Finance is the component that drives a business entity to perform its activities. It is the domain that keeps a check on the financial flow as well as project the sustainability and growth prospects of the organization.
The UAE havs transformed itself into a tourist spot. In the first half of 2018, Dubai itself has attracted more than 8.1 million tourists from every corner of the world. Visitors get fantasized with the tourist spots and are also driven by the craze of shopping in Dubai.
In simple terms, payroll refers to the process wherein the company keeps a check on the overall payment offered by them. This process of maintaining the track record might seem easy at the initial stage of business, but as it grows, it turns out to be complicated.
In an organization, the accounting department serves as the most crucial one that keeps a check on the business transactions since the initial point. It becomes essential that a business entity maintains a proper book of records from the very first day of business incorporation.
Dubai, one of the fastest developing commercial hubs, is a home to millions of international expats that constitute a large number of entrepreneurs, investors, employees. The destination serves as a home to world business entities and is continuously expanding it in all possible ways.
Business entities play a very significant role in developing a nation. Growing number of business entities have given birth to entrepreneurs in all possible domains. In a year, multiple ideas get implemented but very few are able to sustain in a long run.
A business entity can stand only if its core pillars are strong enough. These pillars include the different departments, and its stakeholders that give the very meaning of existence to a business entity.
Any business organization is a formation of different departments and units. Each unit is meant to perform specific tasks and has got their own rules and regulations to be followed accordingly.
Whenever we hear the word ‘Bad Debt’ it leaves scary footprints in our mind. A business involves itself into multiple financial transactions in a single day.
Dubai, one of the biggest business destinations, has been growing continuously and is extensively making a way for multiple businesses available worldwide, heading towards becoming the future business podium. The economy has got rules and regulations that need to abide by the organizations.
With value added tax (VAT) in the UAE from 2018 come certain new systems and regulations, catching up on which could prove beneficial to business owners.
Value Added Tax (VAT), at the rate of 5%, was introduced in the UAE from 2018.
Internal audit is a formal inspection of a company’s internal controls, like accounting and corporate governance, with the aim of proposing improvements in the system and spotting any inadequacies before they are discovered in an external audit.
As a small or medium-sized business (SMB), it might seem convenient to do away with the accounting function entirely, as a cost-cutting measure, and figure it as the company goes along. One couldn’t be farther from the truth.
An escrow account is a legal account in which an asset or a financial instrument is held by a third party – an individual or entity – on behalf of two other parties that are in the process of completing a business transaction.
In the modern business world, every organization faces risks; without risk there is no growth or reward. Risk management is the process of recognizing risks in advance, and includes analyzing and taking precautionary steps to reduce the risk.
Internal audit is an independent consulting activity designed to improve an organization’s performance. The process helps a firm accomplish its predetermined objectives by setting up a systematic, disciplined approach to evaluate and improve the efficiency of its operations.
Technology is not detached from our day-to-day business. Accounting software is a software which brings all systems and application together to manage and process financial data. An organization uses these programs to control accounts and automate systemic operations.
Retirement, a phase that every individual has to face and also wants to secure at the same time, is not limited only to financial safety and security. It is a phase where an individual gets another chance to fulfil one’s unmet needs and desires.
In today’s world, accounting and bookkeeping play a very vital tool in the business world. These not only provide you with useful information about your company’s financial health but also give you metrics to plan your corporate strategy.