There are two main components any business owner needs to understand and read. These reports are the balance sheet or statement of financial position and the Income statement or Profit and Loss.
When people think of an accounting system the daunting, throat tightening, stress-inducing thought of admin, cripple any business owner. Most major accounting systems have moved to cloud-based accounting platform and are making the lives of business owners out there much easier. Saving time and reducing costs. Music to any business owners’ ears.
During the State of the Nation Address last week President Cyril Ramaphosa raised many important points that had the nation talking.
February month is provisional tax month for all legal entities with a February year end (companies, close corporations), trusts and all individual tax payers who receives income other than a fixed monthly salary. This estimated tax return can result in unnecessary penalties and interest if attention is not given to the calculation.
Marna Scheepers completed her studies at the School of Accounting Science at the University of Pretoria in 2001. She completed her articles with PriceWaterhouseCoopers in 2005 after a secondment to the USA to obtain additional experience.