Online course: Certificate in IFRS for SMEs™ (CERTIFRSSME™) – 30 CPD points


The programme has been developed by Prof Hentie van Wyk and provides a comprehensive overview of the IFRS for SMEs™ standard and will develop your knowledge in this area. The programme will give you the guidance, knowledge and reassurance you will need to support your employer or clients.

The programme is certificate-level and available worldwide. Accessible online, it is a flexible and self-taught programme, so you can learn at a time convenient for you.

Course objectives

On completion of the CERTIFRSSME™ candidates should be able to:

  • Understand how IFRS for SME™ is used around the world.
  • Examine the fundamental requirements of IFRS for SMEs™ on a standard-by-standard basis.
  • Provide guidance on how to use IFRS for SMEs™ in practice with the aid of questions, case studies and exercises.

Who is it for?

If you are a professional accountant or auditor – qualified in accordance with your national accounting standards – then this course is for you. If you have experience, but no formal qualifications in accounting and auditing, you may still be able to apply for this certificate.

The CERTIFRSSME™ is ideal for:

  • Auditors that need to update their knowledge of IFRS for SMEs™.
  • Audit support staff.
  • Independent Reviewers that performs review enagements in terms of ISRE 2400.
  • Accountants that prepare financial statements in terms of Company law.
  • Members of professional bodies.
  • CFOs

How it works

The CERTIFRSSME™ can be studied distance learning. This means you can fit your studies around your work and social commitments. You can apply online at any time.

When you have paid by credit card, you will get access to a DVD recording and extensive course material covering each aspect of the course. You have three months to complete the online assessment. Typically, a student should take 30 hours to work through the course and write the assessment.

CPD hours are recognised by all relevant professional bodies. The ACCA CPD policy is compliant with IFAC IES standards. Successful completion of the certificate will entitle you to 30 CPD points.

You must pass the one-hour multiple-choice assessment – which is online. The pass mark is 50%. If you fail, you are allowed one attempt to re-sit this assessment. All attempts at the assessment must be within three months of registration. If you fail after two attempts at the assessment, you will need to pay a further registration fee and will be offered another three attempts to pass the assessment.

Click here for more information.


Seminar and webinar: Accounting and reconciliations for Tax Practitioners – 4 CPD hours – Aug 2015


Financial reporting standards governing the preparation of financial statements cater for a wide audience of users including shareholders, creditors and employees. Although financial statements are the primary source of information when preparing a corporate entity’s income tax return, they are not specifically tailored for tax reporting.

Accountants and tax practitioners need to understand the differences between accounting standards and tax legislation to ensure that the entity’s tax liability is determined correctly and to ensure accurate financial reporting of taxation.

When preparing financial statements, accountants also need to prepare certain reconciliations to enable the entity to discharge its burden of proof in terms of section 102 of the Tax Administration Act, 2011. Such reconciliations are especially useful when the entity is required to submit a supplementary declaration (IT14SD).

Course content

The course will cover the following broad areas:

  • Fundamental differences between accounting standards and tax legislation
  • Essential tax reconciliations for tax practitioners and accountants
  • Accounting for taxation (IAS 12)

Who should attend?

Tax practitioners, accountants, bookkeepers and financial managers.

Continuing Professional Development (CPD)

This event and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units for members of professional bodies like SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC and AAT.


OPTION 1 – Seminar

  • 2015 CPD subscribers: Free (use your promo code when registering for this event)
  • SAIT members: R 885.00
  • Non-members: R 985.00

OPTION 2 – Dedicated webinar broadcast

  • 2015 CPD subscribers: Free (use your promo code when registering for this event)
  • SAIT members: R 370.00
  • Non-members: R 450.00

OPTION 3 – DVD and electronic course notes

This CPD event will be recorded and available to purchase on DVD from 28 August 2015.

  • SAIT members: R 595.00
  • Non-members: R 650.00

Click here to purchase the DVD.

When and where

All seminars will run from 09h00 to 13h00.

