Publisher's Synopsis
The decision of the SAICA to accept the issued international accounting standards for application in the financial reporting environment of South Africa has meant that various existing statements were revised in order to comply with the international requirements. For this reason, it was decided to issue a supplement to the fifth edition to take cognisance of these changes. The only new statement is AC 122 which deals with research and development costs. Statements issued to the end of October 1995 are taken into consideration. All references are in respect of the statements, guidelines, the fourth schedule of the Companies Act and the Income Tax Act.
