More transparent and effective. [Newspaper] (2018)
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Abstract
IN a speech at an investor’s conference early last month, aptly named ‘A New Dawn’, Finance Minister Lim Guan Eng affirmed that the government would shift from a cash-basis accounting system to accrual accounting standards by 2021, as part of a wider move to improve transparency and accountability in the public sector.
This is a significant shift for the federal and state governments (and their related agencies, statutory bodies and authorities) who have long used a system of modified cash accounting — where financial transactions are simply recorded only when there is an inflow or outflow of cash in the reporting period.
| Item Type: | Newspaper |
|---|---|
| Keywords: | Financial Accounting, Investor’s conference, Accountancy academies |
| Taxonomy: | By Subject > Business & Management > Economics By Subject > Business & Management > Finance By Subject > Business & Management > Human Resource By Subject > Business & Management > Management |
| Local Content Hub: | Subjects > Business & Management |
| Depositing User: | Muhammad Azrul Ayob |
| Date Deposited: | 27 Apr 2021 07:06 |
| Last Modified: | 27 Apr 2021 07:06 |
| Related URLs: |
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