FINANCIAL ACCOUNTING SERVICES
As a business, Financial Statements, CIPC (Companies and Intellectual Property Commission) and Income Tax, are required to be produced to relevant parties annually.
We accurately compile:
- Monthly management accounts
- Annual financial statements
As a part of our services, as requested, we assist in conducting:
- Financial and project analyses
- Business plans and cash flow forecasts
- Business valuations
- Advice on acquisitions and mergers
- General business advice
Our Accounting team will assist in:
- Preparing Annual Financial Statements
- Filing Income Tax Returns To SARS
- Filing Annual Returns With CIPC
Reasons for completing Annual Accounting Requirements:
- Assess Financial Health
- Keeping Stakeholders Informed
- Make Informed Decisions
- They Are Necessary To Apply For Credit
- Satisfy Legal Obligations
- Compliance Ensures Good Standing With Relevant Statutory Bodies
Included in financial statements are:
Balance Sheet (Statement of Financial Position) – is a snapshot at a point in time of what you own (assets), who you owe (liabilities) and what your business net worth is (equity).
Income Statement (Statement of Comprehensive Income) – is a summary of the trading journey from your opening balance sheet to the closing balance sheet. It summarises how much money you made selling goods/services to clients, the cost of doing so and whether you made a profit or loss.
Statement of Cash Flow – is the story of how you made or lost cash through trading (operating activity), how you financed the business (financing activities) and what assets you invested or disinvested in (investing activities).
Statement of Changes In Equity – is a report of any changes in equity over the year-long period.