INTRODUCTION-DELIMA CASE STUDY
1.0 INTRODUCTION
Based on case study A Delima, students are required to identify issued based on certain topics. Before that, we are required to present our ideas and evaluate plans and strategies to overcome problems by applying relevant techniques during our class. In this case relate to the concept of true and fair view of Financial Statement and focused on skills and attitudes of people in an organization. Moreover, this case make us understand and shows accountant should comply with the Malaysia Financial Reporting Standard (MFRS) and International Financial Reporting Standard (IFRS) respectively to show the reliability of Financial Statement.
Besides, we are able to know the importance of corporate governance in the business world. A part from that, we are notice about the principle of separation of ownership and management in the company relating to the director’s fiduciary duty to the company. Plus, we need to recognize the code of ethics for Company Secretary. Last but not least, we should consider other aspects in this case to reflect the best recommendation to achieve the effectiveness and efficiency of the business management.
2.0 OVERVIEW OF THE CASE
A Delima case is about family businesses that are set up by Encik Zayed and Puan Hashimah. It conducted trading and supplying related products including manpower supplies to the oil and gas industries. Later in 2004, due to encouraging business growth, the enterprise was incorporated as Delima Enterprise Sdn Bhd (DESB). The two principal shareholders and controlling directors are Encik Zayed and Puan Hashimah (husband and wife). The company activities had expanded into provision of engineering services as part of their business diversification and expansion plans.
The company had maintained a very lean organization with basic functional positions, with Encik Zayed as the Managing Director and his wife Puan Hashimah as the Chief Operating Officer. Puan Balqis work as the Operations Manager
Based on case study A Delima, students are required to identify issued based on certain topics. Before that, we are required to present our ideas and evaluate plans and strategies to overcome problems by applying relevant techniques during our class. In this case relate to the concept of true and fair view of Financial Statement and focused on skills and attitudes of people in an organization. Moreover, this case make us understand and shows accountant should comply with the Malaysia Financial Reporting Standard (MFRS) and International Financial Reporting Standard (IFRS) respectively to show the reliability of Financial Statement.
Besides, we are able to know the importance of corporate governance in the business world. A part from that, we are notice about the principle of separation of ownership and management in the company relating to the director’s fiduciary duty to the company. Plus, we need to recognize the code of ethics for Company Secretary. Last but not least, we should consider other aspects in this case to reflect the best recommendation to achieve the effectiveness and efficiency of the business management.
2.0 OVERVIEW OF THE CASE
A Delima case is about family businesses that are set up by Encik Zayed and Puan Hashimah. It conducted trading and supplying related products including manpower supplies to the oil and gas industries. Later in 2004, due to encouraging business growth, the enterprise was incorporated as Delima Enterprise Sdn Bhd (DESB). The two principal shareholders and controlling directors are Encik Zayed and Puan Hashimah (husband and wife). The company activities had expanded into provision of engineering services as part of their business diversification and expansion plans.
The company had maintained a very lean organization with basic functional positions, with Encik Zayed as the Managing Director and his wife Puan Hashimah as the Chief Operating Officer. Puan Balqis work as the Operations Manager