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Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings
Proefskrif (Ph. D.) -- Universiteit van Stellenbosch, 1997.
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| Format: | Thesis |
| Language: | Afrikaans |
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Stellenbosch : Stellenbosch University
2012
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| _version_ | 1867613826702114816 |
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| access_status_str | Open Access |
| author | Brown, William |
| author2 | Matthee, J. A. |
| author_browse | Brown, William Matthee, J. A. |
| author_facet | Matthee, J. A. Brown, William |
| author_sort | Brown, William |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Proefskrif (Ph. D.) -- Universiteit van Stellenbosch, 1997. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/54709 |
| institution | Stellenbosch University (South Africa) |
| language | Afrikaans |
| last_indexed | 2026-06-10T12:42:19.474Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2012 |
| publishDateRange | 2012 |
| publishDateSort | 2012 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/54709 Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings Brown, William Matthee, J. A. Stellenbosch University. Faculty of Economic and Management Sciences. School of Accountancy. Accounting -- Effect of inflation on Inflation (Finance) Financial statements Dissertations -- Accountancy Proefskrif (Ph. D.) -- Universiteit van Stellenbosch, 1997. Inflation gives rise to several redistributionary effects with regard to the capital applied in non-financial companies. It is important to calculate these redistributionary effects separately as they differ in their influence on different companies. This can be achieved by recognising both the entity and the equity approaches to financial reporting. The first potential redistributionary effect caused by the inability of historic cost accounting to ensure the maintenance of real financial capital attributed to shareholders. To the extent that reported profits are subject to dividend demands by shareholders an effective redistribution is created with cash flow implications which is to the detriment of the company as an entity. The second redistributionary effect is associated with the first and benefits the State at the expense of the entity. This redistributionary effect is the result of taxation being levied on historic cost income. By not allowing for the maintenance of the real financial capital in calculating taxable income the State in effect confiscates a portion of the shareholders' capital. This redistributionary effect has direct cash flow implications, the extent of which is determined by the relative importance of shareholders funds, the current inflation rate and the applicable taxation rate. The third redistributionary effect is the result of the tax deductibility of the full interest expense, including the inflation premium, in calculating taxable income. This redistribution benefits the equity at the expense of the State and can be seen as a form of interest subsidy. It has a cash flow implication, the extent of which is determined by the amount of interest-bearing loans, the inflation rate and the company taxation rate. The fourth distributionary effect has no bearing on the entity but it causes a redistribution form the suppliers of monetary funds to the shareholders. This is caused by the fact that, due to inflation, the eventual settlement of such liabilities is effected in monetary units of less purchasing power. No redistributionary effect occurs in instances where the suppliers of these funds manage to secure compensation for the loss of purchasing power of their original capital. It is possible to calcualte these redistributionary effects on the basis of historic cost information, which can be presented in a reconciliatory income statement showing the real return on shareholders funds as well as the real return on economic resources utilised in the company. To demonstrate its applicability a model is developed which is applied to a selected number of quoted companies. Doctoral 2012-08-27T11:36:41Z 2012-08-27T11:36:41Z 1995 Thesis http://hdl.handle.net/10019.1/54709 af Stellenbosch University 500 pages application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Accounting -- Effect of inflation on Inflation (Finance) Financial statements Dissertations -- Accountancy Brown, William Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title | Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title_full | Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title_fullStr | Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title_full_unstemmed | Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title_short | Die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| title_sort | die rekeningkundige verantwoording van die herverdelingseffekte van inflasie op kapitaal aangewend in ondernemings |
| topic | Accounting -- Effect of inflation on Inflation (Finance) Financial statements Dissertations -- Accountancy |
| url | http://hdl.handle.net/10019.1/54709 |
| work_keys_str_mv | AT brownwilliam dierekeningkundigeverantwoordingvandieherverdelingseffektevaninflasieopkapitaalaangewendinondernemings |