1 | Page Hubungi kami di: https://www.facebook.com/fpnuitmn9s3 https://nsembilan.uitm.edu.my/seremba n/index.php/component/sppagebuilder/? view=page&id=13 D iterbitkan oleh: Universiti Teknologi MARA (UiTM) Cawangan Negeri Sembilan Kampus Seremban Persiaran Seremban Tiga/1 Seremban 3 70300 Seremban Negeri Sembilan, MALAYSIA Tel : 606-6342000 Faks : 606-6335812 Perpustakaan Negara Malaysia Penafian: Sebarang maklumat yang terkandung dalam majalah ini merupakan pengetahuan dan pendapat peribadi penulis artikel. Pembaca dinasihatkan untuk mendapatkan pandangan profesional sebelum mengikuti manamana maklumat dalam majalah ini. Pihak universiti, penerbit dan sidang redaksi tidak akan bertanggungjawab dan menanggung sebarang risiko atas kerugian secara langsung atau tidak langsung atas maklumat yang dipaparkan. Penaung : Prof. Dr Yamin Yasin Penasihat: Dr Suhaimi Abdul Samad Pengerusi: Dr Salwa Muda Penyunting: Dr Dalila Daud PM Dr Eley Suzana Kasim Dr Norlaila Md Zin Dr Raziah Bi Mohamed Sadique Dr Salwa Muda Rafizan Abdul Razak Penyusun Bahan : Wan Asma Wan Nasrudin Musliha Musman Susun Atur Dalaman : Siti Mariam Abdul Halim PM Noryati Md Noor Ida Haryanti Mohd Noor Siti Hawa Shuid e I S S N : Akma Hidayu Dol @ Abdul Wahid Amariah Hanum Hussin Pereka Grafik: Norhidayah Ismail Ja’izah Abdul Jabar Saflina Azis Wan Mardyatul Miza Wan Tahir Hak Cipta Terpelihara © FPN 2022
2 | Page Isi Kandungan: Perkara Muka Surat Dari Meja Pengarang……………………………………………………………………………...... 3 A Summary of the MIA-MICPA Tax Governance Guide's Fundamentals...………………...... 4 Machine Learning in Accounting: An Introduction................................................................... 6 SMEs in Malaysia: History and Development......................................................................... 8 What are Government-Linked Companies (GLCs)?............................................................... 10 5 Sebab Kenapa Perlu Bercuti Di Legoland Malaysia Resort................................................. 12 OPR Naik? Apa Yang Patut Kita Tahu.................................................................................... 15 Start Building Your Family Ancestry........................................................................................ 17 Integrated Reporting: Engaging Sustainability Assurance...................................................... 20 Pengenalan Dan Kepentingan Dokumen Sumber Dalam Rekod Perakaunan Dan Perniagaan.............................................................................................................................. 22 Tax Relief for Year of Assessment 2021: 10 Tax Changes Taxpayers Should Know............ 24 Kepentingan Penyata Penyesuaian Bank Untuk Perniagaan Milikan Tunggal Atau Perseorangan.......................................................................................................................... 26 Program Pensijilan SQL Accounting Software Oleh E Stream MSC Sdn Bhd: Satu Pertambahan Nilai Untuk Graduan Bagi Memenuhi Permintaan Sektor Pekerjaan Yang Semakin Mencabar................................................................................................................. 27 The Importance of Tax Knowledge to Combat Tax Evasion................................................... 30 Sesi Perkongsian Maklumat: Collaborative Teaching............................................................. 31 Ceramah Percukaian Individu: Rahsia Jimat Cukai................................................................ 32 Pencapaian Fakulti.................................................................................................................. 33
3 | Page Alhamdulillah, our first bulletin for 2022 is finally ready for viewing. Thank you to all the faculty members for their contribution and hard work in ensuring the success of this bulletin. Moving into the endemic era, life is getting busier than before, but somehow, they can write and share their knowledge with readers. It is hoped that what little knowledge there is, can be shared with others, and may we benefit from it. Though the publishing of this issue is late, it’s better late than never! Dr Raziah Bi Mohamed Sadique Ketua Pengarang Fakulti Perakaunan UiTMCNS Kampus Seremban
4 | Page A Summary of the MIA-MICPA Tax Governance Guide's Fundamentals Wan Asma Wan Nasrudin Tax reporting, comprising tax strategy, tax risk management, and tax management, develops credibility and trust in an organisation's tax processes, enabling investors and other stakeholders to make informed decisions based on a company's tax position and other variables. The Malaysian Institute of Accountants (MIA) and the Malaysian Institute of Certified Public Accountants (MICPA) jointly issued the Tax Governance Guide to assist directors of listed issuers in reporting tax management in annual reports. The guidance increases the tax transparency of listed issuers. As stakeholders request information regarding a company's tax policy, strategy, and other tax issues, greater tax transparency is becoming the norm. The MIA-MICPA Tax Governance Guide is composed of the following elements: 1. Tax Strategy Tax governance is based on a sound tax strategy. It serves as the framework for tax governance initially. As part of a tax strategy, it is essential to analyse the company's objectives and core values, as well as the tax payment model. A tax method for the organisation is specified, which influences the other four components as well as their design and implementation. Involving both internal and external stakeholders in the design of an organisation's strategy, including its tax strategy, is a crucial element in the long-term business planning process. An organisation's stakeholders' extensive participation in various topics may be utilised for tax purposes. The requirements and expectations of investors and other stakeholders are better understood when the organisation interacts closely with these groups. After that, they might be included in the organisation's tax plan. If the organisation's tax strategy is to be effective, it must be adopted and adequately incorporated into the organisation's behaviour. 2. Tax Roles and Responsibilities Priority is given to roles and duties after tax strategy. It is the second pillar of tax governance. Tax matters are under the cautious eye of the Board of Directors at the strategic level. At this level, a corporation must determine, among other things, whether to adopt a central or decentralised model, use shared service centres, and outsource or manage tax service providers in-house when it comes to tax issues. Consistent with international standards, it is typical for this to be incorporated in corporate governance. Communication and/or training should be provided to operational-level staff to assist them in comprehending their jobs and responsibilities. 3. Tax Risk Management Management of tax risk is the third pillar to be implemented. The present risk management framework must be modified to incorporate tax consequences. The tax risk management framework includes taxrelated controls. The Board must be aware of tax issues and ensure that all processes and transactions, including tax procedures and transactions, are subject to appropriate controls. Identification of tax risk is essential for the implementation of protections in this circumstance.
