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- Volume 17, Issue 1, 2009
Meditari : Research Journal of the School of Accounting Sciences - Volume 17, Issue 1, 2009
Volume 17, Issue 1, 2009
Author B. De ClercqSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 1 –13 (2009)More Less
South Africans, like many people worldwide, need to save more and spend less. The question arises why people do not save enough for their retirement and other financial needs. In this exploratory study, age, gender and the amount of pocket money that learners receive were evaluated to determine their impact on the level of learners' financial literacy. The author concluded that of the three variables evaluated, only age has a significant effect on the level of learners' financial literacy.
Tax topics a trainee chartered accountant should be taught : a survey of perceptions in and outside public practiceSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 15 –31 (2009)More Less
This paper presents the results of a survey designed to determine what tax topics are important in the educational background of a trainee accountant entering the training environment in South Africa. These topics were then compared to the 2008 tax syllabus prescribed by SAICA and taught at accredited universities in respect of the 2009 Qualifying Examination. The results indicated that the 2008 syllabus is largely meeting the expectations of respondents both in and outside public practice, although there are a number of topics that the syllabus setters and educators should reconsider when next reviewing and updating the 2008 syllabus and as part of the considerations for the new competency framework.
The application of management accounting techniques to determine the financial viability of delivery routes in the bread industry : a case studySource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 33 –47 (2009)More Less
Cost management is essential in every organisation, especially in an increasingly competitive environment (Jain & Yadav 2006:352). The management of distribution costs has become increasingly important because of the rising fuel costs in recent years (Gaffney 2008:40). Delivery routes should be optimised in order to reduce distribution costs.
This article presents a comprehensive segment margin approach model for determining the financial viability of delivery routes. A specific bakery (henceforth referred to as Bakery A) was selected as a case study, and the use of general management accounting principles in determining the financial viability of delivery routes was specifically investigated.
Author S. RoosSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 49 –67 (2009)More Less
This study explores the factors affecting the results obtained by Southern African students in the professional qualification examinations of the Chartered Institute of Management Accountants (CIMA). Thirteen variables were identified and included in a questionnaire sent to CIMA students. It was found that three variables were significantly associated with examination success: age, tuition and study material. Younger candidates, candidates who attended part-time tuition classes and candidates who used the textbooks published by BPP were more successful. Trends were also detected regarding gender, the number of papers written, and examination attempts: females tended to outperform males, candidates had a smaller chance of passing all the papers they sat if they took on more papers at a time, and first-time candidates had a higher tendency to pass than repeat candidates. Opportunities for further research are discussed.
Author L.J. StainbankSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 69 –80 (2009)More Less
IES 3 Professional Skills, issued by the International Federation of Accountants in 2003, lists five essential skills that professional accountants need to acquire: intellectual, technical and functional, personal, interpersonal and communication, and organisational and business management skills. In education programmes, accounting students may be required to work in teams and may therefore acquire some of these skills through the team experience. IES 8, Competence requirements for audit professionals, includes
''working in teams effectively'' and ''presenting, discussing, and defending views effectively through formal, informal, written, and spoken communication'' as part of the skills requirement which should be included in the education and development programme for audit professionals. Working in teams, or cooperative learning, is a teaching technique used in the formal education phase, which enables students to acquire some of these skills. The paper uses the results of a questionnaire survey to investigate how teams function in an accounting project. Although the results indicate that skills such as meeting management and interpersonal skills have a positive effect on the students' satisfaction with the team, no link could be found to the students' project mark. These results suggest that skills such as meeting management and interpersonal skills, if included in the formal education phase, may contribute positively to students' career preparedness. The study also found that students did not consider peer assessment appropriate.
Author L.P. SteenkampSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 81 –98 (2009)More Less
Black and Coloured chartered accountants (CAs) are under-represented in Accounting departments at academic institutions in South Africa. It is generally accepted that this is because of the poor remuneration offered in academia and a general shortage of Black and Coloured CAs. This study, which is based on a questionnaire to CAs, assesses their perceptions of a career in academia. It contrasts these perceptions of and requirements for a career in academia with current employment conditions and makes recommendations about increasing the number of Black and Coloured CAs in academia. These recommendations include increased remuneration and better promotion of the benefits of an academic career.
IFRS for SMEs in South Africa : a giant leap for accounting, but too big for smaller entities in generalSource: Meditari : Research Journal of the School of Accounting Sciences 17, pp 99 –116 (2009)More Less
According to generally accepted accounting practice, the objective of financial statements is to provide useful information to the primary user groups of such statements, regardless of the size of the entity. The primary users of the financial statements of SMEs are the owners, South African Revenue Services (SARS) and bankers.
The recognition, measurement and disclosure requirements of full IFRSs do not result in cost-effective and useful information being provided to the users of the financial statements of SMEs (non-listed companies, close corporations and other small entities, irrespective of their legal form), because these users do not need the extensive and complex information provided in general purpose financial statements. Consequently, an accounting standard is required to differentiate between general and limited purpose financial statements.
The International Accounting Standards Board (IASB) issued an exposure draft (ED 222) on IFRS for SMEs in February 2007. These stipulated modifications relating mainly to relaxed disclosure requirements and are more applicable to medium-sized entities. According to a survey among preparers of financial statements in June 2007, these developments may not be adequate for the purposes of smaller entities, irrespective of their legal form. Accordingly, the study recommends that a formal, separate set of simplified differential reporting standards be developed for smaller entities.
Source: Meditari : Research Journal of the School of Accounting Sciences 17, pp 117 –132 (2009)More Less
Prior accounting education literature documents that stereotypical images abound of the accountant as introverted, systematic, antisocial and boring. Although these stereotypes clash with the skills required of modern professional accountants to be problem solvers who regularly interact with people, the question is whether students wishing to become accountants still have these stereotyped perceptions. The purpose of this article is to investigate the preconceived notions of students in South Africa about accountants and whether these perceptions differ because of gender, home language or ethnical differences. A comparison is also made of the perceptions of school-leavers and final-year students to determine whether these perceptions change during students' formal period of study at universities. This research, which is currently highly relevant, given the shortage of students pursuing careers as accountants, could contribute to the debate surrounding the concerns of the future of the accounting profession and the implications for contemporary accounting education. It was found that students perceive accountants as structured, precise and solitary individuals. However, students considered it to be an interesting profession. Significant differences were found between the perceptions of different ethnic groups. No significant differences were found between the perceptions of male and female students, or between Afrikaans- and English-speaking students.