Finance Archives - Page 2 of 3 - Consumo Publishers

How Accountants Can Help Improve Business Performance

September 12, 2017

This article tries to draw attention to the role that accountants could play as business advisors within your business. Historically, accountants occupied the position of “bean-counters,” which essentially focused on what happened in the past, not on what the future of the business holds.

This has changed, and it’s important to understand the dynamics of how it works in today’s business context.

While there is a great deal of value that comes from applying accounting expertise to the historical viewpoint, such as that which comes with preparing tax returns and historical financial statements, it is clear that accountants can bring to the table a set of unique skills that go beyond simply working with historical numbers.

Aside from working with past data, accountants also possess skills that are exceptionally well-suited for analyzing what can be coming down the road in terms of financial activity in the future. In fact, it has […]

Estie2017-12-14T08:54:48+02:00December 14th, 2017|Finance, Performance of the business, Recources, Syllabus Topics|

Lack of information remains reason many SA companies are failing

Friday 29 September 2017

Amina Accram

The Trade and Industry Department (DTI) through its Trade Invest Africa this week hosted a conference with the World Bank and businesses to see how South Africa could take advantage of funds available through the bank. (SABC)

Lack of information remains one of the key reasons many South African companies are failing to secure business opportunities with the World Bank in developing country markets. This is compared to their Asian, European, Australian and US counterparts.

The Trade and Industry Department (DTI) through its Trade Invest Africa this week hosted a conference with the World Bank and businesses to see how South Africa could take advantage of funds available through the bank.

Credit card fraud – 10 tips to protect against it

14 September 2017 Vicky Sadler

Credit cards have made payments quick, easy, and convenient, and they can be used to make online purchases, pay for parking, and much more.

Nevertheless, it has also become riskier these days as attackers can gain your identity and credit or debit card information to make purchases.

Being proactive to secure your credit and debit cards is, therefore, critical.

Here are 10 important tips to consider when using your credit card.

Sign your card as soon as you receive it

Many people forget to sign the back of their credit or debit cards, but many merchants do match signatures when processing transactions at retail stores.

Review your account statements on a timely basis

You should always check your receipts against your statements every week to ensure that you have not been overcharged or that your refund has been paid […]

Estie2017-09-30T11:09:40+02:00September 30th, 2017|Finance, Recources|

Financial Habits for Successful People

When it comes to your finances, it is very important to build good habits that help you achieve your goals and keep your financial state stable. You should always be informed on the current state of your finances and that of the world around you (fluctuations of prices, taxes, wages, etc.). Here are some good financial habits to develop that will keep your finances sorted:

1 Always have a clear idea of the state of your income – where your income comes from and how much you make. Whether you rely solely on your job or you earn money from investing in shares, you should always know exactly how much you are making and what you use it for.

2 Set aside for all types of expenses – organize your finances and make sure you know how much you need to spend on daily and monthly expenses. There will always be unexpected expenses you […]

Estie2017-09-30T10:50:00+02:00September 30th, 2017|Finance, Recources, Syllabus Topics|

Five steps to cracking cashflow

10 July 2017 | BY: RICHARD MUKHEIBIR
Cashflow is one of the cornerstones of your business because if you can’t get it right, your business will crumble.

In theory, cashflow is pretty simple. Cash flows in and out of business. If you’ve got more coming in than going out, your cashflow is positive. If it’s the other way round, your cashflow is negative – and you’re heading for some crunch.

1. Know your cashflow
It is possible to have negative cashflow but still be profitable.

How much you would need to save every month to retire a millionaire in South Africa

20 February 2017

One of the biggest concerns facing South African households today is saving up enough money for retirement. While we tend to contribute towards a retirement annuity and/or pension plan every month, it can often fall to the back of our minds before becoming a serious factor as we near retirement age.

With South Africans now living longer it has also become harder to determine “how much is enough” to retire. With that in mind, BusinessTech approached several prominent financial analysts to determine how much we would need to save – at various ages – to retire a millionaire at 65 in South Africa.