5 | Page The foundational aspect of a company's tax strategy is crucial for describing and developing tax regulations. In other words, the tax control system should ensure that the company fulfils its commitments to its stakeholders and reports on them in its annual report. 4. Tax Reporting (Tax Transparency) Tax reporting constitutes the fourth pillar of tax governance. There are two types of tax reporting: internal reporting by the company's management and external reporting, generally by the external auditor. The information may cover both monetary and non-monetary tax issues. As investors strive to make betterinformed investment decisions, non-financial information is becoming increasingly essential in the current environment. This type of tax reporting may be required by law. In order to meet the needs and expectations of investors, businesses might also freely reveal their tax information. In this instance, the Board must determine what tax information should be made available to the general public. 5. Tax Assurance Tax governance concludes with the assurance of tax compliance. The opinion of an independent specialist enhances the credibility of the tax data. When substance-based assurance is provided, the value of such reports increases dramatically. In order to stay abreast with global ESG (Environment, Sustainability, and Governance) agenda trends, the Tax Governance Guide is for executives of publicly traded companies. "These advancements in tax transparency would increase trust and credibility in listed issuers' tax processes and allow investors and stakeholders to make informed decisions," said Dr Veerinderjeet Singh, former president of the MIA and MICPA. Now is the right time for a firm to include taxation into its goal, value, and long-term business strategy. Reference: Malaysian Institute of Accountants (MIA) and the Malaysian Institute of Certified Public Accountants (MICPA) 's Tax Governance Guide – https://www.mia.org.my/v2/downloads/resources/publications/2021/11/17/MIA_Tax_Governance_Guide.pdf
6 | Page Machine Learning in Accounting: An Introduction Wan Mardyatul Miza Wan Tahir Jaízah Abdul Jabar achine Learning is an application of Artificial Intelligence (AI) in which computers use algorithms to learn and recognise patterns. Technically, it enables systems to learn from data without having to be programmed. Machine learning was eventually incorporated into our daily lives, such as on social media. Have you noticed that when you click on an article on Facebook on a specific subject, such as property, more suggestions for articles and advertisements regarding property and related subjects appear during your Facebook browsing? This is because the system uses data, such as user browser history, to try to anticipate what you might like. Hence, by looking at the connection of machine learning's on everyday life and business operations, specifically in accounting, undoubtedly it is expected the impact of that to be greater in the future than few years back. (Source: https://data-flair.training/blogs/machine-learning) In this brief introduction, the discussion of the influence of machine learning on accounting will be divided into three areas of the accounting process which include (i) accounting, (ii) auditing and (iii) taxation. Accounting Machine learning algorithms can switch human tasks since technology takeover in business transactions, which transform from physical documents into digital copy. As such, accounting processes such as recording and reconciling hundreds of transactions of expenses and accounts payable are simply turned automated by using machine learning. The timing for repetitive jobs will be reduced and humans merely focus on complex tasks. The following figure shows an example described by Izhar Haq et al. (2020) of the process in account payable replace by machine learning: Invoice received Match with Purchase Order Identify Accounts to be charged Payment released after verification by personnel M
7 | Page Although part of this process sounds like robotic process automation (RPA), “the difference between RPA and machine learning is that RPA lacks any built-in intelligence, while machine learning's intelligence lies somewhere between RPA and AI” (Volkenburgh, 2021). For example, let say a supplier sends unfamiliar documents, RPA will not be able to recognise it since it’s not accustomed with the document, while machine learning is able to learn from historical data and make predictions about the document. Auditing By deploying machine learning the audit sampling will be the entire transaction as compared to traditional sampling techniques which is selected at random from the population. As such, it increases audit efficiency thus eliminating sampling risk. Application of machine learning in auditing process can be explained as follow: Given that, the auditor can be formulising audit plan for further audit testing and gathering of audit evidence since the adoption of machine learning helps in identifying red flags where likely fraud is predicted. Consequently, this evolution allows auditor to focus on areas that require higher-level professional judgement (Dhoraisingam et al., 2021). Taxation Machine learning is suitable for developing algorithms that are updated with changes in the tax laws and extracting relevant tax planning information from large volumes of data. Many benefits can be enjoyed by tax administration from this, for example reducing repetitive tasks such as classifying and extracting information, being able to adjust accordingly to changes in tax regulation, detecting abnormalities such as fake invoicing and being able to predict tax avoidance cases. Below is the example of machine learning in tax audit process: Conclusion The accounting profession needs to adapt with the evolution of technology such as machine learning and AI in order to cope with its effect on business nowadays. The use of machine learning in the accounting profession is not only able to save time but is able to produce significant information for accounting strategic knowledge work and value-added tasks. References Izhar Haq, Michael Abatemarco, and Jeffrey Hoops (2020), The Development of Machine Learning and its Implications for Public Accounting, Featured, Uncategorized, June 2020 Issue, Technology (https://www.cpajournal.com/2020/07/10/) Brandon Van Volkenburgh (2021), RPA Vs. AI Vs. Machine Learning: A Comparison, (https://www.crowdreason.com/blog/rpa-vs-ai) Shyamala Dhoraisingam, Ravichandran K. Subramaniam and Ravindran Ramasamy (2021), Use of Artificial Intelligence (AI) on Accounting Transactions to Enhance Audit Quality, DECEMBER 8, 2021, (https://www.at-mia.my/2021/12/08/) Examining 100% of the transactions Analyse for unusual transactions Identify deviations/ variations Pattern matching Fraud prediction Tax avoidance prediction Identify unusual transactions/documents and pattern Perform analysing entire transactions Classify entries suitable for corporate tax filing Recategorising entries in Financial Statements
8 | Page SMEs in Malaysia: History and Development Dr Salwa Muda Musliha Musman Small and Medium sized enterprises (SMEs) have significantly contributed to the Malaysian economy since the early dependence phase, which relied on the agriculture sector as the main source of the nation’s income until today’s economy that depends on manufacturing and services sectors. SMEs play vital roles as the engine of growth through employment opportunities, major sources of technological and product innovation, and poverty reduction through providing employment to poor and low-income workers especially in poor regions and rural areas. Besides the functions of SMEs as an important tool for a competitive and efficient market, they also prove their significant contribution in stimulating Malaysia’s economic expansion and fulfilling the socioobjectives. Despite their small size, the contribution of the Malaysian SMEs in enhancing the economic development and fulfilling the social needs of the nation indicates their important role in strengthening the country to face the resilient challenges in today’s knowledge economy. SMEs in Malaysia are defined according to the annual turnover or number of full-time employees. Starting from 2005, a formal definition of SMEs endorsed by NSDC is based on the annual turnover and number of full-time employees that have been used by ministries, agencies, financial institutions and regulators involved with SME development programmes. Table 1 New definition of SMEs by sector and size of operation Size/ Sector Manufacturing Services and other sectors Micro Sales turnover is less than RM300,000 or full-time employees are less than 5. Sales turnover is less than RM300,000 or full-time employees are less than 5. Small Sales turnover from RM300,000 to less than RM15 million or full-time employees from 5 to less than 75. Sales turnover from RM300,000 to less than RM3 million or full-time employees from 5 to less than 30. Medium Sales turnover from RM15 million to not exceeding RM50 million or full-time employees from 75 to not exceeding 200. Sales turnover from RM3 million to not exceeding RM20 million or full-time employees from 30 to not exceeding 75. Source: www.smecorp.gov.my The Malaysian economy highly relied on rubber and tin as a commodity-based economy which contributed to 70% of total export income and 36% of total employment during the early dependence phase from 1957-1970. In the 1960s, the agriculture, manufacturing and services sectors became the main activities with the aim to increase the economic structure and at the same time focus on poverty alleviation, especially in rural areas. The First Malaysia Plan (1966- 1970) was launched in 1965 with the objective to promote the welfare of all citizens, especially those with low income in rural areas (Economic Planning Unit 2013). The solution to problems related to SMEs such as insufficient funds and lack of access to commercial bank credit facilities also became the main agenda of this framework. During the period 1970-1983, the high growth in the Malaysian economy indicates that the First Malaysia Plan (1966- 1970) programmes succeeded. However, the unalleviated poverty and imbalance of wealth due to different levels of economic achievement among different ethnic groups forced the government to formulate the New Economic Policy (NEP) (1971-1990). Among the programmes introduced were providing farmers with better agricultural facilities, better social services such as health and education as well as the establishment of statutory bodies such as Majlis Amanah Rakyat (MARA) and Malaysian Agriculture Research and Development Institute (MARDI) as the government intermediaries. The increments in the economic growth rate of 9.3% from 1988-1990, the higher contribution of private sectors in the economic development compared to public sector in 1989, the rapid expansion of the manufacturing sector,
