When you have a meeting with your accountant, most of you may have a problem of understanding the accounting language, he/she speaks. They might tell you that your accruals are higher in the last fiscal year. What does he mean by that? If you have the same thought process, fear not, you are not alone...
Read MoreAccounting is a critical factor for the business. Having the touch of IT can enhance the speed and accuracy of computations and enhance its flexibility to change and safe storage of information. Web hosting off-site or called the cloud, is the latest with accounting applications. Let us know more about what Cloud Accounting is, Cloud...
Read MoreHow to Recover VAT on Business Expenses in UAE: VAT applies to business n the UAE provided that certain conditions are met. All business in the UAE will need to record their financial transaction in order to ensure that their financial records are accurate and up to date. Also, they have required keeping into consideration...
Read MoreThe refund scheme for the calendar year started from March 2020, for any foreign business. The foreign company must assess whether they fall under the criteria. If they do, they can submit an application to the FTA on a claim form for any foreign business-related UAE VAT incurred in the relevant periods before the set...
Read MoreAudits are thorough examinations of all books of accounts of a company and are an integral part of every business. Many think of audit performance as an obligation but truly it is more than just an obligation, it helps the business in many ways. Audit adds value to a business in the following ways Improvement...
Read MoreThe current pandemic situation spanning across the whole world has affected many businesses, and each and every company is trying to survive. They are finding cost-effective ways in order to pull through this pandemic. In the midst of this pandemic, professional accountants can help your company survive in the following ways. Develop a back-up plan:...
Read MoreAudit in Dubai is a vital activity of any information security and compliance program and is a valuable tool for effectively and appropriately controlling risk. The auditing firm in Dubai, UAE that we choose will perform objectively and designed to enhance and mature a company’s business. Also, gives an insight into a company’s policies, procedures...
Read MoreValue Added Tax (VAT) is a common indirect tax that is levied by many countries. It is a consumption tax. VAT is levied indirectly on the final consumer for consuming the goods or services. It is meant as target control and it increases in percentage depending on the stage of the goods/production. In the UAE,...
Read MoreDubai based LLC (Limited Liability Companies) should prepare their annual financial statements based on International Financial Reporting Standards (IFRS). Enterprises are expected to prepare and organize an improved audited financial statement each year as per IFRS. In the case of the transitional holding company, consolidation is not necessary. Holding companies prepare their financial statements under...
Read MoreThere are familiar cases of disputes between partners of firms leading to loss. Auditing is a mandatory note with different advantages. Today most firms include auditing in their Partnership deeds. Most partnership businesses are audited taking into account the interests of partners. Disputes between partners of a firm risks the financial investments thereby risking the...
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