Different accounting systems used, says Najib

Different accounting systems used, says Najib. [Newspaper] (2018)


The government does not understand that there is a difference between the accounting systems used by the public and private sectors.
Datuk Seri Najib Razak said the claim by Finance Minister Lim Guan Eng that the former administration had recorded RM14.56 billion in unrefunded taxes as revenue, ultimately resulting in a shortfall in money for the Tax Refunds Trust Fund, had caused confusion.
The former prime minister said Lim did not understand that the public sector utilises the modified cash accounting and not the accruals accounting standard used by the private sector.

Item Type: Newspaper
Keywords: Financial Accounting, Financial statement, Taxation
Taxonomy: By Subject > Business & Management > Finance
Local Content Hub: Subjects > Business & Management
Depositing User: Muhammad Azrul Ayob
Date Deposited: 07 Dec 2021 07:44
Last Modified: 07 Dec 2021 07:44
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