Reviews are a fundamental piece of maintaining a business, yet they can be particularly overwhelming for private companies. The following are six helpful audit recommendations for UAE small businesses: Get Organized Getting organized is the first step toward a successful audit. This means keeping track...
The introduction of new laws is an intimidating part for business owners to comply with. The Federal Tax Authority (FTA) has introduced the UAE Corporate tax and now is going to implement it all over the UAE. The companies that provide services and products will...
The proposed UAE Corporate tax law defines a related party as an entity or individual who has a pre-existing relationship with a business. This is within the scope of the UAE Corporate tax regime through ownership, kinship, or control. How To Identify Related Parties There are many...
Creating a great AML training program for employees is a serious requirement for financial institutions and Designated Non-finance Businesses & Professions. These include Dealers of Precious Metals and Stones, Auditors and Trust & Corporate Services Providers, and Real Estate Agents. It is mandatory to train the...
Availing of accounting services in Dubai is crucial for tech startups to effectively manage their accounting and finance requirements. Startups in the technology industry are a distinct type. Most of the time, they are started by young, determined businesspeople who are passionate about their products or...
These days, no business operating in Dubai can ignore the accounting part. After the implementation of the VAT regime, the companies became more focused on accounting tasks and services. It is not just enough to recruit one or more accounts associates or hire an accounting...
It requires effective financial management to run a successful business. Bookkeeping plays a vital role in this process, as it helps businesses to enable their expenses, income, assets, and liabilities. Businesses can analyze their plan for growth, financial health, and meet legal obligations by maintaining...
The financial world is filled with uncertainties and there are many internal or external factors that can lead to mishaps in business. In the financial world, some organizations might not be able to handle the test of financial strains even in a trade destination like...
It is not practical for audit companies in Dubai to test all items of an account that were taken place during a particular year. This is the reason the companies have to select samples from these transactions that would represent the real transaction scenarios. If all...
Cash basis accrual and accounting basis accounting are the most usual accounting method used by companies to keep track of their expenses and revenue. However, businesses prefer one method more than the other one depending on their business model. Entrepreneurs need to know which one...
