These are Financials for Sole Proprietors and Partnerships

• Sole Proprietors - These financials are primarily prepared for SARS tax return purposes and to secure banking or credit facilities.

• Partnerships - These financials are primarily prepared for SARS tax return purposes and to secure banking or credit facilities.

As there is no statutory obligation (eg law passed in South Africa) except SARS requiremnets these financial statements are drawn up on a accrual basis based on Income Tax Income and deductions rules.

However should financials be required based on the IFRS / IRFS on SME's or any other relevant framework.