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The timing of the recognition of a liability for secondary tax on companies in accordance with international financial reporting standards
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: E R Venter --- Department of Accounting, M Stiglingh --- Department of Taxation,United States Generally Accepted Accounting Practice (“US GAAP”) generally requires taxes to be measured at the rate applicable to distributed profits, while International Financial Reporting Standards (“IFRS”) requires the undistributed rate to be used. This current conflict between US GAAP... -
The effects of IFRS adoption: A review of the early evidence
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: M Negash --- School of Accountancy,This review documents the conceptual, methodological and policy issues that relate to the domain of financial reporting research that attempts to examine whether there are measurable gains, (if any) stemming from the adoption of international financial reporting standards, (IFRS). It... -
A Note: The perceptions of a CTA class regarding the changes to the international accounting standards dealing with financial instruments
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: G Steenkamp --- University of Stellenbosch,The IASB has recently begun redeveloping the accounting standards that deal with financial instruments. During 2009 the IASB issued an exposure draft (ED 7/2009), which proposed certain changes to IAS 39. This study seeks to investigate the perceptions of a... -
Capitalisation of borrowing costs: An investigation into technical uncertainties in IAS 23
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: L van Staden --- School of Accounting Sciences, N van der Merwe --- School of Accounting Sciences,Those who are not experts in the field of accounting will most probably be of the opinion that interest should be expensed and therefore reduce profits. However, for financial periods beginning on or after 1 January 2009, the capitalisation of... -
A commentary on SARS’ proposed fair value tax on financial instruments
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: P de Jager --- Department of Finance and Tax, S Parsons --- College of Accounting, J J Roeleveld --- Department of Finance and Tax,On 5 July 2012 the South African National Treasury released its draft Taxation Laws Amendment Bill, which included the proposed insertion of section 24JB into the Income Tax Act. The proposed section will require all banks, company members of the... -
IFRS 3 “grey area” regarding contingent liabilities
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Eloise de Jager --- Department of Accounting, South AfricaAll South African listed companies must prepare their financial statements using International Financial Reporting Standards (IFRS). Although IFRS aims to provide a framework that can be applied to ensure comparable financial information, there are “grey areas” where judgement needs to... -
The value-relevance of goodwill reported under IFRS 3 versus IAS 22
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Anne-Marie Eloff --- School of Accountancy, South Africa Charl de Villiers --- Department of Accounting, New ZealandThe application of International Financial Reporting Standard (IFRS) 3, which became compulsory for financial periods beginning on or after 31 March 2004, significantly changed the initial and subsequent measurement of goodwill in annual reports. This change in the accounting treatment... -
Factors Influencing the Adoption of International Financial Reporting Standards by African Countries
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: L J Stainbank --- University of KwaZulu-Natal,The purpose of this paper is to identify the factors which may influence the adoption of the International Financial Reporting Standards (IFRS) by African countries. Using previous literature, the following factors were identified: economic growth, education level, economic openness, culture... -
Accounting for revenue using an accountability and business model framework: The case of the South African Institute of Chartered Accountants’ professional examinations
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Warren Maroun --- School of Accountancy, South AfricaThis research adopts a normative approach. It builds on the academic literature which argues that the usefulness of financial reporting can be enhanced by aligning accounting for balances and transactions with an organisation’s business model, as presented in its integrated... -
Fair value accounting by listed South African companies in the non-financial sector
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: M. H.Y. Razak --- School of Accounting, Economics and Finance, South Africa L. J. Stainbank --- School of Accounting, Economics and Finance, South AfricaThis study uses a content analysis of 82 listed South African companies’ annual reports to determine the extent to which South African listed companies in the non-financial sector choose optional fair value accounting (FVA). The study found that almost all... -
Quantifying the sources of volatility in the IFRS 9 impairments
