GLOSSARY
What is a Manufacturing Report?
22 Sep 2024 • M
As manufacturing facilities collect more data every day, management reports are becoming more important. These reports help manage manufacturing companies effectively.
What is Immigration?
10 Sep 2024 • I
Immigration refers to the act of relocating to a different country or area with the aim of residing and settling there.
What is Emigration?
10 Sep 2024 • E
Emigration refers to the process of leaving one's home country to settle in another nation. Leaving one country for another can be an emotional and difficult decision.
Mastering Agreed-Upon Procedures Engagements
24 Aug 2024 • A
As corporate accountants, we frequently encounter scenarios where clients require particular tasks to be carried out, but don't need an opinion or assurance.
BINDING GENERAL RULING (INCOME TAX) 73
11 Aug 2024 • B
Meaning of Taxable Income for Purposes of Setting-Off the balance of an assessed loss by a Company.
What is Marginal Cost Accounting?
20 Jul 2024 • M
In economics, marginal cost is the extra cost of making one more unit of a product.
What is Activity-based Costing?
20 Jul 2024 • A
A crucial aspect of achieving business prosperity is minimizing overhead expenses and optimizing earnings.
What is EBIT? Earnings Before Interest and Tax
29 Jun 2024 • E
Determining the financial health of your business can be difficult. Numerous metrics to consider, and the figures don't always add.
What is EBITDA and how do I calculate it?
27 Jun 2024 • E
EBITDA, which stands for earnings before interest, taxes, depreciation and amortization, helps evaluate a business’s core profitability.
What is a Depreciation Schedule?
19 Jun 2024 • D
A depreciation schedule outlines the decrease in value of an asset throughout the duration you've determined as its useful lifespan, utilizing the accounting approach you've selected.
What is an Asset Register?
19 Jun 2024 • A
In its simplest form, an asset register is a detailed list compiled of all your business assets.
What is Logistics in Business and how is it used?
16 Jun 2024 • L
In the realm of distribution, logistics denotes the systematic transportation of goods and services from their source to the end-user, in order to fulfill customer needs.
Who is a Professional Accountant?
05 Jun 2024 • P
Professional Accountants are Qualified Individuals who have obtained a Professional Accounting Designation.
What is Gross Salary in South Africa?
04 Jun 2024 • G
The amount that you actually earn before deductions from your salary. Net pay - The amount that gets paid into your bank account.
What is Equity in South Africa
31 May 2024 • E
In financial terms, equity refers to a stake in property that can be counter balanced by debts or other financial obligations.
What is Amortization in South Africa
29 May 2024 • A
Amortization in accounting is when the cost of an asset is spread out over its useful life.
What are Pay Runs in South Africa
29 May 2024 • P
We refer to a payroll as a pay run. Pay runs encompass various components needed to compensate your workers
What is a General Ledger
25 May 2024 • G
A general ledger, or GL, is a means for keeping record of a company's total financial accounts.
What is Overtime in South Africa
25 May 2024 • O
Overtime is the term used to describe any hours an employee works beyond their regular scheduled work hours.
What is Capital Gains Tax
25 May 2024 • C
Capital gains tax (CGT) is not a separate tax but forms part of income tax. A capital gain arises when you dispose of an asset on or after 1 October 2001 for proceeds that exceed its base cost.
What is Business Intelligence and why is it important?
25 May 2024 • B
Business intelligence (BI) uses technology to analyze data. It provides useful information for executives, managers, and workers.
What is Big Data why is it important
25 May 2024 • B
Big data refers to a large amount of structured and unstructured data that can be analyzed for information and insights.
What is Blockchain
25 May 2024 • B
Blockchain is an incorruptible digital ledger where financial transactions or anything of value can be recorded.
What is an Annuity and how does it work
25 May 2024 • A
An annuity is a contract where an individual buys a product and receives regular payments later on.
