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Case Study in a Malaysian Public Agency on an Asset Management-Moving Towards the Accrual Basis of Accounting

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  • Sharifah Sabrina Syed Ali
  • Sharon Cheuk Choy Sheung
  • Mohd Waliuddin Mohd Razali

Abstract

As part of the strategic reform of Malaysian public services under the Government Transformation Program (GTP), accrual accounting is expected to be fully adopted in public sector financial reporting commencing on 1 January 2015, in order to ensure alignment with the global accounting standards. Consequently, in order to access the government effectiveness of moving towards the accrual basis of accounting, this study is to examine the asset management system in a Malaysian public agency; to evaluate the extent of compliance with MPSAS 17, Property, Plant and Equipment (PPE), IPSAS 26, Impairment of Cash-Generating Assets and IPSAS 21, Impairment of Non-Cash Generating Assets. Using qualitative approach, a preliminary study was conducted via interviews and through obtaining documents. The findings include the following- MPSAS17 has not been strictly adhered to and software is used to monitor the assets; however, the disposal of assets is a manual process and is not automated. The study also discussed any weaknesses pertaining to the said asset accounting system, and suggested recommendations for improvement thereon.

Suggested Citation

  • Sharifah Sabrina Syed Ali & Sharon Cheuk Choy Sheung & Mohd Waliuddin Mohd Razali, 2019. "Case Study in a Malaysian Public Agency on an Asset Management-Moving Towards the Accrual Basis of Accounting," Accounting and Finance Research, Sciedu Press, vol. 8(3), pages 149-149, August.
    • Handle: RePEc:jfr:afr111:v:8:y:2019:i:3:p:149
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    References listed on IDEAS

    as
    1. Abdul Khan & Stephen Mayes, 2009. "Transition to Accrual Accounting," IMF Technical Notes and Manuals 2009/002, International Monetary Fund.
    2. Abdul Khan & Stephen Mayes, 2009. "Transition to Accrual Accounting," IMF Technical Notes and Manuals 09/02, International Monetary Fund.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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