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In South Africa, the legislation within which organisations need to comply focuses to a large degree on the social and economic transformation of the organisation, the industry in which it operates and the country as a whole. Provide a comprehensive discussion on the Broad Based Black Economic Empowerment Act (No 53 of 2006) which could counter actions that McDonald is being accused of.

Answers

Answer 1

In relation to the accusations against McDonald's, the B-BBEE Act could counter these actions by requiring the company to actively promote the economic inclusion of black individuals in its operations. McDonald's would need to ensure that its employment practices promote diversity and inclusivity, with a focus on creating opportunities for previously disadvantaged individuals.

Furthermore, the Act would require McDonald's to engage in preferential procurement from black-owned businesses. This means that McDonald's would need to source goods and services from black-owned suppliers, thus contributing to the economic growth and sustainability of these businesses.

In terms of enterprise development, McDonald's could be required to invest in initiatives that support the growth and development of black-owned businesses. This could include providing financial support, mentorship programs, and skills development opportunities.

Overall, the B-BBEE Act is designed to promote a more inclusive and equitable society by addressing historical imbalances. If McDonald's is found to be in violation of the Act, it may face legal consequences and be required to take corrective actions to comply with the legislation.

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Related Questions

1. Discuss the emerging issues in cost and management accounting ( 15 marks)

2. ABC Ltd made the following purchases
Date of purchase Units purchased Price/unit
1st January 500 100
2nd January 600 200
3rd January 800 400
Units used on 4th January are 900.
Required:
Determine the cost of units used and the value of the closing stocks using FIFO, LIFO and
weighted average. (15 marks)

Answers

The emerging issues in cost and management accounting  are:

Sustainability as well as Environmental AccountingTechnology  as well as AutomationIntegrated Reporting and Non-Financial Performance Measures, etc.

What is the  emerging issues in cost and management accounting

New technology like robots and smart software is changing the way we do accounting work and save money. We use special computer programs to help us figure out how much things cost and keep track of the numbers.

Using only financial measures to judge business success is not enough anymore.  People now uses "Integrated Reporting" and includes non-financial measures as well.

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