9 | Page the lower rate of poverty and the large number of Bumiputera participation in all sectors indicated the big achievements of programmes formulated under NEP. During this period, the Malaysian government provided various assistance for SMEs through strategies highlighted in the Second Malaysia Plan (1971-1975), Third Malaysia Plan (1976-1980), Fourth Malaysia Plan (1981-1985) and Fifth Malaysia Plan (1986-1990). • The Second Malaysia Plan (1971-1975) - Strengthening the SME sector by developing Bumiputera entrepreneurship, enhancing the production and employment rate, reducing the wealth gap among the nation, and balancing the businesses and industrial activities. • The Third Malaysia Plan (1976-1980) and the Fourth Malaysia Plan (1981-1985) became the platform for SMEs to serve as training and entrepreneurship development ground for better future of SMEs as part of major contributors to the nation’s economy. The National SME Development Council (NSDC) was established in 2004 with the aim to promote the development of Malaysian SMEs through coordinated and comprehensive approach with the assistance of 15 ministries and four agencies. In June 2008, NSDC established a new agency named SME Corporation Malaysia (SMECORP) to perform roles in formulating policies and coordinating programmes for SMEs, acting as a centre for any information and advisory services related to SMEs, and conducting research on SMEs. The government then introduced the SME Masterplan (2012-2020) in 2010 as the recognition towards the contribution of SMEs in transforming the nation’s economy to a higher level of achievement. With the focused areas of innovation and technologies, human capital development, access to finance, access to market, legal and regulatory environment and infrastructure, the Masterplan was formulated to provide SMEs with comprehensive approaches and strategies to assist the country in achieving a high-income nation status by 2020. To date, the number of establishments has increased by more than 140,000 firms as compared to a total of 1,086,157 SMEs in 2016 (DOSM, 2021). This indicates an average growth rate of 5.2% per annum during the six-year period. Source: www.smecorp.gov.my
10 | Page What are Government-Linked Companies (GLCs)? Musliha Musman Dr Salwa Muda Malaysian GLCs are deemed as hybrid organizations since the companies must achieve financial returns while fulfilling their social responsibilities (Mat Isa, C. M., Razak. M.T., Mustaffa. N.K., 2020; Norhayati & Siti-Nabiha, 2009). Previously, the GLCs were government organisations or public companies that had been privatised throughout the 1980s. This privatisation policy is based on two major objectives (Abdul Hamid, 2008). First, the policy would speedily achieve the New Economic Policy’s goal in providing more avenues for Bumiputera businesses to participate in the economic activities. Second, privatisation would reduce the government’s burden in providing essential services to the public. Despite the privatization, the government still holds a substantial ownership in these companies through Government-Linked companies (GLICs) (Mat Isa et. al, 2020; Norhayati & Siti-Nabiha, 2009; Abdul Hamid, 2008). Malaysian GLICs include Khazanah Nasional, Minister of Finances (MoF Inc), Kumpulan Wang Amanah Pencen (KWAP), and Bank Negara Malaysia (BNM), Permodalan Nasional Berhad (PNB), Employees Provident Fund (EPF) and Tabung Haji. In addition to holding a controlling stake, the government, through the GLICs, can choose board members and senior management and make significant decisions (e.g., contract awards, strategy, restructuring and financing, acquisition and divestment etc.). In order to strengthen the GLCs, the Malaysian government launched the GLC Transformation Program from 2004 to 2014 as part of the ongoing effort to promote the development and growth of the economy. The GLC Transformation Program is important crucial to Malaysian development because the GLCs and GLICS constitute a significant part of the economic structure of the nation. There are three underlying principles of the GLC Transformation including (www.pcg.gov.my): a. National development foundation – the GLC Transformation Program is a subset of the broader national development strategies that include the principal growth with equity, improve total factors productivity, develop human capital, and develop the Bumiputera community. b. Performance focus – the underlying rationale of the GLC Transformation Program is to create the economic and shareholders’ value through improved performance at the GLCs. c. Governance, shareholders value and stakeholder management Even though, GLCs main aim is to increase the economic and financial benefits to shareholders, the GLCs will benefit all the stakeholders and contribute to Malaysia’s future wellbeing. For example: a. Higher service and quality levels for customers b. Better job prospects in more dynamic GLCs c. Increased transparency favouring higher value-for-money suppliers, with reduced levels of leakages and inefficiencies d. Continued development of the Bumiputera community – with better skilled and more competitive Bumiputera
11 | Page Regarding market capitalisation, GLCs make up 42 per cent of Bursa Malaysia. GLICs, on the other hand, oversee RM440.4 billion in assets, or 24.9 per cent of the local stock exchange's entire market capitalisation. In 2021, the government had announced an initiative to strengthen the role and capabilities of Malaysia, particularly in terms of the operating landscape which has quickly changed following the Covid-19 pandemic. The GLC's functions and roles have been reorganised to invigorate a change by rebuilding the country's economy in stages so that the socioeconomic advantages are inclusive and obtained by all Malaysians. The targets of the initiative include restructuring entities within GLC to optimise the government’s fiscal resources, improving management, hitting targets, spurring new growth through strategic sectors and invigorating investments in the sustainable industry. References Abdul Hamid, A. (2008). The corporate governance structure of GLCs and NGLCs and firm performance in Malaysia. Unpublised PhD.Thesis.University of Exeter . Mat Isa, Che Maznah; Razak, Muhammad Taufiq; Mustaffa, Nur Kamaliah. (2020). Implementation of Risk Management in Construction Projects for a Government-Linked Company (GLC). International Journal of Business and Technology Management, [S.l.], 2(2), 28-38, Norhayati, M., & Siti-Nabiha, A. (2009). A case study of the performance management system in a Malaysian government linked company. Journal of Accounting & Organizational Change, 5 (2), 243-276. https://www.thestar.com.my/news/nation/2022/03/13/glcglics-role-in-making-malaysia-a-developed-nation
12 | Page 5 Sebab Kenapa Perlu Bercuti Di Legoland Malaysia Resort Ida Haryanti Mohd Noor Setiap keluarga pasti tertunggu-tunggu dengan kehadiran cuti sekolah. Inilah masa yang akan digunakan oleh ibu bapa untuk membawa anak-anak melancong. Tidak kira samada bercuti di dalam negara ataupun luar negara, pastinya cuti sekolah akan digunakan dengan sebaik-baiknya bagi meluangkan masa bersamasama seisi keluarga. Terdapat pelbagai tempat menarik di Malaysia yang boleh dikunjungi oleh setiap keluarga sepanjang cuti sekolah. Pastinya, ibu bapa akan cuba mencari tempat percutian yang sesuai untuk seluruh isi keluarga. Bagi ibu bapa yang mempunyai anak kecil, semestinya mencari tempat percutian yang mesra kanak-kanak menjadi keutamaan. Berdasarkan pengalaman penulis, Legoland Malaysia Resort merupakan salah satu tempat percutian yang mesra kanak-kanak yang wajib dikunjungi oleh seisi keluarga apabila tibanya cuti sekolah. Berikut merupakan lima sebab kenapa setiap keluarga perlu bercuti di Legoland Malaysia Resort: 1. Taman tema, taman air dan taman hidupan laut yang menyeronokkan Legoland Malaysia Resort menyediakan tiga jenis taman buat seisi keluarga iaitu taman tema, taman air dan taman hidupan laut. Dengan harga tiket yang berpatutan, ketiga-tiga taman ini menyediakan berpuluh jenis permainan yang sangat menyeronokkan untuk segenap lapisan umur.
13 | Page 2. Bilik mengikut tema yang disukai kanak-kanak Hotel yang berkonsepkan sebuah istana lego di mana dekorasi bilik hotel direka mengikut tema karakter lego merangkumi tema ‘pirate’, ‘adventure’, ‘kingdom’ dan ‘ninjago’. Setiap sudut bilik dan hotel dihias dengan karakter lego yang menjanjikan keriangan untuk kanak-kanak. 3. Hidangan di restoran menepati cita rasa kanak-kanak Setiap restoran yang ada di hotel dan ketiga-tiga taman bukan sahaja menyediakan hidangan yang menyelerakan malah menepati cita rasa kanak-kanak. Jadi, ibu bapa tidak perlu risau mengenai makanan si kecil apabila melakukan pengembaraan di Legoland Malaysia Resort.
14 | Page 4. Tempat bermain di mana-mana Bermula dari lobi hotel, kanak-kanak telah dihiburkan dengan pelbagai persembahan dan juga permainan. Antaranya ialah membuat lego, bergambar dengan karakter lego, aktiviti bercerita, aktiviti mewarna, membuat belon, bermain permainan Xbox, membuat piza dan pelbagai lagi aktiviti yang pastinya menambat hati kanak-kanak. Bukan itu sahaja, keriangan ini kemudiannya disambung lagi apabila berada di ketiga-tiga taman. 5. Hospitaliti terbaik Legoland Malaysia Resort menyediakan fasiliti yang lengkap dan sangat mesra untuk seisi keluarga. Kemudahan yang disediakan memenuhi keperluan dari anak kecil sehingga orang dewasa. Antaranya ialah bilik bayi, surau, ruang rehat, tempat makan dan pelbagai lagi. Tidak dilupakan, staf di hotel dan ketiga-tiga taman yang banyak membantu dalam merealisasikan impian seisi keluarga semasa bercuti di sini. Semoga perkongsian kali ini dapat memberi idea buat ibu bapa dalam memilih tempat percutian bagi musim cuti yang akan datang. Namun, harus diingat bahawa pandemik Covid-19 masih belum berakhir. Dalam mencari keriangan semasa bercuti nanti, pastikan setiap keluarga mengamalkan langkah-langkah keselamatan yang telah ditetapkan bagi memastikan kesihatan setiap ahli keluarga dilindungi.
