GLOSSARY

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.

Choose the right Accounting Software 02 Feb 2023 • A Accounting software - Choosing the right software is important

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.

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 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 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 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 accrual accounting? 06 Mar 2023 • A Accrual accounting indicates how much cash a Business has and what invoices are owed to them.

What is An Annual Report 18 Mar 2023 • A What is an Annual Report?

What are Annual Returns CIPC? 01 Apr 2023 • A What are Annual Returns CIPC?

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.

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.

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.

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 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 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 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 Activity-based Costing? 20 Jul 2024 • A A crucial aspect of achieving business prosperity is minimizing overhead expenses and optimizing earnings.

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.