What is Inventory
25 May 2024 • I
Inventory encompasses all the items, products, commodities, and resources that a business possesses for the purpose of selling to generate revenue.
What are Cash Equivalents in Financial Statements
24 May 2024 • C
Cash equivalents are assets that a business invests in short-term securities to earn interest. These securities can include stocks, bonds, treasury bills, commercial paper, or other known securities.
SARS Interpretation Note 66 on Scholarships and Bursaries in South Africa
04 May 2024 • S
This note explains how scholarships or bursaries for education are taxed. These scholarships are given to individuals studying at recognized educational or research institutions.
What is an IT3t Tax Certificate
09 Apr 2024 • I
The South African Revenue Service (SARS) has released instructions for trustees on how to disclose details about distributions made to beneficiaries or individuals from trusts.
What is an IT3c Tax Certificate
09 Apr 2024 • I
An IT3c is a tax certificate received from a bank or financial institution. It summarizes any investments you may have made with them.
What is an IT3b Tax Certificate
09 Apr 2024 • I
It shows the income you earned on your investment during a particular tax year.
What is an IT3s Tax Certificate
09 Apr 2024 • I
An IT3(s) is a Tax Certificate that you obtain from a financial institution like a bank or financial services provider.
What is an IT3d Tax Certificate
09 Apr 2024 • I
The IT3d tax certificate relates to donations made. When donations are made these are the tax certificates that are required to be issued.
What is a ui19 form
21 Mar 2024 • U
The UI-19 form is used to report the total wages paid to employees during a specific period.
What is Maternity leave
19 Mar 2024 • M
No employer may discriminate directly or indirectly against anyone on grounds related to pregnancy.
What is Paternity Leave
18 Mar 2024 • P
On January 1, 2020, parts 1 to 7 of the Labour Laws Amendment Act of 2018 came into effect. These parts amended the Basic Conditions of Employment Act to include new leave sections.
Creditors Meaning and the Creditors Ledger
16 Feb 2024 • C
A creditor or lender is a party that has a claim on the products or services rendered to a second party. A creditors ledger records these transactions.
What is a Business Valuation
12 Feb 2024 • B
Business Valuation is the process of determining the worth of an asset or company. It involves making assumptions and considering conditions, using the data that is available at a specific date.
IFRS 14 Regulatory Deferral Accounts
09 Jan 2024 • I
IFRS 14 prescribes special accounting for the effects of rate regulation.
IFRS 11 Joint Arrangements
09 Jan 2024 • I
IFRS 11 establishes principles for financial reporting by entities that have an interest in arrangements that are controlled jointly also referred to as joint arrangements.
IFRS 10 Consolidated Financial Statements
09 Jan 2024 • I
IFRS 10 establishes principles and sets rules for presenting and preparing consolidated financial statements when a company controls other companies.
IFRS 8 Operating Segments
09 Jan 2024 • I
IFRS 8 requires companies with publicly traded stocks or bonds to disclose information in their financial statements.
IFRS 7 Financial Instruments - Disclosures
08 Jan 2024 • I
IFRS 7 guides us on how to disclose an entity's financial assets and financial liabilities from a qualitative and quantitative perspective.
What is Company Tax
30 Dec 2023 • C
Corporate taxes in South Africa is currently 27% for tax years end after 31 March 2023 (prior to this it was 28%).
IFRS 15 Revenue from Contracts with Customers
29 Dec 2023 • I
IFRS 15 is effective for annual reporting periods beginning on or after 1 January 2018, with earlier application permitted.
IFRS 6 Exploration for and Evaluation of Mineral Resources
29 Dec 2023 • I
In December 2004 the International Accounting Standards Board issued IFRS 6 Exploration for and Evaluation of Mineral Resources.
IFRS 5 Non-current assets held for sale and Discontinued Operations
29 Dec 2023 • I
IFRS 5 determines how assets are classified in the financial statements once they become 'held for sale' or in the event of discontinued operations.
