Workers injured at work or who develop workplace-related illnesses have rights under South African law. This article explains how workers’ compensation works, the steps employees should take after an incident, and what employers need to do to comply. A practical example highlights how these processes apply in real life, making it a valuable resource for CIBA members. Read the full article to stay informed.

Management accounts are a powerful tool for guiding businesses toward better decisions and stronger financial health. This article explores how these reports reveal trends, track performance, and highlight opportunities for growth. Learn how to prepare clear, actionable accounts that help your clients manage cash flow, control costs, and plan strategically for the future

The IT industry is reshaping business at a fast pace, and accountants play a vital role in guiding it. From POPIA compliance to managing tricky VAT on digital services, this article looks at the key challenges IT companies face—and how you can help them thrive. Read for practical tips to add value in one of South Africa’s fastest-growing sectors!

Ever thought of specialising in one of the most regulated and rewarding industries? The medical industry comes with unique financial challenges for medical practitioners and accountants alike. In this article we look at the intricacies and considerations when accounting in line with HPCSA regulations, managing taxation pitfalls and safeguarding sensitive patient data. Read on to learn how you can help medical practitioners thrive, stay compliant, and why your role is pivotal in protecting their reputation and practice.

Under the South African Schools Act (SASA), public schools must manage funds transparently, with School Governing Bodies (SGBs) preparing budgets, maintaining records, and ensuring annual financial statements are reviewed or audited. These include income statements, balance sheets, and cash flow reports, supported by documents like asset registers and reconciliations.

Challenges such as limited expertise and resources hinder compliance, but initiatives like SGB training and standardized templates can bridge the gap. Strengthened governance ensures accountability and enhances the educational environment, fostering trust and effective resource use.

Farming isn’t just about fields and livestock—it’s a business full of unique financial and tax challenges. From unpredictable income to the complexities of fair value accounting under IAS 41, farmers face risks that directly impact their bottom line. This article explores how business accountants can step in as vital allies, helping farmers navigate natural disasters, cash flow struggles, and tax compliance while ensuring their businesses thrive.

The construction industry is full of unique challenges—cash flow issues, compliance rules, and tricky accounting for big projects. This article breaks it all down, from VAT and CIDB requirements to managing costs and retention funds. It’s everything you need to know to better serve your clients.

This visual offers a streamlined overview of IAS 37 (Provisions) and IAS 19 (Employee Benefits), focusing on key terms such as Onerous Contracts, Constructive Obligations, Employee Benefits, and Post-Employment Benefits. Designed for finance professionals and students, this clear depiction helps users quickly grasp the foundational elements of each standard, enhancing understanding of how provisions and employee benefit obligations are accounted for under IFRS guidelines.

Cash flow is the heartbeat of every small business. It’s not just about tracking what’s coming in and going out but ensuring there’s enough cash on hand to cover daily needs like rent, supplier payments, and wages. Even a profitable business can struggle if cash isn’t managed well. This article shares practical steps, from setting up a simple cash flow forecast to managing expenses, collecting payments faster, and building a reserve. With real-world tips and a look at how Sarah’s boutique got back on track, you’ll gain easy-to-apply advice to help clients keep their cash flowing smoothly.

Fraud can quietly drain resources and disrupt small businesses, but with a few simple steps, owners can protect themselves. As a BAP(SA) member, you have the tools to help clients create a fraud-resistant environment. This article covers practical tips—like setting up basic checks and balances, encouraging a culture of honesty, using simple technology to track finances, and regularly reviewing for fraud risks. Small businesses don’t need big budgets to make a difference; they just need awareness and a few smart moves to safeguard their hard work.

As the year draws to a close, many businesses face the task of wrapping up their financial year end. In this article, we share easy-to-follow tips to help you, as a BAP(SA), guide your clients through a smooth and stress-free year-end close. Discover practical steps you can take to make sure your clients are ready for the year ahead.

The South African Department of Home Affairs recently launched a points-based system for General Work Visa and Critical Skills Work Visa applications. Effective from 8 October 2024, this system aims to streamline visa processing by reducing documentary requirements and offering a transparent evaluation based on factors like education, work experience, salary, and language skills. With a focus on attracting highly skilled professionals in key industries like technology, healthcare, and engineering, the new system is expected to boost South Africa's economy while making it easier for foreign nationals to contribute to critical sectors.

Leases can be a bit confusing, but understanding the difference between finance and operating leases is key to mastering small business accounting. Whether you're renting or 'owning' your way through a lease, knowing how to recognize and treat them is a game-changer for accurate financials.

Ensuring financial transparency is more critical than ever for accountants. Our guide provides clear, practical steps to confidently verify the accuracy of your financial statements, helping you navigate the process—covering everything from cross-checking prior year figures to confirming balances and ensuring compliance with accounting standards. Following our expert tips to deliver reliable, error-free financial reports that build trust with clients and regulators.

Valuations play a critical role in business, from buying or selling a company to succession planning and resolving disputes. This article breaks down the different types of valuations, the steps involved, and how agreed-upon procedures offer tailored, factual insights without assurance. It's a practical tool for CIBA members to help clients make informed financial decisions.

As a director, understanding how to access funds from your company is key to maintaining smooth operations and personal financial planning. Whether it’s through a salary, loans, or dividends, each option comes with its own benefits and considerations. Explore the best strategies to draw income while keeping your company financially sound. Read on to learn more about which method suits you.

As a CIBA Business Accountant in Practice, you have the power to guide your clients toward financial stability and growth. In our latest article, we break down practical, easy-to-follow steps for helping your clients master budgeting and forecasting—ensuring their businesses thrive. From setting realistic goals to prioritizing expenses and navigating future uncertainties, this guide is your go-to resource for delivering financial insights that matter. Get ready to empower your clients with actionable strategies that lead to long-term success.

Business rescue in South Africa provides a structured process to help companies reorganize their affairs and avoid liquidation. This article explores how the business rescue process works, the role of the Business Rescue Practitioner, and the steps involved in developing a recovery plan. It highlights key benefits such as creditor protection, operational continuation, and the potential for better returns. Understanding business rescue is essential for guiding clients through financial challenges and helping them make informed decisions.

Accountants working with public schools should be aware of the impact brought by the Basic Education Laws Amendment (BELA) Act recently signed into law. The changes include expanding compulsory education and centralising decision-making on admissions and language policies, which will put financial strain on schools. This means increased budgeting pressures, new compliance tasks, and finding creative solutions to meet the new operational demands without additional funding. This article provides crucial insights to help accountants navigate these changes effectively.

Discover the essentials of revenue disclosure under IFRS for SMEs in a simple and engaging way. This article offers practical tips and easy-to-follow examples to help CIBA members ensure clear and transparent financial reporting. Learn how to make your revenue disclosures work for you and build trust with your stakeholders.