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Yolanda S. Stander --- , South AfricaThe International Financial Reporting Standards (IFRS) 9 accounting standard gives rise to impairments that are sensitive to the economic cycle. Rules around stage migration and the incorporation of forward-looking information lead to volatility in the impairments that is not always... -
Revenue recognition practices in South Africa: An analysis of the decision usefulness of IFRS 15 disclosures
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: D. Coetsee --- , South Africa A. Mohammadali-Haji --- , South Africa M. van Wyk --- , South AfricaThe paper analyses the first-time adoption of IFRS 15 and reports on the appropriateness, rigour and decision usefulness of revenue disclosure practices in South Africa. The decision usefulness is assessed by reviewing the nature, amount, timing and uncertainty of revenue... -
The effect of the adoption of International Financial Reporting Standards on foreign portfolio investment in Africa
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Matthew Olubayo Omotoso --- , South Africa Daniël Petrus Schutte --- , South Africa Merwe Oberholzer --- , South AfricaThe adoption and implementation of International Financial Reporting Standards (IFRS) are anticipated to enhance the quality and credibility of financial statement in terms of reliability, transparency and comparability. Consequently, it presupposes improving the functioning of the capital market and influence... -
An analysis of the extent and use of fair value by JSE Top 40 companies
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Wayne van Zijl --- , South Africa Valencia Hewlett --- , South AfricaFair value’s advantages, disadvantages and ideology have been debated thoroughly by academics and practitioners for decades. The few implementation papers which do exist are primarily concerned with developed economies. This gap is despite the prior literature acknowledging the likely difficulties... -
Complex information and accounting standards: Evidence from UK narrative reporting
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Ekaete Efretuei --- , United Kingdom Abel Usoro --- , Nigeria Christina Koutra --- , United Arab EmiratesThe application of International Financial Reporting Standards (IFRS) has been introduced in many countries to enhance efficiencies in financial markets and improve communication in financial reporting. However, extant studies have suggested that the introduction of IFRS has increased narrative complexity,... -
An analysis of the use of share-based payments by the JSE Top 100 companies
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Ramishka Nardhamuni --- University of the Witwatersrand, South Africa Kayleigh Greenslade --- University of the Witwatersrand, South Africa Wayne van Zijl --- University of the Witwatersrand, South AfricaLimited research has been conducted on companies’ use of share-based payments in a South African context. Where research has been performed, the focus has been predominantly on shared-based payments as part of executive remuneration packages. This paper extends this research... -
Stakeholder and jurisdictional influence over IFRS 10's development
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Monica Teixeira De Freitas --- School of Accountancy, South Africa Wayne van Zijl --- School of Accountancy, South Africa Asheer Jaywant Ram --- School of Accountancy, South Africa Warren Maroun --- School of Accountancy, South AfricaThe International Financial Reporting Standards are voluntarily adopted by 167 countries, including countries in Africa, Australasia, Europe and South America. To maintain its legitimacy, the International Accounting Standards Board (IASB) must not be viewed as being unduly influenced by one... -
Compliance with goodwill impairment disclosure and reasons provided by management: Evidence from South Africa
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: E. Louw --- University of Pretoria, South Africa J. H. Hall --- University of Pretoria, South Africa L. M. Brümmer --- University of Pretoria, South AfricaPurpose: The aim of this article is to investigate compliance with the IFRS disclosure requirements regarding goodwill impairment testing in the South African setting, using JSE-listed firms as a sample. The article considers the explanatory strategies used by management to... -
Size matters: When do minor discontinued operations become major?
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Mattheus Theodorus Mey --- Stellenbosch University, South AfricaPurpose: This paper explores the thresholds that firms apply when classifying discontinued operations in accordance with the requirement in IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (IFRS 5). -
Are financial reporting judgement disclosures by JSE-listed companies ambiguous?
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: Danielle van Wyk --- School of Accountancy, Stellenbosch University, South Africa Gretha Steenkamp --- School of Accountancy, Stellenbosch University, South Africa Nicolene Wesson --- Stellenbosch University, South Africa