The management is in a constant state of trying to increase its profitability, which will, in turn, the company’s value. The first step in expanding the company’s value is finding out the company’s present value. Without knowing where to begin, it is hard for the management actually to achieve all the goals. Knowing your business’s […]
Difference between Financial Control Audit and Financial Statement Audit
Finance is looked upon as the lifeblood of any company, and to have control over the finances of a company will be a boon for any management. In the current business, environment businesses are looking to cut short their expenses and are using various methods to do so. These methods include downsizing of the workers, […]
Accounting Structure for a Small Business
Are you planning to start a small business in Dubai? If you are ready to launch your new business in Dubai, Congratulations! As you know, launching a business is a constant flood of satisfying milestones and increasing to-do lists. With your business launch, you’ll require to get on top of the accounting tasks that come […]
How Auditors in UAE Can Monitor Financial Growth of Your Company
It is the duty of the management of a company to keep track of the financial health of the company. starting a business may look like a monumental task but keeping the business alive and well is a much harder task. The management should keep a close watch on the business activities so that it […]
Difference between Internal Audit and External Audit
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 […]
What is Voluntary Liquidation
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 […]
Which Is the Correct Time to Conduct an Internal Audit
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 […]
VAT Updates on Registration of Sole Establishments for UAE
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 […]
UBO ( Ultimate Beneficial Owner) Disclosure Requirements in UAE
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, […]
Individual Finance v/s Business Finance
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. […]