It is a well-known fact that a business entity needs to undergo the audit process once in the financial year. Now, proceeding ahead alone with the business audit is a crucial task as it involves inspection and scrutiny of multiple scenarios. However, there are chances of error in the internal report that is not well-versed […]
On 1st Jan 2018, the government of UAE has taken a step forward to increase the revenue sources in the nation by implementing the VAT system at a rate of 5 percent on the taxable supply of goods and services at every point in the supply chain. Any business entity that holds taxable supplies and imports […]
Accounting is a very important part of any business, so important that it is considered as the language of businesses. Accounting deals with the recording summarizing analysing and presenting all the business calculations performed by an organization over a definite period or the business cycle. Now, there are a number of subcategories of accounting that […]
One of the most certain scenarios for a business entity is the tax calculations and payment proceedings on a periodical basis. As per the rules stated by the UAE government, the business entities Must submit VAT/Excise returns either monthly or quarterly. The VAT was introduced effective from 1.1.2018 and it turns out to be a second source […]
Tax recordings are one of the integral parts of the business that needs to be clear and error-free. Just like accounting and audit procedures, the tax records are scrutinized during an audit procedure, and any error in them will have a negative impact in the mind of the auditor, and ultimately affect the audit score. […]
With the growing number of company formation in Dubai, the demand for accounting and audit services has continuously been increasing. A business entity needs to implement multiple services to monitor the growth possibilities and grab on colossal revenue. However, implementing numerous services at one time is not possible for a startup, but ignoring them is […]
Nowadays more and more people prefer to start their own business or work as a freelancer. This has been possible due to an increase in business opportunities all over the world. In the present state of the world where jobs are not stable due to the global pandemic, more and more people prefer to become […]
Keeping a continuous track of all the business transactions can be a tedious job. However, the non-maintenance of such transactions will lead to a difference in the business calculations and relevant proceedings. These business calculations are important for the management to decide the future path for the business. The business owners and entrepreneurs prefer the […]
The business records are a vital element that plays a significant role in leveraging the growth opportunities for an entity. Proper tracking of business growth and to understand the profits and losses that occurred during a specific period of the business is the main goal behind maintaining business books. It is important to note that […]
The invention and growth of technology have brought a massive change to the business world, infusing itself to every possible domain. Over a period of time, the usage and utilization of technology have been implemented in different areas like accounting, audit, tax, etc. Specific software is available in the global market for the business entities […]
