Avoid the long-term implications of skipping a bond repayment
Are you feeling the financial pinch? You’re not alone. Many South Africans are finding it increasingly difficult to meet their credit obligations. The cost of living is on the rise, disposable incomes are shrinking, and servicing debt has become a significant challenge. Homeowners are feeling the strain too, with financial institutions noting a surge in […]
Belastingbeplanning: Minder ja, maar nie niks nie
Belastingbeplanning is noodsaaklik om te verseker dat jou welverdiende Rande, binne alle wette en regulasies van die Suid-Afrikaanse Inkomstediens en die Inkomstebelastingwet, te rek vir die nabye toekoms maar ook vir jou goue jare. Dit is ‘n gegewe dat almal iewers belasting sal betaal, ongeag hoe haarfyn jou beplanning is. Daar is ‘n diverse […]
Managerial accounting: The key to making better decisions
As a manager of an organisation, there is a great responsibility for decision making. The question lies in how a manager can utilise accounting information to make better decisions. Managerial accounting is a common practice within an organisation where accounting information is identified, measured, analysed, interpreted and communicated to relevant parties to pursue a goal. […]
Your payroll administration questions answered
As payroll administrators ourselves, we encounter a few frequently asked questions that employers, business owners or those responsible for payroll administration within organisations struggle with. Below we have a detailed answer for you on these burning questions you are facing. We hope that you find them insightful. Question: At what stage is an employer required […]
Revised standard on auditing accounting estimates and related disclosures – ISA 540 (Revised)
During March 2016, the International Auditing and Assurance Standards Board (IAASB) released a project proposal with the intention to revise ISA 540, Auditing Accounting Estimates, Including Fair value Accounting Estimates and Related Disclosures. During April 2017, the IAASB released the proposed Exposure Draft. During October 2018, the IAASB released the revised ISA 540 standard and […]
The accountant’s new dawn
By Jerry Schuitema. Seeing the numbers through a different lens. Few professions have been through as much scrutiny and criticism as the accountants have in recent times. This in the wake of a number of high-profile scandals that not only questioned their lack of oversight, but whether they were indeed part of the […]
“Booking” capital losses on shares is not that easy
There is a number of techniques that taxpayers use to reduce their capital gains tax (CGT) exposure on long-term share investments. A common practice is to utilise the annual exclusion of R40 000 provided for in paragraph 5 of the Eighth Schedule of the Income Tax Act[1] by selling shares that have been bought at a […]
From Xero to Hero
The internet and modern communications technology has changed everything, including the way that businesses keep their records up to date; one new approach we recommend has at its heart the cloud based accounting software, Xero. In a nutshell, Xero allows you to update and view the financial state of your business in real time, […]
The importance of having a good accounting system
If your business doesn’t have an effective accounting system in place, you run the risk of making serious errors in your finances. Furthermore, a good accounting system simply makes life easier and allows you to focus more on growing your business. • It helps you evaluate the performance of your business: A good accounting […]
5 tips for managing your small business payroll
Payroll is typically the number one concern for many small business owners worried about getting it right. But it needn’t be difficult – here are 5 top tips to make payroll easier. 1. Know your big deadlines Dealing with accounting deadlines and employee returns is much less stressful when you know what you need […]