Treasury Management Practices at Universiti Utara Malaysia

The purpose of the study is to evaluate the effectiveness of treasury management practices at Universiti Utara Malaysia (UUM). Respondents of the research are the Bursar and a senior officer of the UUM’S Bursar Department. The type of research is a comparative study and the instruments of information collection used were through questionnaires and interviews. Descriptive method was employed in analyzing the data. The gathered information was compared with the Code of Practice on Treasury management by The Chartered Institute of Public Finance and Accountancy (CIPFA), which is being adopted by University of Oxford, United Kingdom. Result of the research shows that the UUM’S Bursar Department does not fully adopted all the Code of Practice on Treasury management by The Chartered Institute of Public Finance and Accountancy (CIPFA). However, UUM has partially adopted the treasury management practices such as in cash flow forecasting, investment, money laundering, staff training, reporting, performance measurement, and budgeting, accounting and auditing. This study is able to create awareness in understanding the importance and the function of treasury management. In reality, treasury management practice becomes more relevant to UUM in view that its stakeholder, the Government of Malaysia, might reduce future financial assistance. Moreover, UUM is already experiencing reduction of financial resources from government. Therefore, to ensure the optimal practice of treasury management, a framework on treasury management has been established to act as a guidance for the Bursar Department of UUM. Lastly, further research need to be done involving other public higher education institutions, so that a standard policy on treasury management practices for the whole public higher education institutions in Malaysia can be made a reality

The establishment of the Institute of Chartered Accountants of India (ICAI): the first step in the development of an accounting profession in post-independence India

This paper analyses the influence of culture and politics on the establishment of the Institute of Chartered Accountants of India (ICAI) using a theoretical framework, extending the work of Gray (1988) and McKinnon (1986) in which accounting change is analysed into three phases, a source phase, a diffusion phase and a reaction phase. The ICAI is established in a way which is in line with the cultural and social context of India with the ICAI set up under parliamentary charter promulgated through the parliamentary system and with government involvement in the council of the ICAI. In particular, the analysis shows the importance of the relationship between the state and the accounting profession in determining the outcome of accounting change, with in this case, the balance of power being in the hands of the Government

Accounting education at a crossroad in 2010 and challenges facing accounting education in Australia

Of the various reports released in 2010, two purport to examine the state of accounting education in Australia. These are Accounting Education at a Crossroad in 2010 and Challenges Facing Accounting Education in Australia. Both were released as collaborations of the leading academic organisation, the Accounting and Finance Association of Australia and New Zealand (AFAANZ) or professional accounting bodies in Australia including the Institute of Chartered Accountants in Australia (ICAA), the Institute of Public Accountants (IPA),1 and Certified Practising Accountants of Australia (CPA Australia). As their titles imply, the main thrust of these reports is to examine the challenges facing accounting education in Australian universities and, as such, they act as the input for this AE Briefing. The main challenges articulated in these reports portray a sector suffering from the combined pressure of a large international student enrolment, high student-to-staff ratios, an inadequate funding model, and an ageing academic staff profile. By way of commentary, we suggest that, if these gloomy circumstances continue to develop unabated, then the future for the sector will play out as a &lsquo;perfect storm&rsquo;2 with the sector suffering on-going troubled development.<br /