A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir

In most countries, companies are required to submit their annual financial reports to the relevant authorities. Similarly, some countrIes require charitable organizations to submit their annual reports to the relevant authorities. In Malaysia, all charity organizations, as part of non-profit organiz...

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Main Authors:	Othman, Radiah, Said, Jamaliah, Mohd Nasir, Noraini
Format:	Article
Language:	English
Published:	Institute of Research, Development and Commercialization (IRDC) 2006
Subjects:	Balance sheet. Financial statements. Corporation reports. Including pro forma statements Financial management. Business finance. Corporation finance Social service. Social work. Charity organization and practice
Online Access:	http://ir.uitm.edu.my/id/eprint/13007/ http://ir.uitm.edu.my/id/eprint/13007/1/AJ_RADIAH%20OTHMAN%20SMRJ%2006%201.pdf

id	uitm-13007
recordtype	eprints
spelling	uitm-130072016-06-09T16:58:27Z http://ir.uitm.edu.my/id/eprint/13007/ A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir Othman, Radiah Said, Jamaliah Mohd Nasir, Noraini Balance sheet. Financial statements. Corporation reports. Including pro forma statements Financial management. Business finance. Corporation finance Social service. Social work. Charity organization and practice In most countries, companies are required to submit their annual financial reports to the relevant authorities. Similarly, some countrIes require charitable organizations to submit their annual reports to the relevant authorities. In Malaysia, all charity organizations, as part of non-profit organizations, have I to be registered with the Registrar ofSocieties (ROS). As part ofthe legal requirement, these organizations must submit their annual reports, including I their financial reports, to the ROS within the stipulated time period. However, less than 50% of the charity organizations do not do so. Thus this study attempts to determine the current state of financial reporting of the charity organizations in the country and highlight major issues and problems faced by them in preparing the financial reports. It is hoped that the findings of this research would assist the relevant authorities andthe organizations themselves to overcome problems related to the non-submission of annual reports as required by the ROS. Annual reports of 32 charity organizations were reviewed for this study and it was found that there were varying degree ofreporting practices among them. All had submitted their balance sheets, but only 60% presented cash flow statement and only 59% had their financial statement auditedby external auditors. Among the problems faced by these organizations in preparing the financial statements were the lack of skilled accounting staff and high staff turnover. These problems may have contributed to the low number ofcharity organizations submitting the annual reports to the ROS. Institute of Research, Development and Commercialization (IRDC) 2006 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/13007/1/AJ_RADIAH%20OTHMAN%20SMRJ%2006%201.pdf Othman, Radiah and Said, Jamaliah and Mohd Nasir, Noraini (2006) A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir. Social and Management Research Journal, 3 (2). pp. 113-123. ISSN 1675-7017
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Balance sheet. Financial statements. Corporation reports. Including pro forma statements Financial management. Business finance. Corporation finance Social service. Social work. Charity organization and practice
spellingShingle	Balance sheet. Financial statements. Corporation reports. Including pro forma statements Financial management. Business finance. Corporation finance Social service. Social work. Charity organization and practice Othman, Radiah Said, Jamaliah Mohd Nasir, Noraini A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
description	In most countries, companies are required to submit their annual financial reports to the relevant authorities. Similarly, some countrIes require charitable organizations to submit their annual reports to the relevant authorities. In Malaysia, all charity organizations, as part of non-profit organizations, have I to be registered with the Registrar ofSocieties (ROS). As part ofthe legal requirement, these organizations must submit their annual reports, including I their financial reports, to the ROS within the stipulated time period. However, less than 50% of the charity organizations do not do so. Thus this study attempts to determine the current state of financial reporting of the charity organizations in the country and highlight major issues and problems faced by them in preparing the financial reports. It is hoped that the findings of this research would assist the relevant authorities andthe organizations themselves to overcome problems related to the non-submission of annual reports as required by the ROS. Annual reports of 32 charity organizations were reviewed for this study and it was found that there were varying degree ofreporting practices among them. All had submitted their balance sheets, but only 60% presented cash flow statement and only 59% had their financial statement auditedby external auditors. Among the problems faced by these organizations in preparing the financial statements were the lack of skilled accounting staff and high staff turnover. These problems may have contributed to the low number ofcharity organizations submitting the annual reports to the ROS.
format	Article
author	Othman, Radiah Said, Jamaliah Mohd Nasir, Noraini
author_facet	Othman, Radiah Said, Jamaliah Mohd Nasir, Noraini
author_sort	Othman, Radiah
title	A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
title_short	A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
title_full	A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
title_fullStr	A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
title_full_unstemmed	A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir
title_sort	study on the national council of welfare and social development malaysia : the state of financial reporting of charity organizations / radiah othman, jamaliah said and noraini mohd nasir
publisher	Institute of Research, Development and Commercialization (IRDC)
publishDate	2006
url	http://ir.uitm.edu.my/id/eprint/13007/ http://ir.uitm.edu.my/id/eprint/13007/1/AJ_RADIAH%20OTHMAN%20SMRJ%2006%201.pdf
first_indexed	2023-09-18T22:49:40Z
last_indexed	2023-09-18T22:49:40Z
_version_	1777417459484065792

A study on the national council of welfare and social development Malaysia : the state of financial reporting of charity organizations / Radiah Othman, Jamaliah Said and Noraini Mohd Nasir

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