IFRS 4 Insurance Contracts
28 Dec 2023 • I
The IFRS 4 standard will be superseded by IFRS 17 Insurance Contracts.
IFRS 3 Business Combinations
28 Dec 2023 • I
The acquirer discloses information that enables users to evaluate the nature and financial effects of the acquisition in a business combination.
IFRS 17 Insurance Contracts
27 Dec 2023 • I
IFRS 17 starts on 1 January 2023, but can be used earlier if IFRS 9 is also used.
IFRS for SMEs - what is it and how is it applied
26 Dec 2023 • I
The IFRS for SMEs Accounting Standard reflects five types of simplifications from the full IFRS Accounting Standards.
What are IFRS 16 Leases
26 Dec 2023 • I
IFRS 16 starts on 1 January 2019 for annual reports but can be used earlier if IFRS 15 is also used.
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IFRS 12 disclosure of interests in other entities
21 Dec 2023 • I
IFRS 12 mandates companies to disclose ownership information in other companies. This includes subsidiaries, joint ventures, associates, and unconsolidated structured entities.
IFRS 13 Fair Value Measurement
19 Dec 2023 • I
A fair value measurement is for a particular asset or liability. To determine fair value, an entity must consider the qualities of the asset or liability.
IFRS 3 Business Combinations - Principles and Requirements
13 Dec 2023 • I
IFRS 3 establishes principles and requirements for how an acquirer in a business combination.
IFRS 1 First-time Adoption of International Financial Reporting Standards
11 Dec 2023 • I
IFRS 1 requires an entity that is adopting IFRS Standards for the first time, to prepare a complete set of financial statements, covering its first IFRS reporting period and the preceding year.
IFRS 2 share-based payments
08 Dec 2023 • I
IFRS 2 outlines how a company reports its financials when it gives employees share-based payments, like stock options.
IFRS 9 and the Provision for Expected Credit Losses
05 Dec 2023 • I
IFRS 9 says credit losses on financial assets must be measured and recognized using the 'expected credit loss (ECL) approach.
How do you calculate the acid test ratio
30 Nov 2023 • A
The acid test ratio measures how easily a company can pay debts using its most liquid assets, especially short-term assets.
What is Customs Clearance
29 Nov 2023 • C
Customs clearance is the process of declaring goods to Customs authorities when entering or leaving a country.
What is a mortgage?
26 Oct 2023 • M
A mortgage is a bond that is registered to a property and in most instances the property would serve as security for that mortgage bond.
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What is Deferred Tax
23 Oct 2023 • D
Deferred tax is the difference between the accounting and tax application of a transaction.
Trust Tax rate and accounting for Trusts
18 Oct 2023 • T
The taxation of Trusts is at a flat rate in South Africa. Any profit that is distributed is taxed in the hands of the beneficiaries.
What is a Cooperative
10 Oct 2023 • C
A cooperative is controlled by their members who are a group of people who own and control the organization together.
Personal Income Tax South Africa
19 Sep 2023 • P
Personal Income tax is the normal tax you pay on your taxable income received for a tax year of assessment.
What is a Close Corporation
08 Sep 2023 • C
A CC is a limited liability entity where it has its own legal personality and the ability to continue into perpuity. CCs are governed by the Close Corporation Act 69 of 1984.
What is a Public Interest Score
08 Sep 2023 • P
The public interest score determines whether a company should be audited or have an independent review performed on its financials.
What are Exempt Supplies - what effect does it have on VAT
06 Sep 2023 • E
Exempt Supplies mean a supply of goods or services which are supplies not subject to VAT under the VAT Act.
Donations Tax Exemption - What you should know
03 Sep 2023 • D
Have you received a donation or made a generous donation recently? Understanding how to declare your donations tax is important.
What is PAYE - when is employees tax payable
27 Aug 2023 • P
PAYE which stands for Pay-As-You-Earn is the tax system which the South African Revenue Service uses for collecting income taxes.
