VAT Consultancy in Dubai

Management accounting helps management get a better understanding of their business. If you are looking for professional accounting services in Dubai, we can help. Our experienced accounting experts create solid systems and processes to help you manage your business better. We also provide internal audits of sales, marketing, payments and invoicing.

Internal Audit. Hire a qualified CFO to audit your accounts internally. Our CFO will review your accounting processes, will check your audit controls and make recommendations. We can audit your sales and marketing processes saving you thousands by way of leaked sales.

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.

 

FAQs

What is management accounting? What are management accounting services?

Management accounting, also called managerial accounting, refers to gathering financial information, analysing and interpreting reports about business operations, identifying hurdles, and measuring operational business metrics to strategize professional goals for the organization. Later, each piece of information related to sales revenue and expenses of products/services procured by the company is communicated to the management.

It helps the managers make profitable short- and long-term decisions by using performance reports to acknowledge variances between actual results and forecasted budgets.

What are the criteria to work for a company as a Management accountant?

  • Top-tier skills in mathematics, statistics, business, and basic accounting.
  • The minimum education requirement is an undergraduate/bachelor’s degree in accounting or finance.
  • In-depth know-how of cost accounting, GAAP, and finance tools & techniques.
  • Special designation as CAM (Certified Management Accountants) and CGMA (Chartered Global Management Accountants).
  • Effective communication skills, good presentation, strong leadership, and collaborative abilities.
  • Proven record in hard accounting.

What are the two major professional designations for management accountants?

  1. Certified Management Accountant (CMA) – A designation obtained after completing bachelor’s degree, passing 2 parts CMA exam, and earning 2 continuous years of professional industry experience.
  2. Chartered Global Management Accountant – A designation issued by the American Institute of CPAs in the union of the London-based Chartered Institute of Management Accountants, based on experience and exam.

What are the main tools used in management accounting?

  • Financial Statement Analysis
  • Budgetary Control involving Cash forecasting and variance analysis
  • Network analysis
  • Throughput Accounting
  • Integrated Auditing
  • Cash and Fund Flow Analysis
  • Working Capital Management
  • Cost Accounting
  • Decision making Accounting
  • Linear Programming
  • Management Information System
  • Managerial Reporting
  • Financial Policy and planning
  • Marginal costing
  • Operations Research

How management accounting differs from financial accounting?

On the one hand, managerial/management accounting is a service where the company’s financial information is provided to the in-house managers and supervisors who exercise complete control of the running operations of the organization.

On the other hand, in financial accounting, information is delivered to individuals outside the company, including stockholders and creditors.

What Do Management Accountants Do? What are the main functions of management accounting?

You can find management accountants working in public, private, and government agencies/businesses to maximise profits and minimize losses by finding new prospects for professional growth. Analyzing the rate of return is one of their primary functions, as they play a crucial role in managing and suggesting company investments after a risk analysis.

They are responsible for conducting in-depth financial analysis to forecast the future and cash flows, recording financial statements to understand performance variances, and supervising lower-level staff.

From budgeting to strategizing, tracking tax liabilities to preparing income statements, managing balance sheets to assisting in operational decision making – they are held accountable for maintaining a company’s financial (accounting and bookkeeping) system.