15 | Page OPR Naik? Apa Yang Patut Kita Tahu Ja’izah Abdul Jabar Wan Mardyatul Miza Wan Tahir Kenaikan ‘Overnight Policy Rate’ (OPR) atau kadar dasar semalaman menjadi antara topik ekonomi terkini yang hangat dibincangkan, bukan hanya di kalangan sarjana dan pakar ekonomi, bahkan rakyat jelata. Kenaikan daripada 1.75% kepada 2.00% bukanlah yang tertinggi dalam sejarah ekonomi negara (pernah mencapai 3.5% pada 2008), namun himpitan ekonomi kesan daripada pandemik menyebabkan keluh kesah rakyat kian berpanjangan. Kesan kenaikan ini pastinya menjadi beban baru golongan B40, sementelah M40 juga merasa tempiasnya. Jika begitu, apa relevannya keputusan Jawatankuasa Dasar Monetari (MPC) Bank Negara yang bertindak sebagai ‘approver’ dalam isu ini? Justeru, kefahaman secara ‘total’ diperlukan untuk memastikan sembang-sembang berkaitan OPR ini disokong oleh fakta kukuh dan bukan melalui spekulasi terbabas sendiri. Mari kita fahami kesan kenaikan OPR secara lebih holistik yang merangkumi sudut pandang kedua-dua belah pihak, pelaksana dan rakyat jelata. Definisi OPR OPR merupakan singkatan kepada kadar dasar semalaman yang ditetapkan oleh bank negara Malaysia bertujuan mengawal dan menjaga takat rizab tunai (kecairan) sesebuah institusi kewangan (perbankan). Dalam erti kata yang lebih mudah, OPR merujuk kepada kadar faedah untuk institusi kewangan yang meminjamkan wang antara satu sama lain untuk tempoh satu malam. Melalui penetapan kadar ini, OPR berfungsi memastikan jumlah tunai yang dimiliki oleh sesebuah bank berada pada tahap memuaskan. Jumlah dan takat rizab tunai itu sudah semestinya dipengaruhi oleh peratusan faedah pinjaman antara institusi kewangan yang saling bergantungan untuk urusan meminjam dan memberi pinjaman. Antara kesan kenaikan OPR yang membimbangkan termasuklah: 1. Melihat daripada persepsi seorang peminjam atau individu yang berhutang dengan mana-mana institusi kewangan, kenaikan OPR secara langsung menambah beban hutang disebabkan kenaikan kadar faedah. Jumlah ansuran bulanan akan meningkat dan ini pastinya meningkatkan jumlah perbelanjaan bulanan. Bahkan, bayaran semula untuk pinjaman perumahan, kereta dan pinjaman peribadi baru akan naik. 2. Syarat layak pinjaman daripada mana-mana institusi kewangan akan diperketat. Rentetan daripada penurunan tahap kebolehpinjaman, institusi kewangan turut mengenakan syarat yang lebih rumit untuk perolehan pinjaman. Ini sekali gus menyukarkan peniaga-peniaga kecil untuk perolehan dana tambahan.
16 | Page Keadaan ini menjadi punca kebimbangan sebahagian pengkaji ekonomi yang meramalkan pertumbuhan ekonomi yang lebih perlahan dan lemah, disokong pula dengan konflik geopolitik yang berterusan melibatkan negara besar dunia. Namun, sudut pandang pertumbuhan ekonomi global, termasuk bank negara, melihat kenaikan ini sebagai titik tolak pemulihan semula pertumbuhan ekonomi selepas melalui fasa pandemik. Ini kerana, kenaikan ini dilihat sebagai: 1. Peluang untuk menaikkan nilai mata wang negara (RM) kerana tindakan menaikkan OPR ini akan menarik perhatian pelabur asing membuat pelaburan di negara ini. Kenaikan OAR sekali gus menaikkan pulangan atas pelaburan mana-mana bank tempatan. Banyak mata wang asing dijangka masuk ke bank-bank tempatan kerana pelabur akan mendapat pulangan lebih tinggi sekali gus mengukuh ringgit. 2. Kawalan mengelakkan terjadinya inflasi di luar jangka. Meskipun rata-rata rakyat merasa seronok dengan kuasa beli yang tinggi, namun sekiranya tiada kawalan, maka akan menyebabkan berlakunya inflasi, yang mencetuskan lebih banyak kesan negatif kepada ekonomi negara. Justeru, peningkatan OPR bertujuan membendung aliran tunai yang sangat tinggi dalam pasaran sehingga menggugat kestabilan permintaan dan penawaran barang/perkhidmatan. Jelas dapat dilihat, tindakan bank negara menaikkan OPR bukanlah semata-mata meraih keuntungan daripada kadar faedah pinjaman/simpanan yang tinggi. Bahkan, keputusan ini turut mengambil kira kesejahteraan ekonomi jangka panjang. Sebagai warganegara yang bertanggungjawab, seharusnya kita mengambil tindakan bijak melalui polisi kenaikan ini dengan melebihkan tabungan dan meminimumkan beban hutang. Apa yang lebih utama adalah kawalan kendiri dalam berbelanja demi menjaga kesihatan ekonomi diri, keluarga dan negara. Sumber: Laman sesawang Bank Negara Malaysia, IProperty dan The Edge Market.
17 | Page Start Building Your Family Ancestry Noryati Md Noor Knowing your identity - Who are we? What are our family histories? Family histories you want to pass to your children so that they can pass to their children; and the pattern continues throughout the future generations. This study of our origins and those of our predecessors is known as genealogy. According to Else Churchill, a genealogist at the Society of Genealogists in London, in Campbell (2021) "Genealogy involves finding the relationships in your family and discovering who your ancestors are by using historical records and increasingly other resources to build up a story of your family." Stories of the hardships and successes of previous generations are shared to motivate present generations. Alas, the problem is not many people can name their great grandparents or great-great grandparents and more later generations. It is difficult to go beyond the grandparents! Majority can identify up to 3 generations. Beyond that, the common answer received will be ‘I don’t know, or I am not sure.’ How far can you go in naming all 4 of your grandparents, great-great grandparents, and other generations of grands. I can label only 4th generations – Noryati Binti Md Noor Bin Jambol Bin Abu Bakar@Suboh Bin “Tak tahu.” Unfortunately, I only know the name of my grandmothers but not my great-great grandmothers. I hope you have better success in identifying your ancestors. Normally, lineage of the 25 prophets and aristocratic members such as royalty are visible for multiple generations. The following image reproduced from shafiqolbu.wordpress.com depicted the generations of all the prophets from Adam (PBUH) to Muhammad (SAW).
18 | Page The late 20th century was evidenced by the booming of computer technologies, emergence of digital records through the genomic era (Rose, 2003). Genetic technology has evolved to not only identify families but also to find missing families. Adopted or kidnapped children were able to find their biological families. Genetic testing also has solved past crimes, freeing the innocent individuals wrongfully acquitted. Moreover, murdered and accidents victims, in which the remains found after a few months or even years, were identified through DNA testing. Perhaps DNA testing would eventually be prevalent in Malaysia, thus, connecting or reconnecting families, enabling the growth of the family tree. Let us ensure that there is no massive knowledge gap in the knowledge of our family history; do not just listen to family’s stories but then the details get lost as they are passed down the generations.
