The importance of bookkeeping is known to every company. It is the backbone of every financial data, and if this process is not performed correctly, the company may face huge problems in the future. Proper bookkeeping will allow the management to understand the financial health of the company and will also allow the management to […]
Setting up a business can be a monumental thing, but to keep the business alive and functioning can be an altogether different task. To maintain a business and to find out solutions for any problem faced by the business, the management can conduct an audit of the company. The audit is a very important part […]
The most vital thing that a bank or a lender does before granting a loan or handing money to the borrower is evaluating the potential borrower. The bank tries to understand the risk of possible default by the borrower on this line of credit, which is called as credit risk assessment. Credit analysis by a […]
Auditing is a very important part of managing a company. The process of auditing not only helps a business to understand its financial health but also will allow the management to prepare a strategy for the future. Auditing also provides various other benefits to a company such as: Helping understand the Financial Health Maintaining Compliance […]
Do you know that a usual mistake many businesses make? Many businesses address their cash flow challenges too late. What is the danger of addressing late? Failing to react in a timely manner can usher to financial difficulties, and in worse case scenarios, can lead to insolvencies or liquidation. If a business is incompetent to […]
There is an old saying that money attracts money. This means that in order to make more money, a person will have to invest some money. The concept of spending money has been replaced by the concept of Investment. The basic difference between Spending money and Investment is that on investment, you are guaranteed some […]
Keeping a record of all the transactions of the business is very important for the management. For this, many businesses also take the assistance of a professional bookkeeper. A professional bookkeeper will keep all the records of the transaction of the company and will record them in a manner that they can be used easily […]
Every business should follow a steady growth pattern. The growth of the business will help it to expand in more markets and will also provide greater avenues and scope for development. To understand the complete scope of growth, the management should first evaluate the company so that it can prepare a plan which will assist […]
The Government of the United Arab Emirates has recently brought forth the resolution which will help in defining the procedure for the maintaining a real beneficiary. This resolution will be in effect from 27th of October 2020 and according to this resolution it will be required that a businessman or any business entity will reveal all […]
The United Arab Emirates’ Cabinet has as of late distributed Resolution No 58/2020 to control the ‘minimum’ commitments of entities incorporated there – incorporating those in the non-financial free zones. From 27th October onwards, the resolution will require the revelation of information about beneficial owners at the initial registration/incorporation stage. For each situation, the data […]
