WHY BE ETHICAL? Sometimes, I am tempted to lie to my students. Well, not “lie”, exactly. More like “not disclose material facts”. I see the irony in deceiving a class of ethics students, but, hell, if some of them can plagiarise their essays, can’t I leave out some inconvenient truths in order to get the…
BUILDING A MORAL INTELLIGENT CULTURE The one value that surfaces doing strategic consulting and coaching sessions for business and leaders, on both a collective and personal level, is that almost every leader aspires to live by integrity. However, we have found that how different leaders and businesses define Integrity, think about it, live it and…
OLD VS NEW he IASB revised IFRS3, Business Combinations and amended IAS27, Consolidated and Separate Financial Statements in January 2008 as part of the second phase of the joint effort by the IASB and the FASB to improve financial reporting while promoting the international convergence of accounting standards. The amendments provide guidance for the application…
FULL FACTORING: DISPELLING THE MYTH OF “LENDERS LAST RESORT” Cash: a commodity in increasingly short supply in today’s economy. While consumers and businesses alike are “tightening their belts”, more and more small and medium sized enterprises are finding themselves chasing their debtors to ensure a sustainable cash flow – often to no avail. The Debtor…
DEVELOPING TRUST IN BUSINESS RELATIONSHIPS – YEARS TO BUILD, SECONDS TO DESTROY The lifeblood of every business is to attract, develop, satisfy and retain customers. In times characterised by transient relationships, reduced loyalty and heavy competition, it is challenging to make this goal a reality. Yet there are a number of companies and organisations that…
Editorial corrections and changes to IFRSs The IASB has issued editorial corrections and changes to Improvements to IFRSs and Bound volume 2008 on 11 September 2008. Please click https://www.saica.co.za/DisplayContent.asp?ContentPageID=268 to access these editorial corrections and changes to IFRSs. Proposed amendments to the retrospective application of IFRSs The International Accounting Standards Board (IASB) has published for…
GENERATING ADDITIONAL ACCOUNTING SKILLS IN SOUTH AFRICA As the South African economy grows, the skills shortage poses a serious threat. There is a particular need and demand for skilled accounting staff in all sectors and in all sizes and types of organisation. To address the critical skills shortage of intermediate level accounting skills in both…
ACEDEMIC TRAINEESHIP PROGRAMME – SOME QUESTIONS ANSWERED During the 1980s, SAICA introduced the Academic Traineeship Programme (ATP). In essence, this programme allows academically strong students, upon successful completion of their studies, to spend the first year of their three-year training contract in academia at a SAICA accredited university, instead of in public practice or commerce…
LOOKING BACK AT 2008 2008 has indeed been a year of rapid movement and change. From the sub prime crises in the US, the stuttering of financial markets globally to the changes in the local political landscape, we have seen rapid change to which we all have to adapt. Our profession has been no exception…
FROM THE PEN At the time of writing this editorial, Kgalema Motlanthe has just been announced as South Africa’s third President at a time that many considered the beginning of the end of the African National Congress (ANC) as we know it. For the past 14 years, the ANC has controlled the National Assembly with…