The purpose of this article is to assess the state of financial reporting in provincial government departments in South Africa. One of the obstacles in transforming financial reporting in South Africa is changing from cash accounting to accrual accounting. The survey in this study revealed that,...

In recent times there have been major developments in the areas of digitising business information, which can impact the financial reporting supply chain. Such developments include the eXtensible Business Reporting Language (XBRL) technology. The South African regulator of financial services and...

Audit committees have increasingly been recognised as an integral part of modern control structures and governance practices in both the private sector and public service. The audit committee is an integral element of public accountability and governance processes. It plays a key role in...

Differential reporting was introduced in South Africa with the enactment of the Corporate Laws Amendment Act 24 2006. Since it was urgent that the standard‐setters provide limited interest companies with interim guidance as to the preparation and presentation of financial statements, South...

Intangible assets have become important factors of value creation in today’s knowledge economy. However, individually they are often commodities and only create value in combination with other production factors. Therefore, in order to manage for performance and value, companies and their...

The accountancy profession’s long association with measurement and reporting has ensured that it has made a substantial contribution to the evolving intellectual capital field. While many of the motivations shaping the accounting for intellectual capital project are of a practical nature, the...

The Institute of Chartered Accountants in England and Wales (ICAEW) has recently launched a major new project to address the growing international concern that existing business reporting models are inadequate, and that recent attempts to develop new solutions and reach a global consensus have...

We analyzed the earnings release of the Enron Corporation for the year ended December 31, 2000. By applying the methodology of ethnostatistics we were able to gain insight into the environment of earnings releases, the underlying meanings ascribed within the content and the resulting limitations...

The use of derivative instruments such as futures, options and swaps has become increasingly widespread in the last twenty years, particularly among large companies in economies with well‐developed financial markets. This paper examines the impact of Financial Reporting Standard 13:...

The objectives of financial reporting encompass a decision usefulness role for accounting information. Information is decision useful when it assists users to make decisions about investing in or doing business with an entity. Decision usefulness is therefore an essential part of the framework...