This is the first in a series of articles exploring XBRL. Our next article will consider how XBRL was developed and the wider advantages and disadvantages of XBRL as a financial reporting tool The Fourth Industrial Revolution (4IR) era is characterised by an advanced interconnectivity of electronic data that has enabled machine learning to such…
As both accountants and good corporate citizens we advocate for accurate and transparent disclosure that will cater for a wide user audience and aid in decision-making. This also talks to acting in the public interest, which is one of the core mandates of an accountant Disclosure had advanced over the years. Originally disclosure was used…
In a recent article titled ‘On the relevance of IFRS financial statements’1 there was discussion around the relevance and usefulness of financial statements under IFRS. I think many accountants would agree that there are positives and negatives to the application of IFRS. Particularly vocal critics of IFRS include preparers at small and medium-cap listed companies…
Stakeholders of all kinds increasingly hold organisations accountable for delivering sustainable value. In fact, stakeholders tend to place more trust in organisations that demonstrate a sustained interest in communities, the environment and good governance. They expect organisations to do more than simply ‘tick a box’ Organisations can help to build trust and deliver sustained outcomes…
American entrepreneur Jim Rohn once said that income seldom exceeds personal development. Simply put, investing in your personal development is one of the most valuable and enduring investments you can make Some managers invest heavily in their skills portfolio early in their careers and then do so less and less intensively as their careers progress.…
It is our role as accountants to ensure that we provide credible information in the financial statements that is useful and can be used to make sound financial, fiscal and policy decisions We find ourselves in an environment where our time and other resources are constrained. We need to be purposeful in our actions. This…
Entrepreneurship incubator My Dough is helping small businesses in South Africa rise Abed Tau Entrepreneurship and accounting might seem like odd bedfellows − after all, the perception holds that while the latter is all about innovation and pushing boundaries, the former is a staid and steadfast profession. However, the team at My Dough is proving…
Tessa Stromvig believes that every citizen who has access to any resources whatsoever has a duty and responsibility to help those who don’t. That was just one of the reasons why she was motivated to open Steducentre, a facility which aims to equip learners with critical skills that are neglected under the current education system…
If there’s one thing that the ongoing COVID-19 crisis has proven, it is that the healthcare system in South Africa is in drastic need of major transformation. One of the biggest issues highlighted by the pandemic is the iniquity in access to care, but there are signs that one of the effects of COVID-19 will…
Although South Africans are known to have open hearts, it is primarily the poor living in major townships who benefit from charity drives rather than those living in what Moeletji Mapheto calls ‘the forgotten villages’. Coming from one of those forgotten villages herself, Moeletji set out to remedy this with the establishment of her NGO,…