Disclosure of income and expenses in the financial statements of non-profit organizations: problems and solutions

The widespread globalization of economic processes and the involvement of participants from different countries in the activities of non-profit organizations impose special requirements on the content and form of presentation of financial information which is necessary for making correct and timely management decisions. In this regard, information about income and expenses as the fundamental objects that form the organization's net assets is of particular interest. Income reports reflect basic information about the amount of resources raised and expenses incurred by non-commercial organizations. The purpose of this study is to study global practices in the disclosure of income and expenses in the financial statements of non-profit organizations, identify problems in domestic practices and explore ways to address these problems.