Cyber Monday Discount Special
Get all your online CPD and Compliance Training through through SA Accounting Academy!
Hurry, offer valid 27 November 2017 only!
5 Ways To Remain ‘Current’ In Your Field
Staying current with regards to market trends, industry knowledge and new skills is vital for securing your job or re-entering the marketplace, but it can equally help to advance your career and earning potential.
Remaining current and in touch with changes within your field is imperative and will certainly give you the competitive edge, whether you are a working mother or a stay-at-home mom wanting to return to the marketplace. For anyone walking the tightrope between work and family balance, however, finding additional time to remain up to speed can be a challenge. The process does not have to be difficult though; we show you simple steps that are easy to implement.
1. Networking
Most of us have an incredible network of friends, family, colleagues, associates, alumni – past and present – who can assist. It’s simply a matter of harnessing this network in a targeted manner.
2. Professional associations, industry bodies, and publications
If you belong to one professional organisations, be sure to utilise the opportunities that are available. Attend functions and seminars, read the available literature, network amongst the members and keep your membership fees up to date. If you are not yet a member then look into becoming one; it could really be worthwhile. Be sure to subscribe to the many online newsletters available through these organisations. At the same time, widen your knowledge by remaining current with daily newspapers and business news on the various TV channels.
3. The internet and social media
The online world is a goldmine! Tap into online forums for industry-specific groups and skills sets; peruse the many free online courses in a wide variety of subjects. Be savvy about social media and use it to curate your professional image. Like and follow relevant Facebook pages and expand your LinkedIn network. Follow spokespeople within your industry or skill set on social media platforms such as Twitter and LinkedIn.
4. Find a mentor
If you are privileged to find one, having a mentor to guide and assist you in your journey is a great way to ensure that you are always up to speed on what is happening with regards your skills and industry knowledge.
5. Personal presentation
Often an overlooked aspect of staying current is your personal presentation. Looking the part always plays an important role in how you are viewed. If your old wardrobe staples, your hairstyle or makeup are dating you, look around at your associates and adapt your style.
Article originally posted on https://www.recruitmymom.co.za/
EXCLUSIVE BLACK FRIDAY OFFER
Get 50% Discount on your 2018 CPD Training through SA Accounting Academy!
Hurry, offer valid 24 November 2017 only!
Betty Bookkeeper answers your questions on becoming a partner in a firm
Hi Betty
I was wondering if you would be able to assist me with more information regarding what I need in order to buy into a partnership of an accounting firm.
What qualifications and accounting institutes do I have to sign up for in order for me to buy shares in the partnership of the firm.
Regards,
Amanda
Hi Amanda
If the practice is a firm of registered auditors, you will need to be a qualified Chartered Accountant – registered with SAICA, and a registered auditor- registered with the IRBA.
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 with a copy of your ICBA membership certificate. Not yet a member? Send in your application form!
Independent Review – working papers to avoid KPMG mistakes
The KPMG Gupta scandal has revealed the serious engagement risk faced by accounting firms. A lack of engagement quality control and failure to do proper client acceptance procedures has cost KPMG a number of clients and huge public embarrassment.
Nicolaas van Wyk, CEO of the Southern African Institute for Business Accountants (SAIBA), is presenting a course th
is month where he applies the recent KPMG case study to Independent Review Engagements and the working papers that should be prepared in line with the relevant standards and legislation.
Each delegate will receive free access to Independent Review Working Papers and a template quality control manual.
At the end of the seminar, delegates will be able to understand the key requirements of the professional standards, apply the standards to each phase of the engagement, have practical tools to assist in such engagements, know how to make engagements more effective and efficient and understand the link between risks, controls and engagement approach.
Course content will include the purpose of engagement working papers, overview of the review standard, working papers linked to each section of the standard, analysis of KPMG as a case study to identify short comings, the five key working papers that will keep you out of jail, choice of reporting standards and which report to use and when, IFRS, IFRS for SMEs or entity specific framework, using the PI Score to determine the engagement type, critical information that must disclosed on the first page of financial statements, who is responsible and liable for misstatements in the financial statements, which standards to use when performing accounting officer, independent review or compilation engagements, when are financial statements fairly presented and what happens if they are not, new technologies to enhance your workflow, what to do as independent reviewer when your client doesn’t pay his tax, recapping independent review duties – what should you do, what should you not do, lead schedules and checklists to use, engagement letters and type of reports to issue, documenting assurance engagements, general principles of proper documentation for an engagement and consolidate learning by working through a case study.
Courses will be presented in Pretoria, Polokwane, Bellville and Bloemfontein, as well as an online webinar.
For more information and to register, visit the SA Accounting Academy’s website here.
Betty Bookkeeper answers your question on charging Vat on travel costs
Hi Betty
Can Vat be charged to customers if we are billing them for Kilometers?
We are not charging them for fuel, just the km as part of the service.
Regards,
Nadine
Hi Nadine
If you are recovering travel costs incurred as part of services rendered to the client then yes, you will be required to charge VAT on the recovery.
Please refer to the below link.
http://www.thesait.org.za/news/252554/VAT-and-the-recovery-of-costs-.htm
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 with a copy of your ICBA membership certificate. Not yet a member? Send in your application form!