Thesis (MBA)--Stellenbosch University, 2003. / ENGLISH ABSTRACT: The study involves an examination of the current situation of the responsibility of companies listed on the Johannesburg Stock Exchange on the disclosure requirements of the accounting standards. In 1995, Statement AC 108 'Inventories' was introduced and it deals with the definition and disclosure of cost of sales. In 1997, Statement AC 306 was introduced and deals with the scope, calculation and disclosure of headline earnings per share (HEPS). The research shows that since the disclosing requirements of Statements 108 and 306 (cost of sales and HEPS) were published, there has been a significant effect on the nature of disclosure of these items by listed South African companies. In addition, income statement items (not yet part of the USB database) were identified and will be loaded onto the USB database of income statements of industrial companies listed on the JSE. These items are: ~ Cost of sales, ~ Gross profit, ~ Gross profit percentage, and ~ HEPS. A large sample of four hundred companies' financial statements over an eleven year period (1990 - 2000) was reviewed, and the data regarding sales, cost of sales, EPS, HEPS, exceptional items, abnormal items and extraordinary items were recorded on a spreadsheet model. Regarding cost of sales, the gross profit and gross profit percentage were calculated, and the arithmetic and weighted means were calculated. The data was analysed against the disclosure requirements and it was found that thirty percent of the companies on the USB's database reports cost of sales as an item on the income statement (without disclosing the item as specified above in "notes to the income statement)". Seventy percent reports cost of sales as a note underoperating profit in the income statement. First in, first out (FIFO) is the method of inventory valuation that is clearly the dominant method used by listed companies in South Africa. An analysis of the HEPS of the listed companies revealed a similar trend and the majority of companies disclosing HEPS do so as per the requirements set out in Statement AC 306. / AFRIKAANSE OPSOMMING: Hierdie studie behels 'n ondersoek na die huidige situasie van maatskappye wat genoteer is op die Johanneburg Effektebeurs se verantwoordelikheid ten opsigte van bekendmaking van rekeningkundige standaarde. Gedurende 1995 is Standpunt RE 108 gepubliseer en dit handel oor die defineëring en openbaarmaking van koste van verkope. Gedurende 1997, is Standpunt RE 306 bekendgestel en handel oor die omvang, berekening en bekendmaking van wesensverdienste per aandeel. Die navorsing toon dat sedert Standpunte 108 en 306 (koste van verkope en wesensverdienste per aandeel) gepubliseer is, daar 'n aansienlike effek op die aard van bekendmaking van hierdie items deur genoteerde Suid Afrikaanse maatskappye is. Verder is inkomstestaat items (wat nog nie deel van die USB databasis is nie) geidentifiseer en sal op die USB databasis van inkomstestate van industriële maatskappye genoteer op JEB geplaas word. Hierdie items is: ~ Koste van verkope, ~ Bruto wins, ~ Bruto wins persentasie, en ~ Wesensverdienste per aandeel. 'n Groot steekproef van 400 maatskappye se finansiële state oor 'n 11 jaar tydperk (1990 - 2000) is nagegaan, en die inligting aangaande verkope, koste van verkope, verdienste per aandeel, wesensverdienste per aandeel, abnormale en uitsonderlike items is opgeneem in 'n sigblad model. Wat die koste van verkope betref, is die bruto wins en bruto wins persentasie bereken, en die gewone sowel as die geweegde gemiddeldes is bereken. Die data is geanaliseer teen die bekendmaking vereistes en daar is gevind dat ongeveer dertig persent van die maatskappye op die USB se databasis rapporteer koste van verkope as 'n item op die inkomstestaat. Sewentig persent rapporteer koste van verkope as 'n nota onder bedryfswins in die inkomstestaat. Eerste in, eerste uit (EIEU) is duidelik die vooraadwaardasie wat die meeste gebruik word deur genoteerde maatskappye in Suid Afrika. 'n Analise van die wesensverdienste per aandeel van die genoteerde maatskappye dui 'n soortgelyke tendens en die meerderheid van maatskappye wat wesensverdienste per aandeel verklaar, doen so volgens die vereistes soos neergelê in Standpunt RE 306.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: Users of Cash Flow Statements expect the information provided as cash flow from operating and investing activities to serve as a possible indicator that the company is facing bankruptcy. Traditionally, companies disclose depreciation as an operating activity and replacement of fixed assets as an investing activity. Companies that direct cash payments toward dividend and future expansion without addressing replacement of fixed assets are creating an unrealistic picture of their operating and investing activities. Generally accepted accounting practices (GAAP) have limited its disclosure requirements and has not addressed the issue of separating the expansion of fixed assets from replacement. This mini-study project researches the impact of disclosing depreciation as an investing activity and the replacement of fixed assets as an operating activity. Based on the findings, it is recommended that GAAP make it a requirement that the replacement and expansion of fixed assets be disclosed separately. It is further recommended that either depreciation be disclosed as an investing activity, or that replacement of fixed assets be disclosed as an operating activity on the Cash Flow Statement. The methods of disclosure investigated in the study will lead to an improvement in the ability of the two activities to serve as possible early indicators of bankruptcy. / AFRIKAANSE OPSOMMING: Gebruikers van kontantvloeistate verwag dat die inligting wat verskaf word van die bedryfs- en investeringsaktiwiteite as 'n moontlike indikator van die ondergang van die onderneming moet kan dien. Waardevermindering word tradisioneel as 'n bedryfsaktiwiteit openbaar, terwyl die vervanging van vaste bates as 'n investeringsaktiwiteit openbaar word. Ondernemings wat direkte kontantbetalings as dividende en toekomstige uitbreiding openbaar sonder dat die vervanging van vaste bates aangespreek word, skep 'n onrealistiese beeld van hul bedryfs- en investeringsaktiwiteite. Algemeen aanvaarde rekeningkundige beginsels het die openbaarmakingsvereistes beperk en spreek nie die skeiding tussen uitbreiding van bates en die vervanging daarvan aan nie. Hierdie mini-werkstuk ondersoek die impak van die openbaarmaking van waardevermindering as 'n investeringsaktiwiteit en vervanging van vaste bates as 'n bedryfsaktiwiteit. Gebaseer op die bevindinge word daar aanbeveel dat die algemeen aanvaarde rekeningkundige beginsels dit 'n vereiste maak dat die vervanging en uitbreiding van vaste bates apart openbaar word. Verder word aanbeveel dat waardevermindering as 'n investeringsaktiwiteit of vervanging van vaste bates as 'n bedryfsaktiwiteit in die kontantvloeistaat openbaar word.

