How to Know Your Numbers?
When times are tough, it pays to know your numbers. But what does that mean? ‘The Numbers’ are the critical drivers of your business. The… Read More »How to Know Your Numbers?
Grieve v Commissioner of Inland Revenue
Summary Taxpayer suffered losses while conducing farming operations. Commissioner denied the deduction on the notion of NO business was being carried. Definition of business was… Read More »Grieve v Commissioner of Inland Revenue
WHAT ARE GOOD ACCOUNTING PRACTICES? WHAT ARE TRANSACTION CYCLES?
A well designed accounting internal control system should have five objectives: • Authorization • Accountability and comparison • Proper recording where ‘completeness’ is a paramount.… Read More »WHAT ARE GOOD ACCOUNTING PRACTICES? WHAT ARE TRANSACTION CYCLES?
UPLIFT BUSINESS CAPABILITIES
Uplift business capabilities through: • Identifying ‘criteria’ to judge fairly the process maturity Process Maturity is assessed by looking into: Process, Measures, Storage, Analysis, Reporting… Read More »UPLIFT BUSINESS CAPABILITIES
TIPS ON PUTTING CONTRACTOR PAYMENTS INTO PAYROLL
There are generally five things to do when setting up a contractor in your payroll system. Set the tax rate to Withholding Tax. Add a… Read More »TIPS ON PUTTING CONTRACTOR PAYMENTS INTO PAYROLL
THE VALUE OF HAVING EFFECTIVE AND EFFICIENT BUSINESS PROCESSES
Most people think of audits as referring to financial audits or tax audits. It is in fact, wider. In reality, an audit or review of… Read More »THE VALUE OF HAVING EFFECTIVE AND EFFICIENT BUSINESS PROCESSES
WHAT IS ‘CONTROL SELF-ASSESSMENT”?
A method for management to demonstrate the existence and effectiveness of its internal financial controls. This documentation can be in the shape of a Standard… Read More »WHAT IS ‘CONTROL SELF-ASSESSMENT”?