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The developing South African economy provides good business opportunities for global companies. Despite the popularity of mergers and acquisitions as a way to expand into a developing economy, many such business transaction fail to create sustainable organisations due to issues pertaining to national and corporate cross-cultural issues. This study investigated the potential impact of national cultural differences pertinent to the acquisition of a South African-based resource company by a French-based international group. It was evident that there were cultural differences in themanner which certain attitudes and actions were expressed within the workplace, which have led to some conflict that hampered the optimumfunctioning of the accounting-related functions within the company. By usingHofstede’s cultural dimensions andGray’s accounting value classification frameworks within this case study, the organization’s management was provided with insights into how national cultural orientation affects their functioning. http://www.fm-kp.si/zalozba/ISSN/1581-6311/11_3.htm http://www.fm-kp.si/zalozba/ISSN/1581-6311.htm

The oil and gas sector is one of the key players in the South African economy; however, South Africa is also regarded as the foremost polluter in Africa. The main objective of the study was to develop a sustainable balanced scorecard (SBSC) that addresses the needs of the South African oil and gas sector. The research approach followed was supported by the application of content analysis of the integrated reports of JSE-listed oil and gas companies. The theoretical concepts of sustainability, integrated reporting and the balanced scorecard (BSC) are used to establish the overall theoretical framework of this study. It was found that selected oil and gas companies include sustainability issues in their integrated reports, but with a specific focus on social aspects. It is recommended that these indicators, together with the GRI sector supplement, should be incorporated with the conventional balanced scorecard measurements to ensure that sustainability is linked to the financial and overall objectives of the company. http://businessperspectives.org/component/option,com_journals/task,issue/id,283/jid,9/Itemid,74/

Since the implementation of carbon tax on motor vehicles in South Africa during 2010, the pricing of the tax has never been challenged or assessed. The purpose of this study is to gauge the reasonability of the carbon tax price in South Africa as applicable to the motor vehicle manufacturing industry. A detailed review is performed to determine the adequacy of the carbon tax price by comparing the social cost of carbon from motor vehicle emissions against the revenue raised from carbon tax levied on motor vehicles in the same period. Empirical research includes an exploratory questionnaire into the adequacy of the carbon tax price in South Africa with input data from multinational motor vehicle manufacturers operating in South Africa. The findings from the literature review confirm that although the respondents do not consider the level of carbon tax price as adequate to be relevant for the social cost of carbon, the revenue raised from this tax exceeds the social cost of carbon leading to the conclusion that the tax is adequately priced. http://www.cluteinstitute.com/journals/journal-of-applied-business-research-jabr/ http://www.cluteinstitute.com/ojs/index.php/JABR/article/view/8212/8250

Sustainability reporting, renowned as an instrument for businesses to communicate how they function more efficiently and responsibly within the social and physical environment, while simultaneously remaining profitable, has evolved in an up-and-coming trend by businesses. In addition, this leads to integrated reporting, which implies that a business’ strategy, performance, risk and sustainability are inseparable from one another. The International Year of Co-operatives (2012), with the theme “Co-operative Enterprises Build a Better World”, recognises that cooperatives, in their range of forms, support the fullest participation in the social and economic development of people. Co-operatives also have the remarkable opportunity to grow everywhere for the reason that modern society needs their role and initiatives. This article considers to what extent the GRI guidelines, as a reporting framework, are feasible or applicable to co-operatives as a business model. The selected agricultural co-operative (Agri- Com) is used in the form of a case study, where the GRI’s Sustainability Reporting Guidelines are applied to its activities. This study found that the co-operative business model performed admirably well under these guidelines and suggests that the co-operative business model is very relevant in the modern business environment. http://www.cluteinstitute.com/journals/international-business-economics-research-journal-iber/ http://www.cluteinstitute.com/ojs/index.php/IBER/article/view/8536

This article aims to consider the relevancy of (i) cap-and-trade schemes and (ii) carbon tax schemes in a developing economy context. Even though both schemes have a common goal of reducing greenhouse gas emissions, they operate very differently, each with their own set of advantages and disadvantages. Sustainable developments comprise various elements categorised in three primary dimensions – environmental, economic and social. The objective of reducing greenhouse gases via the implementation of carbon tax or cap-and-trade schemes primarily addresses the environmental dimension of sustainable development. Notwithstanding the aforementioned, the impact of both schemes on the economically sustainable development, including industry competitiveness and growth, still has to be determined. In South Africa, the National Treasury made a decision to implement carbon tax as opposed to cap-and-trade schemes. In this article, the reasoning behind their decision in favour of carbon tax in the South African context is critically considered, firstly by evaluating the key characteristics between capand- trade and carbon tax schemes and secondly by considering the effectiveness hereof in the global context. It was found primary reason behind the favourable consideration of carbon tax was the fact the implementation thereof would be ‘simpler’ using the existing taxation systems, whereas cap-and-trade would require the implementation of sophisticated mechanisms that may not provide the optimum benefit in a developing economy context. http://www.cluteinstitute.com/journals/international-business-economics-research-journal-iber/ http://www.cluteinstitute.com/ojs/index.php/IBER/article/view/7744

