Bestuurstrategieë bepaal die tempo van kapitaalakkumulasie onder verski1lende ekonomiese toestande. Strategiese beplanning help bestuur om by 'n vinnig veranderende omgewing aan te pas. Die volgende finansiële komponente het 'n wesentlike invloed op die onderneming se groeivermoë en voortbestaan: winsgewendheid, hoeveelheid vreemde kapitaal gebruik, koste van kapitaal, belastingskoerse en konsumpsiegeneigdheid. Die finansiële risiko wat 'n ondememing kan aanvaar, word hoofsaaklik bepaal deur die vlak van besigheidsrisiko inherent aan ondernemingsbedrywighede. In hierdie studie is die effck van verskillende groeistrategieë op ondernemingsgroei onder dinamiese toestande wat risiko en onsekerheid insluit, bepaal. Netto-waardes en lewenstandaarde was maatstawwe van sukses. 'n Simulasiemodel van die besluitnemingsproses van boerdery-ondernemings is hiervoor gebruik. Die vorige jaar se resultate word evalueer en moontlikhede vir uitbreiding of byhuur word ondersoek. Die jaar se bedryfsplan word gedeeltelik gebaseer op die mate van sukses behaal met diè van die vorige jaar. Alternatiewe planne kan ook opgestel, evalueer en begroot word. Doelwitte, hulpbronbeskikbaarheid, ekonomiese toestande en prys- en opbrengsverwagtings word inkorporeer. Vyf grondverkrygingstrategieë is getoets: (1) Slegs huur; (2) Slegs kontantgrondaankope; (3) Aankoop en huur by elke geleentheid; (4) Aankope slegs elke vyfdejaar; (5) Koop slegs wanneer laste: bate verhouding gunstig is. Ander beheerde veranderlikes was inflasie- en rentekoerse (drie peile); leningsbeperkings (twee peile); bestuursvermoeëns (twee peile) en beginsituasies (twee). Deterministiese en stochastiese modelle is gebruik. In die deterministiese model was pryse en opbrengste konstant. In die stoehastiese model is pryse en opbrengste gefluktueer deur middel van 'n ewekansige getalle generator; elke geval is twintig keer herhaal. Vanuit gegewens van progressiewe boere in Wes-Transvaal is 'n tipiese onderneming gesintetiseer, en kombinasies van beheerde veranderlikes is gesimuleer. Resultate toon dat netto-waarde in 'n groot mate bepaal word deur hoe vinnig die ondernemer grond bekom. Indien insetpryse relatief tot produkpryse toeneem (hoë inflasie) toon ondernemings in die algemeen min of geen reële groei. Matige en aansienlike groei is onderskeidelik onder geen en matige inflasie ondervind. Onder matige inflasie in die deterministiese model het die mees liberale strategie (koop en huur by elke geleentheid) met die konserwatiewe leningsbeperking, die beste resultate gegee. Die kontantaankoopstrategie het onder geen en hoë inflasie met die konserwatiewe leningsbeperking die beste gevaar. In die stochastiese model het kontantaankope met die konserwatiewe leningsbeperking die beste gevaar tydens geen- en matige inflasietoestande (waar prysveranderings die produsent begunstig). Tydens hoë inflasie het die liberale leningsbeperking oorlewing meegebring. Onder hoë inflasie is die beskikbaarheid van kontant, te midde van dalende winsgewendheid van deurslaggewende belang. Korttermynkrediet het vinnig onder hierdie toestande toegeneem. Resultate in die stochastiese model het daarop gedui dat 'n deterministiese ontleding rcsultate in 'n groat mate oorskat. Prys- en opbrengsvariabiliteit neig om die eind netto-waarde aansienlik te verminder. Die simulasiemodel het insiggewende inligting vir beleidsdoeleindes verskaf. Aspekte soos inkomstebelasting, rentekoerse en middeltermynkredietverskaffing kry verdere aandag. ENGLISH : Business strategies determine the rate of capital accumulation under different economic situations. Strategic planning aids management in adjustment to a rapidly changing environment. The following financial components have a substantial effect on the firm's growth potential and survival: profitability; amount of non-equity capital employed, cost of capital, tax rates and propensity to consume. The financial risk that a firm can accept, is mainly determined by the level of business risk inherent in its operations. In this study the effects of different growth strategies on firm growth were determined under dynamic circumstances which include risk and uncertainty. Net worth and living standards were criteria of success. A simulation model of the decisionmaking process in farm firms was used for this purpose. Results of the previous year are evaluated and possibilities for expansion or rent are examined. The year's operational plan is partly determined by the extent of success of the previous year's plan. Alternative plans can also be formulated, evaluated and budgeted. Goals, resource availability, economic circumstances and price and yield expectations are incorporated Five land procurement policies were tested: (1) Only renting; (2) Only cash land purchases; (3) Purchase and rent at every opportunity; ( 4) Purchase every fifth year; (5) Purchase only when debt : asset ratio is favourable. Other controlled variables were inflation and interest rates (three levels); credit limitations (two levels); managerial ability (two levels) and starting situations (two). Deterministic and stochastic models were used. In the deterministic model prices and yields were constant. In the stochastic model a random number generator was used to fluctuate yields and prices; each case was repeated twenty