SAICA NEWS: Regional Updates

There 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…

SAICA NEWS: CPD

First 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,…

TECHNICAL: ACCOUNTING

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…

SPECIAL REPORT QE1

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…

ETHICS: Value-added

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…

ACCOUNTANCY IN MOTION: The BMW X5 35D

“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,…