Thesis (MBA)--Stellenbosch University, 1997. / ENGLISH ABSTRACT: This study project comprises an analysis of the Cash Flow Statements of a number of delisted companies for the years in which the companies were listed on the Johannesburg Stock Exchange. The trends in the cash flow infonnation for the years prior to delisting is summarised in order to detennine whether the Cash Flow Statement can be utilised as an aid in the prediction of financial failure. The validity of the foUowing hypothesis is tested against the results of the study: If the cash flow from operations of a company is very low or negative for two years, the company will be delisted, except if an issue of shares can be done. From a sample of 46 companies, the following was derived: 16 companies encountered cash flow problems and tried to delay delisting by issuing shares. 19 companies encountered cash flow problems, but did not try to delay delisting through tbe issue of shares. 11 companies were delisted for reasons other than cash flow problems. The fmal conclusion is tbat the Cash Flow Statement can be utilised as an aid in the prediction of fmancial failure, but compliance to tbe bypotbesis does not necessarily mean tbat failure is inevitable. / AFRIKAANSE OPSOMMING: Hierdie werkstuk behels 'n ontleding van die Kontantvloeistate van 'n aantal gedenoteerde maatskappye vir die jare waarin die maatskappye genoteer was op die Jobannesburgse Effektebeurs. Die tendense wat waargeneem word in die kontantvloei oor 'n aantal jare tot en met denotering word saamgevat ten einde vas te stel of die Kontantvloeistaat gebruik kan word as hulpmiddel in die voorspelling van finansiele mislukking. Die volgende hipotesestelling word gemaak en dan getoets aan die hand van die resultate van die studie: Indien die kontantvloei uit bedrywighede van 'n maatskappy vir twee jaar baie laag of negatief is, sal die maatskappy denoteer behalwe as 'n uitgifte van aandele gemaak kan word. Uit 'n steekproef van 46 maatskappye is die volgende afgelei: 16 maatskappye het kontantvloeiprobleme ondervind en het deurgaans denotering probeer vertraag deur aandele-uitgifte te maak. 19 Maatskappye het kontantvloeiprobleme ondervind maar het die aandele-uitgifte gebruik om denotering te vertraag. 11 maatskappye is gedenoteer weens redes anders as kontantvloeiprobleme. Die uiteindelike gevolgtrekking is dat die Kontantvloeistaat wel kan dien as bulpmiddel in die voorspelling van finansiele mislukking, maar voldoening aan die hipotese beteken nie noodwendig dat mislukking onvermydelik is nie.