19 | Page Let us build our family tree by using one of the following applications: - 1. www.familysearch.org – Malaysia Genealogy (family search guide to Malaysia ancestry, family history and genealogy using parish registers, transcripts, census records, marriage records) 2. https://en.geneanet.org – Software to build your family tree 3. www.myheritage.com – Malaysia Genealogy using vital records of birth, marriage & death certificates, census records, immigration lists and other records 4. www.ancestry.com – Malaysia Family History (using census records) Ensure our family tree will keep growing new branches, not become a stump, flourishing through generations to come. References Campbell, M. History, Mystery and DNA Analysis, 24 June 2021, https://www.technologynetworks.com Parthipan, S & Ishar, S.M. Perspectives on Ancestral Lineages and Genetic Markers of Malay Population in Peninsular Malaysia. Jurnal Sains Kesihatan Malaysia (2) 2022: 83-95 DOI: http://dx.doi.org/10.17576/JSKM-2022-2001-08 Roses, A. The genome era begins.... Nature Genetics 33, 217 (2003). https://doi.org/10.1038/ng1110 Blog - shafiqolbu.wordpress.com www.pinterest.com
20 | Page Integrated Reporting: Engaging Sustainability Assurance Akma Hidayu Dol @ Abdul Wahid Integrated reporting (IR) is a clear and concise communication about how an organisation’s strategy, governance, performance and prospect lead to a creation of value over the short and the long term. IR helps organisations to think holistically about their strategy and plan in the context of the business impact on the different capital, making better informed decisions and managing key risks taking advantage of opportunities. A substantial number of prior research has documented an increased interest and awareness in sustainable development, in which organisations willingly participate in sustainability activities and disclosure. The upsurge in the number of integrated reporters has led to the awareness or debate on the need to provide credibility and reliability to sustainability-related information within the integrated reports (Kilic & Kuzey, 2018). Independent sustainability assurance identified as the key mechanism to ensure the credibility and reliability of the integrated reports (IIRC, 2014). The independent sustainability assurance serves as the monitoring mechanism to curtail the opportunistic manoeuvre of the companies’ agents and minimizing the agency conflicts. This monitoring mechanism has been rapidly adopted by institutions and organisations due to the need to monitor sustainability risk and activities (Fraser et al. 2020). Hence, the need for assurance functions should be evolved alongside the integrated reporting practices. The engagement of independent sustainability assurance is influenced by many factors. Kilic et. a,l (2021) examined the country specific factors associated with the decision to adopt voluntary sustainability assurance on integrated reports. The study found that companies operating in code-law (stakeholder-oriented) countries relative to common-law (shareholder-oriented) are more likely to adopt assurance statements for integrated reports. This mainly due to their response to the expectations of the general public.
21 | Page Besides, public institutions also have influence on the need for sustainability assurance statements or reports. A Low-quality public institution or weak institutional environment increases the need for assurance statements (Kilic, 2021). When the authorities fail to act responsibly particularly when the investor protection mechanism is not strong, the companies are highly likely to put an extra cost to obtain the voluntary sustainability assurance and demand for higher quality assurance. Corporate commitment and general awareness of environmental issues are also the main factors of the adoption of the sustainability assurance (Hazeaa S.A, Zhu,J., Khatib, S.F.A, Bazhair, A. H, Elamer A., (2021). Apart from the factors associated with the decision to adopt the independent sustainability assurance, the other area of concern surrounding the sustainability assurance is the assurance services providers. Unlike the financial statements, the sustainability assurance services can be conducted by both accounting and non-accounting firms. The auditor of sustainability information has a significant role in mitigating the risks related to sustainability violations. There is no doubt that accounting assurance providers have greater knowledge, experience and skills in financial auditing services and highly likely be hired for assurance services rather than the nonaccounting, however, it does not mean that the non-accounting assurance provides affect the quality of the assurance reports. This is supported by Hazea et al. (2021) that assurance providers are not necessarily linked to the audit profession. The non-accounting assurance providers may possess a greater level of expertise in complicated social and environmental processes. To promote and practice rigorous assurance, organisations should be responsible for hiring assurance experts who have sufficient experience. References: Fraser IJ, Schwarzkopf J, Muller M (2020) Exploring supplier sustainability audit standards: potential for and barriers to standardization. Sustainability 12(19):8223 Hazea, S.A, Zhu,.J, Khatib, S.F.A, Bazhair, A. H., Elamer A.A, (2021) Sustainability assurance practices: a systematic review and future research agenda, Environmental science and Pollution research, 29 4843- 4864. Kilic, M., kuzey, C., Uyar, M. (2021). An international investigation on assurance of integrated reports: Institutions, assurance quality, and assurers, Journal of International Accounting, Auditing and Taxation.
22 | Page Pengenalan Dan Kepentingan Dokumen Sumber Dalam Rekod Perakaunan Dan Perniagaan Rafizan Abdul Razak Proses perakaunan mempunyai beberapa peringkat sehinggalah penyata kewangan tahunan dapat disediakan. Secara umumnya ianya terdiri daripada 4 proses utama iaitu mengklasifikasi, merekod, meringkas dan merumuskan urusniaga perniagaan kepada pengguna atau pemilik perniagaan untuk membantu mereka menilai prestasi pencapaian dan membuat keputusan untuk kelestarian perniagaan. Topik ini selalunya dimasukkan di dalam silibus sebagai topik pengenalan kepada para pelajar yang baru mengikuti kursus perakaunan di peringkat diploma, matrikulasi atau program yang ditawarkan di universiti. Sebelum melakukan proses ini pelajar akan didedahkan tentang maklumat dokumen sumber. Apakah dokumen sumber? Dokumen sumber ini adalah bukti utama sesuatu transaksi atau urusan perniagaan di antara satu pihak kepada pihak atau entiti yang lain seperti invois, bil, perjanjian sewa beli ,resit, geran, penyata bank dan lain-lain. Dokumen ini akan digunakan sebagai bukti untuk merekodkan transaksi perniagaan di dalam sistem perakaunan secara atas talian ataupun direkod dalam jurnal seperti jurnal am, jurnal belian atau jualan, jurnal pulangan belian atau jualan ,jurnal penerimaan tunai atau pembayaran tunai. Sebagai contoh dokumen resit pembayaran akan digunakan dan dirujuk untuk merekod sesuatu pembelian inventori secara tunai atau penyata bil bulanan digunakan untuk merekodkan transaksi pembayaran sesuatu bil seperti bil telefon atau bil elektrik. Maklumat penting yang perlu diambil perhatian dalam melihat dokumen ini adalah seperti nama penerima, pengirim atau syarikat, tarikh, nombor rujukan, jumlah, tandatangan dan maklumat transaksi yang berkaitan. Semua maklumat ini mestilah sama seperti apa yang akan direkodkan dalam sistem atau dalam jurnal dan tidak dimanipulasi atau diubah kandungannya. Untuk membantu pelajar menguasai topik ini, mereka perlu menyediakan laporan atau projek berkumpulan dengan menghasil transaksi perniagaan untuk satu bulan. Pelajar selalunya diminta menyediakan dokumen untuk setiap transaksi yang dihasilkan. Dokumen yang dihasilkan perlulah dalam bentuk pelbagai format dan isi kandungan. Berdasarkan dokumen ini mereka perlu mengklasifikasikan dan merekodkan transaksi di dalam jurnal yang bersesuaian. Secara tidak langsung pelajar boleh mengaplikasikan pengetahuan mereka untuk merekodkan maklumat dengan betul dan tepat dengan merujuk kepada dokumen sumber yang dihasilkan.
