5.%20 Siddika 2007

The document discusses the accounting system and financial reporting of BRAC's Education Project (BEP). [1] BEP follows International Accounting Standards and GAAP in preparing its financial statements on an accrual basis. [2] It recognizes grants as income when conditions are met and matches expenses, following the principle of transparency. [3] The accounting system provides guidelines for assets, provisions, taxation, and financial instruments to maintain accurate and standardized reporting.