Question

1. Explain FIVE (5) main differences between the public sector accounting and private sector accounting in Malaysian environment.

Five main differences are;

a. Budgetary accounting

b. Vote accounting

c. Fund accounting

d. Financial year end

e. Accounting basis

f. Influence of rules and regulations

2. Identify five main components of the Malaysian government system and describes the power or roles each of them.

a. YDPA agung

Constitution (Article 20(2), the executive powers of YDPA has power in:

– Appointment of PM

– Not to consent to the dissolution of Parliament

– Request for a meeting of the Rulers’ Council

Roles and privileges

– The supreme head of state

– Acts on the advice of Parliament and PM except as above by his won discretion

b. Council of Ruler

Role of Council of Rulers

Article 38[2] FC stated:

← Selection of YDPA and his Deputy

← Approve of disapprove any law and gives advice on whatever appointment that requires approval or consultations of the Council under FC

← Appoints members of the Special Court Section 1 Article 182

← Grants pardon and postpones sentences under Section 12 Article 42

← Consider matters relating to national policies eg: amendments to the immigration policy etc.

c. The Parliament (Legislative body)

• power to make laws or to amend existing laws.

• to levy taxes or to change existing taxes

• to sanction expenditure of public money

• to approve budget

d. The Cabinet (Executive body)

Power to govern the country

• Power to formulate policies

• Policies implemented by govt. administrative agencies.

e. The Chief judge (Judiciary)

• power to hear and determine whether a person has...