More transparent and effective

More transparent and effective. [Newspaper] (2018)


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
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