  • 11 August 2015 – Roodepoort
  • 12 August 2015 – Boksburg
  • 13 August 2015 – Pretoria
  • 14 August 2015 – Polokwane
  • 17 August 2015 – Online webinar
  • 18 August 2015 – Johannesburg
  • 19 August 2015 – Durban
  • 20 August 2015 – Cape Town
  • 21 August 2015 – Port Elizabeth

Click here for more information and registration.


Betty Bookkeeper explains how to allocate a monthly gym fee for a member of a Close Corporation – Jun 2015

Hi Betty 

Please explain how a member of a Close Corporation’s monthly gym fee be treated when captured in the cashbook?

I was asked to take it to expense account Staff Welfare? I don’t think this is correct, please advise?


Hi Yashik

You are right, for income tax purposes that is not correct. If the CC pays the fees on behalf of the member, then one of the following approaches should be taken:

  • This should be allocated to the member’s loan account; or
  • This should be allocated to the member’s remuneration, and treated as a fringe benefit on his payslip and IRP5 – code 3808: payment of a debt on behalf of an employee.

Hope that helps!

Don’t forget that I’m here to answer your questions about the ICBA, or just queries about your accounting at work. All you have to do is email me!

Exemptions for banks on money transfers published

Article source: Fin24 

People no longer need to provide their income tax number or residential address when sending less than R 10,000 per month out of South Africa, according to a notice published in the Government Gazette on Friday.

The exemption applies to banks, mutual banks, the Postbank, the Ithala Development Finance Corporation and “a person who carries on the business of a money remitter”.

It involves “single transactions” of less than R 3,000 per day or R 10,000 per month being sent out of the country, and applies to South Africans and foreign nationals.

The institutions however still needed to verify, and customers had to provide their names, date of birth, and ID number.

This was according to an exemption, signed by Finance Minister Nhlanhla Nene, to sections of the Financial Intelligence Centre Act of 2001, and the Money Laundering and Terrorist Financing Control Regulations of 2002.

The affected institutions still had to apply “enhanced measures”, in addition to normal procedures, to scrutinise transactions and identify and report those that were suspicious.

The exemptions come into effect on 1 July.


The 20 most desirable jobs in global finance

Article source: eFinancialCareers 

You want to work in investment banking, hedge funds, or private equity globally. But you don’t want just any job. You want the sort of high paying, high prestige, highly interesting job that will put you on the path to a fulfilling career and financially bountiful future. Bad luck; so does everyone.

We’ve looked at the most desirable finance jobs on eFinancialCareers now. Using the number of applications as a proxy for desirability, we can say that these are the most highly sought after jobs across the eFinancialCareers global network – and by implication across the whole of global finance.

We’ve ranked the top jobs below by the number of applications they attracted. The jobs at the top of the list had 800+ people putting themselves forward.

1. An accountant with a tax free salary in Dubai

It’s not a trader with a top hedge fund. Nor is it a principal with a top private equity fund. The most desired job on eFinancialCareers currently is a senior accounting role which comes with a tax-free salary in Dubai.

2. An analyst in a hedge fund in London

‘One of the largest global hedge funds’ is looking for an analyst to join in a ‘financial modelling role’ in London. Applications have been huge.

3. An analyst in IBD at a top US investment bank

One of the preeminent US investment banks was looking for someone to work as an analyst in its corporate and investment bank. The job is no longer live, but applications were massive.

4. A teller

Sometimes, the hardest jobs to get are those open to the greatest number of people. A job for a customer service-oriented teller who is proficient in ‘lobby management’ attracted a vast number of applications.

5. An associate in IBD in Milan

Investment bankers in London may earn than their counterparts in Europe, but this doesn’t mean that local investment banking jobs aren’t popular – especially among young bankers in London who want go back home. A major US investment bank is looking for an associate for its Italy-based corporate finance team. Applications have exceeded 600.

6. A junior investment banker at a boutique firm in New York

A New York-based boutique is looking for an ex-management consultant or accountant who wants to become a banker. Hundreds of people are interested.

7. A private equity associate in the US

Ask a young investment banker what he/she wants to do in five years time and they will almost always say private equity. This is probably why a vacancy for an associate at a private equity fund attracted hundreds of applications (it’s now been filled).

