Non-Financial Disclosures in the South African Mining Industry

The purpose of this article is to analyse the nature and extent of non-financial disclosures in South African mining companies’ annual reports both pre- and post-King III to explore the impact that King III may have had on such disclosures. The research methodology adopted was a content analysis of annual reports prior to the issue of King III and then, in order to provide a second benchmarking period, more recent studies of mining companies’ annual reports after the issue of King III were accessed. These studies also used content analysis allowing for some degree of comparability. The study found that overall, the non-financial disclosures for all mining companies showed an increasing trend for the years leading up to the issue of King III. After the release of King III, the study found that although the extent of disclosures increased further, pointing to King III being the impetus for such an increase, there was still room for improvement in corporate governance disclosures especially with regards to forward looking disclosures and board of directors’ disclosures

Using Accounting Software for Teaching and Learning in a Second-Year Accounting Course

The aim of this paper is to report students’ perceptions on whether the use of accounting software enhances their understanding of the accounting cycle, and improves their information technology skills. Kolb’s experiential learning cycle is used to argue that offering a concrete learning experience increases effective learning. The study uses survey research to determine students’ perspectives of the usefulness of using accounting software in enhancing their understanding of the accounting cycle in a real business environment. The results show that students perceived the accounting example they used in the accounting software training to have some benefits in helping their understanding of the accounting cycle, and that it had improved their information technology skills. This paper adds to extant literature, where the accounting literature on information technology use in teaching accounting is relatively scarce. The findings are useful to teaching faculty, who may be considering adding a more practical element to their teaching

An Analysis of the Characteristics and Quality of Corporate Boards of Listed Deposit Collecting Banks in Nigeria

The purpose of this paper is to compare the characteristics of corporate boards of Nigerian banks with the ten largest banks globally in terms of five criteria (board size, number of female board members, number of meetings per annum, age of directors, and duality of Chairman and CEO positions). These criteria have been identified as being relevant for sound corporate governance. The paper also examined whether the Nigerian corporate boards complied with the relevant national Nigerian corporate governance codes. The research methodology consisted of a content analysis of the annual reports of the selected banks. The study found significant differences between the sample of international banks and the Nigerian banks with regards to female board membership, the number of board meetings and the average age of board members. Furthermore, not all banks observed the minimum board governance codes. The regulator should require all banks to follow the Central Bank of Nigeria’s code of corporate governance for banks. DOI: 10.5901/mjss.2014.v5n8p19

Employers' and public accountants' attitudes towards employee reporting in South Africa

The traditional focus of financial reporting has been on meeting the needs of investors and creditors. However, meeting the needs of other users of financial reports, particularly the employees, cannot be ignored. Employee reporting has therefore evolved as a form of reporting which meets the needs of employees for information about the enterprise for which they work. In South Africa, this is a particularly pertinent topic as a result of recent developments which highlight the need to provide other users with information and emphasize the rights of employees. Furthermore, companies in South Africa are producing employee reports although there is no guidance by any regulatory bodies as to the form and contents of such reports. This study examines the desirability of employee reporting in South Africa with emphasis on the theoretical background to the subject, and the attitudes of employers and public accountants towards the desirability of employee reporting, its form and contents, and public accountant involvement with published employee reports. After analysis, it was concluded: (1) There is a need for employee reporting. (2) Although the average response provided support for a separate employee report issued annually as the most desirable form of employee reporting, employers preferred regular meetings as the form of employee reporting. (3) Public accountant involvement with published employee reports is undesirable. (4) More research is needed. These conclusions support the following recommendations. (1) SAICA should show support for the disclosures required by The King report on corporate governance. (2) SAICA should re-instate the Employee Report Award. (3) The communication role of employee reporting should be emphasized. (4) There should be no regulatory interference with the form of employee reporting at the moment.Financial AccountingD. Comm. (Accounting

The genus Amphistegina (benthic foraminifera): distribution along the southern Tunisian coast

The benthic foraminiferal genus Amphistegina is currently expanding its range in the Mediterranean Sea after being introduced through the Suez Canal from the Red Sea. Over the previous decade, Amphistegina spp. has colonized the eastern part of the Mediterranean Sea including the Egyptian and Libyan coasts, but the present southern limit in the Mediterranean Sea is along the southern Tunisian coast. However, this limit has never clearly been defined, and existing models predict an expansion along the entire Tunisian coastline. The Gulf of Gabes, in the southern part of Tunisia, is heavily polluted by local phosphate industries that discharge untreated waste directly into the sea. Amphistegina spp. is sensitive to water quality and marine pollution. Based on our surveys and recent investigations, the present distribution area of Amphistegina spp. along the south Tunisian coast includes the coastline east of Djerba Island, located in the Gulf of Gabes. Possible limiting factors for Amphistegina spp. expansion in the Gulf of Gabes may be the unfavourable environmental conditions generated by the phosphate industry

Assessing the impact of diagenesis on foraminiferal geochemistry from a low latitude, shallow-water drift deposit

