Section 19 of the FAIS Act and the relevant submissions to the FSB

Section 19 of the FAIS Act states that financial statements must be submitted by all Authorised Financial Service Providers to the registrar, not later than four months after the end of the provider’s financial year end. If your business’ financial year end is 28 February, this deadline is 30 June 2017. Categories of FSP’ and type of financial statements to […]

Technology and accounting systems

For a long time, the popular perception of accountants has been that they’re number-crunching, bean-counting robots – there to perform a function and undertake a task, not to provide insights or counsel to the business. Their duties are process-based: they review, rather than analyse; they compute rather than contemplate; and because of these tendencies, they are essentially interchangeable. This perception […]

Inventory control: Saving your business money

What is Inventory control Inventory control is the process whereby management ensures that inventory on hand is kept safe and in such a manner that it would enhance the entity’s cash flow. Why is inventory control important Management must understand what inventory they have, where it is kept and how and when inventory is moved both in and out. Doing […]

MMS is growing! New office opening in Cape town

We are opening a new MMS office in Bellville, Cape Town, which will be under the reins of Dirk Bester and Reinier Duraan. Together, Dirk and Reinier have more than 10 years of experience in the industry and are both registered as Chartered Accountants. In 2014, Dirk and Reinier founded SumTotal, a boutique auditing, accounting, tax and management consulting company, […]