One of the biggest challenges for a business is managing cash flow in the business. If you ever face a cash flow shortage that means more money is flowing out of the business than flowing in to the business. Therefore, a business should be ready to take necessary steps to avoid any crisis that may...
Read MoreLet’s have some general insights to the Federal Law No. (2) of 2015 on Commercial Companies with regards to the company formation. What is a company? According to the Law a company is a contract whereby two persons or more are obliged to contribute to an economic project aimed to make profit, through providing a...
Read MoreDubai is a world-famous destination for tourism and many people visit Dubai for the sole purpose of Shopping. Were you aware that you could claim refund on Vat paid for purchases you made in UAE? Yes, you heard it right. If you are planning to go to Dubai for shopping, here is good news for...
Read MoreThe International Financial Reporting Standards (IFRS) is an international accounting standard that was developed to make recording and organizing the accounting data of a company easier. IFRS allows for a fair representation of the accounting data of the company and also takes care that the business is compliant with the various rules and regulations of the country....
Read MoreIn UAE, according to the Federal Law No 2 of 2015 on Commercial Companies and the UAE VAT law and relevant free zone laws, it is mandatory for the companies to maintain the books of accounts for at least 5 years. Maintaining proper books of accounts is compulsory in the UAE and any violations will...
Read MoreWe all come into business to earn money. Our primary goal, when starting a business is scaling up and providing job opportunities to the world and fulfill our personal goals yet, if we were to really think about it, we would notice that in reality, it all boils down to money. We work hard, we...
Read MoreAs today, 5th of June, we celebrate the World Environment Day it is important to fulfill our responsibility to the environment as well. So lets get some idea about the Environmentally preferable purchasing as a baby step to be more environmental in our businesses. Environmentally preferable purchasing [EPP] or responsible purchasing is a process which...
Read MoreRisk management is a process in which businesses identify, assess and treat risks that could potentially affect their business operations. Risk management is consisted with the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control future outcomes by acting proactively rather...
Read MoreWe are in a period where sustainability is very crucial to the world. With the covid 19 pandemic everyone is talking about how we should get ahead after this pandemic and we constantly hear the word, ‘new normal”. According to the experts, post-pandemic, we need to build back better, and sustainability will be the key...
Read MoreEvery business is vulnerable to fraud. That’s largely because there are so many different kinds of fraud that you don’t think will take place. Globally, organizations lose an estimated 5% of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners. It’s an employer’s worst nightmare, an employee is dissatisfied with...
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