Die openbaarmaking van finansiële instrumente in die finansiële state van mikro-gelduitleners

[摘要] English: Since 1992 the micro lending industry experienced significant growth.The industry is now in the position where it forms an integral part of thefinancial sector in South Africa.Very little formal research has been undertaken in die micro lendingindustry. It appears that no research what so ever has been done withrespect to the financial presentation by micro lenders.It is very important to understand the micro lending industry. A shortoverview of the industry, as well as an overview of the regulatory body:the MicIO Finance Regulatory Council, are presented in this thesis.The purpose of financial reporting is to provide information to thestakeholders of an entity. In the South African context the King report isthe most important document that defines and addresses the termstskeholder. In chapter 12 of the King report it defines stakeholders as/I any person, entity OI interest gIOUp that has some association with theen terprise,It was found necessary to identify the most important stakeholders ofmicro lending entities due to the wide span of the term stakeholders. Thefollowing stakeholders were identified as being the most important:o The ownerso The suppliers of long term fundso The loan debtorso The employees.Stakeholders need sufficient information to make informed decisions.The quality of this information is imperative. Financial statements arethe main source of information. It is important that the information inthese financial statements are of outstanding quality.A number of business types are found in the micro lending industry. Thisstudy has shown that the most important and often used types are theclose corporation and the company.Both the Company's Act and the Close Corporation's Act refer toGenerally Accepted Accounting Practice (GAAP) as the basis for financialpresentation. However, the interpretation of the term does notnecessarily mean that statements on GAAP need to be applied.Fortunately this position is changing. This thesis was thus based on theassumption that reference to GAAP in die Company's Act and CloseCorporation's Act means that statements on GAAPhave to be applied.The core of the study involves a discussion of the presentationrequirements regarding the financial instruments that have beenidentified during the empirical study.Special reference was given to AC12S - Financial instruments: disclosureand presentation. The definitions in this document were detailed as itwas used as a measure to identify the financial instruments included inthe financial statements of micro lenders.The following financial instruments were identified:o Bank and cash balanceso Debtors (other than loan debtors)o Loan debtorso Long term loans,0 Creditors.In view of all relevant statements, legislation and corporate requirementsa wide-ranging summary including all relevant presentation requirementsregarding financial instruments have been incorporated.In the second section of the thesis the scope and results of the empiricalstudy are discussed. The empirical study was performed on a sample ofclose corporations and companies that have been registered orprovisionally registered with the Micro Finance Regulatory Council.The selected micro lenders' financial statements were analysed toestablish the degree of compliance with the proposed financial reportingrequirements.The writer thoroughly believes that the micro lenders' financialstatements do not comply to the prescribed financial reportingrequirements and leave much to be desired. Substantial enhancement isof crucial importance before these entities will effectively address theneeds of all their stakeholders.

[发布机构] University of the Free State