Abstract: The move from cash accounting to accrual accounting, or rule-based to principle-based accounting, by many governments is part of an ongoing efforts in promoting a more business-like and performance-focused public sector. Using questionnaire responses from preparers of financial statements of public universities in Malaysia, this study examines the implementation challenges and benefits of principle-based accounting. Results from these responses suggest that most respondents perceived significant costs would be incurred in relation to staff training and recruitment of staffs with relevant technical knowledge. In addition, most respondents also perceived that there will be significant changes in the current accounting system and structure in order to comply with the principle-based accounting requirements. However, most respondents perceived that these changes might not result in significant benefits for management purposes, for example, financial management, budgeting and allocation of resources. Nevertheless, most respondents perceived that principle-based accounting information would facilitate the monitoring function of the board. The general perception is that adoption of principle-based accounting information is not significantly useful than rule-based accounting information is expected to change over time as preparers of the financial statements gradually understand and appreciate the benefits of principle-based accounting information. This infers that the perceived usefulness of different accounting system is a function of familiarity by the preparers.
Abstract: This study examines the effect of Islamic Corporate
Social Responsibility disclosure and on corporate reputation as well
as performance. These relationships are examined based on content
analysis of of annual reports of 17 Islamic banks in Malaysia for
2008, 2009 and 2010. Results of this study provide evidence that
CSR activities communicated in corporate annual reports are
significantly positively related with corporate reputation as well as
firm performance. These results indicate that CSR activities and
disclosure from Islamic perspectives are equally important business
strategies in creating continuous superior performance for
organisations. In addition, it also highlights that organisations need to
develop a stakeholder orientation particularly in an environment of
increasing pressure from jurisdictions dominated by Islamic
stakeholders on organisations engaging in Islamic products to
increase their social responsibilities from the Islamic perspectives.