This edition of Technically Speaking from Deloitte (South Africa) includes articles on the following topics:

• Companies Act – Financial Assistance - The Companies Act 71 of 2008 (the Act) became effective on 1 May 2011 and brought with it a significant change with regards to the provision of financial assistance. Section 45 of the Act has some potentially onerous provisions which must be complied with. This article provides guidance on some of the more complex provisions within Section 45.
• Accounting for Stripping Costs in the Production Phase of a Surface Mine - During October 2011, the International Accounting Standards Board (IASB) issued IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine which allows for certain costs incurred in the production phase of a surface mine to be recognised as a stripping cost asset.
• The Next Step in Finalising the Revenue Recognition Standard - The IASB has issued an exposure draft in which it has refined its proposals for the recognition of revenue. This article highlights what those proposals are, as well as what the changes are compared to the previous exposure draft.
• What Came First, the Chicken or the Egg? The requirements of financial reporting are becoming more significant in driving business decisions. Is this the way it should be or should financial reporting simply report the effect of business decisions which have been made?
• IAS Plus: International Financial Reporting Standards - This article explores what other resources are available on IASPlus.com with regard to International Financial Reporting Standards.