As an accountant, you have to know everything about doubtful debt and bad debt.
Understanding these two concepts will help you ensure you deal with them and the tax consequences correctly.
If... [read more]
Experts at the Accounting & Tax Club say Financial Statement Fraud happens when companies deliberately overstate assets, revenues and profits or understate liabilities, expenses and losses in their... [read more]
You probably know that the Income Tax Act says you can deduct bad debts if:
1. Money is due to you;
2. The outstanding amount was originally included in your taxable income in any previous year... [read more]
If you qualify for Vat registration, you have no choice, you must register.
The Vat Act says you must register Vat if:
1. You reach the R1 million turnover threshold;
2. Your business is... [read more]
You already know that analysing your financial statements is a MUST as it allows you to spot trends in your business and see any problems that may come your way.
But do you have the “right... [read more]
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