times. From information obtained from progressive farmers in Western Transvaal a typical firm was synthesized and combinations of controlled variables were simulated. Results indicate that net worth is largely determined by the rate at which the operator gains control over land. When input prices increase relative to product prices (high inflation) firms generally show little or no real growth. Moderate and substantial growth occur under no and moderate inflation respectively. Under moderate inflation, using the deterministic model, the most liberal strategy (purchase and rent at every opportunity) with the conservative credit limitation gave best results. The cash purchase strategy with the conservative credit limitation gave the most success under no and high inflation. In the stochastic model cash purchases with the conservative credit limitation fared best during no and moderate inflation circumstances (where price changes favour the producer). During high inflation the liberal credit limitation achieved survival. During high inflation the availability of cash is, in the midst of declining profitability, of decisive importance. Short term credit increased rapidly under these circumstances. Results of the stochastic model suggest that a deterministic· analysis over-estimates results markedly. Price and yield variability tended to decrease the end net worth substantially. The simulation model yielded elucidatory information for policy purposes. Aspects such as income tax, interest rates and medium term credit provision require further attention. Copyright / Thesis (DSc(Agric))--University of Pretoria, 1979. / Agricultural Economics, Extension and Rural Development / unrestricted

Businesses' demand for information technology-(IT) capacity and IT solutions are growing daily. As available services and products expand, users require more convenience, cost savings, user-friendliness and reliability. Manufacturers of mobile devices have always been motivated to develop mobile devices which are more flexible and reliable. As a consequence of the above mentioned, the importance of business in the modern technological environment was greatly overestimated as a result of development in mobile technology. Mobile technology breaks the limitations of mobility in businesses which provides innovative possibilities Mobile distance-based services have attracted much attention because of the growing potential that it offers. Businesses need mobile options that deal with specific needs. A mobile accounting system will provide adaptability and flexibility to an entity, which at this stage has not been possible. An improved adaptability and flexibility of enterprises will have a positive impact on productivity and innovation as a result. The rapid growth and development of mobile technology creates the opportunity for the development of many innovative mobile applications. From the above it is clear that there is an existing trend that companies want to implement more mobility in their business. From an accounting perspective, small-to medium-sized businesses have simpler rules and regulations that must be obeyed (IFRS for SMEs). Thus, the point of entrance of this study will focus on the feasibility of a mobile accounting system for small to medium sized entities (SME). On a global scale, should the importance of small-to medium-sized entities (SMEs) not be overlooked. SMEs are the mainstay of most national economies and represent between 30 to 60 percent of the economy's gross domestic product. A mobile accounting system will provide managers and business owners the option to have “anytime anywhere” access to the entity's financial information. This will also allow businesses to be more mobile. Thus, invoices can be issued, receivables added, payments entered (creditors and so on) and all this can be done without physically being on the business premises. The mobile system will therefore communicate in real time with the database on the business premises which is stored electronically and so information for everyone who uses it will be updated and correct. / MCom (Accountancy), North-West University, Potchefstroom Campus, 2014

Businesses' demand for information technology-(IT) capacity and IT solutions are growing daily. As available services and products expand, users require more convenience, cost savings, user-friendliness and reliability. Manufacturers of mobile devices have always been motivated to develop mobile devices which are more flexible and reliable. As a consequence of the above mentioned, the importance of business in the modern technological environment was greatly overestimated as a result of development in mobile technology. Mobile technology breaks the limitations of mobility in businesses which provides innovative possibilities Mobile distance-based services have attracted much attention because of the growing potential that it offers. Businesses need mobile options that deal with specific needs. A mobile accounting system will provide adaptability and flexibility to an entity, which at this stage has not been possible. An improved adaptability and flexibility of enterprises will have a positive impact on productivity and innovation as a result. The rapid growth and development of mobile technology creates the opportunity for the