Making the most of extended SAM timelines Since the end of 2012, when it became apparent that the implementation of Solvency II will be delayed past its planned 1 January 2014 date, there have been growing concerns and different views across the South African insurance industry about how Solvency Assessment and Management (SAM) would be…
OFFSHORE INVESTMENT in the spotlight As governments target offshore structures for tax avoidance, their other advantages come to the fore. Offshore structures. There was a time when South Africans who didn’t have them, wanted them, and when those who did, couldn’t talk about it. In recent years, however, more relaxed exchange controls allow greater flexibility…
Financial statements The frustration continues… As part of their research and teaching activities, many accounting academics spend a lot of time poring over published financial statements. Strangely, some of them find this work fascinating. To most people, an enthusiasm for reading accounting reports is about as comprehensible as, say, an infatuation with spoon collecting. But…
20 fastest growing global companies Company Earnings growth Revenue Growth Total Return 1 Silver Wheaton 340% 76% 49% 2 Cirrus Logic 450% 39% 88% 3 Baidu 99% 72% 56% 4 HollyFrontier 93% 51% 64% 5 HFF 341% 41% 53% 6 lululemon athletica 81% 45% 109% 7 Northern Oil and Gas 122% 237% 36% 8 Apple…
Updated carbon tax policy paper The National Treasury published the Carbon Tax Policy Paper, reducing greenhouse gas emissions and facilitating the transition to a green economy for public comment. This is the second and final round of comments requested on carbon tax policy, before government proceeds with the publication of draft legislation to give effect…
CPD platform changes SAICA is excited to announce that the Continuous Professional Development (CPD) system will be migrating from the current CPD website to be hosted by on Click2Start on the SAICA website. This change means that, with effect from 1 June 2013, you will no longer answer the CPD questions on the current CPD…
Purchasing power parity: An overview Purchasing Power Parity (PPP) is a technique used to determine the relative value of currencies, estimating the amount of adjustment needed on the exchange rate between countries for the exchange to be equivalent to (or on par with) each currency’s purchasing power. An example of this measure for making prices…
Inflation rates of the G20 countries These figures show the inflation rates of the BRICS countries (Brazil, Russia, India, China and South Africa) to generally be higher than most. India’s inflation rate is the highest, while Russia’s inflation stood at 7.26% in March 2013 and Brazil’s was 6.31%. China’s rate at 3.13% is at a…
Accounting for withholding tax on dividends I was on the SAICA committee that decided that Secondary Tax on Companies (STC) was an expense. There was a furious debate at the time as to whether the tax was, in substance, merely part of the normal tax payable by a company, or whether it was a tax…
Roadmap IFRS changes for 2013 The International Accounting Standards Board (IASB) has completed a range of significant projects resulting in new accounting and disclosure requirements for entities preparing financial statements under International Financial Reporting Standards (IFRS). The effective date for these requirements is for financial years beginning on or after 1 January 2013 and now…
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