Do you stand on correct Accounting Principles?
Accounting principles versus absolutes I don’t like absolutes. Absolutes are it when people make statements that are said with authority and are generally taken as gospel truth. These statements are often incorrect anyway, eg: ALL businesses should be on TikTok. REALLY? Why? Is there data to confirm this? NO! With technology and everything in everyday […]
Accountant – friend or foe?
An Accountant does what? The burning question that gets asked frequently is this: “What do accountants actually do”? The answer can be as simple and as complex as the accountant wants it to be. I do not like answers to questions to be complex. This is because 9 times out of 10, it just confuses […]
4 ways you are throwing your money away
Paying bank fees Bank fees are inevitable but why are you throwing money away here? These are charges that slip away from us and the money you spend may be more than you have to pay. If you don’t like the rates you receive – find another bank that suits your pocket. Gone are the […]
Does tech trump ‘old school’ accounting?
Technology is taking the world by storm. Some might say that it is taking over. We can debate that for a fairly long time with little or no winner. In terms of accounting, tax and payroll, the technological advancements have been extreme. But does tech trump “old school” accounting? How tech has changed accounting Accounting: […]
Counting the cost.
Service is “too expensive” The focus of most business owners is the cost of any item or service. There are always ways to cut costs in a business but often the business cuts the wrong costs. The essential services are first to either get cut or not to pay for a service. Countries across the […]
The Company Car
The company car is often an employee’s favourite perk In reality, it is an accountant’s little ticking time bomb A company car is a great perk but the tax that is levied on this perk, is not as simple as many of these employees might think. Travel expense claims and deductions are one of the […]
Time: Where your time goes
I attend various networking meetings and events. I ask business owners if they would like to attend our meetings. Most decline. The most common reason? “I do not have the time”. It is clear that most of them don’t know where their time goes. Say what? I understand that many business owners are busy. Unfortunately, […]
One reason that you WANT to PAY TAX!
Why should I want to? The purpose of a company is to make a profit. Every business owner wants to make a profit. However, when you make a profit, you need to pay taxes. The overwhelming consensus from business owners and individuals is that they don’t want to pay tax. By extension of that thought […]
Physical exercise can be similar to running a business
We all know that regular physical exercise, in fact mental too, is good for you. Yes, you heard correctly. I am saying that training for an athletic event can be compared to running a business. More specifically, a small business of less than 10 people. I am pretty sure it applies to bigger companies too […]
How to make your business more efficient
There is a known fact that if one object is behind another object that is moving, it will not take as much energy to keep up with it. This is most evident in sports. In motor racing, it’s called a slipstream. In cycling, it’s known as drafting. It happens in running and swimming too. Any […]