23 | Page Kesilapan dalam merekodkan maklumat dalam sistem akan menyebabkan penyata kewangan yang disediakan tidak tepat dan benar. Ini akan menjejaskan kesahihan rekod kewangan sesuatu perniagaan. Apatah lagi jika maklumat atau kandungan dokumen sengaja diubah untuk kepentingan pihak tertentu. Sebagai contoh pembayaran untuk perbelanjaan yang tidak wujud atau jumlah yang telah di manipulasi akan menyebabkan laporan kewangan tersebut boleh diragui. Oleh itu disini pelajar bukan sahaja didedahkan tentang pengetahuan asas proses perakaunan semata-mata, malahan mereka juga harus diterapkan dengan nilai integriti dan etika yang baik dalam melaksanakan proses ini. Selepas semua maklumat transaksi dari dokumen sumber direkodkan dalam jurnal , proses seterusnya adalah menyediakan akaun-akaun yang berkaitan , penyata imbangan duga dan akhir sekali menyediakan penyata kewangan tahunan untuk rujukan membuat keputusan. Kesimpulannya di sini kita boleh lihat mengendalikan dokumen sumber dengan amanah dan bertanggungjawab sangat penting kerana ia asas kepada rekod kewangan sesuatu perniagaan. Rujukan: Mohd Nizal Hanif, Anuar Nawawi, Radziah Abd Samad, Intan Salwani Mohamed, Fundamentals of Financial Accounting, 2, Oxford Fajar, 2018, ISBN: 9789834726553
24 | Page Tax Relief for Year of Assessment 2021: 10 Tax Changes Taxpayers Should Know Ida Haryanti Mohd Noor Tax is an imposition of compulsory contribution on individuals or corporations by government entities in order to raise revenue for various government expenditures such as to build and maintain public infrastructures used in the country and is used as an instrument of fiscal policy. Tax can be categorized into two types which are direct tax and indirect tax. Direct tax is paid directly by individuals or corporations to the imposing entities such as income tax and real property gain tax while indirect tax is a tax on consumption of goods and services such as sales tax and entertainment duties. In Malaysia, administration of direct tax is under the responsibilities of the Inland Revenue Board. Self-assessment system has been introduced in Malaysia since the year of assessment 2001 while for individuals (employees, sole proprietors and partners in a partnership), self-assessment system was imposed since the year of assessment 2004. Self-assessment system is a tax system whereby taxpayers are responsible to compute their own chargeable income and income tax liability as well as paying the correct amount of tax within the stipulated date. For individuals without business income, they need to submit their return by 30 April of the following year. While for individuals with business income, their return needs to be submitted by 30 June in the following year. Apart from several types of taxable incomes that need to be known by taxpayers, they also need to understand how to apply tax reliefs in order to assess their tax liability and at the same time to maximize their tax refund (if possible). Below are the summary of 10 tax changes that taxpayers should know about tax relief for Malaysian resident individual for year of assessment 2021: - Increase of disabled spouse relief from RM3,500 to RM5,000. - Increase of medical expenses, special needs and parental care from RM5,000 to RM8,000. - Increase of medical expenses for serious diseases (taxpayer, spouse and children) from RM6,000 to RM8,000. Included in this relief are expenses for fertility treatment (taxpayer and spouse), full medical check-up including Covid-19 screening up to RM1,000 and cost of approved vaccination expenses up to RM1,000. - Extension of tax relief on contribution to private retirement scheme and deferred annuity up to the year of assessment 2025. - Special tax relief for purchase of smartphone, personal computer or tablet for taxpayer, spouse and children and not for business use up to RM2,500. - Additional tax relief for purchase of sport equipment, facility rental, entrance fee and registration fee for licensed sports competitions up to RM500. - Tax relief on domestic travel expenses for registered accommodation and entrance fees up to RM1,000.
25 | Page - Tax relief on education fees up to RM7,000 including any course of study taken for the purpose of upskilling or self-enhancement, conducted by a recognised body up to RM1,000. - Tax relief for fees paid to registered childcare centres and kindergartens up to RM3,000. - Extension of tax relief on net savings into SSPN for another 2 years of assessment up to the year of assessment 2022. Self-assessment system places greater responsibility on the taxpayers to assess their tax debt or refund. It is therefore very important that taxpayers are well acquainted with the tax principles and policies under the Malaysian taxation legislation. It can be achieved if the taxpayers have appropriate knowledge on tax and the system. Reference: 2021 Budget Commentary and Tax Information, The Malaysian Institute of Certified Public Accountants, Chartered Tax Institute of Malaysia & Malaysian Institute of Accountants.
26 | Page Kepentingan Penyata Penyesuaian Bank Untuk Perniagaan Milikan Tunggal Atau Perseorangan Rafizan Abdul Razak Perniagaan milikan tunggal atau perseorangan merupakan satu jenis perniagaan yang banyak beroperasi di Malaysia. Perniagaan jenis ini agak mudah ditubuhkan dan tidak perlu mematuhi banyak peraturan seperti Akta Syarikat 2016 yang ditetapkan untuk jenis-jenis perniagaan yang lain seperti syarikat sendirian berhad atau syarikat berhad. Walaupun tidak terikat dengan banyak peraturan, pemilik perniagaan mestilah mempunyai rekod kewangan yang kemas dan sistematik untuk menilai prestasi perniagaan. Salah satu aspek yang penting adalah menyimpan buku tunai rekod pembayaran atau penerimaan dan penyata penyesuaian bank. Setiap bulan rekod penyata bank akan diberikan kepada semua pemegang akaun oleh bank. Rekod ini akan menunjukan semua transaksi aliran masuk dan keluar wang tunai di bank. Apabila penyata bank ini telah dijana oleh pihak bank pemilik akaun perlu menyemak semua transaksi dipaparkan untuk memastikan rekod yang disimpan dalam buku tunai perniagaan sama seperti dalam penyata bank diterima. Sekiranya pemilik perniagaan mendapati terdapat perbezaan dalam rekod maka penyata penyesuaian bank perlu disediakan untuk mengenal pasti apakah yang menyebabkan berlaku perbezaan tersebut. Pemilik perniagaan tunggal tidak boleh menganggap perkara ini tidak penting untuk diteliti walaupun telah menjalankan dan mengawal aktiviti perniagaan mereka secara mutlak. Tahukah anda terdapat beberapa punca yang boleh menyebabkan berlakunya perbezaan dalam rekod buku tunai dan penyata bank? Antaranya seperti cek yang dikemukakan tidak lengkap, cek yang dikeluarkan atau diterima masih belum ditunaikan di bank oleh pelanggan, transaksi arahan tetap untuk pembayaran secara terus melalui bank atau kepada satu pihak yang lain, faedah atau caj yang dikenakan oleh pihak bank ataupun kesilapan catatan samada dilakukan dalam buku tunai mahupun kesilapan catatan oleh pihak bank. Setelah punca di atas dapat dikenal pasti, maka pemilik perniagaan boleh menggunakan penyata penyesuaian bank untuk mengemaskini rekod buku tunai mereka. Dengan cara ini, semua transaksi sepanjang tempoh tersebut akan direkodkan dalam buku tunai atau dalam penyata penyesuaian bank. Di akhir proses ini jumlah yang dipaparkan dalam buku tunai akan diselaraskan semula supaya ianya sama seperti jumlah yang terdapat di dalam penyata bank. Sebarang ketinggalan catatan atau kesilapan juga dapat diperbetulkan melalui proses ini. Sebagai contoh terdapat rekod penerimaan bayaran di dalam penyata bank daripada pelanggan pada bulan lepas yang masih belum direkodkan dalam buku tunai perniagaan, oleh itu transaksi ini akan diselaraskan semula dalam buku tunai kerana penyata bank yang lengkap hanya akan dapat dilihat oleh pemilik akaun pada awal bulan yang berikut. Contoh yang lain seperti berlakunya kesilapan catatan jumlah pembayaran tunai dalam penyata bank oleh pihak bank, oleh itu kesilapan ini akan diselaraskan semula dalam penyata penyesuaian bank. Ini penting untuk memastikan perbezaan yang berlaku bukan disebabkan kesalahan yang disengajakan. Selain itu proses ini juga boleh mengelakkan daripada berlakunya manipulasi atau penipuan oleh staf samada dari pihak bank atau pekerja yang menyediakan buku tunai tersebut. Semoga perkongsian ringkas ini dapat memberi manfaat kepada pemilik perniagaan untuk menguruskan rekod kewangan dengan lebih sistematik dan teratur. Rujukan: Fatimah Abdul Rauf, Amla Abu, Radziah Mahmud, FINANCIAL ACCOUNTING FOR NON-ACCOUNTING STUDENTS, McGraw-Hill Education, 2020, ISBN: 9789670761381
27 | Page Program Pensijilan SQL Accounting Software Oleh E Stream MSC Sdn Bhd: Satu Pertambahan Nilai Untuk Graduan Bagi Memenuhi Permintaan Sektor Pekerjaan Yang Semakin Mencabar Amariah Hanum Hussin Subjek Accounting Information System (AIS615) memerlukan pelajar untuk mempelajari SQL Accounting Software dan akan diambil kira dalam penilaian berterusan sebanyak 20%. Pelajar akan didedahkan dengan cara menyediakan akaun syarikat yang komprehensif dengan menggunakan perisian SQL ini. Oleh yang demikian, bagi memantapkan lagi penyampaian kuliah dan sebagai salah satu inovasi dalam pengajaran dan pembelajaran, Fakulti Perakaunan UiTM Seremban mengambil inisiatif untuk menganjurkan Certification By SQL Accounting Software in Collaboration with E Stream MSC Sdn Bhd : A New Added Value for Graduates to Meet High Market Demand. Jalinan kerjasama yang baik di antara Fakulti Perakaunan UiTMCNS Kampus Seremban dan industri yang membangunkan sistem SQL Accounting Software iaitu E Stream MSC Sdn Bhd telah memberi impak yang besar kepada pelajar yang mengambil subjek AIS 615. Melalui kerjasama ini, pelajar yang telah selesai mempelajari SQL software akan mengambil peperiksaan di mana fail perisian pelajar akan disemak oleh pihak SQL dan seterusnya menganugerahkan sijil kepada pelajar yang layak. Penganjuran program ini adalah sebagai langkah inisiatif pensyarah untuk melaksanakan inovasi pembelajaran dan juga menambah nilai bagi memperluaskan lagi bidang kerjaya yang boleh diceburi bagi pelajar selepas bergraduat di samping bagi memupuk minat pelajar mempelajari subjek ini. Selain itu program ini juga mendapat jalinan kerjasama yang amat baik antara pihak Universiti dan industri yang turut memainkan peranan penting dalam menghasilkan graduan yang dapat memenuhi permintaan industri dalam sektor pekerjaan.
28 | Page Objektif program adalah seperti berikut: 1. Memberi peluang kepada pelajar untuk mendapatkan sijil dari pihak industri dalam usaha meningkatkan kebolehpasaran pelajar 2. Sebagai medium inovasi dalam menambah nilai kepada kualiti graduan UiTM 3. Mengiktiraf kecemerlangan pelajar yang berusaha untuk meningkatkan ilmu pengetahuan dan menambah nilai kepada kelayakan pelajar Kaedah Pelaksanaan program ini adalah seperti berikut 1. Pelajar diberi taklimat berkaitan perisian serta persijilan SQL secara menyeluruh. 2. Pelajar yang selesai mempelajari SQL software akan mengambil peperiksaan di mana fail perisian pelajar akan disemak oleh pihak SQL. 3. Fasilitator yang dilantik akan membantu dalam memastikan program berjalan dengan lancar. 4. Sijil Akreditasi akan dianugerahkan kepada pelajar yang layak. Program ‘Accreditation Certificate by SQL Account’ telah dilaksanakan selama dua tahun bermula pada semester Februari 2019. Untuk semester Oktober 2021 – Februari 2022, program ini telah dijalankan dengan jayanya pada 16 Januari 2022. Program ini telah melibatkan seramai 62 orang pelajar yang mengambil kursus Accounting Information System (AIS615), Fakulti Sains Komputer dan Matematik, UiTMCNS Kampus Seremban. Walaupun pelajar bukan merupakan pelajar aliran perakaunan, akan tetapi keputusan akreditasi sijil SQL sentiasa memberangsangkan.
29 | Page Impak daripada program ini telah menambah nilai kepada pelajar yang berjaya memperolehi sijil akreditasi yang dikeluarkan oleh pihak E Stream MSC Sdn Bhd selaku pembangun sistem SQL Accounting Software. Sijil akreditasi ini ternyata sangat berguna kepada pelajar di mana kebanyakan syarikat dan industri di Malaysia menggunakan sistem SQL Accounting Software dalam menyediakan perakaunan tahunan syarikat. Ini akan menyokong usaha universiti dalam menghasilkan graduan holistik dan mempelbagaikan lagi kebolehan dan kebolehpasaran pelajar. Program ini telah berjalan dengan jayanya dan pencapaian pelajar dalam akreditasi pada semester Oktober 2001 – Februari 2022 adalah sangat memberangsangkan seperti carta di bawah: Pihak Fakulti Perakaunan UiTMCNS Kampus Seremban amat berterima kasih dan menghargai segala kerjasama Pihak SQL, E Stream MSC Sdn Bhd, Pengurusan Tertinggi, Fakulti Perakaunan dan Fakulti Sains Komputer dan Matematik, UiTMCNS. Pihak penganjur juga mengharapkan sokongan yang tinggi ini dikekalkan agar matlamat jangka masa panjang program ini tercapai.
30 | Page The Importance of Tax Knowledge to Combat Tax Evasion Siti Hawa Shuid Tax evasion or tax cheating has become common practice in many countries, creating a huge challenge for governments all around the world. This sort of financial crime could have a serious negative impact on government’s revenue. As we know, tax collection represents a major contributor to the Malaysian government's revenue, which comprises more than 70% of total revenue. Tax evasion, particularly in underdeveloped nations, may have a more negative social and economic impact (OECD, 2014). There are many factors that could influence tax evasion among individual taxpayers that can be categorised under demographic factors: age, level of income, source of income, and level of education. Older people have more time to accumulate wealth than younger ones, giving them an opportunity to avoid paying taxes. Younger individuals also try to avoid paying taxes if they believe the tax penalties or punishments will not have a significant impact on them. People are more willing to engage in tax evasion activities when they have a high level of income. They also tend to evade tax when they feel they are not treated fairly in the tax system. Self-employed people are more likely than employees to underreport their business income. They tend to organise their taxable income in order to decrease the amount of tax they must pay (Che Rosli et. al, 2018). A less educated person may not fully comprehend why paying taxes is critical to meeting social needs, leading to noncompliance with tax regulations (Saad, 2014). The Self-Assessment System, which was introduced in Malaysia, requires individual taxpayers to declare income and claim expenses correctly on their tax return form. They must, at the very least, understand the fundamentals of tax calculation. This is critical when they must respond to the Inland Revenue Board (IRB) during a tax audit or tax investigation. So, as an individual taxpayer with an employment income, we need to submit Form BE to the IRB on or before 30 April every year. If we fail to submit the income tax return form, the Director General of IRB has the power under Section 112(1) to impose a penalty of RM200 to RM20,000 or imprisonment for a term not exceeding 6 months or both. The more serious issue is when the taxpayer wilfully intends to evade tax. Under Section 114(1), a penalty of RM1,000 to RM20,000 will be imposed or imprisonment for a term not exceeding 3 years or both, and 300% of the tax undercharged (Kwai Fatt, 2021; Inland Revenue Board of Malaysia, 2022). To promote tax knowledge among staff, the Faculty of Accountancy UiTM Cawangan Negeri Sembilan successfully conducted a talk on tax in March 2022 with the cooperation of the IRB Seremban Branch about tax relief and how to reduce the tax payable. Almost 528 staff and students attended the online talk to get the information. It is very important to educate people to have tax knowledge in order to combat tax evasion activities. They should understand the significance of taxation in contributing to the country's development. People with more tax knowledge are best prepared to understand the tax system. Reference Che Rosli, R., Ling, L.M., & Embi, R. (2018). Tax malfeasance of high net-worth individuals in Malaysia: Tax audited cases. Journal of Financial Crime, 25(1), 155-169. Kwai Fatt, C. (2021). Malaysian taxation: Principles and practice (27th ed.). InfoWorld. Inland Revenue Board of Malaysia. (2022, Mar 2). Offences, fines and penalties. https://www.hasil.gov.my/en/legislation/offences-fines-and-penalties/ Organisation for Economic Co-operation and Development (OECD). (2014). Illicit financial flows from developing countries: Measuring OECD responses. https://www.oecd.org/corruption/Illicit_Financial_Flows_from_Developing_Countries.pdf Saad, N. (2014). Tax knowledge, tax complexity and tax compliance: Taxpayers’ view. Procedia: Social and Behavioural Sciences, 109, 1069-1075.
31 | Page Sesi Perkongsian Maklumat: Collaborative Teaching Norhidayah Ismail Siti Hawa Shuid Ja’izah Abdul Jabar Biro Akademik Fakulti Perakaunan telah mengadakan Program Sesi Perkongsian Maklumat Berkaitan Collaborative Teaching dengan bertujuan memberi pendedahan yang lebih meluas berkaitan collaborative teaching atau pengajaran kolaboratif. Pengajaran kolaboratif ini dapat diaplikasikan sebagai salah satu medium pengajaran yang lebih berkesan. Program ini telah berlangsung pada 7 Januari 2020 dan disertai oleh ahli – ahli Fakulti Perakaunan UiTMCNS Kampus Seremban. Sesi perkongsian maklumat ini telah disampaikan oleh penceramah jemputan iaitu Ts Mohamad Shahrimi Bin Hashim, pensyarah kanan UiTMCNS Kuala Pilah. Program ini dijalankan secara dalam talian dengan menggunakan platform google meet bermula jam 10 pagi. Program ini juga telah dikendalikan oleh Puan Siti Mariam Abdul Halim selaku moderator. Antara objektif pengajaran kolaboratif ini diperkenalkan adalah mengoptimumkan sumber kepakaran ahli fakulti dalam menyampaikan maklumat secara kolaboratif dan lebih berkesan. Teknik ini diharapkan dapat membantu dan memudahkan proses pengajaran dan pembelajaran seterusnya dapat membimbing pelajar bagi memperkasa pembelajaran kendiri mereka.
