The term Accounting will be known to all the businessmen and entrepreneurs. It is one of the most basic function which a business needs to perform. Accounting not only helps the day to day business activities but also assist in service which will be performed in the future. Every business needs to maintain its books […]

The process of Accounting can be very monotonous and tedious work. Still, in the present world scenario, it is one of the most critical functions which a business needs to perform to ensure its survival. A business needs to keep a close eye on the expenditure made by the company, and the function of accounting […]

There has been a visible increase in the number of businesses all over the world. The United Arab Emirates is no stranger to the gradual rise in the businesses coming into the country. All the businesses are required to adhere to certain accounting standards while preparing the necessary financial documents of the company. There are […]

When a person in business or entrepreneur sets up a company, the primary aim of the person is to generate profits for himself and the stakeholders. It is easier for a business entity to find out if it is gaining profits or is facing losses by maintaining the books of accounts of the company. These […]

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 […]

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 […]

In the modern world, technology has become an unbreakable threshold that has infused itself in multiple domains. Ranging from a small mom-and-pop store to a multi-national company, technology has established itself in every corner to make the lives and business process easy. With the constant growth of the IT industry, the sector has targeted the […]

You must have heard a lot that accounting is the language that reveals the complete work-proceedings of a business entity. A corporate body needs to maintain error-free business records as that would be easy for the management to prepare documents and build business strategies. On the other side of the coin comes to audit, which […]

Accountancy is a necessity for all types of business organisations. Human memory power cannot remember every transaction concerning business for an extended period of time. So accounting becomes necessary to record, analyse and summarise all business transactions. Accounting statements and documents can be used as evidence in case of disputes. With the accounting records, profit […]

Every business needs to follow an accounting method that follows specific predefined standards. These accounting standards help the management of a company in measuring the performance of a company. The administration has to choose from the various types of accounting standards, but in general, there are two main types of accounting standards that are most […]