8. A personal assistant at a major international bank

Again, it’s not always the most aspirational jobs that attract the most interest. We saw hundreds of applications for a PA role which included ‘taking personal calls and dictation.’ The role has now been filled.

9. A junior oil and gas trader in London

It’s been a tough year for commodities traders, but this didn’t dissuade hundreds of people from applying for junior trading roles at a commodities investment management firm in London.

10. An analyst in a private wealth management firm that is more than a family office…

If it’s not hedge funds and private equity, family offices are seen as one of the most desirable investment banking exit options. This might be why one private wealth management firm which describes itself as independently owned and neither an investment bank nor a family office attracted hundreds of applications for an graduateanalyst role in its consulting team.

11. A regional finance manager in an oil company

Accounting jobs attract more applications from finance professionals than you might expect. An international oil exploration and production company was looking for a regional finance manager. Applications were in their hundreds.

12. An associate analyst with a ratings agency

Do you want to provide, ‘analytical, statistical and research assistance to Analysts in the Banking team, covering Financial Institutions in emerging markets in EMEA’ at a top ratings agency? If so, you are not alone. Hundreds of people applied for a similar role.

13. A group finance director in a mining company based in Dubai

As with oil corporates, so with mining companies. A mining company based in Dubai is offering an ‘excellent tax free package’ to a senior finance director with at least 15 years’ experience. There have been more than 300 applications.

14. A junior operations analyst in a hedge fund

It’s not just trading jobs that are popular in hedge funds. A London-based hedge fund has been looking for an operations analyst to report daily P&L, reconcile net asset values, and ensure trade capture systems are up to date. Hundreds of people thought the job was for them.

15. A European equities portfolio manager

One European fund management firm has been looking to fill a specific role – equities manager on its financial institutions team. Candidates needed to have 3 to 12 years’ experience on the buyside (although ‘exceptional’ individuals from banks would be considered). Applications numbered in the several hundreds.

16. An anti-money laundering analyst in Dubai

AML is suddenly a) hot and b) rewarding. This might be why hundreds of people applied for a mid-ranking AML job (two to three years’ experience) at an investment bank in Dubai.

17. An investment analyst in Asia

An alternative investment management firm in Asia has been looking for an analyst to evaluate a ‘range of alternative investment strategies’ involving listed and unlisted companies. Mandarin speakers were preferred.

18. A junior execution trader for an agency boutique in London

Execution trading has a reputation as a comparatively well paid but relatively unstrenuous job. This might be why an execution related role at a London agency trading firm has proven very popular.

19. An analyst in IBD at an independent investment bank

A leading independent investment bank is looking for a non-sector focused investment banking analyst with around 24 months experience. There have been over 320 applications so far.

20. A trader’s assistant at a London-based hedge fund

Historically, being a trader’s assistant was a route to become a trader. This might be why a role for a trading assistant to work with the lead portfolio manager at an expanding hedge fund proved so popular….


Webinar: Holistic risk management for accountants – 2 CPD hours – 8 Jul 2015


Risk management is becoming an integral part of many larger businesses today. Yet, the question that needs to be asked is, “are we working with it effectively to ensure the ongoing transition and growth of business in line with environmental changes of all forms?”

This 2-hour webinar will look at how to ensure effective risk management, including how to:

  • Streamline the process.
  • Allow the core risks of a business to surface from within divisions in their various forms.
  • Identify and consolidate those risks that are ‘one’ (group the symptomatic risks that are in essence of one cause).
  • Deal with the core risks at a strategic level on a preventative basis, enabling this to flow back into operations.
  • Facilitate an environment that acknowledges value (not weakness) in divisional risk identification.
  • Make risk management a happy and fertile space that can contribute meaningfully to value creation.
  • Incorporate the human resource risk businesses face into your risk management strategy.

Continuing Professional Development (CPD)

Attendance of this seminar will accrue 2 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CSSA, ICBA, LSSA, FPI, and the IBA.


  • SAAA members: R 299.00
  • Non-members: R 399.00

When and where

  • 08 July 2015
  • 14h00 – 16h00
  • Online webinar

Click here for more information and registration.