Accounting Equation - What is it and how to calculate it
27 Aug 2023 • A
The basic accounting equation summarizes the nature of the double entry accounting system. The financial statements would not balance if the accounting equation does not balance.
Accountant - Who are they and what do they do?
26 Aug 2023 • A
You are either thinking of hiring or becoming an accountant and wondering who they are and what do they do.
Income tax calculator for Individuals 2023/2024
20 Aug 2023 • T
Most income tax calculators leave out some of these variables from the formula when calculating tax payable or refundable. This is why it is preferable to use the services of a tax practitioner.
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What is a BO Register
17 Aug 2023 • B
A BO Register is a repository of natural persons who own or exercise control or influence over legal entities.
What is the Companies Act
10 Aug 2023 • C
The Company Act provides for the registration, organisation and management of companies
What is a Securities Register
10 Aug 2023 • S
The securities register of a profit company required in terms of section 24 (4)(a), read with section 50 (1)(b), must be kept in one of the official languages of the Republic of South Africa
What is a Tax Return
10 Aug 2023 • T
A Tax Return is submitted to a tax authority to make the required declarations as per the various tax acts.
What is VAT Refundable
02 Aug 2023 • V
If a vendor has an outstanding debt, a VAT refund will be set-off against that debt and any balance will be payable to the vendor.
What is sales
02 Aug 2023 • S
What is the definition of sales
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What is a VAT Return
26 Jul 2023 • V
What is a VAT return and why must you submit it
What is the SAIPA Login
26 Jul 2023 • S
Where do you go to log in to SAIPA
What are Annual Financial Statements - types of statements
20 Jul 2023 • F
Financial statements are a set of documents that show your company's financial status at a specific point in time.
What is VAT exempt
06 Apr 2023 • V
That means if you sell these goods and services, you won't charge your customers any VAT, and if you buy them there will be no VAT to reclaim.
What are Zero-rated VAT items
06 Apr 2023 • Z
Zero-rated items are exempt from Value Added Tax VAT. This does not mean that Zero-rated items don’t have to be reported to SARS.
Who is a Shareholder of a Company
06 Apr 2023 • S
Shareholders own the company, but they are not always involved in the daily operations.
Who is a Director of a Company
06 Apr 2023 • D
A director is ordinarily someone appointed to manage a company's business and affairs.
CIPC eServices - what you need to know
06 Apr 2023 • C
The Companies Act of 2008 of South Africa established CIPC South Africa, also known as Companies and Intellectual Property Commission to effectively enforce the provisions of the companies act.
Your IRP6 Tax Return helps you during Income Tax Season
06 Apr 2023 • I
Most people don't realize the importance that the Prov Tax Seasons play in helping them manage their final tax bill come Income Tax Season.
What is Input VAT - how to calculate it
06 Apr 2023 • I
Input VAT is the VAT calculated on the Sales made by a vat registered business. The output VAT must be paid over to SARS and is a liability in the books of the business.
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What is Output VAT?
06 Apr 2023 • O
Output VAT is the standard rate VAT calculated on the sale of goods and services of a vat registered business. The output VAT must be paid over to SARS and is disclosed as a liability in the books of
What is SDL in South Africa
06 Apr 2023 • S
SDL is a levy imposed to encourage learning and development in South Africa and is determined by an employer’s salary bill.
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What is UIF? - Claiming and UIF login
06 Apr 2023 • U
The Unemployment Insurance Fund (UIF) provides relief when workers become unemployed.
What is a VAT201
06 Apr 2023 • V
What is a VAT201?
What are Accounting Services
02 Apr 2023 • A
Accounting services can include Tax Preparation and Planning, tracking of profit and loss. Accounting entails the maintenance of accurate records and the monitoring of financial records and reporting.
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What is a Capital Expense
01 Apr 2023 • C
Capital expenditures (CapEx) are funds used by a company to acquire or upgrade physical assets such as property, buildings, or equipment.
