12 IMPROVEMENTS TO STANDARDS ISSUED AS STATEMENTS OF GAAP The Accounting Practices Board (APB) has approved 12 Improvements as Statements of Generally Accepted Accounting Practice (GAAP). The annual improvements project is aimed at making necessary, but non-urgent, amendments to Statements of GAAP that will not be included as part of another major project. The Standards…
Details2007 was a landmark year for our country. Not only did we win the Rugby World Cup (for a second time), but South Africa was the first and only country to adopt the Exposure Draft of the International Financial Reporting Standard for Small and Medium Entities as South African Generally Accepted Accounting Practice for SMEs…
DetailsBMW is normally known for being fast, comfortable and exclusive, so, I was astounded that it would launch a 5 series with a two litre four cylinder engine. A car of this size and weight surely requires at least a 3 litre six cylinder engine to perform effectively, especially on the reef. To my surprise,…
DetailsIntroduction The social, political and economic inequalities of women throughout the world are well known and well documented by interest groups and lobbyists alike. So when you read about women who, throughout history, have made significant impacts in the sciences, business, political and environmental fields, you cannot help but want to celebrate and laud these…
DetailsThe response of the International Accounting Standards Board If this question was asked to politicians and business leaders, the answer would be a resounding ‘YES’. The ‘grey men who sit in dimly lit rooms and dream up accounting standards’ are responsible for the current global financial crisis. The gluttony of criticism has been primarily focused…
DetailsThe global financial crisis, which came to the fore in August 2007, has led to a worldwide recession, the consequences of which have been of an unprecedented magnitude and scale. This has included rapid decline in international trade volumes, increased risk aversion, reduced liquidity and heightened market uncertainty. In the main financial centres of the…
DetailsAddressing the shortage of CA(SA) skills in South Africa. One of the key strategic marketing objectives of SAICA for 2009 has been to increase the number of first year students presenting themselves at university to study BCom Accountancy with a view to becoming prospective CAs(SA). Communication Challenge The business challenge inherent in achieving this objective…
DetailsThere has been a number of enquiries from members on how exactly the structures referred to in our August article operate. In this update, we focus on the various Governing Councils and SAICA member structures that exist within the Regions, their roles and responsibilities, and how they ensure implementation of the SAICA-wide strategy. In each…
DetailsFirst CPD cycle The first CPD cycle, which started on 1 January 2006 and ended on 31 December 2008, ended on a phenomenal note with 98.5% of SAICA’s members complying by the extended recording date of 31 May 2009. During the months leading up to the end of the period as well as the extension,…
DetailsDaar is min twyfel oor Suid-Afrikaanse sakevertroue. Hierdie is moeilike tye. Die RMB/BER sakevertroueindeks het gedurende die 2Q2009 ’n nuwe sikliese laagtepunt van 26 bereik. Net 26 uit 100 bestuurders spreek vertroue uit. In 2007 was dit nog na aan 90. ’n Groot meerderheid van besigheidsmense ervaar momenteel duidelik ’n gebrek aan sakevertroue. In sommige…
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