Webinar: Individual Income Tax – 2 CPD hours – 24 Jun 2015

Presented by SARS


With the opening of the tax season for individuals and trusts just around the corner, this webinar on individual income tax is certainly one not to be missed.

Continuing Professional Development (CPD) 

Webinar participation and completion of the online assessment will secure 2 hours verifiable output CPD.


Free for SARS-registered tax practitioners and SAIT members.

When and where

  • 24 June 2015
  • Online webinar

The same content will be covered in two separate sessions:


Webinar: Tax consequences of barter transactions and debit loans – 2 CPD hours – 22 Jun 2015


The following topics will be discussed:

1. A brief reminder of what is new in the tax field

  • Here we will cover recent regulations and other notices issued by SARS. The constitutional court recently considered this in the in duplum rule in Paulsen and another vs Slip Knot Investments. Does it apply to a tax debt?

2. The tax consequences of barter transactions

  • The recent South Atlantic Jazz Festival tax case will be used to set the context. Whilst the focus would be on the Value-added Tax aspect some of the basic principles of gross income and deductions will also be covered.

3. Debit loans

  • In tax case 13 512 the taxpayer convinced the court that the debit loans were not subject to the secondary tax on companies. We will revisit the dividends tax consequences of debit loans in order to understand if this decision has any impact on the deemed dividend subject to the dividends tax.

Continuing Professional Development (CPD)

This webinar and successful completion of the online assessment will secure 2 hours verifiable output tax CPD points/units for members of professional bodies like AICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT.


  • 2015 CPD subscribers: Free (use your promo code when registering for this event)
  • SAIT members: R 370.00
  • Non-members: R 450.00

When and where

  • 22 June 2015
  • From 15h00 until 17h00
  • Online webinar

Click here for more information and registration.


Webinar series: Basic transfer pricing in Africa – 12 CPD hours – Jun to Nov 2015


Participate in a series of six 2-hour webinars, conducted on a monthly basis from June to November 2015. The six webinars will cover the topics which are normally presented by Africa Transfer Pricing (Pty) Ltd’s full day workshops, and include additional practical case studies.

Continuing Professional Development (CPD)

This event and successful completion of the online assessment will secure 12 hours verifiable output TAXCPD points/units.


  • Members and non-members: R 2,700 for the series of 6 webinars

Receive a 10% discount if you register before 16 June 2015.

Dates, times and topics

All webinars will run from 15h00 to 17h00.

18 June

  • Background and development of SA transfer pricing rules.
  • Previous versus new transfer pricing legislation and application thereof.
  • Examples of transactions that would be subject to transfer pricing.
  • Basic format of transfer pricing documentation.

16 July

  • Background of transfer pricing methods.
  • Application of methods to transaction that are subject to transfer pricing when preparing transfer pricing documentation.

13 August

  • Discussion of inter group services transactions.
  • Treatment of start-up companies.
  • Practical application of new thin capitalization rules.
  • Treatment of intellectual property.

17 September

  • Discussion of economic analysis in a transfer pricing report, including database benchmarking studies, selection of acceptable CUPs and other arm’s length support, where available.

15 October

  • Transfer pricing in Africa.
  • Overview of transfer pricing in the main African jurisdictions.

12 November

  • Discussion of OECD Base Erosion and Profit Shifting (“BEPS”) project relating to transfer pricing.

Click here for more information and registration.


SAPA Conference: Waves of Change, Oceans of Possibilities – Aug 2015

The Directors of the South African Payroll Association are excited to announce the SAPA Conference 2015, scheduled for 5 to 6 August 2015 at Emperors Palace in Johannesburg. 

The journey of payroll and much more will be under the spotlight at this year’s conference.

Registration fees

Before 30 June 2015:

  • Members = R 3,700
  • Non-members = R 5,300

After 30 June 2015:

  • Members = R 4,900
  • Non-members = R 6,200

Team special

When registering five or more delegates from the same company, you qualify for a 10% discount:

Before 30 June 2015

  • Members: R 3,330
  • Non-members = R 4,770

After 30 June 2015

  • Members = R 4,410
  • Non-members = R 5,580

Each registered conference delegate will receive a free ticket to the SAPA Awards Dinner.

Click here for more information and registration.