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International Financial Reporting Standard (IFRS) 15 required credit card rewards programmes (CCRPs) to reconsider their accounting practices. While Brink and Steenkamp (2023a, 2023b) developed a theoretical accounting model for CCRP transactions after the effective date of IFRS 15, this model should be validated and finalised as an accounting framework. Thus, the purpose of the present paper was to examine the validity of Brink and Steenkamp’s (2023b) model by interviewing CCRP managers and obtaining the opinions of experts in the field, and then develop a framework for accounting for CCRP transactions after the effective date of IFRS 15.

A qualitative exploratory approach within an interpretive paradigm was applied. Fifteen semi-structured interviews were conducted with South African CCRP managers, after which the Delphi technique (with 22 experts) was used. All data collected were analysed using thematic analysis, after which the CCRP accounting framework was finalised.

The study confirmed parts of the theoretical model, updated the model for what was evident in practice (e.g., not identifying interest as a relevant revenue stream, not differentiating between an open-loop and closed-loop structure and not including interest in the interchange fee) and improved the model by including alternative accounting treatments and additional guidance (e.g., to determine how the CCRP transaction should be viewed and to determine the value of award credits without an observable value).

The CCRP accounting framework provides practical guidelines for CCRP accounting and will assist managers of CCRPs in their decision-making processes and the application of judgement.

The study developed a CCRP accounting framework embedded in a decision tree and included all possible alternatives for accounting for CCRP transactions, which is a novel contribution to the field.

After the effective date of International Financial Reporting Standard (IFRS) 15, the accounting treatment of credit card rewards programmes (CCRPs) is no longer explicitly prescribed. Uncertainty regarding what constitutes faithful representation, and the inconsistent accounting practices observed, has created a need for guidance on the appropriate accounting treatment of CCRP transactions. Accounting theory has the potential to provide the foundation for this guidance. As a result, the objective of this study was to develop a theoretical model for the accounting treatment of CCRP transactions using accounting theory.

This non-empirical qualitative conceptual study utilised document analysis, focussing specifically on accounting theory, to construct an accounting treatment model.

Applying the relevant accounting theory (International Accounting Standards Board's (IASB's) Conceptual Framework), a theoretical model for the accounting treatment of CCRP transactions was developed, which emphasises the importance of understanding the economic phenomenon (the CCRP transaction) and determining how management views the transaction (in isolation as marketing or as an integral part of the credit card transaction).

Addressing the problem of accounting for CCRP transactions with reference to accounting theory (which is the main element of scholarly activity in accounting) distinguishes this study from previous research on the topic. The CCRP accounting treatment theoretical model could assist CCRP management in faithfully accounting for a CCRP transaction and reduce uncertainty and inconsistency in practice. Moreover, this study identified the procedures to be employed when using accounting theory to determine the appropriate accounting treatment of business transactions. These procedures could be employed by accountants when faced with other transactions not covered by specific accounting standards.

Share repurchases are increasingly employed in South Africa. Disclosure on share repurchases in annual reports is poor, and a high percentage of share repurchases are not announced in real time on the Johannesburg Stock Exchange (JSE). A comprehensive database of share repurchases by JSE-listed companies has been created up to 2009, but post-recession repurchase behaviour is not known. This study aims to examine South African share repurchase behaviour (activity, repurchase entity, repurchase type and transparency) in the post-recession period and compare this to the 2000–2009 period.

Comprehensive share repurchase data for all JSE-listed companies (excluding those in the basic materials and financial industries) were obtained by scrutinising annual reports and JSE announcements.

The repurchasing of shares reached a peak during the financial recession of 2008/2009, with share repurchases stabilising at a lower level post-recession. Repurchases executed by subsidiaries have decreased post-recession, probably owing to the introduction of dividends tax. However, 45% of the share repurchase value was not announced via the JSE (compared to 22% in 2000–2009).

Real-time JSE announcements of all share repurchases are required to improve transparency.

Owing to low announcement rates, a lack of transparency relating to share repurchases was observed in South Africa post-recession. Enhanced corporate governance requirements could improve transparency.