Abdullah, Zaimah and Shaari, Hasnah and Chandren, Sitraselvi and Mohd Ariff, Arifatul Husna (2020) From fawn to deer: Measurement of a biological asset. Project Report. UUM, Sintok. (Unpublished)

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Abstract

Every morning Azri uses the same path heading to his office in Universiti Utara Malaysia (UUM). Every time he enters the UUM's entrance, the green scenery and the fresh air of UUM's tropical lush never fail to impress him. The ambience of UUM is so peaceful and calm. UUM is known as the 'University in a Green Forest'. It is watered by two rivers that flow along the middle of the campus. Azri pulled his deepest breath. "Fresh!" he whispered. Moving around the campus, he can see the ostrich, horse, peacock, duck, deer and many more animals that become the main attraction to those who come to UUM. As long as he can remember, these animals are reported as 'living assets'. Mr Azri is the UUM's accountant at Bursar Department, and he started to mainly review these assets after he had been transferred to the Asset Unit as the head of the unit. Not only 'living assets', but this unit was also made responsible to in charge the entire assets in UUM. In terms of reporting, the task of his group is to prepare the financial report of UUM's assets, including the 'living assets'. Suddenly, his tranquillity was disturbed. He remembered the order came by the UUM's Bursar last week, to accurately recognize, measure and disclose the value of 'living assets' according to appropriate accounting standard. All this while, UUM was using Malaysian Private Entities Reporting Standards (MPERS) in reporting and preparing the UUM's financial statements. Recently, the Malaysia Public Sector Accounting Standard (MPSAS) has been urged to be used to replace MPERS in reporting and preparing the UUM's financial statements. Azri thought whether to change the current Standard and if so, how to treat and disclose biological assets under the new accounting Standard.

Item Type:	Monograph (Project Report)
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User:	Mrs. Norazmilah Yaakub
Date Deposited:	22 Dec 2020 01:46
Last Modified:	22 Dec 2020 01:46
URI:	https://repo.uum.edu.my/id/eprint/27988

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