Smart Approaches to Trading Stock Valuation
GAAP / IFRS determines the accounting treatment, with tax largely following suit. Valuing your trading stock, also known as inventory, is a critical aspect of financial accounting and business management—not to mention tax compliance. Accurate valuation of inventory ensures that a company’s financial statements present a true and fair view of its financial position, directly […]
The Impact of Recent Companies Act Amendments on Audit and Review Requirements for Close Corporations
Under the amended legislative framework, members of a close corporation are now required to prepare annual financial statements (AFS) within six months after the financial year-end. This timeline was shortened from the previous nine-month period due to the incorporation of relevant provisions from the Companies Act into the Close Corporations Act 69 of 1984. Section […]
Maximising Wealth, Minimising Tax
A comparative look at retirement annuities versus tax-free savings accounts. When it comes to personal finance, every individual has different needs, dreams and financial goals, as well as different pathways to achieving those objectives. One of the most common long-term ambitions shared by many South Africans is to retire comfortably—to live confidently, knowing that there […]