Submitted in fulfillment of the requirements for degree of Masters in Management Science (Business Administration), Durban University of Technology, Durban, South Africa, 2015. / This study investigates the influence of the selected financial management fundamentals towards the financial stability of Small and Medium Enterprises (SMEs) in Durban. The SMEs play an important role in the South African economy, by developing new skills. The study was descriptive and quantitative in nature. The tool used in collecting data was a questionnaire, which was self-administered and distributed at the business location of the respondents, with a minimal number of respondents receiving the questionnaire after it was scanned and emailed to them. The respondents consist of following different sectors of SMEs in Durban; trading, manufacturing, industry and Accounting firms. The results obtained were based on the supporting objectives of the study. The findings achieved show that financial reporting contributes indirectly towards the financial stability of the business. The study found that the lack of understanding of financial reporting and insufficient financial experience would have an influence on the financial stability of SMEs. Factors that were found to affect the credibility of financial reporting include poor administrative control of resources, as well as a lack of accurate information and financial data, which results in incorrect financial reports. Other factors found, in establishing the contribution and relationship between financial reporting and financial stability, include: lack of knowledge, lack of financial control processes, and weak cooperation among staff, with training, education, and financial reports management, as well as upgrading and modification of the accounting system The majority of the respondents have experience in the finance sector, and while most have access to training, there are little or no follow-up programmes by internal or external users of financial reports, such as shareholders, banks or the government. As a result, recommendations are made to develop short accounting programmes that will allow owners and accounting staff to gain practical experience in the financial reporting background, which will enable an increase in the level of understanding of financial reporting processes and usability of allocating financial information correctly.

