Accounting involves the application of professional and technical expertise in regular processing, recording, summarizing and reporting of your business transactions to fairly reflect the operating performance and financial position of your company at a specific point in time – thereby allowing the client to have access to useful information for management-, investment and financing decisions.
- Processing of transactions in appropriate accounting software
- Monthly management account reporting
- Compiling annual financial statements
- Budget preparation and cash flow forecasts
- Attending to statutory registration and related financial returns.
- Managing bank accounts
- Managing debtors and age receivables (including following up on debtors)
- Managing creditors and age payables (including payment term negotiations)
- Fixed asset register management and depreciation calculations
- Developing appropriate accounting policies applied over class of transactions and account balances.
Tax is a levy imposed by government on citizens and corporation. In South Africa, tax moneys are collected by the South African Revenue Services and the payment of taxes is legislated in various Acts such as the Income Tax Act, VAT Act, etc. It is imperative that your tax affairs are in order. Evasion and deliberate failure to pay taxes may result in costly penalties. Our tax services and consulting covers calculations, advise, completion- and submission of returns and correspondence with SARS, on the taxpayer’s behalf, on various types of taxes:
- Income tax
- Turnover tax
- SBC tax
- Business (CC / PTY LTD) taxes
- Taxation of Trusts
- PAYE / SDL / UIF (employee taxes)
- Provisional taxes
- Capital Gains Tax
- Value Added Tax
- Estate tax planning
Consultants are generally individuals who possess the necessary technical expertise to provide individuals and business owners valuable financial- and other business advise. Business consultants are generally individuals who completed degrees in accounting- or business related fields and preferably who have completed a professional board exam or evaluation of a professional membership body that entitles the individual to use a professional designation ( e.g. Professional Accountant (SA) and requires the member to maintain updated with latest changes in tax laws and accounting standards through continuous professional development (CPD).
Business consultants analyze financial- and non-financial data, from historical-, current-, and future trends to enable them to make recommendations for improvements on a specific cycle, matter or internal control environment requiring intervention or improvement. For example, a manufacturing company may hire a business consultant to identify an ideal product manufacturing mix based on market trends and to streamline a processing line to result in the best possible financial or profitability outcome. The list of consulting services can be exhaustive based on a client’s specific needs, which may include:
- Business plan preparation for new- or expanding business or department.
- Restructuring of companies
- Analyzing and identifying opportunities for business investments.
- Due diligence on profitability and value of a business in respect of business sales and acquisitions.
- Investment property management.
- Assessment of internal control environment & recommending improvements.
- Assessment of accounting source document design & recommending improvements.
- Negotiations in acquisition and mergers.
- Performance Management Systems- advisory on the development of service delivery and budget implementation plans, key performance indicator development, and annual performance reporting for the public sector.
Accounting officer engagements
Certain types of entities are required, by law, to appoint an accounting officer who is responsible for reporting on certain aspects of the entity’s financial statements, record keeping and / or compliance. For example, a Non-Profit Organization is required to appoint an accounting officer to provide a report in terms of the NPO Act and a Close Corporation is required to appoint an accounting officer to provide a report in terms of the Close Corporations Act. Only certain individuals who is registered with a recognized controlling body (such as the South African Institute of Professional Accountants) are empowered, by law, to be appointed as an accounting officer. The accounting officer’s is required to report on certain financial (and sometimes, non-financial) aspects of a business entity as established by the law (or Act) governing the legal status, incorporation or status of that entity.
Accountant and Accounting Officer engagements provided by FM Accounting includes:
- Accounting officer for a Non-Profit Organisation / NPC
- Accounting officer for a Close Corporation
- Accounting officer for a Trust
- Accounting officer for a School
- Accounting officer for an Insurance Intermediary
- Accounting officer for Credit Providers
- Professional Accounant (SA) for Co-operatives
- Professional Accountant (SA) for Fund-raising organisations
- Professional Accountant (SA) for Regional Industrial Development Program; and
- Professional Accountant (SA) for Private Companies.
About FM Accounting:
Not just ordinary accounting services…
At FM Accounting we believe that our client’s success is our success. Many business owners simply do not have the time to focus on their accounting-, tax-, and financial reporting aspects of their business in an ever-changing tax and financial reporting environment and we understand that appointing a full-time technically competent accountant in a small-to medium sized business to take care of these aspects is simply too expensive… which is why FM Accounting provides clients with specifically tailored packages at cost effective rates, allowing our clients the time to focus on what is important- the growth and profitability of their business in an ever changing economic environment.
We also offer our clients the option to consult with us out of the comfort of their own home through technologically advanced and user-friendly interfaces, such as secure online client portal systems and instant chat communication channels.
FM Accounting is owned, in sole proprietor capacity, by Ian Ferreira-Massyn. Ian completed his BCOM degree in general accounting at the Nelson Mandela Metropolitan University after which he completed his post-graduate bridging in accounting science at the University of South Africa. Ian was employed by a well-known international audit firm from 2010 to 2016, during which time he successfully completed his articles and gained extensive experience in a supervisory capacity in the Audit Department. Ian’s supervisory audit experience includes audits from medium-sized proprietary limited companies up to financial- and performance audits on large government audits such as the Department of Health and the Department of Transport. His main areas of expertise are:
- Accounting, taxation and reporting for Non-Profit Organisations
- Accounting, taxation and reporting for Close corporations and Proprietory Limited Companies
- Service delivery consulting for public (government) entities.
Honesty, Integrity, Continuity, Respect for Individuals
To be the leading firm of Professional Accountants (SA) in South Africa, growing at the success trends of our clients.
To provide our clients with cost-effective accounting, tax- and advisory services and building a long-term positive business relationship.
Email: click here
Tel: 081 041 3419
Office: 378 Cape Road, Fernglen, Port Elizabeth, 6045