FROM THE PEN BEE all you can BEE I’m sure you know at least one person who has held the view that Black Economic Empowerment (BEE) or Broad-based Black Economic Empowerment (B-bBEE) has not worked. Not from a framework perspective mind you, they are quick to add, but rather from an implementation perspective. A few…
As expected, because we operate in a global economy, South Africa has followed the footsteps of the rest of the world into recession. This has brought new meaning to the term ‘survival of the fittest’ for the businesses operating here. The consequence of recession is that many businesses find themselves suddenly in a tax loss…
During his address at the 2009 SAICA annual dinner, Trevor Manuel, Minister of the National Planning Commission in The Presidency, said: “The period of deregulation has come to an end. No longer can we rely on enlightened self-interest to regulate global markets. Just when we thought that auditors were dull, unnecessary, and simply a hindrance,…
In December 2009, Copenhagen will be the host city to one of the most important conferences in the history of the world. Representatives from 200 countries will gather to attend the United Nations Climate Convention meeting and deliberate on how humankind will be able to avert the global warming crisis. They will discuss a new…
ASSESSMENT OF EMBEDDED DERIVATIVES ON RECLASSIFIED FINANCIAL ASSETS The Accounting Practices Board (APB) approved Embedded Derivatives – Amendments to IFRIC 9(AC 442) – Reassessment of Embedded Derivatives and IAS 39(AC 133) – Financial Instruments: Recognition and Measurement, as amendments to Statements of Generally Accepted Accounting Practice (GAAP) on 23 April 2009. These amendments clarify the…
Pass rate of prospective chartered accountants rises dramatically South Africa’s all-too-small pool of qualified chartered accountants [CAs(SA)] is poised for a welcome boost following the release of a set of vital examination results on 26 June 2009. The pass statistics are especially encouraging in view of the quest to increase the population of the relatively…
I am a hypocrite. In their first-ever lecture in Accounts 1, I ask students to tell me the objective of business, a key question in introducing concepts such as net asset value and profit. The answer I am looking for is, of course: “to make the owners wealthier”. I usually make fun of anyone that…
“Awesome!” is the first word that came to my kids when they saw the Black X5 in the driveway. The test vehicle I had , had a sleek cream interior and silver trimmings together with the sports package, which just enhanced it’s brute 4×4 presence. The sports package adds sportier bumper treatment front and rear,…
In tandem with the launch of esCAlate, the accountancy profession’s new training model, Audi has escalated its local A3 range to include 1.4 TFSI and 1.9 TDI variants aimed at entry level consumers, among them trainees and newly qualified chartered accountants. After recently becoming a proud new owner of the Audi 1.4 TFSI, I can…
Die globale bankkrisis, wat gebeure die afgelope twee jaar gedomineer het en die wêreldekonomie laasjaar in ressessie gedompel het, staan einde se kant toe.Net so die globale resessie, met groei wat waarskynlik alreeds vanaf 2H2009 herstel sal wys, aangehelp deur aansienlik afgeskaalde voorraadvermindering en die stabilisasie van verbruiksbesteding. Ons ekonomie sal waarskynlik ook in die…