Assignment (MAcc )--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Existing long-term insurance financial reporting practices are heavily based on regulatory foundations. Although the reporting requirements of the long-term insurance industry are unique, there is currently no comprehensive, up to date Financial Reporting Standard in South Africa for long-term insurers. The demand for increased disclosure in the financial statements of long-term insurers increases the importance of the basic accounting principles for these companies as embodied in the Framework for the Preparation and Presentation of Financial Statements, namely comparability, relevance, accuracy and understandability of financial reporting. The SAICA Long-Term Insurance Interest Group discussed the withdrawal of AC121 Disclosure in the Financial Statements of Long-Term Insurers and the replacement thereof by way of other guidance. Ultimately the Accounting Practices Committee has firmly stated that it will not tolerate the ongoing implementation of AC121 because it contradicted a number of other accounting statements and indeed overrode those statements. With this in mind and taking into account the program of harmonising South African accounting standards with International Accounting Standards, it insisted that AC121 be withdrawn and replaced by guidance notes only. The current lack of authoritative South African guidance on financial reporting by long-term insurers results in the potential compromise of the basic qualitative characteristics of comparability and relevance in their financial statements, as certain disclosures are voluntary rather than required. The aim of the research was to assess the impact of the lack of authoritative South African financial reporting guidance relating to South African long-term insurers on the basic financial statement characteristic of comparability. A literature study was undertaken and a checklist for disclosure in the long-term insurance industry was drawn up. The objective was to highlight areas of noncomparable disclosure for which financial reporting standards should be created in order to provide guidance on financial reporting by South African long-term insurers and, where possible, to suggest guidance. Financial statements of selected South African long-term insurers were reviewed and "measured" against the checklist in order to make an assessment of comparability. Currently the disclosure of industry-specific items differs significantly amongst long-term insurance companies in South Africa. The comparability test (on information disclosed in the 2002 annual reports of the selected companies) and the research done on industry-specific items identified by this test indicated the extent of this non-comparability within the South African long-term insurance industry. In view of the recent withdrawal of AC121 and the results of the comparability test, there is reason to believe that each long-term insurer in South Africa discloses what it believes is right and what it believes the industry is required to disclose. This results in significant non-comparability between the financial statements of South African long-term insurers. The author recommends that a long-term insurance industry accounting statement in the AC500 series should be issuéd, which should provide the appropriate guidance not only to preparers of financial statements, but also to other users of financial statements in the long-term insurance industry, until such time as the international accounting project relating to long-term insurers is complete. Some work will be required to update and/or amend a "new AC121" for the AC500 series. / AFRIKAANSE OPSOMMING: Die huidige praktyk vir finansiële verslagdoening van langtermynversekeraars berus grotendeels op 'n regulatoriese grondslag. Hoewel die vereistes vir verslagdoening van die langtermynversekeringsbedryf eiesoortig is, bestaan daar tans in Suid-Afrika geen omvattende hedendaagse Finansiële Verslagdoeningstandaard vir langtermynversekeraars nie. Die vraag na groter openbaarmaking in die finansiële state van langtermynversekeraars verhoog die belangrikheid van basiese rekeningkundige beginsels vir hierdie maatskappye soos vervat in die Raamwerk vir die Voorbereiding en Aanbieding van Finansiële State, naamlik vergelykbaarheid, relevansie, akkuraatheid en verstaanbaarheid van finansiële verslagdoening. SAIGR se Langtermynversekering Belangegroep het die onttrekking van RE121 Openbaarmaking in die Finansiële State van Langtermynversekeraars en die vervanging daarvan deur middel van ander riglyne bespreek. Uiteindelik het die Komitee vir Rekeningkundige Praktyk nadruklik bepaal dat dit nie die voortgesette implementering van RE121 verder kan onderskryf nie, omdat dit teenstrydig is met 'n aantal ander rekeningkundige standpunte en in werklikheid daardie standpunte ter syde stel. Met dien verstande en met inagneming van die harmoniseringsprogram om Suid-Afrikaanse rekeningkundige standaarde in harmonie met Internasionale Rekeningkundige Standaarde te bring, is daarop aangedring dat RE121 onttrek en slegs deur rigtinggewende riglyne vervang word. Die heersende gebrek aan gesaghebbende Suid-Afrikaanse riglyne oor finansiële verslagdoening deur langtermynversekeraars lei tot die potensiële kompromie van die basiese kwalitatiewe eienskappe van vergelykbaarheid en relevansie in hul finansiële state, aangesien sekere openbaarmaking vrywillig eerder as verplig is. Die doel van die navorsing was In bepaling van die impak wat die gebrek aan gesaghebbende riglyne vir Suid-Afrikaanse finansiële verslagdoening met betrekking tot Suid-Afrikaanse langtermynversekeraars op die basiese kenmerk van vergelykbaarheid van die finansiële state het. In Literatuurstudie is onderneem en In toetsstaat vir openbaarmaking in die langtermynversekeringsbedryf is opgestel. Die doelwit was om die soeklig te laat val op terreine waar openbaarmaking nie vergelykbaar is nie, waarvoor standaarde vir finansiële verslagdoening geskep moet word ten einde riglyne te verskaf oor finansiële verslagdoening deur Suid-Afrikaanse langtermynversekeraars en om waar moontlik, voorstelle hiervoor aan die hand te doen. In Oorsig van finansiële state van geselekteerde Suid-Afrikaanse langtermynversekeraars is onderneem en aan die toetsstaat "gemeet" ten einde die vergelykbaarheid te beoordeel. Teenswoordig verskil die openbaarmaking van bedryfspesifieke items aansienlik tussen langtermynversekeringsmaatskappye in Suid-Afrika. Die vergelykbaarheidstoets (volgens inligting wat in die 2002-jaarverslae van die geselekteerde maatskappye verstrek word) en die navorsing wat gedoen is oor bedryfspesifieke items wat deur hierdie toets geïdentifiseer is, toon die omvang van hierdie nievergelykbaarheid binne die Suid-Afrikaanse langtermynversekeringsbedryf. In die lig van die onlangse onttrekking van RE121 en die resultate van die vergelykbaarheidstoets, is daar rede om te glo dat elke langtermynversekeraar in Suid-Afrika opbenbaar wat volgens sy oortuigings reg is en wat hy glo van die bedryf verlang word om te openbaar. Dit lei tot beduidende nie vergelykbaarheid tussen die finansiële state van Suid-Afrikaanse langtermynversekeraars. Die skrywer beveel aan dat 'n rekeningkundige standpunt vir die langtermynversekeringsbedryf in die RE500-reeks uitgereik word, wat die toepaslike riglyne behoort te voorsien nie net aan diegene wat finansiële state voorberei nie, maar ook aan ander gebruikers van finansiële state in die langtermynversekeringsbedryf, tot tyd en wyl die internasionale rekeningkunde projek met betrekking tot langtermynversekeraars afgehandel is. 'n Sekere mate van werk sal nodig wees ten einde 'n "nuwe RE121" vir die RE500 reeks by te werk of dit te wysig.

Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: Mission and vision statements are concepts that are often discussed at meetings where companies discuss and debate whether or not to implement them to ensure sustained profitability or increase the motivation of employees. This, however, is a misconception in the business world since mission and vision statements do not lead to instantaneous success. Mission and vision statements are strategic tools to help organisations to focus on what they are good at and what they stand for. Mission statements help an organisation to identify which current direction the organisation should be taking, whereas a vision statement helps an organisation to identify where it wants to be in the future. A mission and vision statement provides a goal towards which the people of the company can work so that it can be profitable and endure lasting success. This goal binds the workers of an organisation, resulting in people that are happy since they know what the organisation's core purpose is. They key importance of these statements is that they provide guidance of strategic and day-ta-day operational decision-making. Companies that enjoy enduring success have core values and a core purpose that remain fixed, while their business strategies and practices endlessly adapt to a changing world. The dynamics of preserving the core while stimulating progress is the reason that companies such as Hewlett Packard, 3M, Merck, Sony and Nordstrom became elite institutions able to renew themselves. It is important to realise is that there is no documented proof that organisations that do not have these mission and vision statements are less successful than those that do have them. The dynamic of the concepts developed in Built to Last, i.e. preserving the core/stimulate the progress should be kept in mind. Neither vision nor mission statements are the primary engines of enduring great companies, and bear in mind that visions simply provide the guiding context for bringing the this dynamic to life. / AFRIKAANSE OPSOMMING: Missie en visie stellings word dikwels by maatskappy vergaderings bespreek. Die implementering hiervan word beredeneer ten einde voortgesette maatskappy winsgewendheid te verseker en verhoogde werknemer motivering te bewerkstellig. Die sakewêreld het egter 'n wanbegrip van missie en visie stellings aangesien dit nie opsigself lei tot onmiddellike sukses nie. Dit is bloot strategiese middele wat 'n organisasie help fokus op dit waarin hulle goed is en waarna hulle streef. Missie stellings help 'n organisasie om onmiddelik rigting te kry terwyl visie stellings help om toekomstige posisie te identifiseer. Die missie en visie stellings stel 'n doelwit waarna die mense in 'n maatskappy kan werk sodat winsgewendheid en volhoubare sukses behaal kan word. Werknemers in 'n maatskappy word verbind tot hierdie doelwit en dit het werkstevredenheid tot gevolg omdat die kern doel van die organisasie verstaan word. Die belangrikste aspek van hierdie stellings is dat dit 'n riglyn stel vir strategiese en daaglikse operasionele besluitneming. Maatskappye wat volhoubare sukses bewerkstellig, het 'n vaste doel en kern waardes terwyl hul sakestrategie en praktyk gedurig aanpas tot die veranderende wêreld. Die dinamiek van kernbehouding en die stimulasie van vooruitgang is die rede tot maatskappye soos Hewlett Packard, 3M, Merck, Sony en Nordstrom se posisie as elite instansies wat hulself kan hernu. Dit is belangrik om kennis te neem dat geen gedokumenteerde bewys bestaan dat maatskappye wat nie 'n missie en visie stelling het nie, minder suksesvol is as dié wat wel 'n missie en visie stelling het nie. Die dinamiek van die konsep ontwikkel in "Built to Last", naamlik behoud van die kern en stimulasie van vooruitgang, moet in gedagte gehou word. Visie en missie stellings is nie die primêre dryfkrag van blywende maatskappye nie, maar skep bloot die rigtinggewende konteks om hierdie dinamika lewe te gee.