Recent corporate history illustrates that, although accounting is acknowledged as the language of the contemporary business environment, it is not merely a detached technical activity, but rather a battlefield of diverse ideologies. The contemporary accounting objectives as promulgated by key accounting standard setting institutions (i.e. the IASB and FASB) is characterized by large volumes of (subjectively interpreted) principles. Together with these standards, professional accounting institutes have detailed codes of conduct aiming to ensure ethical behaviour in the profession.In his accounting treatise, Particularis de Computis et Scripturis Luca Pacioli became known as the father of accounting, and contributed both philosophical and theological perspectives to the accounting discipline. This paper aims to critically reflect on the relevance of the Bible in addressing ethically founded accounting and stewardship practices. In doing so, the profitability motive of business entities, together with the objectives of stewardship in the context of contemporary and historical accounting objectives are reflected upon. The paper concludes that ethically-based accounting and stewardship practices are instituted in the Biblical directives to manage God’s creation http://studia.ubbcluj.ro/serii/philosophia/index_en.html http://studia.ubbcluj.ro/arhiva/abstract_en.php?editie=PHILOSOPHIA&nr=3&an=2013&id_art=12003

Carbon excise tax was implemented on all passenger motor vehicles in South Africa as of 1 September 2010. Since its implementation, the impact of carbon tax on the corporate social investment (CSI) initiatives and expenditure of South African motor vehicle manufacturers has not been assessed. Given that the carbon tax price should ideally compensate for the damage caused by carbon emissions on the environment and people, the key knowledge gap this article aims to consider is whether the implementation of such a carbon tax is likely to affect the CSI decision-making process in respect of motor vehicle manufacturers in South Africa. The research methodology applied in this study is in the form of both a literature review and empirical research. A literature review was performed on the history, emergence and significance of CSI expenditure within the South African context. The empirical research includes an exploratory case study into the impact of the tax in the decision-making processes with regard to CSI expenditure, as well as the impact of carbon tax on CSI spending by motor vehicle manufacturers in South Africa. It was found that although the advent of carbon tax in the industry would place added pressure on the financial performance of the companies, it is unlikely that it would adversely affect the industry’s commitment to the CSI initiatives. http://www.cluteinstitute.com/ojs/index.php/IBER/article/view/8254 http://www.cluteinstitute.com/journals/international-business-economics-research-journal-iber/

Financial statements are used by investors and financiers in their investment or financing decisions. The accounting treatment of individual transactions is reflected in the annual financial statements; therefore, similar transactions should be accounted for similarly by organisations in the same industry, otherwise these financial statements become incomparable. Commodity derivatives are utilised extensively by agricultural companies and processors in their risk management strategies. The accounting standard, IAS 39, on financial instruments such as commodity derivatives should be interpreted and applied consistently in order to ensure comparability of financial statements. Within the South African agricultural companies and processors context, this paper identified and considered eight basic transactions commonly used when buying and selling grain. It was found that there is not always a consistent accounting treatment of these transactions among industry players and therefore a best practice methodology for interpreting and applying the accounting standard was formulated for each of the eight transaction types. http://cluteinstitute.com/ojs/index.php/JABR/article/view/6960/7035

When considering some of the key reasons for the desperate state of the current global economic environment, it is difficult to deny accounting's role therein. Although accounting institutes require adherence to codes of conduct, the question remains as to what happened to the stewardship function of the accounting profession. This article has critically reflected on the question, 'What constitutes an ethical accounting profession'? The key principles within many institutes' codes of conduct, such as competency, integrity, objectivity and confidentiality, have been considered against the background of utilitarianism, formalism and virtue ethics as foundational ethical theories. This article has concluded that although these principles aim to provide a framework for ethical accounting conduct, individual subjectivity on the part of the accountant will play a role in how these ethical principles become ethical practices. Wanneer sommige van die vernaamste redes vir die desperate toestand van die huidige globale ekonomiese omgewing oorweeg word, is dit moeilik om rekeningkunde se rol daarin te ontken. Hoewel rekeningkundige instellings die nakoming van gedragskodes vereis, ontstaan die vraag na wat van die rekeningkundige professie se rentmeesterskapfunksie geword het? In hierdie artikel is krities gereflekteer op die vraag, 'Wat behels 'n etiese rekeningkundige professie?'. Die belangrikste beginsels in vele instellings se gedragskodes, soos bevoegdheid, integriteit, objektiwiteit en vertroulikheid, is beoordeel teen die agtergrond van utilitarisme, formalisme en deugde-etiek as fundamentele etiese teorieë. Hierdie artikel het tot die gevolgtrekking gekom dat, alhoewl sodanige beginsels daarna streef om 'n raamwerk te voorsien vir etiese rekeningkundige gedrag, individuele subjektiwiteit aan die kant van die rekenmeester 'n deurslaggewende rol sal speel in hoe hierdie etiese beginsels omgeskakel word in etiese 'praktyke'.

Research revealed that inconsistent accounting practices are often attributable to environmental factors of which cultural differences appear to be the most significant. Prior research considered cultural dimensions in classifying and evaluating cultural differences, which has also been extended into accounting values. This enabled researchers to consider and identify relevant accounting values pertaining to specific accounting scenarios and environments. Recent research considered accounting values pertaining to the adoption of International Financial Reporting Standards. The purpose of the study is to identify the relevant accounting values when a global set of accounting standards is implemented by the SME sector. Based on a sample consisting of final-year accounting students from two different universities in South Africa and one in the UK, our results suggest that contrasting accounting values are considered necessary when adopting a global set of accounting standards by the SME sector.