The Auditing process is very diverse and requires great caution on the part of the business management. The management has to understand the present requirements of the company and accordingly conduct an audit of the company. There are two different types of Audit to be performed by an auditor. These are: Internal Audit External Audit […]
Do you know that the companies in the UAE can be wound up by voluntary Liquidation? This shall get going as initiated by shareholders or a company’s creditors by passing a valid shareholder’s resolution. When a company’s financial process fails and is in financial distress, i.e., the company becomes insolvent whereby it cannot pay off […]
Every business is set up with the intention to make a profit for its management and shareholders and investors, but during the course of business, the company faces certain problems that create an impediment. This obstruction needs to be resolved so that the business goes back to the profit-making mode and both the management as […]
The Implementation of Value Added Tax (VAT) has been a very important change in the taxation regime of the United Arab Emirates. The recent changes released by the Federal Tax Authority (FTA) has some new clarifications to understand. VAT Updates Public Clarification on VAT registration of Sole Establishments The Federal Tax Authority, UAE, has released […]
The Cabinet Resolution No. 58/2020, on 27th August 2020, on the Regulation of Procedures Related to Real Beneficiaries (“Decision”) was issued, which has presented new record-keeping and disclosure necessities for corporate elements and nominees in the UAE. The targets of the Resolution seem to come from the UAE’s anti-money laundering system. For the most part, […]
If you’ve been controlling your own personal finances for years, how tough can it be to transforming to managing your business’s finances? Finance is finance, right? Not really. Learning the differences between business finance and individual finance and how to manage them accordingly is one of the biggest learning curves for all the business owners. […]
Every business has to deal with taxes at some point in time. There are many complications while dealing with taxes. as the business starts to get traction, it gets more and more profitable which leads to an increase in the size of the company. As the size of the company increases, the management has to […]
There are business opportunities all over the world but every jurisdiction has their own accounting standards and financial reporting standards. This makes it very important for a business management to keep a track of all the different accounting systems. Why do financial reporting practices vary across countries? The Accounting experts have hypothesized various influences on […]
The city of Dubai is considered the poster child of the Middle East. It is one of the most open cities in the middle east and welcomes tourists with open arms. This is the reason people of many ethnicities can be found in Dubai. With different ethnicities present in the city, people from all over […]
A grocery shop keeper started the business with several branches with minimum possible capital. When the business started to prosper, the activities flourished as the Sales doubled, Working capital increased, Statutory regulations strengthened, business locations multiplied, business relations widened. Isn’t his entire business process becoming too complex? We can relate the same to that of […]
