Open AccessHERITAGE ASSETS IN MALAYSIA: PERSPECTIVES OF MALAYSIAN GOVERNMENT AGENCIES
Author(s) -
Mohamad Hafiz Rosli,
Nawal Kasim,
Amrizah Kamaluddin
Publication year - 2020
Publication title -
humanities and social sciences reviews
Language(s) - English
Resource type - Journals
ISSN - 2395-6518
DOI - 10.18510/hssr.2020.82107
Subject(s) - accounting , valuation (finance) , business , government (linguistics) , public sector , public relations , guideline , political science , linguistics , philosophy , law
Purpose: This study discovered how the government agencies in responding to the accounting for HA, particularly the valuation and disclosure aspect of it.
Methodology: This study adopted a semi-structured face-to-face interview for data collection. Two government departments were identified as these departments have unique, special, and rare assets as compared to other government departments.
Main Results: Their perspective towards accounting for HA revealed that they were ready for HA valuation and in the process to recognize and value their HA. On top of that, policymakers needed to provide clear accounting guidelines and strengthen the recognition and measurement process, as well as the disclosure part of HA. Other factors, such as lack of technical knowledge and understanding among the factors could lead to the distortion of the accounting process. The agencies perceived that recognizing HA and disclosing it is important for public knowledge and the exposure towards the valuable national HA.
Implications: The finding of this study contributed to the existing literature on HA and could be the guideline to policymakers and preparers of public sector financial statements.