One of the significant steps that were initiated by the GCC countries in 2018 was the inclusion of VAT in the world of business. The Middle East region is well-known for oil industries and fetches the revenue from the oil sources. In the past few years, the region has also concentrated on non-oil sectors and […]
This audit process would result in the management knowing about the loopholes and bottlenecks of the business and will assist them in taking remedial measures. Hence, we can figure out that auditing is a very crucial procedure which has the potential of reviving a dying business. The audit is a process which is usually conducted […]
If you have just started a business or are expanding your current one, you will require the services of an accountant. Depending upon the scale and your budget, you can avail the services of an in-house Full-Time accountant or a Part-Time accountant. Now, hiring a Full-Time accountant will help your cause, but you must also […]
Bookkeeping may be a very lengthy and time-consuming process, but it is a mandate for businesses all over the world. A company cannot dream of flourishing without proper bookkeeping and accounting. It is essential for a bookkeeper to maintain and to produce appropriate transaction records at the required times. It is necessary that you hire […]
It is well-known that the UAE has been considered as a favourable destination by entrepreneurs, business owners, freelancers. The region provides a platform for business organizations to establish their roots and grow to national and international level. The UAE stands as a member of the GCC countries, and an important step was taken forward to […]
The task of recording, tracking and managing small expenses may not seem important but turns out to be one of the essential functions that a company can’t ignore. Bookkeeping is the ultimate process that records the expenses, and finally builds the foundation for accounting. While dealing with the process, accuracy stands first in the priority list. […]
Insolvency can quickly and quietly sneak up to a business, and by the time you realise it, it might be too late. A company is considered insolvent when it is unable to fulfil its financial liabilities and has debts that exceed the combined value of all its assets. In such a case the business would […]
Taxes are a critical source of revenue for the government of a country and thus are very important, but, the filing of charges can pose a tricky situation in front of the one who is filing taxes. If the taxes applicable to an entity are less and can be easily calculated, you can file charges […]
The business environment is very dynamic and is ever changing its course. This is the reason many businesses are formed but gradually are burnt out. Knowing the value of the company beforehand helps to have an idea as to which aspect of the business requires your immediate attention and which part is a lost cause. They can […]
The introduction of VAT has been relatively recent, but the impact of VAT in UAE is enormous. The VAT implementation was done at a standard rate of 5% (except certain items which are taxed at 0% or are exempted under VAT) from 1st January 2018. This rate was decided by all the GCC countries together and […]
