Accounting Theory Development
DEVELOPMENT OF ACCOUNTING THEORY IN MALAYSIA
LECTURER: DR. ROSMILA SENIK
GROUP MEMBERS: AHMAD SABRI IZZAT BIN RAMLI 134918 ROSMALINDA BT ISMAIL 135047 MOHD SHUKRY BIN MD TAIB 134820 ILY IRYANI ISTIHAR 135272
Introduction
Studies of accounting development in Malaysia more focus on the politics of multiculturalism. In Malaysia, the meaning and content of development in the 1970 and beyond is found in the New Economic Policy (NEP) which spells out the twin objectives of socio economic development for national unity, namely, the eradication of poverty irrespective of race and the restructuring of society. It is to eliminate racial economic predominance (S.Susila Dewi, Chapter 5: Economic and Accounting Development in Malaysia, Accounting Theory and Practice, a Malaysian Perspective. Pg 89-90.). Next, we provide a historical perspective of economic and accounting in Malaysia, focusing on the role played by the state, and its relationship to the various group within the economy. Economic policies are incorporated in the Five Year Development Plans, and the development in accounting as well as the emergence of interest group and their interaction with the state. Finally, we discuss the accounting development in Malaysia responded to the stages of economic development and the functions of the bodies that involve in standard development of accounting. Such as Malaysian Association of Certified Public Accountant (MACPA), Malaysia Institute of Accountant (MIA), Financial Reporting Foundation (FRF), and Malaysian Accounting Standard Board (MASB).
Definition of Accounting Theory Development
In accounting perspective, there are many definitions about the accounting theory. According to Braithwaite,R., 1968, a scientific theory is a deductive system in which observable
LECTURER: DR. ROSMILA SENIK
GROUP MEMBERS: AHMAD SABRI IZZAT BIN RAMLI 134918 ROSMALINDA BT ISMAIL 135047 MOHD SHUKRY BIN MD TAIB 134820 ILY IRYANI ISTIHAR 135272
Introduction
Studies of accounting development in Malaysia more focus on the politics of multiculturalism. In Malaysia, the meaning and content of development in the 1970 and beyond is found in the New Economic Policy (NEP) which spells out the twin objectives of socio economic development for national unity, namely, the eradication of poverty irrespective of race and the restructuring of society. It is to eliminate racial economic predominance (S.Susila Dewi, Chapter 5: Economic and Accounting Development in Malaysia, Accounting Theory and Practice, a Malaysian Perspective. Pg 89-90.). Next, we provide a historical perspective of economic and accounting in Malaysia, focusing on the role played by the state, and its relationship to the various group within the economy. Economic policies are incorporated in the Five Year Development Plans, and the development in accounting as well as the emergence of interest group and their interaction with the state. Finally, we discuss the accounting development in Malaysia responded to the stages of economic development and the functions of the bodies that involve in standard development of accounting. Such as Malaysian Association of Certified Public Accountant (MACPA), Malaysia Institute of Accountant (MIA), Financial Reporting Foundation (FRF), and Malaysian Accounting Standard Board (MASB).
Definition of Accounting Theory Development
In accounting perspective, there are many definitions about the accounting theory. According to Braithwaite,R., 1968, a scientific theory is a deductive system in which observable
References: Funston, John (2001). ("Malaysia: Developmental State Challenged". In Government and Politics in Southeast Asia, pg. 201 "Snag in policy implementation", pp