Case-Study Digitalised Repository (CDR)
Real world business scenarios for the classroom
Teaching cases at the Management and Leadership Case Study Centre, Universiti Utara Malaysia, allow students to tackle real-world challenges, honing their skills for the workplace. Specializing in emerging markets, the center aims to increase digital access and usage of its case studies globally, benefiting both local and international educators.
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http://cdr.uum.edu.my/jspui/handle/123456789/174| Title: | FROM FAWN TO DEER: MEASUREMENT OF A BIOLOGICAL ASSET |
| Authors: | ABDULLAH, ZAIMAH SHAARI, HASNAH CHANDREN, SITRASELVI MOHD ARIFF, ARIFATUL HUSNA |
| Keywords: | Biological assets;agricultural activities;public universities;financial reporting;Financial Accounting and Reporting;Specialised Financial Accounting;Integrated Case Study |
| Issue Date: | 2020 |
| Publisher: | IMBRe |
| Abstract: | This case provides a study on agriculture activity by Universiti Utara Malaysia (UUM). The purpose of this case is to create greater awareness for students on both the accounting framework and methods recommended for specific assets in agriculture activity, i.e. biological assets. The use of standard measurement of other non-current assets such as property, plant and equipment is not relevant for biological assets, as this type of asset has different characteristics and purposes in business. This case provides students with experience in explaining the nature of an organization’s agriculture activities and accounting for biological assets as recommended in the Malaysian accounting framework. In addition, students are also exposed to the current issue in accounting standards, such as public interest and ethical issue. In this case, Mr Azri, an accountant at UUM and also a leader for asset unit was responsible for reporting the value of all assets in UUM, including ‘living assets’ or ‘biological asset’. Recently, he was instructed to accurately recognize, measure and disclose the value of ‘biological assets’ according to appropriate accounting standard. Furthermore, UUM is urged to replace the existing accounting standard of the Malaysian Private Entity Reporting Standard (MPERS) to the Malaysia Public Sector Accounting Standard (MPSAS). Mr Azri is now considering whether to change the use of the current accounting Standard and how to account and report for biological assets according to the new accounting Standard. This case is a decision or “unfinished” case which is suitable for Financial Accounting and Reporting courses. |
| URI: | http://cdr.uum.edu.my/jspui/handle/123456789/174 |
| Payment Link: | http://epay.uum.edu.my/go.php?billcode=CDRCASE&productid=TC167-1 |
| Appears in Collections: | Cases in CDR |
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