Johannesburg - A new guide has been
developed to help small and medium businesses prepare financial
statements, the SA Institute of Chartered Accountants (Saica) said on
"This guide is in the form of an
easy-to-use electronic toolkit that comprises a user checklist, an
application guide with practical examples, illustrative financial
statements, and a disclosure checklist," Saica said in a
The guide was intended to assist
"micro-entities" such as close corporations, small or
medium companies, small partnerships and sole-proprietorships.
Saica said the guide would help users
apply standards on the most useful accounting policies permitted,
while avoiding those policies which were unlikely to be of help.
"Basing the guide on an electronic
platform allows the user to easily navigate through the guide by
making use of the in-built search function and allows for live
updates," Saica said.
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