Results 1 to 3 of 3

Thread: The end of GAAP in SA

  1. #1
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,981
    Thanks
    3,056
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12

    The end of GAAP in SA

    The Accounting Practices Board and the Financial Reporting Standards Council, have withdrawn SA GAAP for financial periods beginning on or after 1 December 2012.

    Entities currently applying SA GAAP will need to move to either IFRS or IFRS for SMEs.
    The trouble with opportunity is it normally comes dressed up as work.

  2. Thanks given for this post:

    dellatjie (25-Jun-14)

  3. #2
    Diamond Member Vanash Naick's Avatar
    Join Date
    Sep 2011
    Location
    lenasia
    Posts
    3,281
    Thanks
    849
    Thanked 693 Times in 607 Posts
    Blog Entries
    2
    Quote Originally Posted by Dave A View Post
    The Accounting Practices Board and the Financial Reporting Standards Council, have withdrawn SA GAAP for financial periods beginning on or after 1 December 2012.

    Entities currently applying SA GAAP will need to move to either IFRS or IFRS for SMEs.
    A very good afternoon to you Dave
    So, GAAP is the acronym for 'generally accepted accounting practice,' which to my knowledge was a standardised approach to accountancy so that everyone could be on the same page, what is this IFRS?
    “The philosophers have only interpreted the world, in various ways. The point, however, is to change it.” Karl Marx
    vanash.naick@gmail.com
    TFSA Disclaimer
    Local Music with a grassroots touch


  4. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,981
    Thanks
    3,056
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12
    IFRS is the International Financial Reporting Standards. There is also a lighter version for SMME's called IFRS for SMEs.
    The trouble with opportunity is it normally comes dressed up as work.

  5. Thanks given for this post:

    Vanash Naick (05-Feb-13)

Similar Threads

  1. Integrate GAAP with Pastel
    By caylin in forum Accounting Forum
    Replies: 6
    Last Post: 26-Feb-13, 06:02 AM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •