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Role Of Accounting On Business Behavior Impacted By Tax Changes In Malaysia

1858 words - 8 pages

Title: Role of accounting on business behaviors impacted by tax changes in Malaysia
Justification
There are many factors influence the changes of accounting importance where the role of accounting evolves along with the business changes affected by these factors. One of the factors that affect role of accounting in business field is tax.
In Malaysia, Tax is generally divided into 2 types which are direct and indirect tax. Direct tax can be defined as tax which is imposed straight to the taxpayer. In short, the payment of tax is between taxpayer towards government. Examples of direct tax are income tax from employee salary, corporation tax, property tax, and etc. Meanwhile, indirect tax ...view middle of the document...

Secondly, many business owners or investors have changed their point of view towards tax function as profit center rather than a compliance act which result to allocation of accountants to involve more in tax management of a company.

Problem Statements
As the role of accounting in business firm changes, the importance of accounting role, the boundaries, and its application in the business field has changed too. The question is how far tax has influence the role of accounting in corporation? In this research, the role of accounting and its extension scope of responsibility are examined within changes affected by tax and limited to the country of Malaysia. There are 2 types of hypotheses in this research. Firstly, the changes of accounting role in advanced countries such as U.S & Europe are different that develop country like Malaysia that will result in different treatment towards accounting role and its application in Malaysia business field.
Secondly, the slow changes in education system to cope with these changes limit the understanding of accounting that leaves many questions to accounting student to what is really needed and required from them in marketplace. This problem results in loss of confidence from the business owner towards accounting graduates and higher requirement standards from the market place towards formal education graduates.

Objectives
This research is conducted to with several objectives:
1. to find out the point of view of accounting student as well as business owners about accountant responsibility within the scope of tax
2. Changes of accountant role in Malaysia business which is affected by tax
3. Provide information to what is role and/or required from accounting graduates by business owners in regards of tax

Research questions
There are 2 sets of research questions that are needed in this research. First set is needed to do survey with accounting student. Second set is a survey for business owners/ managers. The first set of questions are basically aimed to grasp the understanding of student about what is expected from them as future graduates by their workplace in regards of tax. Bellows are the examples of 1st set of research question:
1. As future graduates in accounting, your role in the workplace with regard of tax (can circle more than one number):

1. Project planner
2. Auditor
3. Tax record keeping included with preparation for tax return
4. Part of advisor team to help decision making
5. Researcher
6. Consultant
7. Analyst
8. Accounting and/or Audit defence
9. Payroll tax administrator
10. Others (please specify) __________

2. Do you know the meaning of:

1. Accelerated depreciation | Yes | No |
2. Abatement | Yes | No |
3. Advanced earned income credit | Yes | No |
4. Tax avoidance = tax evasion | Yes | No |
5. Eco tax | Yes | No |

Meanwhile, 2nd set of question is given to business owners with a goal to understand the ideal or type of...

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