- Title
- Assessing the readiness for the implementation of municipal standard chart of accounts (mSCOA)
- Creator
- Kwetana, Bulumko
- Subject
- Municipal finance -- South Africa
- Subject
- Municipal finance -- Accounting -- South Africa Accounting
- Date Issued
- 2019
- Date
- 2019
- Type
- Thesis
- Type
- Masters
- Type
- MBA
- Identifier
- http://hdl.handle.net/10948/40489
- Identifier
- vital:36170
- Description
- The research project was undertaken to explore the readiness for the implementation of the municipal standard chart of accounts (mSCOA) in Eastern Cape municipalities. The Municipal Finance Management Act (MFMA) and other reporting guidelines emphasise on enhancing the quality of information to improve the relevance of financial reporting. They also make emphasis on the importance of preparing regular, accurate and complete financial and performance reports that are supported and evidenced by reliable information. In South Africa, the reporting system of the municipalities has been decentralised, and various municipalities use different financial reporting systems. The recently introduced mSCOA provides a uniform and standardised financial transaction classification framework. Essentially this means that mSCOA prescribes the method (the how) and format (the look) that municipalities and their entities should use to record and classify all expenditure (capital and operating), revenue, assets, liabilities, equity, policy outcomes and legislative reporting. The literature review explores the existing information for correlation with the implementation of mSCOA and recommendations are made to the National Treasury to ensure an approach and conversion plan that would be relevant and practical in the current municipal environment and address all challenges and concerns identified within a reasonable time frame. Overall, the municipalities were not ready for the overall mSCOA implementation as depicted by the challenges municipalities are facing. However, the results of the study showed that stakeholders play a huge role in facilitating the transition to mSCOA and can also create an enabling environment for change. Management should ensure more training mechanisms are in place to ensure all employees are well- versed with the management information systems that they use daily. Management should encourage enterprise risk management principles to be part of the culture of the municipalities on every project. The importance of the research for the public sector resides in recognition of the need for a better understanding of mSCOA as a wide public-sector reform so that significant risks and challenges related to mSCOA implementation are well anticipated.
- Format
- xiii, 109 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | BULUMKO KWETANA.pdf | 3 MB | Adobe Acrobat PDF | View Details Download |