Thesis (MBA)--Stellenbosch University, 1986. / INLEIDING: Maatskappye publiseer jaarliks finansiële state waarin o.a. items soos direkteursvergoeding, ouditfooie, belasting, ens. verskyn. Daar word op 'n gereelde basis by die Universiteit van Stellebosch Nagraadse Bestuurskool (USBS) navorsing gedoen om die tendense van hierdie en ander items te volg. Alhoewel items van belang en die gepaardgaande bedrae relatief maklik geïdentifiseer kan word in die finansiële state van elke maatskappy, onstaan die verskynsel "dubbeltelling" wanneer finansiële inligting van sommige maatskappye bestuur word.

This thesis investigates the impact of accounting standard IAS39 on banking institutions in Greece and the UK.  It specifically addresses preparers’ perceptions of that standard’s effects on the banking books of banks. The research involves a mixed methodology, namely: (i) a survey analysis of the perceptions of banking practitioners in Greece and the UK, in order to identify the standard’s impact on the banking sector as well as to gauge the standard’s acceptance of banks, in order to facilitate a deeper understanding of the implications of the standard for their organisations.  ‘Elite’ interviews also advocate that such high powered individuals are the key holders to privy information. The results suggest that IAS39 is a highly controversial standard that introduces concerns not only for the banks’ valuation of assets and liabilities but also regulatory concerns over issues of policy formulation and stability.  Generally, bankers are negative and largely sceptical of the standard, on the grounds of relevance and reliability.  They do not view the standard as particularly useful, relevant, reliable or transparent for banking disclosures and financial stability when compared to the current mixed methodology approach followed currently for the valuation of assets and liabilities in the banking books of banks.  Most concerns revolve around the standard’s effects on valuation of assets and liabilities, provisioning and hedging issues and bank capital management for regulatory capital purposes. In the introduction of accounting standards attention should be paid to the nature of the industry and the system (i.e. credit versus market-based) in which firms operate, as well as to establishing particular methodologies.  It touches upon a contemporary issue of critical topical and international interest, of how accounting information standards relate to the systemic, operating, credit, market and liquidity risks of a modern, internationalised banking system.

The main objectives of this study are: (1) to examine the role of the company annual reports in investment analysis in Malaysia; and (2) to evaluate the importance of the annual reports as a source of information for analysts to make investment decisions. In order to achieve these research objectives the study begins with a review of the uses and users of financial statements and it is pointed out that one of the important groups of users of the financial statements are the ‘sophisticated’ investors. Prior studies, using tests of the Efficient Market Hypothesis and investors survey, are presented and discussed. The review of prior studies concludes that the area of research into the importance of annual reports for investment decisions are important and that no similar studies involving developing countries had been carried out. The accounting environment in Malaysia was presented to illustrate the regulations and statutes governing the preparation and presentation of information in company annual reports. In the discussions regarding the investment situation in Malaysia, the major characteristics of the Kuala Lumpur Stock Exchange were introduced. A two stage research methodology was adopted in the current research. The first stage involves a survey and analysis of a sample of annual reports of companies listed on the Kuala Lumpur Stock Exchange. This survey revealed instances of companies not complying with the International Accounting Standards adopted by the accounting profession in Malaysia. The second stage consists of a postal questionnaire survey of investment analysts working in institutional investing firms, merchant banks and stockbrokers regarding importance of the annual analysis. Their perceptions of the reports for investment The results of the above surveys are presented together with recommendations to reduce the weaknesses of the annual reports of Malaysian companies. Finally, related areas for further research are suggested at the end of the thesis.

