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The usefulness of summary financial statements of private shareholders in South Africa

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dc.contributor.advisor Rabin CE en
dc.contributor.author Peachey L en
dc.date.accessioned 2016-09-22T11:18:06Z
dc.date.available 2016-09-22T11:18:06Z
dc.date.created 1998 en
dc.date.submitted 2003 en
dc.identifier.uri http://hdl.handle.net/20.500.11892/109391
dc.description.abstract The summary financial statement is a recently developed financial report aimed at facilitating communication between management and shareholders by improving the readership and understanding of the financial information. The summary financial statement contains summarised quantitative and narrative information and although it is a supplementary document to the annual report, is generally distributed to shareholders in lieu of the annual report. Consequently, the usefulness and effectiveness of the summary financial statement as a communication medium to private shareholders in South Africa is becoming increasingly important. These characteristics were investigated in this research. <br><br> This research established that summary financial statements are useful to private shareholders in South Africa in their investment decision making. The most useful sections of the summary financial statement are the traditional qualitative sections, these are also the most widely and most thoroughly read sections. It was further established that private shareholders do, in general, read the summary financial statement, although not in depth. Although the summary financial statement is considered to be useful in decision making, private shareholders do not base their decision solely on the information contained therein. Additional, sources of information are used, the most popular being financial press reports and stockbrokers' reports. Understanding of the individual sections of the summary financial statement varies amongst the private shareholders. The level of accounting experience does impact on the private shareholders' understanding of the summary financial statement. Private shareholders with significant accounting .experience have a general understanding of the content of the summary financial statement, while those with no accounting experience do not have a general understanding of the content. <br><br> In summary, this research found summary financial statements to be useful to private shareholders in South Africa. These statements are however not permitted to be presented by local entities in terms of current legislation in South Africa, something this report hopes to assist in amending. en
dc.language English en
dc.title The usefulness of summary financial statements of private shareholders in South Africa en
dc.type Masters degree en
dc.description.degree MCom (Account) en


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