Red Flags often ignored by business owners: Business owners make every effort to make their business successful and deliver the desired profit levels. Being overwhelmed with day-to-day activities, business owners often miss out on red flags of underperformance. By identifying the issues earlier, it is easier to implement corrective actions. It becomes increasingly difficult and...
Read MoreDubai Financial Market (DFM) is governed and regulated by the UAE Securities and Commodities Authority (SCA) which has the authority to impose laws and standards which DFM must comply. Two main financial securities exchange markets operate in the UAE under the Securities and Commodities Authority (SCA): Abu Dhabi Securities Exchange Dubai Financial Market Both markets...
Read MoreFederal tax authority has relieved businesses by reducing penalties to facilitate them in filing an accurate tax returns by June 27, 2021. Cabinet Resolution No. (49) of 2021 revises administrative penalties imposed for violations of tax laws. Among the changes to the penalty regime are the following: The late-payment penalty has been revised to be...
Read MoreAccounting Ethics is highly important in business let us understand why. What is the difference between ethics and law? Simply law can be identified as structured set of rules and regulations created by particular authority such as government or an entity to govern the actions and behavior of its members and it can be enforced...
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 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 MoreThe financial strategy of the company requires planning, budgeting and forecasting usage more suitably. While the three terms are inter-linked and emphasizes building a financial road-map for your business, they are not at all the same. Let’s explore what these terms significantly mean with their similarities and differences between them. Strategize the plan The first...
Read MoreIf you want to sell your business or you want some loans from the bank, valuation your business is absolutely important. So, what does a valuation report mean? What are the important contents of a valuation report? What are the methods to evaluate a business? I will try to answer all of these questions below....
Read MoreStarted a new venture? Wondering which accounting software to use? There are definite advantages of using Wave as an accounting software. In this blog I am going to explain the advantages and disadvantages of using Wave as your accounting software. [caption id="attachment_978" align="alignnone" width="240"] Wave as accounting Software[/caption] Wave vs Excel: You...
Read MoreIs your Company Economic Substance compliant? Did you do a Economic Substance test? We would include a list of questionnaire that will help you to understand whether or not your Company falls under the scope of Economic Substance Regulations in the UAE. For further assitance we at Beyond Numbers are happy to help you. First...
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