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25 May 24

Understanding XBRL Reporting for South African Businesses

What is XBRL? XBRL stands for eXtensible Business Reporting Language. It is a technology standard for the electronic communication of business and financial data, increasingly adopted worldwide. XBRL offers significant benefits in the preparation, analysis, and communication of business information. It ensures cost savings, greater efficiency, and improved accuracy and…

24 May 24

Navigating IFRS 3 – Practical Strategies for Accounting in Business Combinations

Business combinations are integral to corporate growth strategies, enabling companies to expand their operations, diversify their portfolios, and increase market share. In the realm of financial reporting, adhering to International Financial Reporting Standards (IFRS) 3 is essential for accurately accounting for these transactions. Core Principles of IFRS 3 At the…

19 Mar 24

The Vital Role of Accountants in Business Growth

There exists a silent force largely responsible for driving the wheels of growth and prosperity in businesses that achieve massive success in South Africa — ACCOUNTANTS. These financial experts play a pivotal role in the success of businesses across various sectors, serving as trusted advisors, strategic planners, and guardians of…

26 Oct 23

Things Medical Practices Should Expect From Their Accountants

As a medical practitioner managing a private practice, entrusting your financial well-being to a trusted accountant is paramount. Your financial objectives may range from optimizing tax planning and reducing administrative burdens to personal financial planning. In this article, we’ll delve into what medical practices should expect from their accountants to…

25 Oct 23

Accounting and Billing Software for Your Medical Practice

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about your accounting and billing systems. The Significance of Billing Systems Your billing system should serve as an essential tool in managing your practice’s finances. It should provide you with…

23 Oct 23

As a Medical Doctor, Do I Register an Inc or Pty or Sole Proprietor

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about a common question that we get from medical practitioners, and that is the question of whether they should incorporate as a Personal Liability Company (commonly referred to as an…

05 Jun 23

5 Key Things to Consider When Starting a Business

Starting a new business is a daunting task – definitely not for the faint-hearted! Besides all the introspection and self-doubt, you suddenly have a myriad of tasks and decisions that you’ve never had to deal with before. However, although the learning curve and juggling are inevitable, you will soon develop…