Open AccessAccrual Accounting in Government: Is Fund Accounting Still Relevant?
Author(s) -
Kalsom Salleh,
Rozainun Ab Aziz,
Y. Nurli Abu Bakar
Publication year - 2014
Publication title -
procedia - social and behavioral sciences
Language(s) - English
Resource type - Journals
ISSN - 1877-0428
DOI - 10.1016/j.sbspro.2014.11.065
Subject(s) - accrual , accounting , fund accounting , accounting standard , business , financial accounting , positive accounting , accounting information system , mark to market accounting , revenue recognition , management accounting , government (linguistics) , social accounting , relevance (law) , finance , political science , linguistics , philosophy , law , earnings
The main purpose of public sector accounting is to act as the trustee to protect and manage public moneys and discharge accountability. Fund Accounting is used as the rational response to serve as a reliable control technique for such purposes. With the emphasis of accrual accounting which is more reliable than cash accounting in measuring financial performance of government activities, this study therefore attempts to evaluate the relevance of the Fund Accounting in the planned adoption of accrual accounting by the Federal Government in Malaysia. Thus, the objective of this paper is to provide literature evidence to support on the relevance of Fund Accounting for the adoption of accrual basis of financial reporting in the Federal Government of Malaysia
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