Tuesday, September 25, 2012

parliament should debate the back-door accrual accounting implementation in public account

Most mp of m'sia does not realise govt are on the way to implement accrual without passing any law unlike uk, australia & nz This move although positive, tend to manipulate govt deficit spending by capitalising it's assets rather than expensed it off The implementation are expected to be in 2015 together with outco me based budgeting and thehanging gst Opposition mp must raise this issue so the nation can have a similar 'Account 2000 Act' like in UK before implementing accrual on public account Suspicious thing in changing the format of reporting our nation financial position can be seen as a move to mislead policy maker and should be condemn. Huh