Efficiency increases profitability

Efficiency increases profitability

The political and macroeconomic environment that has prevailed in Zimbabwe and probably other countries across the world has led many organizations and entrepreneurs to shift blame for their poor business performance to politicians. If one looks at the level of...
Capital Gains Tax – How It Works

Capital Gains Tax – How It Works

What is Capital Gains Tax? Capital Gains Tax (CGT) is a tax levied on the capital gain arising from the disposal of a specified asset. Specified asset means immovable property (e.g. land and buildings) and any marketable security (e.g. debentures, shares, unit trusts,...
Financial literacy matters more than politics

Financial literacy matters more than politics

Politics has played a major role in shaping the global economy to the extent that many people believe that their financial success in life is dependent on which political formation is in government at a particular time. While this fact can be true to some extent there...
The Purpose Of A Tax Invoice

The Purpose Of A Tax Invoice

  Value Added Tax (VAT) is invoice based and is accounted for on invoices generated on both cash and credit sales. The VAT payable is the difference between output tax and input tax. Output tax is the tax charged on supplies made while input tax is the tax...
Why Small Businesses Fail

Why Small Businesses Fail

  All businesses start as small businesses and gradually grow until they become large corporations with branches all over the world. Only 5% of the businesses actually grow to become large corporations. In this article l will look at the reasons why small...
Value Added Tax – How does it work?

Value Added Tax – How does it work?

  1. What is VAT? Value Added Tax (VAT) is an indirect tax on consumption, charged on the supply of taxable goods and services. It is levied on transactions rather than directly on income or profit, and is also levied on the importation of goods and services....
Successfully Manage Your Cash Flow

Successfully Manage Your Cash Flow

Staying in the black is one of the keys to business success. Try these 7 tips to successfully manage your cash flow. Knowing your customer   Check out the exact name and legal status of the business you are supplying. If it’s a sole trader (Private Business...
Internal Control Procedures in Accounting

Internal Control Procedures in Accounting

The purpose of any internal control procedure is to provide reasonable assurance that the organisation can meet its objectives. The Turnbull Report defined internal control and its scope as follows: ‘The policies, processes, tasks, behaviours and other aspects of an...
Private Business Corporation

Private Business Corporation

When one decides to register a company there are two types of companies that are commonly used in business particularly in Zimbabwe namely a private limited company and a private business corporation. In this article l will talk about a private business corporation....
Bad Debts and Income Tax

Bad Debts and Income Tax

Bad debts arise when customers who buy on credit fail to pay the debt and this triggers the trader to claim a deduction against their income for Income Tax purposes. The debt that is allowable as a deduction is that debt which the trader proves to be irrecoverable....