Expert Accounting Services
Accounting firms in Dubai are now required to make sure that their clients adhere to FTA requirements and maintain their business records as per their regulations. Failure to do so will result in AED 10,000 fine first time and AED 50,000 fine if repeated.
Real-time support. Get your accounts in real-time not at the end of the month. We use Xero, the best VAT compliant accounting software in the UAE, to train your admin or secretarial resource to enter data. Our accounting experts will then check all data entry in the back end to make sure it is 100% correct.
British VAT Experts. The UAE VAT system is based on the EU VAT system and the UK VAT system with a few minor adjustments. Our British accountants have over 20 years of experience in dealing with VAT in the UK and now in the UAE.
Management Reports. Our service support management accounts for most businesses. We provide you with your Profits and Loss and Balance Sheet on a regular basis.
Get Awesome Reports
Over the years, we subconsciously take virtual record of all our minute to minute activities. When better things and technology began to evolve, recording went on the high side. Today, our financial endeavors are tabulated for precise clarification and analysis. Human life cannot be completed without the concept of accounting. Accounting exists in every sector and areas of life though it may be overlooked in some areas. But for every profitable sector and businesses, it seems vital.
Accounting simply means the process of keeping a financial record of any desired activity or process. It’s a practical and deliberate move into the bit by bit examination and check of all financial activities of a targeted programme, business or more.
Accounting is a complex term that entails the systematic and comprehensive recording and documentation of all financial activities pertaining to a business, event or more. It also involves summarizing, analyzing and reporting these transactions to oversight bodies. It’s the measurement, processing, and communication of financial information pertaining to economic entities, businesses, and cooperative bodies.
This systematic process of identifying, recording, classifying, verifying and interpreting financial statements and information examines and reveals the profit and loss, income, revenues, and investments if a given firm, not exempting the assets, liabilities and owner’s equity.
Most times, accounting reveals complete and unexpected information with the key focus of keeping you in the limelight and clear picture of the exact financial status. Statutory accounting reveals the entire resources available to a firm, the means employed to finance those resources, and the results achieved through their use.
The term accounting and finance are not necessarily synonymous with one another. Accounting involves a range of information analysis for different business aspects. The concept of taking proper account cannot be overemphasized. Transactions and capital holdings aren’t out of it.
Summarily, accounting is inevitable in all things. Though it’ll seem insignificant in some sections but cannot be entirely ruled out. Hence every individual is meant to acquire a good knowledge of accounting to enable one face all financial challenge. There’s more to accounting than mere calculations and arithmetic. It puts you in a clear understanding of your business or activity.
What are accountants’ services?
An expert accountant is responsible for tackling plenty of financial operations to produce accurate financial statements, maintain records, and regulate result-driven recordkeeping practices. Majorly, accounting services are based on processing financial information to provide in-depth insights along with:
- Tracking/balancing incomes and expenses.
- Reviewing revenue-generating activities.
- Tax consultation, preparation, advisory, and compliance.
- Cost containment programs.
- Strategic planning.
- Recording, reporting, and scrutinizing financial transactions.
What does ‘Audit & Assurance’ mean?
It is a comprehensive procedure where each and every aspect of a company’s processes is evaluated to ensure their functionality. Primarily, it is performed to assess the system’s internal control. The efficiency and reliability of workflows are tested based on the statistical samplings.
Assurance works as proof that financial information is valid, authentic, and fair, free from material error, and obtained from reasonable resources.
How many types do accounting services have?
The 4 main types are:
- Public Accounting (including financial analysis, error detection, payroll, bookkeeping, and tax management).
- Management Accounting (including cost and asset management, and staff performance evaluation).
- Governmental Accounting (ensuring that financial transactions, expenditure, budgeting, and revenue-generating activities are in compliance with the standards).
- Internal Auditing (auditors inspecting misstatements, transaction errors, payment fraud, and bookkeeping mismanagement).
Other worth-mentioning types include:
- Forensic Accounting
- Accounts payable and receivable
- Payroll Processing
- Tax Accounting
- Bank Reconciliation
- Auditing Services
What is an accounting expert?
A professional with high-level accounting capabilities, expertise in financial management, and years of knowledge in maintaining error-free financial records. Or a person who is technically skilled in auditing and budgeting as well as controlling accounting staff with strategic planning.
In simple words, an accounting expert is an individual who is held responsible for maintaining, recording, and interpreting financial transactions.
Why do you need accounting services?
Every business needs expert accounting services to have financial operations and recordkeeping procedures streamlined. It is necessary to make data-driven decisions with the purpose of cutting down extra costs and improving revenues.
You need an expert accountant to ensure that your financial statements are free of errors and in full compliance with standard rules and regulations.