Computers can see, speak, hear and also execute tasks. The smart technology era introduced us to computer systems that can be programmed to do the tasks that most human workers do daily. What does this mean for accountants?
Category: Accounting Services
Bookkeeping is a vital job in any business. This is true whether you do the work yourself or hire someone to do it for you. Without proper bookkeeping, your accounts will not be accurate. It involves systematically recording and organizing financial transactions and is a fundamental aspect of effective financial management.
When preparing a set of Financial Statements for a trust, we always aim to minimize paying taxes in the trust, primarily due to the high tax rate a trust attracts/benefit of lower tax rates of beneficiaries, whom in most cases are individuals and companies. This article aims to provide some sort of clarity on the treatment of income earned by a trust and how that income flows and is treated in the hands of the beneficiaries.
Ethics require accounting professionals to comply with the laws and regulations that govern their jurisdictions and their bodies of work. Avoiding actions that could negatively affect the reputation of the profession is a reasonable commitment that business partners and others should expect.
We need to attain a rhythm of good housekeeping for 2022 …. Why? Covid taught us numerous challenges and how to overcome it daily. Some of us excelled during Covid and some of us struggled and during these uncertain times we all learned at least one thing: Life is about living one day at a time… because we don’t know what tomorrow may bring. This article lists a proposed personal 10-point plan, as well some pointers for your business.
As we are starting off on a new year in our diaries, we can also rethink the way we do things. With most financial year ends coming up – maybe it is time we should consider the accounting software we are using. As technology keeps on taking big leaps forward, we ought to consider what it has to offer.
While profit and cash may be the ultimate heroes of the small business world, there is a component of the bottom line which may be just as informative. This component is called revenue, which can give the user of financial statements actionable information about performance that profit or cash flow from operating activities alone does not reflect.