Archive for Accounting

MANAGING YOUR BUSINESS BANK ACCOUNT

MANAGING YOUR BUSINESS BANK ACCOUNT

The next logical step after properly registering your business is to open up a bank account in the new company’s name. Remember you are now a totally separate entity from your business and as such you cannot (and should not) mix the monies of the…

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AUDIT FIRMS NEED TO ENCOURAGE SMALLER CLIENTSTO ADOPT IFRS FOR SME’S

AUDIT FIRMS NEED TO ENCOURAGE SMALLER CLIENTSTO ADOPT IFRS FOR SME’S

Relief has been extended to small and medium enterprises (SMEs) with the introduction of International Financial Reporting Standards (IFRS) for SMEs, yet overburdened businesses are being denied this much-needed respite, as many auditors are not encouraging their clients to adopt the new standard in place…

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CUTTING THE CLUTTER 

CUTTING THE CLUTTER 

The issue of ‘disclosure overload’ is not new, neither is it an issue for preparers of IFRS financial statements only. In fact, a number of standard-setters and regulators around the world are attempting to find solutions to the issue of disclosure overload.  The International Accounting…

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SOUTH AFRICA MAINTAINS TOP POSITION FOR AUDITING AND REPORTING STANDARDS

SOUTH AFRICA MAINTAINS TOP POSITION FOR AUDITING AND REPORTING STANDARDS

South Africa has maintained the number one position for its strength of auditing and reporting standards for the sixth consecutive year. You can find more information on this ranking in the World Economic Forum’s Global Competitiveness Report 2014 – 2015. http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2014-15.pdf

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