August 31, 2018

By Associate Professor Norhasimah Abdul Aziz and Dr. Radziah Mahmud

Intangible assets are identifiable non-monetary items with no physical substance (Paragraph 8 of MFRS 138 Intangible Assets). These assets are separately identifiable or resulting from contractual or other legal rights. Variety intangible assets stated in Paragraph 9 of MFRS 138 include patented technology, computer software, internet domains, video and audio-visual material, trademarks, mastheads, customer lists, mortgage servicing rights, license, royalty and standstill agreement, import quotas, franchises, supplier and customer relationships, and marketing rights.

August 30, 2018

By Yusarina Mat Isa

Have we ever wondered what will happen to the money that we keep in the banks in the event ‘something wrong’ happens to the banks? Well, banks are business entities and obviously, there is a risk of them going bankrupt just like any other businesses (Al-Tamimi & Al-Mazrooei, 2007). With our robust financial system, a bank failure is remotely likely, but all risk foreseeability needs to be managed.

August 31, 2018

By Dr Maslinawati Mohamad, Siti Aisyah Kamaruzaman, Nur Quratun’ Aini Haron, and Emmarelda Maswesi Ahmad

Corporate communication is more necessary than ever in our digital age as the pace of change accelerates exponentially. As technology becomes more complex, digitization demands active communication for the ecosystem to survive and develop collaborative strategies with the users or customers (Deloitte U.K., n.d). Using various available apps can speed up the delivery of information to the users at large (Wagner, n.d.). This is why our Faculty of Accountancy’s Corporate Communication Unit makes use of all various available apps for effective communication. The improvement from the orthodox way of communication to the most effective ways make our unit more visible to our customers i.e., staffs, students and public at large who are now better informed of the happenings in and around the faculty. We also provide a platform whereby users experience a more interactive way of informing us about any updates regarding any events and consequently, we deliver just about any information in a very effective, efficient and timely manner. Not only does the usage of digital media or applications promote excitement in the working environment, our team members become more efficient as well as updates of our events and news are done promptly. It is through effective and open communications, we had managed to create a transparent and open platform for feedback which also enables our clients including all staffs to raise their concerns as well as suggestions anonymously.

August 31, 2018

Associate Professor Dr. Erlane K Ghani and Kamaruzzaman Muhammad

Introduction

Throughout the world, several key regulators have been advocating the need for Extensible Business Reporting Language (XBRL) and trumpeting this tool to be digitalizing the financial information value chain thus, bringing huge benefits to all relevant parties. Many companies have started to prepare XBRL-based financial reports and the momentum of such a practice is growing rapidly (Kernan, 2008). The Malaysian regulators have also seen the need for the companies to adopt XBRL as a necessity to improve financial reporting. XBRL assists relevant parties in achieving the objectives of the accounting framework in terms of relevance, consistency, timeliness, and accuracy. The parties who are involved in the preparation and use of financial information such as the preparers, investors, financial advisors, and regulators would have greater access to the financial information since XBRL uses the Internet as the medium of communication and transmission of information.

August 31, 2018

By Adnan Zainal Abidin

Universiti Teknologi MARA (UiTM) offers various accounting programs to qualified candidate. This includes diploma and bachelor’s degree at the undergraduate level, professional programs and programs at postgraduate level. The Faculty of Accountancy UiTM (faculty) receives many applications for its diploma programs. It is important for the faculty to select the right candidates to ensure that not only they complete the diploma program but also qualify to enroll in the bachelor’s degree programs.