jjtaccountants

[jjtaccountants]

The main concept of corporate finance is the management of capital. This is accomplished by investing and raising capital for the future needs of the business as well as for short term ventures. As a part of this process, corporations must also manage their current assets and liabilities, which are basically their debts and credits. By managing these areas, corporations can effectively control their own financial health and evaluate how much money they need to stay in business

#tax #audit #bookkeeping #accounting #corporatefinance #advisory

[jjtaccountants]

To successfully grow your business, you need to be able to monitor your money and measure your performance throughout the year. That means more than just the occasional glimpse at your bank balance.

Indeed, a healthy bank balance doesn’t necessarily indicate a healthy company. Your cash balance is simply a snapshot in time, and fails to consider impending outgoings, trading conditions or the state of your sales pipeline.

Management accounts lift the lid on all this information and when you are able to identify trends in sales quickly you will also have better information for planning growth, diversification or expansion. Without the information all you have is gut-feeling, and in business that can cost you dearly.

#accounting tax audit corporatefinance advisory bookkeeping

[jjtaccountants]

Types of Managerial Accounting:- Product Costing and Valuation.- Cash Flow Analysis.- Inventory Turnover Analysis.- Constraint Analysis.- Financial Leverage Metrics.- Accounts Receivable (AR) Management.- Budgeting, Trend Analysis, and Forecasting. #tax #taxes #advisory #bookkeeping #accounting #corporatefinance #audit

[jjtaccountants]

Management accounts can be defined as set of summarized accounting data (balance sheet, cash flow, and income statement) prepared and presented (usually every month, fortnight, or week) specifically for a firm’s management. The objective of management accounts is to provide timely and key financial and statistical information required by managers to make day to day and short-term decisions. #taxes #tax #advisory #bookkeeping #accounting #corporatefinance #audit

[jjtaccountants]

Management accounts are financial reports produced for the business owners and managers, generally monthly or quarterly, normally a Profit & Loss report and a Balance Sheet. In principle they are similar to Year End accounts but are less formal and are personalised to the user's requirements

#taxes #tax #bookkeeping #accounting #corporatefinance #audit  #advisory

[jjtaccountants]

Local and global outlook:-South Africa’s economy grew by an estimated 2.50% in 2022 which is an upward revision from the 1.9% projected in 2022.-Real Gross Domestic Product (GDP) growth is projected to average 1.4% from 2023 to 2025, compared to the estimated 1.60% in October 2022.-Regarding the global outlook, the International Monetary Fund projects growth to slow from an estimated 3.4% in 2022 to 2.90% in 2023.Fiscal outlook:-National Treasury will be bringing the fiscal deficit down without resorting to tax increases or any further cuts in social wages and infrastructures. This is due to the fiscal consolidation strategy that was adopted several years ago.-In 2022/2023 the consolidated fiscal deficit is projected at 4.2% of GDP and this is expected to reach 3.2% in 2025/2026.

[jjtaccountants]

XERO:- Partnership – Xero allows collaboration between financial advisors, outsourced    bookkeepers, and businesses as users can view transactions and published financial  reports in real-time.- User-friendly – features let you do accounting tasks such as financial reporting, reconciliations, and switching between clients much faster.- Time-saving features – converting quotes, schedule recurring invoices, setting automatic payment reminders and attaching files are all quick and easy to do.-Add-on integration – additional third-party add-ons automate and link data saving time and money.-Multiple users – the cloud-based software enables setting up of multiple user levels within the account alongside different access rights which are role-based.-Offers more than 700 integrations – running more than 50 reports to allow management of both customers and suppliers.

[jjtaccountants]

SAGE ACCOUNTING SOFTWARE - There are lots of different products in the Sage brand of     accounting software, so there is almost certainly something for all   business types and sizes. - The artificial intelligence and data-driven insights are very   accurate and can really help optimize much of your accounting   processes. - Automation and workflows are relatively easy to create with Sage  and immediately help speed up operations when implemented. - The Accounting Standard’s basic invoices, purchasing, and billing   are a tight little package for a freelancer or individual   entrepreneur. - Sage 50cloud’s inventory management is another benefit to that   platform. It’s solid enough to handle quite the operation with   multiple locations but without the cost of Intacct. - A final pro for Sage is Intacct’s global accepting management  solution. If you run a business in multiple currencies and tax rules,  this is a solid vendor.

[jjtaccountants]

This week, we will be looking at the most popular accounting packages and give you some insight on how they work

.#accounting #advisory #financialmanagment #audit #tax #corporatefinance

[jjtaccountants]

Companies automatically fall into the provisional tax system. There is no longer a registration or deregistration process to be a provisional taxpayer. The onus is on the taxpayer to determine if he or she is liable for provisional tax, and to request and submit an IRP6 return via eFiling #tax #audit #accounting #Advisory #corporatefinance #financialmanagement

[jjtaccountants]

Provisional tax is not a separate tax from income tax. It is a method of paying the income tax liability in advance, to ensure that the taxpayer does not have a large tax debt on assessment. Provisional tax allows the tax liability to be spread over the relevant year of assessment

#accounting #tax #auditing #corporatefinance #financialmanagement #advisory

[jjtaccountants]

The purpose of a buy-and-sell agreement is to provide the surviving co-owners with cash to purchase the interest of a deceased co-owner.According to the agreement, each co-owner takes out life cover on the other co-owners’ lives. The life cover pays out on the death of a co-owner, which funds the purchase of his/her interest by the surviving co-owner(s).

#accoutning #auditing #tax #advisory #corporatefinance #financialmanagement

[jjtaccountants]

We are fast approaching 2023 Financial Year End.Make sure you have a solid plan for 2024. Its amazing what can happen if you actually write down what you want to achieve.

#accounting #tax #advisory #audit #corporatefinance

[jjtaccountants]

All companies (including external companies) and close corporations are required by law to file their annual returns with the CIPC on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future.  The annual return may be regarded as a type of annual “renewal” of the company or close corporation registration.

Therefore, if annual returns are not filed within the prescribed time period, the assumption is that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal effect of the deregistration process is that the juristic personality is withdrawn and the company or close corporation ceases to exist.

#accounting #auditing #tax #corporatefinance #financialmanagement #advisory

#accounting auditing tax corporatefinance financialmanagement advisory

[jjtaccountants]

Do you know if you are registering your company correctly?What else do you need to register?When should you submit what?If these are questions you are asking yourself, give us a call! 087 897 5662 or  [email protected]

#tax #accounting #audit #advisory #corporatefinance #financialmanagement

[jjtaccountants]

CIPC has made changes to their system, and with change, comes obstacles. Luckily for you, you don't need to keep up to date with any of the changes or get frustrated with constant obstacles as the new system is launched. At JJT, we keep up to date and do the necessary work to make sure your business stays compliant.

#accounting #auditing #tax  #advisory #financialmanagement #corporatefinance

[jjtaccountants]

Financial Year end is around the corner for most business. We can help you with your Annual Financial Statements and advise you on the best way forward for the new financial year.

#accounting #audit #advisory #financialmanagement #tax #corporatefinance