The calculations specifically focus on savings, as it can be an immensely difficult task to calculate RAs and pension plans due to their personalised and complex nature. The calculations are also not intended to act as financial advice, but rather to illustrate the importance of saving as […]

Estie2017-07-27T14:25:12+02:00July 27th, 2017|Finance, Investment and insurance, Recources, Syllabus Topics|

How much money South Africans save each month based on their earnings

25 July 2017

A report from Old Mutual shows how much money South African households are managing to put away each month under a very stretched economy.

Overall consumer debt is growing, and the fact that ratings agency S&P flagged it as a major risk to the country’s banking sector should act as a wake up call for consumers and banks, said Neil Roets, CEO of debt counselling company, Debt Rescue.

Roets said there had been a noticeable increase in the number of distressed consumers who have come for assistance in servicing their growing debt load. “We know that debt levels are escalating because we see this on the balance sheets of indebted consumers coming to us to be placed under legislative debt review. “Many of them are on the verge of bankruptcy and the only way they can hold on to their belongings and pay off their mounting debts over a longer […]

Estie2017-07-27T14:21:35+02:00July 27th, 2017|Finance, Recources, Syllabus Topics|

Here’s What The Surprise Interest Rate Cut May Mean For You

20/07/2017

Queenin Masuabi News Reporter

South Africa’s Finance Minister Malusi Gigaba.

A cut in interest rates appears to have taken economists by surprise. This comes after an announcement by South African Reserve Bank governor Lesetja Kganyago that the repo rate would be reduced to 6.75 percent from 7 percent. This is the first time in five years that the bank has cut interest rates.

Economist from KADD Capital, Elize Kruger, said the interest rate cut was unexpected. “We were expecting the cut in September” she said. Kruger said it was also surprising at a time when the South African economy is dipping. “They decided to do this independent of other factors and this could help the economy and boost confidence,” she added.

KPMG economist Christie Viljoen also said the repo rate cut was unexpected. “In the past, the reserve bank said they can’t lower interest rates because of high risk, this means the risk is […]

Estie2017-07-27T14:14:50+02:00July 27th, 2017|Finance, Recources, Syllabus Topics|

Despite long periods of positive economic growth, unemployment remains one of the key challenges faced by South Africa.

25/07/2017
Zimkhitha Mvandaba Blogs Editor, HuffPost South Africa

South Africa’s unemployment remains a major concern and our economy has taken more than just a few knocks this year. South Africa was downgraded to sub-investment grade, or junk status, following the shock executive reshuffle by President Jacob Zuma. This move invariably led to less money for critical services such as housing, education and sanitation.

Despite long periods of positive economic growth, unemployment remains one of the key challenges faced by South Africa. StatsSA will be publishing the second quarter rate in the Quarterly Labour Force Survey on Tuesday, and data on producer inflation. It will be interesting to see how we fair as a country and to ascertain what can be done to ensure that our unemployment reading does not nosedive into further decline. Here are a few things to keep in mind.

1. Technical recession
SA officially entered a technical recession after our gross domestic […]

Estie2017-07-27T14:13:42+02:00July 27th, 2017|Environments, Finance, Recources, Syllabus Topics|

Are Millenials Saving Or Splurging?

We interview young South Africans about their attitudes towards cash.
20/07/2017
Millionaire Tim Gurner made headlines earlier this year for advising millenials to stop splurging on avocado toast in order to save for a home. Many of the stereotypes associated with young people point to a lack of fiscal responsibility and a love for spending, shopping and splurging. We spoke to five millenials to discover how they feel about savings, and those money stereotypes.

I Save Where I Can
I do save where I can, but most of this year I haven’t been able to save. I don’t think I earn enough to save money. When I think about the advice that we shouldn’t be buying avos, and rather buying houses, I think it’s ridiculous. To come out of varsity and burden yourself with a home loan, while you’re still trying to find your feet – it’s ridiculous. A lot of people want to […]

Estie2017-07-27T14:09:07+02:00July 27th, 2017|Finance, Recources, Syllabus Topics|