The accounting dilemma facing Zimbabwe in the midst of severe limitations to financial reporting Recently Zimbabwe set several world records. Swimmer Kirsty Coventry set the world record in the 200m backstroke at the Beijing Olympics and broke her own record in Rome this year. Cricketer Charles Coventry equalled the highest individual ODI score with a…
DetailsSparkling wine, whether made by injecting with carbon dioxide, much in the same way sparkling mineral water is made, or by the classical “Méthode Champenoise” or second fermentation in the bottles, known in the Cape as Methode Cap Classique [MCC], is becoming more popular as a drink to have without a reason. Previously regarded as…
DetailsSo you call yourself an adventurer? Well, in training for our adventure, my wife and I faithfully did regular weekend hikes in our new hiking boots. Bring on the Amazon, Peru, Boliva, the four day Inca trail hike, and the Nazca lines! Our 18-day tour was going to be no walk in the park. Here…
DetailsFROM THE PEN Foundation Issues With 33 chapters and an estimated 6.5 billion copies printed, Chairman Mao Zedong’s (Tse-Tung) book, The Little Red Book, during the 60s, was arguably the single most visible icon in mainland China, even more visible than the image of the Chairman himself. In posters and pictures created by the Chinese…
DetailsFor many years South Africans were perhaps a bit happy-go-lucky when it came to tax matters. You know the sort of thing; “discount for cash”, nudge, nudge, wink, wink. Or stick a student into your converted garage – now a “garden cottage” – and make a bit on the side. No need to bother the…
DetailsA thought leadership issue “Everything that is counted does not necessarily count; and everything that counts can not necessarily be counted” Albert Einstein We can count the profit we make, but we cannot count the happiness that a customer gets from good service. We can count sales, but we cannot count the cost of the…
DetailsIt has been said many times before that property is one of the biggest investments one can make in a lifetime. So when it comes to divesting yourself of one of life’s biggest assets, do you go it alone or use an estate agent? Adrian Goslett, CEO of RE/MAX of Southern Africa, asks if you…
DetailsCustoms and excise is not a subject that is covered in the Tax syllabus at University in Bachelor of Commerce degrees even less rarely covered in professional journals. Once qualified and working as a Finance Director, Manager or even a Tax Manager, you are now for the first time confronted by customs and excise issues.…
DetailsCommunicating deficiencies in internal controls to those charged with governance and management (ISA 265) is a new International Standard on Auditing (ISA) that comes into effect, together with all the other clarified ISAs, for all audits of financial statements beginning on or after 15 December 2009. ISA 265 consists of a number of requirements that…
DetailsEXPOSURE DRAFT 275 – FINANCIAL REPORTING FRAMEWORK FOR NON-PUBLIC ENTITIES The Exposure Draft ED 275 – Financial Reporting Framework for Non-public Entities was released for comment during December 2009. An important part of developing the framework is to solicit comments from preparers, auditors, users, government and other parties with an interest in a Financial Reporting…
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