I'd like to ask if the following sentence is written correctly:
Based on the world practice of today, incomes of non-profit organizations can be conditionally divided into three types:
The part I'm not sure of is "world practice of today". The intended meaning is practice of the modern world/modern world practice.
And can "proceeding from" be used instead of "based on" in this sentence?
I think that 'modern world practice' sounds much better than 'world practice of today'.