M.Com. / Please refer to full text to view abstract

This research examines whether firms managed earnings in the year they adopted SFAS 109, Accounting for Income Taxes (or its predecessor SFAS 96), by combining the choice to adopt SFAS 109 with other accounting choices in an interdependent rather than independent manner. Prior literature generally analyzes only one specific accounting choice, assuming that the decision is independent of other accounting procedure choices. However, it is unlikely that managers act in this manner. When attempting to achieve certain income goals, managers have numerous accounting tools available to them including the choice of accounting procedures and the exercise of judgment as to accrual amounts. This study investigates five choices consisting of: (1) the adoption of SFAS 109/96; (2) the adoption of SFAS 106; (3) the reporting of a restructuring of operations and/or a write-down of assets; (4) the reporting of asset sales; and (5) the choice of discretionary accruals. The study adopts both a portfolio and joint decision approach. The portfolio approach combines the earnings effects of the five choices into a single dependent variable and tests income smoothing, big bath, and debt hypotheses. The joint decision approach utilizes simultaneous equation methodology to investigate the interdependence of the five choices and the independent variables. The portfolio approach findings provide evidence that firms used the combined effect of the five accounting choices to smooth income in the year they adopted FAS 109/96. The results also provide support for the debt hypothesis but do not support the big bath hypothesis. The joint decision approach findings provide evidence that firms jointly determined at least two of the five accounting choices. The strong support for the income smoothing hypothesis under the portfolio approach combined with the joint significance of the individual accounting choices in the simultaneous equations suggests that firms use a multitude of accounting choices to manage earnings and that some of those decisions are made jointly, not independently.

M.Com. (Economics) / The aim of this study is to determine whether the different methods of translation are conceptually accounted for. The disclosure practices currently being used in South Africa were evaluated to determine to what extent financial statements comply with the relevant standard of accounting practice. The objective of translation used as basis for the problem of foreign currency translation is compatible with the concept of economic decision-making usefulness. The acceptance of an objective of translation is a prerequisite for a specific methcx1 of translation. The temporal method and the closing rate method are both, depending on the specific circumstances, conceptually accounted for. There are material differences between the approach suggested by Jean Miller and current international practice. All translation differences are, according to this approach, accounted for in the inccme statement. Miller's approach has certain advantages and should be supplied to the business sector for commentary. There are no material differences between the standards of the Accounting Practice Board, the Financial Accounting standards Board, the International Accounting standards Camzi.ttee and the Accounting standards Camzi.ttee when it comes to the translation of the financial statements of foreign operations. Against this backgrexmd, the financial statements of selected ccmpani.es were evaluated for ccmpliance wi th statement RE 112 and exposure draft 83. The evaluation indicated that the closing rate method 1 is being used by the majority of companies. Translation differences are directly accounted for against non-distributable reserves. The assumption is that the business sector would not support: Miller's approach, due to the fact that all translation differences are exempted for in the income statement.

The purpose of this study was to investigate the programmatic values of Southern Baptist youth ministries, providing a descriptive analysis of youth ministries' core values communicated through programmatic methodology. To accomplish this aim, the researcher examined youth ministry mission statements, financial expenditures, and ministerial activities of the youth pastor. The mixed method research design consisted of two phases. Phase one utilized a Delphi panel of youth ministry educators who have expertise in the theory and practice of youth ministry, as well as knowledge of the literature. The panel compiled a list of foundational values and a list of popular values. The second phase utilized these values to survey SBC youth ministry mission statements, financial expenditures, and ministerial activities of the youth pastor. Using the financial expenditures and ministerial activities the researcher provided a descriptive analysis of the programmatic values. Additionally, the programmatic values were examined in light of the stated values as well as the supplied demographic and ministerial information. / This item is only available to students and faculty of the Southern Baptist Theological Seminary. If you are not associated with SBTS, this dissertation may be purchased from <a href="http://disexpress.umi.com/dxweb">http://disexpress.umi.com/dxweb</a> or downloaded through ProQuest's Dissertation and Theses database if your institution subscribes to that service.