by Amogelang Nawa | Mar 19, 2020 | Gamers Reflections
Madimetja: “annual financial statements do not only consist of the income statement and balance sheet but there is the (1) cashflow statement, (2) statement of changes in equity (3) Notes to the financial statements. Sipho: ” yoh I need to attend the next...
by Amogelang Nawa | Mar 19, 2020 | Gamers Reflections
Sipho called Madimetja to find out whether he had a chance to look at his financials. Spho: ‘Hello Madimetja, I prepared financials, did you see my email?’ Madimetja:’oh yes I did, the financials look good however I see that you only prepared the...
by Amogelang Nawa | Mar 17, 2020 | Gamers Reflections
Sipho prepared the financials on excel relying on the little he can remember about which transactions are relating to the business.He completed the financials consisting of the income statement and balance sheet and sent them to Madimetja for review.Gamer, do you...
by Amogelang Nawa | Mar 12, 2020 | Gamers Reflections
Other reasons for separating personal affairs from that of the company:- so that only allowable expenses are claimed for income tax expenses (it is fraudulent and a criminal offense to claim personal expenses) – to measure the financial performance and...
by Amogelang Nawa | Mar 8, 2020 | Gamers Reflections
It is imperative that you maintain a separate bank account exclusively for your company. The business and yourself are two separate persons and the financial affairs of the two should not be mixed up. Mixing personal and business financial affairs makes...
by Amogelang Nawa | Mar 6, 2020 | Gamers Reflections
Sipho is examining his bank statements and realised the mess he has created. He used his personal bank account to do business, personal and business income and expenses are mixed up and it’s difficult to identify business transactions so that he can...
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