development of many innovative mobile applications. From the above it is clear that there is an existing trend that companies want to implement more mobility in their business. From an accounting perspective, small-to medium-sized businesses have simpler rules and regulations that must be obeyed (IFRS for SMEs). Thus, the point of entrance of this study will focus on the feasibility of a mobile accounting system for small to medium sized entities (SME). On a global scale, should the importance of small-to medium-sized entities (SMEs) not be overlooked. SMEs are the mainstay of most national economies and represent between 30 to 60 percent of the economy's gross domestic product. A mobile accounting system will provide managers and business owners the option to have “anytime anywhere” access to the entity's financial information. This will also allow businesses to be more mobile. Thus, invoices can be issued, receivables added, payments entered (creditors and so on) and all this can be done without physically being on the business premises. The mobile system will therefore communicate in real time with the database on the business premises which is stored electronically and so information for everyone who uses it will be updated and correct. / MCom (Accountancy), North-West University, Potchefstroom Campus, 2014

SMEs can play a significant role in the economy as drivers of economic growth and job creation. Many SMEs are, however constrained by their limited access to finance. This study examines the source of finance of firms in South Africa and estimates the importance of finance as a predictor of output per worker. Using the 2007 World Bank Enterprise Survey, the study focuses on the firm’s access to finance, or sources of finance, as a predictor of the productivity of South African firms. Other factors that are taken into account include sources of finance such as the overdraft of the firm, collateral available and the type of financial institution used to acquire financing. These covariates all play an integral role in whether or not the firm will receive the financing, the amount granted and the repayment terms. Empirical analysis is done with a Cobb–Douglas production function regression to determine how output per worker is influenced by various factors. The results show that output per worker improves as additional finance variables are added to the regression model. Using an access to finance dummy as the dependent variable, a logistic regression model is used to calculate the probability of access to finance as a constraint based on the independent variables. The results of the logistic regression show that the probability of firms’ experiencing access to finance as a constraint is decreased by variables such as fixed assets and increase with negative factors such existing debt and collateral. These results are expected based on previous research on the topic and confirms that access and finance sources are determinants for firm growth. Recommendations include more extensive research on the topic, with panel data over a longer period and specific to a country. Policy recommendations include amended evaluation techniques, adapted to the individual firm’s requirements and strengths. / Thesis (M.Com. (Economics))--North-West University, Potchefstroom Campus, 2012.

SMEs can play a significant role in the economy as drivers of economic growth and job creation. Many SMEs are, however constrained by their limited access to finance. This study examines the source of finance of firms in South Africa and estimates the importance of finance as a predictor of output per worker. Using the 2007 World Bank Enterprise Survey, the study focuses on the firm’s access to finance, or sources of finance, as a predictor of the productivity of South African firms. Other factors that are taken into account include sources of finance such as the overdraft of the firm, collateral available and the type of financial institution used to acquire financing. These covariates all play an integral role in whether or not the firm will receive the financing, the amount granted and the repayment terms. Empirical analysis is done with a Cobb–Douglas production function regression to determine how output per worker is influenced by various factors. The results show that output per worker improves as additional finance variables are added to the regression model. Using an access to finance dummy as the dependent variable, a logistic regression model is used to calculate the probability of access to finance as a constraint based on the independent variables. The results of the logistic regression show that the probability of firms’ experiencing access to finance as a constraint is decreased by variables such as fixed assets and increase with negative factors such existing debt and collateral. These results are expected based on previous research on the topic and confirms that access and finance sources are determinants for firm growth. Recommendations include more extensive research on the topic, with panel data over a longer period and specific to a country. Policy recommendations include amended evaluation techniques, adapted to the individual firm’s requirements and strengths. / Thesis (M.Com. (Economics))--North-West University, Potchefstroom Campus, 2012.

