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Small business owners have to be able to do as much running of the business themselves as they can. One of the aspects of a business that is best left to a qualified professional is the role of accountant. Generally speaking most small business owners do not really need an accountant johannesburg in the initial stages of their business, there is a plethora of bookkeeping software available on the market that can help keep all of your bookkeeping needs organized. All that you need to do is enter all of the pertinent and relevant information and there is even easy to [...]

Accounting Wise If you want your business to succeed, you need to keep an eye on the money coming in and the money going out. However, doing this and trying to manage the day-to-day running of the company can be very time consuming. If you are worried about being a Jack of All Trades but a master of none, it may be time to hand over your financial accounting needs to Accounting Wise. The team at Accounting Wise specializes is made up of a group of experienced and skilled professionals who know their way around a ledger. They are the straight-laced [...]

Understanding Offshore Investments Investing money in offshore instruments is a controversial topic all over the world. Offshore investments are kept in a different country as the investor’s country of origin. There are many benefits to this investment strategy, the biggest of which is the reduction of tax obligations. People that are concerned by tax requirements in their own country seek out a country that is less demanding as far as tax is concerned. Some countries are loose in the manner in which they regulate and control their investment domiciles. Such countries are preferred by criminals intent on evading tax, laundering money [...]

Every company requires an audit in order to meet all requirements and obligations. At NUE Chartered Accountants, we provide audits at very affordable rates. However, along with the audit, it is one of the toughest and most rigorous scrutinies your company will go through. Audit accounting explained Audits are crucial in ensuring that financial resources are allocated fairly and effectively and that the company's accounting is correct. An internal audit may be conducted with the goal of locating potential areas for cost and risk reduction. When an auditor reviews key financial statements or a company's financial results, the results are typically [...]

The cash flow of a business is basically an assessment of all cash flowing into and out of the company. A successful or profitable business will have more cash coming into the business than being paid out. Managing cash flow well is an essential skill if you wish to keep your business and operations running smoothly. Incoming cash would be any and all cash payments that are received by the business. Examples of cash inflows would be the receipt of a loan, earning interest on an investment or selling products and services. Outgoing cash would be any and all cash or [...]

Income tax is a tax that you pay on the amount of money that you make, that is deemed taxable by SARS. This income could be: Remuneration (income from employment), such as, salaries, wages, bonuses, overtime pay, taxable (fringe) benefits, allowances and certain lump sum benefits Profits or losses from a business or trade Income or profits arising from an individual being a beneficiary of a trust Director’s fees Investment income, such as interest and foreign dividends Rental income or losses Income from royalties Annuities Pension income Certain capital gains You are liable to pay income tax if you earn more than: R78 [...]

By introducing the Extensible Business Reporting Language (XBRL), the Companies and Intellectual Property Commission(CIPC) significantly simplified financial reporting. XBRL is a digital financial reporting solution that allows companies to digitally file yearly financial statements that can then be shared across the regulatory spectrum for multiple purposes. These can also be analysed for trends and the like, far more deeply than is possible with PDFs. Having financial statements in an XBRL format means the Department of Trade and Industry (DTI), through CIPC, can use the data, share it, and also analyse it on a clearly defined digital platform. In keeping with global [...]