Thesis (MBA)--Stellenbosch University, 1997. / ENGLISH ABSTRACT: In this study it is attempted to determine whether delisting of companies on the Johannesburg Stock Exchange is preceded by certain cash flow patterns. Information was collected by summarising the Source and Application of Funds statements and Cash Flow statements of companies into a spreadsheet model. The cash flows of companies were then presented graphically over time with the intent to derive possible patterns. It was also attempted to assess the impact of depreciation on the cash flow situation, as well as the possible reasons for share Issues. Although the sample may be too small for definite conclusions, it seems as if certain cash flow patterns preceded delisting and that share issues are related to investing activities. Depreciation does not seem to have a substantial effect on the cash flow situation. / AFRIKAANSE OPSOMMING: In hierdie studie word daar gepoog om vas te steI of denotering van maatskappye op die Johannesburgse Effektebeurs voorafgegaan word deur sekere kontantvloei patrone. Inligting is versarneI deur maatskappye se Bron en Aanwending van Fondse state en Kontantvloeistate in 'n sigbladmodeI saarn te vat. Die kontantvloeie van maatskappye is dan grafies voorgesteI oor tyd ten einde moontlike patrone af te lei. Daar is ook gepoog om die impak van waardevermindering op die kontantvloei situasie te bepaaI, asook die moontlike redes vir aandeeluitgifte. AlhoeweI die monster moontlik te klein is vir definitiewe afleidings wil dit tog voorkom of sekere kontantvloei patrone denotering voorafgaan en dat aandeeluitgifte verband hou met investeringsaktiwiteite. Dit blyk dat waardevermindering nie 'n wesenlike rol in die kontantvloei situasie speel nie.

Thesis (MBA)--Stellenbosch University, 1993. / ENGLISH ABSTRACT: Cash flow information is important in evaluating the financial results of companies. As cash flow statements were only prepared since October 1988 as part of Generally Accepted Accounting Practice various assumptions were made in calculating cash flow information for earlier years. In a study by Wessels (1991) a few approximate methods were used to calculate cash flow from operating activities. For this study an analysis was again made of the same companies. In this latest study it is concluded that the assumptions of the previous study could be wrong. It is therefore suggested that the assumptions and results of the previous study be re-evaluated. / AFRIKAANSE OPSOMMING: Kontantvloei-inligting is belangrik by die evaluering van maatskappyresultate en daarom word aannames dikwels gebruik om die inligting voor Oktober 1988 te bereken . Die rede hiervoor is dat kontantvloeistate as deel van Algemeen Aanvaarde Rekeningkundige Praktyk eers sedert Oktober 1988 gepubliseer is . In In studie van Wessels (1991) is gebruik gemaak van 'n aantal benaderde metodes om kontant uit bedryfsaktiwiteite te bereken. 'n Ondersoek na dieselfde maatskappye wat toe gebruik is, is weer in hierdie studie gedoen. Die gevolgtrekking wat in hierdie studie gemaak word, is dat die aannames van Wessels moontlik foutief kon wees. Daar word aanbeveel dat die studie van Wessels en die gevolgtrekkings waartoe gekom is, herevalueer moet word.

