Authors : Halimah Nasibah Ahmad, Natrah Saad, Nor Laili Hassan, Mohamad Sharofi Hj Ismail and Md Suhaimi Md Saleh
Abstract: Malaysian Public Sector Accounting Standards (MPSAS) are introduced in tandem with the implementation of accrual-based accounting in the public sector setting. The aim is to improve the efficiency of financial management and accounting practices of the Malaysian Government. Based upon a case study of a large museum in Malaysia this study aims to examine the current accounting practices of heritage assets in order to reveal the gap between the current practice and the possibility of compliance with accrual based accounting. A museum was selected as museums are the government agencies that are directly involved in managing heritage assets. Qualitative approach involving interviews, observations and documentation review were used to gather the data. The findings shows that the museum is in the process of preparing for the full implementation of the accrual-based accounting. The findings of this study do not only contribute to the existing literature on accounting for heritage assets in Malaysia but also to shed lights on loopholes in the current accounting practices.
Halimah Nasibah Ahmad, Natrah Saad, Nor Laili Hassan, Mohamad Sharofi Hj Ismail and Md Suhaimi Md Saleh, 2016. A Case Study on Accounting for Heritage Assets. The Social Sciences, 11: 7263-7267.