Friday September 21, 2012
I AM an associate member of the Chartered Management Accountants (UK). My daughter is taking Prinsip Akaun in the coming SPM exam and I am concerned about the classification or definition of ‘Akaun Kontra’.
I hope it can be clarified soon for the benefit of students concerned.
I refer to the SPM study text Form 4 and 5 for Prinsip Akaun by Sasbadi. The authors are Zan Asri bin Tasir, Sharini binti Haji Ramli and Salina binti Kassim.
In particular, I refer to page 47 with regards to the definition of ‘Akaun Kontra’.
The writers have classified discount allowed (diskaun diberi) as ‘tidak dapat dibuat pengelasan tertentu’ and therefore presents discount allowed as a deduction from sales revenue.
As an accountant, I understand that discount allowed is classified as an expense. Hence, it is not presented as a deduction from sales revenue.
Similarly, discount received (discount diterima) is classified by the writers as ‘Akaun kontra’ and presents it as a deduction from purchases.
To my understanding, discount received is classified as other operating income/revenue. The treatment or presentation of discount allowed and received has an impact on gross profit (untung kasar) computation. Hence, it affects the gross profit ratios.
The qualification of the writers and background is not mentioned in the text. Aren’t their background important?
The new National Education Blueprint has been introduced and many suggest that having right teachers are vital but we must also ensure the writers of study text, the examiners and the markers and those in custody of the question papers are the right ones too.
Having the right people for the right position will ensure the objective of the new blueprint is achieved. Otherwise, we shall be stuck with “here we go again” syndrome.