As a small or medium-sized business (SMB), it might seem convenient to the management to do away with the accounting function entirely. While the management may consider it to be a move which will help manage the costs of the business and it will also provide the time to figure out as the future path […]
Things to Know Before Opening an Escrow Account in Dubai
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. The escrow agent holds the fund or assets until the final obligation […]
The Importance of Risk Management in Business
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. In the financial world, risk management involves identifying and analyzing the risks in financial instruments before any […]
A Guide to Choose the Best Accounting Software in 2020
The effect of the recent technological advancements can be seen everywhere. The use of technology is increasing in all the parts of your life, be it entertainment, transactions or business. Even in the field of accounting and advisory services, companies now have accounting software which is very easy to operate and can interlink all systems […]
New Rule for Retired Expats in the UAE
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. Whenever we hear the word ‘retirement’, it presents a picture wherein […]
7 Reasons to Outsource your Accounting and Bookkeeping in 2020
Whether upcoming companies or already establish one, all companies require accounting services, especially in a place like Dubai. Considered as the financial hub and one of the most vibrant cities in the Middle-East, it has witnessed an influx of finance companies in UAE causing a greater need for accounting & financial services in the area. […]
6 Steps to Avail Financial Audit Services in 2020
Just like the accounting or VAT serves to be the strongest pillars that hold an organisation, Audit too plays a crucial role that goes beyond just numbers and statements. It analyzes the loopholes of business and fixes it. Regarding financial audit, it dives into the financial department and gives a clarity regarding the company’s financial […]
Implementation of Company Due Diligence in 2020
Too often, the process of due diligence is considered as trouble or impediment that must be encountered. This misconception overlooks the privilege that a corporate due diligence process actually provides. To explain the importance of due diligence, let’s take a step back and consider what due diligence is and how the whole process goes. What […]