Demystifying property market overhang

Napic’s website provides details on where these overhang properties are located and the three key states – Johor, Selangor, and Penang – are the main hotspots, accounting for some 14,956 units or just over half of the country’s total overhang.

AN accountant, who is tasked with preparing the books of a corporate, will always be guided by accounting principles when it comes to how the financial statements of the company are presented on an annual basis to ensure they are accurate and reflective of the company’s business affairs.

An auditor, looking at the same prepared accounts, will run through the numbers and audit the key material items to ensure they are reasonable, reflective of the company’s finances, and free from material misstatements, including due to fraud or error, or application of wrong accounting treatment.