Dispearing Oil

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INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA
KULLIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES
DEPARTMENT OF ACCOUNTING

ACC 4291: INTEGRATED CASE STUDY

GROUP CASE ANALYSIS 3:
THE MYSTERY OF THE DISAPPEARING OIL
INSTRUCTOR: PROF. DR. SHAMSUL NAHAR ABDULLAH
SECTION: 2

DATE SUBMITTED: 17th MARCH 2013

TABLE OF CONTENTS
No| Topic| Page|
1| Mat Jon wondered if it was possible that Jamel was short-changing him?| 4| 2| What control mechanism he would be able to implement to protect his business and to prevent a recurrence of the current crisis?| 5| 3| Should he continue to run this business but take over the management from Jamel? Or was he better off selling the business to Robert?| 6| 4| References| 7|

* SUMMARY
The case is about a petrol station called Spetrol which set up in 1998 and located along the BPK Highway. Spetrol is owned by Mat John, the owner of Jon Enterprise and it was recognized as one of the huge players in domestic petroleum products industry. The day-to-day running of the petrol station, however, was left to his nephew, Jamel and Mat Jon did not participate in the business operation. Initially, the business was doing reasonably well. Nevertheless, the business was performing gradually bad and the profit was declining significantly. This might primarily attributed to the emergence of new competition; two other petrol stations were operated at the same location. At the same time, an old colleague of Mat Jon, Robert Leung has made an offer to acquire and buy his business regardless of knowing the unfavorable condition the station was stumbling. As a result, he asked Jamel to prepare him the financial performance and he had to analyze it carefully before considering accepting Robert’s offer. After he made the assessment on the financial position of the business for a three recent years, Mat Jon discovered a few abnormal in the reports Jamel had given him. He met Jamel and started giving a lot of questions and...
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