Multinational enterprises have been widely accused of using aggressive tax planning schemes to avoid paying tax all over the world. The purpose of this study is to analyse the methods used by multinational enterprises in the context of business restructurings to shift profits from high to low tax jurisdictions. Transactions between associated entities have generally been manipulated by applying non-arm’s length prices to these transactions, as well as devising agreements where the economic substance varies from the form of the transaction. The study aims to investigate some of the practical challenges faced by tax administrators in the application of the arm’s length principle. The study was conducted based on a literature review, as well as analysing specific examples reported in newspapers where multinational enterprises have used aggressive tax planning schemes to shift profits. International case law was also analysed to evaluate some of the factors considered by the courts in the determination of the arm’s length price. It was found that multinational enterprises definitely use aggressive tax planning schemes to shift profits. The practical challenges in the determination of arm’s length prices, complexity of the transactions involved, as well as a lack of resources, especially in the developing nations, are some of the factors that cause tax administrators to battle to find a solution to deter and detect these schemes. Other methods such as the unitary taxation method and the country by country reporting concept have been brought forward as alternatives to the arm’s length principle. These alternatives have been proposed in an effort to find a solution to the challenges posed by the arm’s length principle. Specific measures have also been recommended for developing nations’ tax administrators to resolve the issues that they currently experience in this context. / Thesis (MCom (South African and International Taxation))--North-West University, Potchefstroom Campus, 2013

Multinational enterprises have been widely accused of using aggressive tax planning schemes to avoid paying tax all over the world. The purpose of this study is to analyse the methods used by multinational enterprises in the context of business restructurings to shift profits from high to low tax jurisdictions. Transactions between associated entities have generally been manipulated by applying non-arm’s length prices to these transactions, as well as devising agreements where the economic substance varies from the form of the transaction. The study aims to investigate some of the practical challenges faced by tax administrators in the application of the arm’s length principle. The study was conducted based on a literature review, as well as analysing specific examples reported in newspapers where multinational enterprises have used aggressive tax planning schemes to shift profits. International case law was also analysed to evaluate some of the factors considered by the courts in the determination of the arm’s length price. It was found that multinational enterprises definitely use aggressive tax planning schemes to shift profits. The practical challenges in the determination of arm’s length prices, complexity of the transactions involved, as well as a lack of resources, especially in the developing nations, are some of the factors that cause tax administrators to battle to find a solution to deter and detect these schemes. Other methods such as the unitary taxation method and the country by country reporting concept have been brought forward as alternatives to the arm’s length principle. These alternatives have been proposed in an effort to find a solution to the challenges posed by the arm’s length principle. Specific measures have also been recommended for developing nations’ tax administrators to resolve the issues that they currently experience in this context. / Thesis (MCom (South African and International Taxation))--North-West University, Potchefstroom Campus, 2013

Abstract in English, Afrikaans and Zulu / The environment in which a business operates consists of various forces which exert positive or negative influences on the business. Since they contribute to or deter from the achievement of business objectives, it is essential that they be identified and investigated. The aim of this study was to determine the environmental forces which affect the operations of small, medium and micro independent caterers in Cape Town. In this context, the micro, market and macro-environments were examined. It is hoped that the results of the study will assist these caterers in their awareness of pertinent factors in their business environment, as well as the strengths, weaknesses, opportunities and threats arising therein. They can use this information in strategy development, to reach their objectives, and to enhance their competitive advantage and profitability. Primary data was collected from the business owners or managers through an online survey. The survey covered firmographic business details, as well as demographic details of the