Betty Oluwayemisi, Obelewaji Oluwatosin Damilola, Ajayi Adeniyi Rachael, Adesina Oluwakemi Oyebola, Abimbola Akinkunmi Opeyemi, Azeez Mohammed Adekunle, John Achile Abutu, Oladipo Olarewaju and Foalranmi Timothy Ayofe
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Ali-Momoh Betty Oluwayemisi: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Obelewaji Oluwatosin Damilola: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Ajayi Adeniyi Rachael: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Adesina Oluwakemi Oyebola: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Abimbola Akinkunmi Opeyemi: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Azeez Mohammed Adekunle: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
John Achile Abutu: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Oladipo Olarewaju: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.
Foalranmi Timothy Ayofe: Department of Accounting, Faculty of Management Science, Federal University of Oye Ekiti, Ekiti-State, Nigeria.

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Abstract: Globally, Non-profit organizations (NPOs) are the pillar of support in society, which provide essential services and assistance to numerous communities. NPOs rely more on donations from sources, government subsidies, as well as public appropriations, as they are obliged to their stakeholders for transparency and accountability in managing their finances. Unlike for-profit organizations. Therefore, this study aims to evaluate the application of accounting principles in the financial reporting of non-profit organizations in Nigeria. The study selected 15 NPOs in Ekiti and Ondo State, Nigeria. The study utilized a mixed method that is primary and secondary data, and used a Purposive sample technique. The data collected were analyzed using the correlation analysis method. The findings of the study reveal that the accounting basis has a great impact on the performance of non-profit making organization in Ekiti and Ondo State, Nigeria. The study concluded that there is an interconnectedness between financial growth and governance quality in nonprofit organizations, and with the size of the organizations, financial operations become more holistic, as indicated by higher asset accumulation.

Date: 2025-06-10
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Published in Asian Basic and Applied Research Journal, 2025, 7 (1), pp.426-434. ⟨10.56557/abaarj/2025/v7i1186⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05109605

DOI: 10.56557/abaarj/2025/v7i1186

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