PPRuNe Forums - View Single Post - SAA flies to R136m profit
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Old 13th Nov 2007, 06:47
  #18 (permalink)  
JetNut
 
Join Date: Mar 2007
Location: South Africa
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Avi8tor

It's good to know that you are at least aware of the existence of GAAP principles. This is an evolved accounting process developed on the grounds of corporate governance, but alas, when you say "revaluing assets" to make a profit,I start to place doubt on your grasp of the concept.

Major companies in South Africa are compelled to reveal their accounting processes and figures in the public domain. That's why you have the privilege of actually viewing the "notes at the bottom of the financial reports".

The day that Middle Eastern airlines (which you profess to be doing such a sterling ethical job..) publish their financial reports in a public newspaper, is the day you may have the right to blow your highly opinionated horn w.r.t SAA.
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