owners/managers. Thereafter, their opinions were elicited regarding the impact of various factors in their business environment. The main findings are the following: The greatest positive impacts on the small, medium and micro independent caterers are the abilities of the owners/managers, relationships with suppliers, the internet, and the control of materials and production processes. The greatest challenges faced are financial resources, marketing strategies, online services, competitors, customer demands, the current state of the economy and legal regulations. / Die omgewing waarin 'n onderneming werksaam is, bestaan uit verskeie magte wat die onderneming positief of negatief kan beïnvloed. Aangesien dit tot die onderneming se doelstellings kan bydra of keer dat die onderneming dit bereik, is dit noodsaaklik dat dit geïdentifiseer en ondersoek word. Die doel van hierdie studie was om die omgewingsmagte te bepaal wat die werksaamhede van klein, medium en mikro-onafhanklike spyseniers in Kaapstad beïnvloed. In hierdie konteks is die mikro-, mark- en makro-omgewings ondersoek. Die hoop is dat die bevindings van die studie hierdie spyseniers sal help om bewus te wees van die toepaslike faktore in hul sakeomgewing asook hul sterkpunte, swakpunte, geleenthede en bedreigings wat daarin tot stand kom. Hulle kan hierdie inligting gebruik om 'n strategie te ontwikkel om hul doelstellings te bereik en hul mededingingsvoorsprong en winsgewendheid te bevorder. Primêre data is van sake-eienaars of -bestuurders verkry deur 'n aanlyn opname. Die opname het die onderneming se firmografiese besonderhede asook die eienaars/bestuurders se demografiese besonderhede gedek. Daarna is hul menings oor die invloed van verskeie faktore in hul sakeomgewing gevra. Die volgende is bevind: Die grootste positiewe invloede op klein, medium en mikro-onafhanklike spyseniers is die eienaars/bestuurders se vermoëns, verhoudings met verskaffers, die internet en die beheer van materiale en produksieprosesse. Die grootste uitdagings was finansiële hulpbronne, bemarkingstrategieë, aanlyn dienste, mededingers, klante se eise, die huidige stand van die ekonomie en wetlike regulasies. / Indawo eliqhubeka kuyo ishishini inamasolotya amaninzi asenokuba nefuthe elihle okanye elibi kwishishini elo. Njengoko la masolotya encedisa okanye ethintela ukuphunyezwa kweenjongo zeshishini, kubalulekile ukuba anakanwe kwaye aphandwe. Injongo yesi sifundo yayikukuphonononga amanqanaba achaphazela ukusebenza kwamashishini okupheka azimeleyo, amancinci, aphakathi namancinci kakhulu eKapa. Kule meko, kwaqwalaselwa iindawo zokusebenza ezincinci kakhulu, ezinkulu kakhulu neemarike. Kuthenjwa ukuba iziphumo zesi sifundo ziya kubanceda oosomashishini bokupheka ukuze baqaphele imibandela ebalulekileyo malunga nomsebenzi wabo, baqonde amandla, ubuthathaka kunye namathuba avelayo kolu shishino. Bangalusebenzisa olu lwazi ekuqulunqeni amacebo obulumko okuphumeza iinjongo zabo kunye nokomeleza amathuba abo okuphumelela kukhuphiswano nokwenza inzala. Kwenziwa uhlolo zimvo kusetyenziswa i-intanethi ekuqokeleleni ulwazi ngqo kubanini nabaphathi bamashishini. Olu hlolo zimvo lwaqwalasela iinkcukacha ezingundoqo zamashishini kwakunye nesibalo sabanini/abaphathi bamashishini. Emva koko, kwafunwa izimvo zabo malunga nefuthe lemiba ethile kwiindawo zabo zoshishino. Okuphambili okwafunyaniswayo koku: Okona kukhulu okuchaphazela kakuhle amashishini okupheka azimeleyo amancinci, aphakathi namancinci kakhulu ngamandla okuba nakho abanini/abaphathi, ulwalamano nabo bathengisa izixhobo zokuqhuba ishishini, i-intanethi, kunye nolawulo lweenkqubo zokuvelisa. Eyona mingeni iphambili yimithombo yemali, amacebo okubhengeza ishishini, iinkonzo zokuthenga ngeintanethi, abakhuphisani, izinyanzeliso zabaxumi, isimo sezoqoqosho esigqubayo kwakunye nemigaqo yomthetho. / Business Management / M. Com. (Business Management)

An increase in economic globalisation and international trade the past two decades has amounted to an increase in the number of multinational enterprises that conduct business, own assets and have debt in various jurisdictions around the world. This, coupled with the recent worldwide economic recession, has inevitably caused the increased occurrence of multinational financial default, also known as cross–border insolvency (CBI). CBI refers to the situation where insolvency proceedings are initiated in one jurisdiction with regard to a debtor’s estate and the debtor also has property, debt or both in at least one other jurisdiction. When a multinational enterprise is in financial distress, the structure of such an enterprise poses significant challenges to the question of how to address its insolvency. This is due to the fact that, although the multinational enterprise is found globally in different jurisdictions around the world, the laws addressing its liquidation are local. The possibility of restructuring the multinational enterprise or liquidating it in order the satisfy creditor claims optimally depends greatly upon the ease with which the insolvency law regimes of multiple jurisdictions can