What is Revenue and how do you calculate it
01 Apr 2023 • R
Revenue is the total money a company makes from operations in a specific time period. A business’s revenue is its gross income before subtracting any expenses.
How to calculate gross profit margin
01 Apr 2023 • G
How to calculate gross profit margin
What are Annual Returns CIPC?
01 Apr 2023 • A
What are Annual Returns CIPC?
What is an Expense?
31 Mar 2023 • E
An expenditure is the operational cost that a business bears to produce income. One simply defines it as the cost one must spend to obtain something.
What is the third (3rd) Provisional Tax Payment?
26 Mar 2023 • P
What is the third (3rd) Provisional Tax Payment?
What is a Public Benefit Organization (PBO)?
26 Mar 2023 • P
What is a Public Benefit Organization (PBO)?
What is a MOI (Memorandum of Incorporation)?
26 Mar 2023 • M
What is a MOI (Memorandum of incorporation)?
What is securities transfer tax?
26 Mar 2023 • S
What is securities transfer tax?
What is an IRP5 - what you need to know
25 Mar 2023 • I
The IRP5 is a tax certificate that discloses the total earnings and deductions of an Employee for a Tax year – 1 March – 28 February
What is an EMP201 & How does it work
25 Mar 2023 • E
EMP201 is a tax return that is submitted by an Employer to SARS on a monthly basis. All Employers who deduct payroll tax from their Employees must submit EMP201
What is a Tax Practitioner?
24 Mar 2023 • T
A Tax Practitioner is a natural person who provides a tax preparation, planning and submissions service on behalf of third parties, for reward.
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What is a SAIPA Professional Accountant (SA)?
23 Mar 2023 • S
A SAIPA Professional Accountant (SA) is an accounting professional who has completed their PE Exam with SAIPA after the successful completion of their articles.
What is Tax Preparation and Planning?
23 Mar 2023 • T
What is Tax Preparation and Planning?
What is Dividend Withholding Tax?
21 Mar 2023 • D
Dividends received by individuals from South African companies are generally exempt from income tax, but dividends tax at a rate of 20% is withheld by the entities paying the dividends.
What is a Non Provisional Taxpayer?
19 Mar 2023 • N
What is a Non Provisional Taxpayer?
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What is An Annual Report
18 Mar 2023 • A
What is an Annual Report?
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What is an Independent Review
18 Mar 2023 • I
What is an Independent Review?
What is an EMP501 - and when is it due
18 Mar 2023 • E
An Employer Reconciliation is a report of all employees' earnings, which must be submitted to SARS each year of assessment.
What is COIDA - Workmen's Compensation Fund
18 Mar 2023 • C
What is Coida? COIDA is a Fund that is governed by the Compensation for Occupation Injuries and Diseases Act (COIDA) of 1993.
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What is Provisional Tax
18 Mar 2023 • P
Provisional Tax is not a different type of Tax but rather a method of advance tax collection.
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What is a VAT Vendor and who must register for VAT
17 Mar 2023 • V
VAT is the acronym for Value-Added Tax. VAT is an indirect tax charged on the consumption of goods and services in the economy.
What is accrual accounting?
06 Mar 2023 • A
Accrual accounting indicates how much cash a Business has and what invoices are owed to them.
What is a direct cost?
26 Feb 2023 • D
Direct costs are directly associated with the goods or services of a business.
What is a variable cost?
04 Feb 2023 • V
Common Variable costs fluctuate based on the trading activity in the business. These are the expenses that will fluctuate with business activity and when the business increases production.
What is a trial balance?
04 Feb 2023 • T
A trial balance is a statement of all the debits and credits in the double-entry accounting system. If the trial balance doesn’t balance, then there is an error in the bookkeeping.
What are trade debtors?
25 Mar 2023 • T
What are trade debtors?
What are trade creditors?
25 Mar 2023 • T
What are trade creditors?
