Keeping track of all the transactions, financial or any other kind, of the company is very important for it to grow. With the knowledge of every transaction made, the management of the company will be able to predict the outcome of the decision they make on the business front and will also be able to […]
How can Auditing Add Value to your Business?
Performing an Audit of the company is looked upon as an obligation and not as an opportunity, but gradually this mind-set of the people is changing. Now, if the company is going into losses or is nor performing as planned, then the first thing that the management performs is an Audit. The Financial Audit of […]
COVID-19: How Can You Prepare Your Business
At the beginning of the year, there were only talks around the water coolers about a virus that had come from the bats, but nobody paid attention to it. Gradually this virus spread all over the world, but still, the people used to think that this virus can be contained to a specific location. And […]
Advantages of Adopting IFRS in the UAE
The International Financial Reporting Standard (IFRS) is a widely accepted and most followed accounting standard all over the world. The IFRS was issued by the International Accounting Standards Board (IASB) and the IFRS Foundation and will assist the management of the companies and accountants all over the world to understand the business numbers of the […]
Company formation process in Dubai demands Approved Auditors
The main aim of any business organization is to make a profit for them as well as the shareholders of the company. This aim can be achieved by availing proper Accounting and Auditing services. Auditing plays a huge role in the development of a business. Not only it will provide information about the internal processes […]
Top 4 Reasons to Avail Audit Services in UAE
Audit services in UAE are vital for businesses of all types and sizes. Negligence in auditing or choosing a random audit firm in UAE can also cause you a severe penalty. Audit service in UAE from a reputed audit firm will save you time and money. People might ignore company audits, thinking it’s time-consuming; yes, […]
Impact of the Economic Substance Regulations (ESR) on the Businesses in the UAE
The Economic Substance Regulations (ESR) was introduced in the United Arab Emirates through the Cabinet Decision Number 31 of 2019. This regulation was implemented to reduce illegal tax practises and wrong doings in the business community. This regulation will put a stop to wrong tax practices followed in international business and will ensure that the […]
Top 7 Reasons to Implement Bad Debt Accounting
Customer is regarded as the king of any business. Imagine a scenario wherein the king fails to pay the appropriate amount, and the business entity has got no accountability? Scary, right? Well, to avoid such unwanted scenarios, it is highly essential to keep accountability of the revenue generated. It is a well-known fact that the […]
How Can Financial Restructuring Help Your Business?
Finance is the fuel that drives the engine of a business entity, and without which an organization can’t perform. Now, a business organization needs to understand that keeping an eye on the available finance and knowing its utilization is a must. Now, while proceeding towards the process, it is essential to know that multiple parameters […]
How Approved Auditors Perform Tax Audit?
A tax audit is an examination for a business entity that is meant to uncover the fraud and inaccurate proceedings related to tax and its filing and return. In Jan 2018, the UAE government initiated the VAT proceedings that is a consumption tax. Now, according to the legal laws, a UAE established company needs to […]