Value Added Tax or VAT was introduced in UAE on 1st January 2018 with the aim acquiring a new source of income which would help the government in the achievement of its vision of reducing the dependence on oil and other hydrocarbons as a source of revenue. The VAT is considered as a general consumption tax […]
Value Added Tax (VAT), at the rate of 5%, was introduced in the UAE from 2018. According to the Federal Tax Authority (FTA) and the Dubai Land Department (DLD), VAT should have only a negligible impact on the real estate in the UAE, since about 85% of the components in the real estate sector are […]
Internal audit is a formal inspection of a company’s internal controls, like accounting and corporate governance, with the aim of proposing improvements in the system and spotting any inadequacies before they are discovered in an external audit. Its role is to verify and ascertain that one or more functions of an organization are operating effectively, […]
As a small or medium-sized business (SMB), it might seem convenient to the management to do away with the accounting function entirely. While the management may consider it to be a move which will help manage the costs of the business and it will also provide the time to figure out as the future path […]
An escrow account is a legal account in which an asset or a financial instrument is held by a third party – an individual or entity – on behalf of two other parties that are in the process of completing a business transaction. The escrow agent holds the fund or assets until the final obligation […]
In the modern business world, every organization faces risks; without risk there is no growth or reward. Risk management is the process of recognizing risks in advance and includes analyzing and taking precautionary steps to reduce the risk. In the financial world, risk management involves identifying and analyzing the risks in financial instruments before any […]
The effect of the recent technological advancements can be seen everywhere. The use of technology is increasing in all the parts of your life, be it entertainment, transactions or business. Even in the field of accounting and advisory services, companies now have accounting software which is very easy to operate and can interlink all systems […]
Retirement, a phase that every individual has to face and also wants to secure at the same time, is not limited only to financial safety and security. It is a phase where an individual gets another chance to fulfil one’s unmet needs and desires. Whenever we hear the word ‘retirement’, it presents a picture wherein […]
Whether upcoming companies or already establish one, all companies require accounting services, especially in a place like Dubai. Considered as the financial hub and one of the most vibrant cities in the Middle-East, it has witnessed an influx of finance companies in UAE causing a greater need for accounting & financial services in the area. […]
Just like the accounting or VAT serves to be the strongest pillars that hold an organisation, Audit too plays a crucial role that goes beyond just numbers and statements. It analyzes the loopholes of business and fixes it. Regarding financial audit, it dives into the financial department and gives a clarity regarding the company’s financial […]