What is a tax deduction?
04 Feb 2023 • T
What is a tax deduction?
What is stock management?
04 Feb 2023 • S
What is stock management?
What is sole proprietorship
04 Feb 2023 • S
A sole proprietorship is a business that is owned and operated by a natural person (individual). This is the simplest form of business entity.
How to calculate profit margin
04 Feb 2023 • P
How to calculate profit margin
What is profit margin?
04 Feb 2023 • P
What is profit margin?
What is a profit and loss statement?
04 Feb 2023 • P
An income statement, also referred to as a P&L (Profit and Loss) statement, monitors the remaining profits after subtracting expenses from income during a particular accounting period.
How to calculate profit
04 Feb 2023 • P
How to calculate profit
What is profit?
04 Feb 2023 • P
What is profit?
What is a payslip
04 Feb 2023 • P
Understanding your payslip is important. An employer gives an employee a payslip each payday. It shows their total amount earned, less deductions for things like tax and social security.
What are payroll records
04 Feb 2023 • P
What are payroll records?
What is Payroll in South Africa
04 Feb 2023 • P
Payroll generally denotes the remuneration given to employees for their services in a business.
What is operating profit?
04 Feb 2023 • O
What is operating profit?
What is an operating expense?
04 Feb 2023 • O
What is an operating expense?
What are non-current liabilities?
04 Feb 2023 • N
What are non-current liabilities?
What are non-current assets?
04 Feb 2023 • N
What are non-current assets?
How to calculate net profit margin
04 Feb 2023 • N
How to calculate net profit margin
What is net profit margin?
04 Feb 2023 • N
What is net profit margin?
How to calculate net profit
04 Feb 2023 • N
How to calculate net profit
What is net profit?
04 Feb 2023 • N
What is net profit?
How to calculate mark up
04 Feb 2023 • M
How to calculate mark up
What is mark up?
04 Feb 2023 • M
What is mark up?
Difference between margin and markup
04 Feb 2023 • M
Difference between margin and markup
How to calculate marginal cost
04 Feb 2023 • M
How to calculate marginal cost
What is marginal cost?
04 Feb 2023 • M
What is marginal cost?
What is liquidity?
04 Feb 2023 • L
What is liquidity?
What are Liabilities?
04 Feb 2023 • L
A liability refers to an obligation or debt that an individual or corporation is responsible for, typically in the form of monetary dues.
What is a ledger?
04 Feb 2023 • L
What is a ledger?
What is a journal entry?
04 Feb 2023 • J
What is a journal entry?
What is an Invoice and why it is an important document
04 Feb 2023 • I
An invoice is a document given to a buyer enables the seller to collect payment. These documents are legal records and can also have specific requirements if the seller is a VAT vendor.
What are intangible assets?
04 Feb 2023 • I
What are intangible assets?
What are indirect costs?
04 Feb 2023 • I
What are indirect costs?
What is gross profit margin?
04 Feb 2023 • G
What is gross profit margin?
Difference between gross and net profit
04 Feb 2023 • G
Difference between gross and net profit
How to calculate gross profit
04 Feb 2023 • G
Gross profit revenue is the profit appear in the income statement after the cost of products, expenses related to production or services sold are deducted.
What is gross profit
04 Feb 2023 • G
What is gross profit?
What is a fixed cost?
04 Feb 2023 • F
What is a fixed cost?
What is free cash flow?
04 Feb 2023 • F
What is free cash flow?
What are fixed assets?
04 Feb 2023 • F
What are fixed assets?
What is the fiscal year?
04 Feb 2023 • F
What is the fiscal year?
What is financial management?
04 Feb 2023 • F
What is financial management? The strategic planning of how a business should earn and spend money.
What is the difference between Current and Non-current liabilities
02 Feb 2023 • C
Current liabilities include short term debts, income taxes dye, accounts payable Non-current liabilities are due in more than one year (longer than 12 months) and most often include debt repayments.