32 | Page Ceramah Percukaian Individu: Rahsia Jimat Cukai Norhidayah Ismail Saflina Azis Setiap individu yang menerima pendapatan sama ada daripada sumber penggajian, penerimaan imbuhan ataupun menjalankan perniagaan, individu tersebut perlu mengisytiharkan setiap pendapatan yang diperolehi kepada pihak Lembaga Hasil Dalam Negeri Malaysia (LHDNM) melalui borang yang berkenaan (boleh merujuk kepada laman sesawang LHDNM). Tarikh akhir bagi melengkapkan borang cukai untuk individu yang menerima pendapatan melalui penggajian adalah sebelum 30 April setiap tahun manakala bagi individu yang menjalankan perniagaan adalah sebelum 30 Jun setiap tahun. Fakulti Perakaunan telah mengambil inisiatif menganjurkan satu sesi ceramah percukaian individu berkenaan bagaimana untuk memaksimumkan pelepasan cukai yang telah diperkenalkan oleh pihak LHDNM. Program ini telah berjaya dilaksanakan pada hari Khamis, 31 Mac 2022 yang lalu secara dalam talian dengan menjemput Encik Luzman Bin Md Amin merupakan Ketua Penolong Pengarah LHDNM Cawangan Seremban. Program ini bertujuan memberikan pendedahan awal kepada pembayar cukai baharu dan pendedahan yang tepat kepada pembayar cukai sedia ada berkaitan tatacara pengisian borang cukai individu secara dalam talian. Rata-rata masih terdapat segelintir pembayar cukai sedia ada yang mengalami masalah dan kekeliruan dalam proses mengisi borang tersebut dengan tepat. Oleh yang demikian, program ini sangat membantu para pembayar cukai tatacara pengisian borang yang tepat. Selain itu, pegawai bertauliah daripada pihak LHDNM juga dapat berkongsi informasi dan maklumat terkini berkaitan pelepasan cukai yang ditawarkan kepada para pembayar cukai. Di samping itu juga, para peserta ceramah ini dapat berkomunikasi dan bertanya soalan secara terus bersama dengan pegawai-pegawai LDHNM berkaitan masalah mereka. Seramai 800 lebih peserta yang telah menyertai program yang dilaksanakan ini. Mereka terdiri daripada staf akademik dan staf bukan akademik daripada seluruh kampus UiTM. Turut serta adalah peserta daripada luar UiTM. Diharapkan agar program yang dilaksanakan ini dapat memberikan input yang baik kepada semua peserta, dan dapat dilaksanakan lagi pada masa yang akan datang.
33 | Page Geran Penyelidikan Tajuk Kajian : Predictors Influencing Local Council Officers’ Level of Integrity Jumlah : RM12,000 Ahli : Dr Dalila Daud, Dr Intan Salwani, Mohamed, Dr Nisrin Alyani Ishak, Dr Norhaninah A Ghani, Dr Norhayati Sulaiman Tajuk Kajian : Awareness of Investment Scams Among Potential Investors Jumlah : RM12,000 Ahli : PM Dr Eley Suzana Kasim, Dr Nurazilah Zainal, Dr Noor Rohin Awalludin, Nurul Huda Ahmad Shukri, Allezawati Ismail Pengiktirafan dan Penghargaan Nama Anugerah : Anugerah Juri Terbaik Pertandingan AKRAB 2021 Program : Hari Inovasi 2021 UiTMCNS Ahli : Rafizan Abdul Razak Nama Anugerah : Anugerah Perkhidmatan Cemerlang Program : Majlis Jasamu Dikenang Ahli : Saflina Azis Nama Anugerah : Khidmat Setia 20 Tahun Program : Majlis Jasamu Dikenang Ahli : Saflina Azis Penerbitan Tajuk : Effectiveness of Musharakah Financing in Empowering Small Micro Enterprises Ahli : Dr Dalila Daud, Dr Nurazilah Zainal, Dr Siti Sara Ibrahim Penerbit : Studies of Applied Economics (Scopus & WoS) Tajuk : Urgency in Waqf-Microfinance Project Collaboration for Socioeconomic Growth and the Mediating Effect of Sustainability Using PLS-SEM Analysis Ahli : Dr Siti Sara Ibrahim, Dr Nurazilah Zainal, Dr Dalila Daud Penerbit : Studies of Applied Economics (Scopus & WoS) Tajuk : Relational Capital and Performance: Empirical Evidence on the Services Sector of SMEs in Malaysia Ahli : Dr Salwa Muda, Musliha Musman, Amariah Hanum Hussin, Dr Raziah Bi Mohamed Saqidue, Dr Asma’ Rashidah Idris Penerbit : International Journal of Academic Research in Accounting, Finance and Management Sciences (ERA)
34 | Page Penerbitan Tajuk : Financial Literacy and Awareness of Investment Scams Among University Students Ahli : Hazlina Mohd Padil, PM Dr Eley Suzana Kasim, Dr Salwa Muda, Norhidayah Ismail, Dr Norlaila Md Zin Penerbit : Journal of Financial Crime (Scopus) Tajuk : Incorporating Expert Judgmental into Life Insurance and Life Takaful Companies’ Efficiency Measurement Through DEA-AR/FAHP Approach Ahli : PM Dr Nur Azlina Abd Aziz, Nor Faradilah Mahad, Dr Jamilah Mohd Mahyideen, PM Dr Eley Suzana Kasim Penerbit : International Journal of Academic Research in Accounting, Finance and Management Sciences (ERA) Tajuk : Impact of Climate Change on Agriculture Sector of Malaysia Ahli : Dr Norlaila Md Zin Penerbit : International Journal of Energy Economic and Policy (Scopus) Tajuk : Application of Maqasid Al-Shariah into Supply Chain Management Practices for Sustainable Development Ahli : PM Dr Eley Suzana Kasim, Dr Dalila Daud, Md Mahmudul Alam, Normah Omar, Elisa Kusrini Penerbit : OSF Preprints Lantikan Dalaman/Luaran Jawatan : Penyelaras Unit Pengurusan Kualiti UiTMCNS Kampus Seremban Bahagian : Unit Pengurusan Kualiti UiTMCNS Ahli : Rafizan Abdul Razak Jawatan : Operational Excellence Trainer Unit Pengurusan Kualiti UiTMCNS Kampus Seremban Bahagian : Unit Pengurusan Kualiti UiTMCNS Ahli : Dr Norlaila Md Zin Jawatan : Penyelaras Unit Penerbitan dan Penulisan Kampus Seremban Bahagian : Bahagian Penyelidikan, Jaringan Industri, Masyarakat dan Alumni UiTMCNS Ahli : Dr Salwa Muda Jawatan : Juruaudit Dalam Bahagian : Unit Kualiti UiTMCNS Kampus Seremban Ahli : Siti Hawa Shuid Jawatan : Penceramah Jemputan Bahagian : Pejabat Pembangunan Wanita Negeri Sembilan Ahli : Amariah Hanum Hussin
35 | Page Lantikan Dalaman/Luaran Jawatan : Penceramah Jemputan Bahagian : Pejabat Pembangunan Wanita Negeri Sembilan Ahli : Dr Raziah Bi Mohamed Sadique Jawatan : Penceramah Jemputan Bahagian : Pejabat Pembangunan Wanita Negeri Sembilan Ahli : Siti Mariam Abdul Halim Jawatan : Penulis Anugerah Kualiti Naib Canselor Bahagian : UiTM Negeri Sembilan Ahli : Saflina Azis Jawatan : Penulis Anugerah Kualiti Naib Canselor Bahagian : UiTM Negeri Sembilan Ahli : Norhidayah Ismail
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