The failures of corporations such as Enron, WorldCom and HIH Insurance, to name but a few, have heightened investor awareness of the need to not only evaluate company performance, but also to consider the possibility that financial statements may not be a true reflection of company results, as fraudulent activities may have occurred during the reporting period. Since parties who are outside of the firm do not have access to pertinent information, they have to rely upon published financial and non-financial data to form an opinion regarding performance and/or the risk that fraudulent activities may have occurred. The prior literature shows a relationship between weak corporate governance and fraudulent activities, although most if not all of this research relates to Western economies. The differences in institutional setting e.g. cultural values and legal environment in Malaysia would not give the same findings with the study in western economies. Composing of many ethnicities, Malaysia is a multicultural country. With each ethnic group upholding its own culture, values and belief, businesses are conducted according to each ethnic’s culture. The results of this study could shed some light on the influence of institutional setting regarding corporate governance. Companies that were charged with accounting and auditing offences from year 2003 to 2007 were selected as the fraudulent samples. Data was collected from the years these companies were charged with fraud and the year prior to that. Logistic regression analysis was carried out to determine the significant differences between fraudulent and non-fraudulent companies with respect to corporate governance characteristics. The results indicated that the size of the board and the percentage of institutional shareholdings had significant relationships with the likelihood of corporate fraud occurrences consistently across the two-year period studied. The results of this study will assist public, corporate and accounting policy makers in formulating more effective corporate governance mechanisms.
The economic environment has changed from the era of agriculture, industrial and now to an information era. In this information era, intangible assets dominate the environment compared to during industrial era that was mainly dominated by tangible assets. Intangible asset plays an important role in today’s economy with the shift from being an industrialised economy to a high-tech and service-oriented. In Malaysian capital market, there is an upward trend of intangible assets development. Hence, the question of whether the value relevance of intangible assets is properly reflected in financial statements arises. The objective of this study is to examine the value relevance of intangible assets in Malaysia before and after the adoption of FRS 138. This study used a sample of 113 public listed companies from four main sectors namely Industrial Product, Trading services, Consumer Product and Technology. The period under study was divided into two, that is, pre adoption period (2002-2005) and post adoption period (2008-2011) to observe if there were any improvements on the value relevance of intangible assets after the adoption of International Financial Reporting Standards (IFRS). The data was analysed to examine the value relevance of intangible assets in Malaysia before and after the adoption of FRS 138. The finding of this study suggests that intangible assets are value relevant in the pre adoption period but are not value relevant in the post adoption period. This study may contribute to the existing literature on the economic consequences of adopting IFRS and also preliminary indication of the impact of FRS 138 adoption.
Household accounting is also known as the financial management of household income and consumption were given attention during this pandemic era. The reason is that the pattern of spending among households plays an important role in ensuring the financial stability and sustainability of households, especially during a crisis. During the inflation phenomenon, purchasing power decreases despite the increase or constant in the value of household income. A significant amount of the consumption among households is finances through debt. Malaysia’s household debt to GDP is among the highest in Asia that exceeded several high-income nations, including the United States and Japan. The household-to-GDP ratio was 86.9% in 2015 and increased to 87.5% as of June 2020. The increase especially during the contraction of nominal GDP and economic crisis because of the Covid-19 pandemic is indeed very alarming. Therefore, consumers need to keep track of their income and spending behavior to help them to become more resilient, despite the economic crisis. This study attempts to investigate the pattern of managing household accounting, specifically consumption and income among Johor citizens. For this study, the secondary data was collected through the Report of Statistics Department for the year 2019. Descriptive statistical analysis was carried out to investigate the patterns of consumption among three income groups: B40, M40, and T20. Consumptions were divided into 13 groups of necessities and non-necessities household expenses. The result showed that across the three groups, housing and utility expenses are the highest consumptions followed by food and non-alcoholic beverages. Group B40 is the lowest income group among the three consumed more than the other two groups for both types of expenses. One possible explanation could be this group has more members in the household as compared to the other two groups. However, a more detailed analysis of this fact should be carried out in the future to understand why it is so. This study is limited only to Johor state. A future in-depth study could widen the sample to the whole of Malaysia to better understand the general pattern of consumption of Malaysian households. By understanding the pattern of consumption, we could help the household to better manage their spending, prioritize their consumption, and hope to help them to save some for future use. Keywords: household, household accounting, income, consumption eISSN: 2398-4287© 2021. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians/Africans/Arabians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v6i18.3081
The issue of graduates' employability has become a growing concern globally. With many graduates, but limited positions in the workforce, it is imminent for graduates to possess employability traits. Employers also expect the students to learn a multitude of skills and abilities, on top of knowledge of accounting, while studying in the university. To reduce this gap, a student development framework, the APAcS Star was established. APAcS Star aims to bridge the gap by arming students with essential interpersonal skills. Based on three core Skill Areas, namely Critical Thinking, Communications and Leadership skills. APAcS Star is executed by further breaking those Skill Area into Traits. These traits connote an element of a Skill that, by mastering a number of those smaller Traits, will lead to a mastery of the major Skill. In conclusion, this framework was able to assist the higher education provider to craft and develop a multitude of skills and abilities of its graduates, thus reducing the employability gap.
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