What Are Current Liabilities and how to calculate it
02 Feb 2023 • C
Current liabilities are the company's short-term financial obligations that are due within one year or within its normal operating cycle.
What is the difference between current and fixed assets
02 Feb 2023 • C
Current assets are short-term assets that are typically used up in less than one year.
What are current assets
02 Feb 2023 • C
Currents assets are assets that can be realized in the next 12 months generally collectable with the next financial year.
What is a Commercial Invoice?
02 Feb 2023 • C
A commercial invoice is legal proof that a transaction took place for example, in export and import documentation.
How to calculate COGS?
02 Feb 2023 • C
How to calculate COGS?
What are Cost of Goods Sold (COGS)?
02 Feb 2023 • C
What are COGS? Otherwise known as cost of sales
What is a Chart of Accounts?
02 Feb 2023 • C
A Chart of Accounts (COA) is an Index of all the accounts in the general ledger of a company.
What is Cashflow Management?
02 Feb 2023 • C
Managing cash flow is important for all businesses, whether they are small startups or large corporations. It is crucial for success.
What is Cost Accounting?
02 Feb 2023 • C
Cost accounting is a type of managerial accounting that focuses on the cost structure of a business. It assigns costs to products, services, processes, projects and related activities.
What is Capital?
02 Feb 2023 • C
Capital is anything that gives its owner value or advantage, such as a factory, patents, or financial assets.
What is Business Accounting?
02 Feb 2023 • B
What is business accounting? Business accounting entails the recording, organizing, analyzing, interpretation, reporting and presentation of financial data.
What is Book Value?
02 Feb 2023 • B
Book value represents the value of an asset as reflected on the business' Balance Sheet
What is a bank reconciliation
02 Feb 2023 • B
A Bank reconciliation is where you balance the business accounts in the accounting system to the actual bank account.
What is a balance sheet?
02 Feb 2023 • B
A Balance sheet is an overview of the Assets, Liabilities and Owner equity and any given point in time.
What is an Asset and how is it classified?
02 Feb 2023 • A
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
What is accounts receivable
02 Feb 2023 • A
Accounts receivable (AR) is the balance of money due to a business for goods or services delivered or used but not yet paid for by customers.
What is accounts payable?
02 Feb 2023 • A
Accounts payable (AP), or "payables," refers to a company's short-term obligations owed to its creditors or suppliers, which have not yet been paid.
What is accounting software?
02 Feb 2023 • A
Accounting software is software that is used to process raw financial data and perform various other accounting and bookkeeping tasks.
What is the difference between Bookkeeping and Accounting?
02 Feb 2023 • A
Both bookkeeping and accounting play crucial roles in the administration of business finances. Both professionals have expanded their services, leading to a lot of overlap between the two tasks.
Choose the right Accounting Software
02 Feb 2023 • A
Accounting software - Choosing the right software is important
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Definition of IFRS & how it affects transactions
02 Feb 2023 • I
International Financial Reporting Standards IFRS is a set of accounting rules that outlines how financial information should be processed and reported in financials.
How to calculate operating profit?
02 Feb 2023 • O
How to calculate operating profit?
What is working capital?
02 Feb 2023 • W
Working capital is the day-to-day cash that is used in operations. Maintaining a positive working capital balance is an essential ingredient to operational efficiency.
What is financial reporting?
02 Feb 2023 • F
Financial reporting helps you make informed decisions about investment, managing the business and forecasting for the future.
What is the basis of accounting?
02 Feb 2023 • B
The basis of accounting will indicate when transactions are recognized for tax and accounting purposes.
What is a cashflow statement
02 Feb 2023 • C
Cash flow statements provide visibility of upcoming costs and regular outgoings so you can understand the financial health of your business.
What is an Accounting Period
30 Jan 2023 • A
An accounting period is a time frame set by the business owners. The time frame is used for financial reporting.