facilitate a fair and timely resolution to the financial distress of that multinational enterprise. The legal response to this problem has produced two important international instruments which were designed to address key issues associated with CBI. Firstly, the United Nations Commission on International Trade Law (UNCITRAL) adopted the UNCITRAL Model Law on Cross–Border Insolvency in 1997, which has been adopted by nineteen countries including the United States of America (in the form of Chapter 15 of the US Bankruptcy Code) and South Africa (in the form of the Cross–Border Insolvency Act 42 of 2000). Secondly, the European Union adopted the European Council Regulation on Insolvency Proceedings (EC Regulation) in 2000. These two instruments address the management of general default by a debtor and are aimed at providing a legal framework which seeks to enhance legal certainty, cooperation, coordination and harmonization between states in CBI matters throughout the world. After discussing the viewpoints of various writers, it seems clear that “modified universalism” is the correct approach towards CBI matters globally. This is mainly due to the fact that the main international instruments currently dealing with CBI matters are all based upon “modified universalism”. By looking at various EU and US case law it is also evident that, although there is currently still no established test for the determination of the “centre of main interest” (COMI) of a debtor–company under Chapter 15, there is a difference in the approach adopted by courts in the EU and those in the US in this regard. This dissertation further discusses the requirements for a debtor–company to possess an “establishment” for the purpose of opening foreign non–main insolvency proceedings in a jurisdiction as well as the choice–of–law considerations in CBI matters. / Thesis (LL.M. (Import and Export Law))--North-West University, Potchefstroom Campus, 2011.

An increase in economic globalisation and international trade the past two decades has amounted to an increase in the number of multinational enterprises that conduct business, own assets and have debt in various jurisdictions around the world. This, coupled with the recent worldwide economic recession, has inevitably caused the increased occurrence of multinational financial default, also known as cross–border insolvency (CBI). CBI refers to the situation where insolvency proceedings are initiated in one jurisdiction with regard to a debtor’s estate and the debtor also has property, debt or both in at least one other jurisdiction. When a multinational enterprise is in financial distress, the structure of such an enterprise poses significant challenges to the question of how to address its insolvency. This is due to the fact that, although the multinational enterprise is found globally in different jurisdictions around the world, the laws addressing its liquidation are local. The possibility of restructuring the multinational enterprise or liquidating it in order the satisfy creditor claims optimally depends greatly upon the ease with which the insolvency law regimes of multiple jurisdictions can facilitate a fair and timely resolution to the financial distress of that multinational enterprise. The legal response to this problem has produced two important international instruments which were designed to address key issues associated with CBI. Firstly, the United Nations Commission on International Trade Law (UNCITRAL) adopted the UNCITRAL Model Law on Cross–Border Insolvency in 1997, which has been adopted by nineteen countries including the United States of America (in the form of Chapter 15 of the US Bankruptcy Code) and South Africa (in the form of the Cross–Border Insolvency Act 42 of 2000). Secondly, the European Union adopted the European Council Regulation on Insolvency Proceedings (EC Regulation) in 2000. These two instruments address the management of general default by a debtor and are aimed at providing a legal framework which seeks to enhance legal certainty, cooperation, coordination and harmonization between states in CBI matters throughout the world. After discussing the viewpoints of various writers, it seems clear that “modified universalism” is the correct approach towards CBI matters globally. This is mainly due to the fact that the main international instruments currently dealing with CBI matters are all based upon “modified universalism”. By looking at various EU and US case law it is also evident that, although there is currently still no established test for the determination of the “centre of main interest” (COMI) of a debtor–company under Chapter 15, there is a difference in the approach adopted by courts in the EU and those in the US in this regard. This dissertation further discusses the requirements for a debtor–company to possess an “establishment” for the purpose of opening foreign non–main insolvency proceedings in a jurisdiction as well as the choice–of–law considerations in CBI matters. / Thesis (LL.M. (Import and Export Law))--North-West University, Potchefstroom Campus, 2011.