The following frequently asked questions are common among those contemplating University Malaya (UM). This page provides answers to these questions and provides links to useful UM websites that provide additional answers.
What is the accounting standard used for UM Financial Reporting?
Starting from the year 2020, UM uses Malaysia Public Sector Accounting Standard (MPSAS) for financial reporting purposes. It is primarily based on the International Public Sector Accounting Standards (IPSAS) published by the International Federation of Accountants (IFAC) and it was issued by the Accountant General’s Department (AGD).
What is the accounting period used by UM for financial reporting purposes?
UM uses calendar year accounting period which refers to a 12 months period begins from 1st January and ends 31st December of the same year.