Due to their large heat and moisture storage capabilities, the tropics are fundamental in modulating both regional and global climate. Furthermore, their thermal response during past extreme warming periods, such as super interglacials, is not fully resolved. In this regard, we present high-resolution (analytical) foraminiferal geochemical (δ18O and Mg/Ca) records for the last 1800 kyr from the shallow (487 m) Inner Sea drift deposits of the Maldives archipelago in the equatorial Indian Ocean. Considering the diagenetic susceptibility of these proxies, in carbonate-rich environments, we assess the integrity of a suite of commonly used planktonic and benthic foraminifera geochemical datasets (Globigerinoides ruber (white), Globigerinita glutinata (with bulla), Pulleniatina obliquiloculata (with cortex) and Cibicides mabahethi) and their use for future paleoceanographic reconstructions. Using a combination of spot Secondary Ion Mass Spectrometer, Electron Probe Micro-Analyzer and Scanning Electron Microscope image data, it is evident that authigenic overgrowths are present on both the external and internal test (shell) surfaces, yet the degree down-core as well as the associated bias is shown to be variable across the investigated species and proxies. Given the elevated authigenic overgrowth Mg/Ca (∼12–22 mmol/mol) and δ18O values (closer to the benthic isotopic compositions) the whole-test planktonic G. ruber (w) geochemical records are notably impacted beyond ∼627.4 ka (24.7 mcd). Yet, considering the setting (i.e. bottom water location) for overgrowth formation, the benthic foraminifera δ18O record is markedly less impacted with only minor diagenetic bias beyond ∼790.0 ka (28.7 mcd). Even though only the top of the G. ruber (w) and C. mabahethi records (whole-test data) would be suitable for paleo-reconstructions of absolute values (i.e. sea surface temperature, salinity, seawater δ18O), the long-term cycles, while dampened, appear to be preserved. Furthermore, planktonic species with thicker-tests (i.e. P. obliquiloculata (w/c)) might be better suited, in comparison to thinner-test counter-parts (i.e. G. glutinata (w/b), G. ruber (w)), for traditional whole- test geochemical studies in shallow, carbonate-rich environments. A thicker test equates to a smaller overall bias from the authigenic overgrowth. Overall, if the diagenetic impact is constrained, as done in this study, these types of diagenetically altered geochemical records can still significantly contribute to studies relating to past tropical seawater temperatures, latitudinal scale ocean current shifts and South Asian Monsoon dynamics

Controls on planktonic foraminifera apparent calcification depths for the northern equatorial Indian Ocean

Within the world’s oceans, regionally distinct ecological niches develop due to differences in water temperature, nutrients, food availability, predation and light intensity. This results in differences in the vertical dispersion of planktonic foraminifera on the global scale. Understanding the controls on these modern-day distributions is important when using these organisms for paleoceanographic reconstructions. As such, this study constrains modern depth habitats for the northern equatorial Indian Ocean, for 14 planktonic foraminiferal species (G. ruber, G. elongatus, G. pyramidalis, G. rubescens, T. sacculifer, G. siphonifera, G. glutinata, N. dutertrei, G. bulloides, G. ungulata, P. obliquiloculata, G. menardii, G. hexagonus, G. scitula) using stable isotopic signatures (δ18O and δ13C) and Mg/Ca ratios. We evaluate two aspects of inferred depth habitats: (1) the significance of the apparent calcification depth (ACD) calculation method/equations and (2) regional species-specific ACD controls. Through a comparison with five global, (sub)tropical studies we found the choice of applied equation and δ18Osw significant and an important consideration when comparing with the published literature. The ACDs of the surface mixed layer and thermocline species show a tight clustering between 73–109 m water depth coinciding with the deep chlorophyll maximum (DCM). Furthermore, the ACDs for the sub-thermocline species are positioned relative to secondary peaks in the local primary production. We surmise that food source plays a key role in the relative living depths for the majority of the investigated planktonic foraminifera within this oligotrophic environment of the Maldives and elsewhere in the tropical oceans

Coupled evolution of temperature and carbonate chemistry during the Paleocene–Eocene; new trace element records from the low latitude Indian Ocean

This is the final version. Available on open access from Elsevier via the DOI in this recordThe early Paleogene represents the most recent interval in Earth’s history characterized by global greenhouse warmth on multi-million year timescales, yet our understanding of long-term climate and carbon cycle evolution in the low latitudes, and in particular the Indian Ocean, remains very poorly constrained. Here we present the first long-term sub-eccentricity-resolution stable isotope (δ13 30 C and δ 18 O) and trace element (Mg/Ca and B/Ca) records spanning the late Paleocene–early Eocene (~58– 53 Ma) across a surface–deep hydrographic reconstruction of the northern Indian Ocean, resolving late Paleocene 405-kyr paced cyclicity and a portion of the PETM recovery. Our new records reveal a long-term warming of ~4–5°C at all depths in the water column, with absolute surface ocean temperatures and magnitudes of warming comparable to the low latitude Pacific. As a result of warming, we observe a long-term increase in δ 18 Osw of the mixed layer, implying an increase in net evaporation. We also observe a collapse in the temperature gradient between mixed layer- and thermocline-dwelling species from ~57–54 Ma, potentially due to either the development of a more homogeneous water column with a thicker mixed layer, or depth migration of the Morozovella in response to warming. Synchronous warming at both low and high latitudes, along with decreasing B/Ca ratios in planktic foraminifera indicating a decrease in ocean pH and/or increasing dissolved inorganic carbon, suggest that global climate was forced by rising atmospheric CO2 concentrations during this time.European Consortium for Ocean Research Drilling (ECORD)International Association of Sedimentologists (IAS)NSFNatural Environment Research Council (NERC