Author/Authors :
Basnan, Norida Universiti Kebangsaan Malaysia - Faculty of Economics and Management, School of Accounting, Malaysia , Salleh, Mohd Fairuz Md. Universiti Kebangsaan Malaysia - Faculty of Economics and Management, School of Accounting, Malaysia , Ahmad, Azlina Universiti Kebangsaan Malaysia - Faculty of Economics and Management, School of Accounting, Malaysia , Harun, Azizah Mohd Universiti Kebangsaan Malaysia - Faculty of Economics and Management, School of Accounting, Malaysia , Upawi, Ismail Universiti Kebangsaan Malaysia - Faculty of Economics and Management, School of Accounting, Malaysia
Abstract :
Improved reporting is a vital instrument to better discharge a government s accountability obligations, a trait crucial to a government’s integrity. The Federal Government of Malaysia’s announcement to shift from modified cash to accrual-based accounting can be seen as an effort to improve governmental reporting. This study examines the challenges facing the government in accounting for heritage assets with its shift to accrual accounting. Primary data were collected via interviews with representatives of one ministry and two relevant government departments. The study found that the major challenges in accounting for heritage assets were related to recognition and measurement as well as in the aspects of asset registry and staff competency. The findings and recommendations may assist the government in identifying specific measures to ensure the successful implementation of accrual-based accounting.
Keywords :
unting for heritage assets , accounting for specialized assets , accrual accounting , governmental accounting , heritage assets , public sector accounting
