Thesis (MBA)--Stellenbosch University, 1992. / ENGLISH ABSTRACT: According to AC201 of the Institute of Chartered Accountants
additional depreciation should be calculated. To date only a
few listed industrial RSA companies have published such
amounts. Such additional depreciation amounts therefore had
to be estimated. Since 1980 the Graduate School of Business
of the University of Stellenbosch has estimated the average
age of fixed assets by using the following formula:
Accumulated depreciation: Depreciation as per most recent income statement. The above formula resulted in incorrect estimates of the
average ages of fixed assets. It was thus decided to follow
another method. In this study project (one of three),
additional depreciation of fixed assets will no longer be
estimated by means of an average age (or average acquisition
date). It was decided to calculate an investment profile for
fixed assets. Annually the cost price of fixed assets was
divided into different year-layers which were obtained from
the cash flow statements. The replacement cost for each
year-layer was annually determined by means of the Production
Price Index. The sum of the different year- layers resulted
in the total replacement cost. Additional depreciation now
becomes the difference between replacement cost and original
cost, divided by the life of the fixed asset. Only a handful of listed South African industrial companies calculate depreciation on land and buildings. To enable comparison with other companies, this study project
concentrated on fixed assets other than land and buildings.
Depreciation of fixed assets and new fixed assets acquired,
are seldomly split between land and buildings on the one
hand, and other fixed assets on the other hand. As a result
various amounts had to be split between the above two
components.
A number of practical problems emerged. Especially revaluation
of fixed assets and subsidiaries bought and
subsidiaries sold, created many problems. The amount of revaluation of fixed assets is normally given as a net amount,
whereas the revaluation of the debit was required. Not
enough information on specific assets when a subsidiary is
bought or sold was supplied in the cash flow statement (and
its forerunner the Statement of Source and Application of
Funds). If information on fixed assets acquired was given,
such information normally indicated book values, whereas cost
prices were required.
These three study projects resulted in an expansion of the
original project. A much more detailed study had to be
undertaken on revaluation. Furthermore, a complete reconciliation of both the accumulated depreciation and cost
prices of other fixed assets must be done. / AFRIKAANSE OPSOMMING: Addisionele waardevermindering behoort volgens RE201 van die
Instituut van Geoktrooieerde Rekenmeesters bereken te word.
Slegs 'n aantal industriële maatskappye in die RSA het hieraan
gehoor gegee. Gevolglik moes die syfer vir die res van
die industriële maatskappye beraam word. Sedert 1980 is die
gemiddelde ouderdom van vaste bates deur die Nagraadse
Bestuurskool van die Universiteit van Stellenbosch beraam aan
die hand van die formule:
Geakkumuleerde waardevermindering: Waardevermindering van die mees onlangse inkomstestaat. Die gebruik van hierdie formule het gelei tot foutiewe skattings
van die gemiddelde ouderdom van vaste bates. Gevolglik
is besluit om 'n ander metode te gebruik. In hierdie werkstuk
(wat een van drie uitmaak) word addisionele waardevermindering
van vaste bates nie meer bereken aan die hand van
'n gemiddelde ouderdom (of gemiddelde aanskafdatum) nie en
'n investeringsprofiel van vaste bates word daargestel. Die
kosprys van vaste bates word dan jaarliks in verskillende
jaarlae verdeel wat elk uit die kontantvloeistaat verkry is.
Vir elke jaar word die jaarlaag se vervangingswaarde aan die
hand van die Produksieprysindeks bereken . Die totaal van al
die verskillende jaarlae word gesommeer om by die totale
vervangingswaarde uit te kom. Addisionele waardevermindering raak dan die verskil tussen vervangingswaarde en oorspronklike
kosprys, gedeel deur die leeftyd van die vaste bates.
Aangesien slegs 'n klein persentasie van Suid-Afrikaanse genoteerde industriële maatskappye waardevermindering op grand
en geboue afskryf, is slegs aandag geskenk aan ander vaste
bates as grond en geboue ten einde onderlinge vergelykings
tussen maatskappye te vergemaklik.
Aangesien syfers vir waardevermindering van vaste bates en
nuwe vaste bates gekoop heel dikwels nie onderskeid tref
tussen grond en geboue aan die een kant, en ander vaste bates
aan die ander kant nie, moes heelwat bedrae tussen die twee
genoemde komponente geallokeer word.
Heelwat praktiese probleme is ervaar. Veral herwaardasies
van vaste bates en filiale gekoop en filiale verkoop het baie
probleme veroorsaak. Die omvang van herwaardasies is gewoonlik 'n netto syfer terwyI die herwaardasie van die
debiet benodig was. Verder was die inligting soos verskaf in
die kontantvloeistaat (en voor dit die Staat van Bron en
Aanwending van Fondse) dikwels onvolledig as dit kom by die
verskaffing van besonderhede van watter items by die kosprys
of verkoopprys van die filiaal ingesluit is. Waar inligting
weI verskaf is ten opsigte van vaste bates, was dit gewoonlik
slegs ten opsigte van boekwaardes, terwyl die kosprys van
vaste bates verkry, inderdaad nodig was. Hierdie drie werkstukke het daartoe gelei dat die aanvanklike
projek aansienlik uitgebrei moes word . Nie aIleen moet daar
'n baie meer omvattende ondersoek na herwaardasies gedoen word nie, maar ook 'n volledige rekonsiliasie van die
jaarlikse geakkumuleerde waardevermindering. Hierbenewens
moet die rekonsiliasie van die kosprys van vaste bates oak
onderneem word.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/57806 |
| Date | 12 1900 |
| Creators | Ozrovech, Solomon |
| Contributors | Hamman, W. D., Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | af_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 64 p. |
| Rights | Stellenbosch University |
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