Paper lions

Article Abstract:

Apartheid involved laws that hampered black South Africans becoming involved in business, and the African National Congress has sought to change this by helping to develop a new class of black businessmen. The number of black stockholders has increased, as has the number of companies controlled by black stockholders, yet much of this is an illusion since banks have lent to black consortia to buy stocks and not all repayment deadlines can be met. Black empowerment has tended to involve existing companies rather than new companies, and this has not helped the mass of black South Africans.

South Africa, Black business enterprises

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Auditing cost overrun claims

Article Abstract:

The optimal auditing policy of cost overrun claims is characterized as a function of the initial contractual payment by taking the cost-reimbursement or a cost-sharing procurement contract between the administration and a firm. It was found that the optimal policy is simple and can be easily implemented through a bureaucratic procedure.

Analysis, Auditing, Accounting procedures

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Which Bill Clinton?

Article Abstract:

Pres Clinton's famous inconsistencies could work against him in his reelection campaign. He needs to say he has learned from mistakes, and approach economic and foreign-policy challenges from Bob Dole in a mature, experienced manner, with sensible plans and clear decisiveness.

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