Thesis (MBA)--Stellenbosch University, 1993. / ENGLISH ABSTRACT: The success rate of an undertaking is normally measured against the industrial average of the specific undertaking. In theory it is very easy, but in practice many problems arise which must be overcome before any ratio analysis becomes meaningful. All companies listed on the Johannesburg Stock Exchange were measured against the definition of a conglomerate. After the selection there were efforts to divide all the South · African conglomerates into homogeneous groups according to an article by Amit & Livnat (1990: 65-100) of the United States of America "Grouping of Conglomerates by their segments' economic attributes: Towards a meaningful ratio analysis." Thereby a more meaningful ratio analysis can be devised. A method of selection was devised to select the conglomerates from the universe which consisted of all listed companies on the Johannesburg Stock Exchange on 1 February 1993. Out of 685 companies 44 were selected as conglomerates. When the USA article was applied to South Africa it appeared that, due tot various problems, it was impossible to apply the USA article directly to the South African situation. Therefore the South African situation was approached differently. Due to the fact that guidelines only existed according to which conglomerates report their financial information segmentally, there were efforts to determine which methods were applied by the 44 conglomerates and whether any uniform measures existed in the segmental reporting. After the analysis of the separate companies it was found that 19 of the 44 companies which were selected as conglomerates report financial figures for their operational segments; 16 companies disclose no segmental reporting; 17 companies only mentioned certain segmental information in the directors' reports and 2 companies reported financial information for their subsidiaries instead of operational segments. From the research it becomes clear that segmental reporting was practiced in less than 50% of South African conglomerates. It appears that company management avoid segmental reporting to ensure that opposition companies cannot benefit from it. / AFRIKAANSE OPSOMMING: Die mate van sukses van 'n onderneming word normaalweg aan die gemiddelde van die industrie waarin die onderneming homself bevind, gemeet. Teoreties is dit baie maklik, maar in die praktyk ontstaan daar vele probleme wat oorkom moet word voordat enige verhoudingsanalise enigsins betekenisvol kan wees. Alle maatskappye wat op die Johannesburgse Effektebeurs genoteer is, is aan die definisie van 'n konglomeraat gameet. Na die seleksie is daar aan die hand van 'n aftikel deur Amit & Livnat (1990: 65·'00) van die Verenigde State van Amerika "Grouping of Conglomerates by their segments' economic attributes: Towards a more meaningful ratio analysis" . gepoog om die Suid·Afrikaanse konglomerate in homogene groepe te deel. Sodoende word 'n meer sinvolle verhoudingsanalise daargestel. 'n Seleksiemetode is gevind om die konglomerate uit die universum, wat bestaan uit alle maatskappye wat op 1 Februarie 1993 op die Johannesburgse Effektebeurs genoteer was, te selekteer. Met die toe passing van die VSA-artikel op Suid-Afrika het dit egter geblyk dat dit weens verskeie probleme onmoontlik sou wees om die VSA-artikel direk op die Suid-Afrikaanse situasie toe te pas. Daar is toe van die VSA-artikel afgewyk en die Suid-Afrikaanse situasie is op 'n ander manier benader. Aangesien daar slegs riglyne bestaan waarvolgens konglomerate segmentele rapportering in hul finansiële state doen, is daar toe gepoog om te bepaal watter metodes die 44 konglomeraatmaatskappye volg en of daar enigsins 'n mate van eenvormigheid in hul segmentele rapportering bestaan. Nadat die verskillende bedryfsegmente van elk van die 44 maatskappye geïdentifiseer is, is elkeen se finansiêle state sorgvuldig ontleed sodat daar vasgestel kon word of daar enigsins finansiële rapportering in die verskillende bedryfsegmente plaasvind. Uit die ontleding van die onderskeie maatskappye is daar gevind dat 10 van die 44 maatskappye wat as konglomerate geselekteer is, wel finansiële syfers in segmentele verband rapporteer; 16 maatskappye doen geen segmentele rapportering nie; 7 maatskappye maak slegs in hul direkteursverslag melding van sekere segmentele inligting en 2 maatskappye rapporteer finansiële inligting in filiaalverband in plaas van bedryfsegmente. Uit die ondersoek blyk dit dat segmentele rapportering in minder as 50% van SuidAfrikaanse konglomeraatmaatskappye voorkom . Dit wil egter voorkom of maatskappybestuur hul van segmentele finansiële rapportering in hul jaarverslae weerhou uit vrees dat hul opposisiemaatskappye bevoordeel mag word .

Thesis (MBA)--Stellenbosch University, 1980. / VOORWOORD: Die rekenaarisering van die kontantvloei-model van Strauss (1979) het die potensiaal van die model as 'n beplannigshulpmiddel uitgebeeld. In die werkstuk word die effek wat enkele faktore op die brutoinkomste-persentasie uitoefen ondersoek om uiteindelik 'n geïntegreerde model te vorm, wat vir die bepaling van 'n brutoinkomste-persentasie onder sekere doelstellings gebruik kan word.

published_or_final_version / Management Studies / Master / Master of Business Administration

This paper tests the notion that private firms are more tax aggressive than public firms. Tax avoidance measures, e.g. effective tax rates, cannot be used to compare private and public firms when private and public firms have different levels of importance on financial accounting earnings (Hanlon and Heitzman 2010). To disentangle financial reporting incentives from tax aggressiveness, I use the fact that European groups must prepare two sets of financial statements: first, group statements (consolidated), which provide information to investors, and, second, individual statements (unconsolidated), which are used for legal purposes, but not to inform investors. Since in individual statements financial reporting incentives do not vary between public and private firms, I use these effective tax rates to compare private and public firms. My findings show that public, not private, firms are more tax aggressive, as the effective tax rates of public firms are lower in individual and group statements. (author's abstract) / Series: WU International Taxation Research Paper Series

M.Com. (Computer Auditing) / This study investigates the effects of the implementation and upgrade of financial Enterprise Resource Planning (hereafter ERP) systems, particularly the Oracle system, on financial reporting and audit. It also determines whether the independent external auditors play a vital role in the process of implementing internal controls in the implementation and upgrade of the Oracle system at a higher education institution (hereafter HEI). With the ever-evolving information technology, it is of utmost importance that the necessary controls be implemented. A sample of 18 Oracle system users from the HEI finance expenditure department and HEI independent external auditors is surveyed and the results of the survey are used to provide advice to organisational management on measures that should be implemented to ensure smooth systems implementation and post-implementation results. The empirical study indicates that the HEI had adequate measures and controls in place to ensure that the ERP implementation runs smoothly and threats are avoided, resulting in a successful implementation for competitive advantage in HEI.