Overview
The realm of corporate reporting has shifted significantly since the 7th edition of this book was published. With the world becoming an ever smaller place, the need for a set of global reporting standards has become all the more pressing. To this end two major frameworks have emerged as the flag bearers of global financial reporting standards viz International Financial Reporting Standards (IFRS) and US GAAP. The former has been mandatory for all companies listed on the JSE Securities Exchange Limited (JSE) since 2005. The differential framework ties in well with the recent amendments to the Companies Act in the form of the Corporate Laws Amendment Act (CLAA). The CLAA marks the first phase of Corporate Law reform in South Africa and aims to introduce, amongst other reforms, differential reporting for limited interest companies as defined, to ease the burden of financial reporting on entities where external use of financial information is limited. It will be followed by the new Companies Act which is currently at the Bill stage. The CLAA has an effective date of 14 December 2007. The disclosure requirements set out in this book apply to South African enterprises. They can therefore be applied to companies, close corporations, trusts and partnerships, irrespective of differences in capital structure. Enterprises which are subsidiaries of foreign parent companies may also be required to prepare their financial statements in a format, and with disclosure, that complies with reporting standards abroad. This could lead to disclosure additional to that required in South Africa as set out in this book.
Full Product Details
Author: Geoff Everingham ,
Suresh Kana
Publisher: Juta & Company Ltd
Imprint: Juta Legal and Academic Publishers
Edition: 8th Revised edition
Weight: 1.216kg
ISBN: 9780702176777
ISBN 10: 070217677
Pages: 720
Publication Date: 30 June 2008
Audience:
College/higher education
,
Professional and scholarly
,
Undergraduate
,
Professional & Vocational
Format: Paperback
Publisher's Status: Active
Availability: In Print
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Author Information
Geoff Everingham BCom (Hons) MAS CA (SA), is Professor of Accounting at UCT. He is a well-known author of numerous books and articles on GAAP and has presented various seminars on financial accounting topics. He is a non-executive director of Transnet and chairs its audit committee. Geoff has served on the Public Accountants' and Auditors' Board, the Independent Regulatory Board for Auditors (IRBA), and is a past chair of the Accounting Practices Committee. He currently serves on the Accounting Practices Board.
