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It goes without saying that owning and operating a business is costly. Inexperienced entrepreneurs are more concerned with the amount of money they can make from their firm than with the costs they will incur while operating it. It’s a serious error that may be corrected with the assistance of …
If a company expects financial difficulties, it must forecast, plan, and speak with lenders immediately to determine its future. What is cashflow crisis? A cash flow shortfall occurs when a company’s cash outflow exceeds its cash inflow. That means you could not have enough money to cover payroll or other …
VAT (Value Added Tax) is an indirect tax placed on the consumption of goods and services. The introduction of vat would have a significant influence on the operation of transactions, making it harder for taxpayers to satisfy their tax obligations. To keep up with global developments, VAT legislation are dynamic …
Bookkeeping and accounting are central prerequisites for each business, small or medium. You can’t work without dependable, exact, and opportune monetary data. It is vital to screen your organization’s presentation, and fundamental so you can settle on suitable business choices. Our expert, completely qualified bookkeepers comprehend the significance of this, …
What is Bookkeeping? Bookkeeping is one of the most important attributes to learn if you want to run a successful business since it allows you to keep track of your money on a daily and long-term basis. Bookkeeping Tasks Bookkeeping tasks must be completed on a daily, weekly, and monthly …
Personal investment and credit are frequently linked with business purchases and development in small business financing. Even if you run a sole proprietorship or partnership, you can take an important first step toward building a separating line between your business and personal finances by establishing a business credit score. If …
UAE – Corporate Tax – Key Insights Tax Rate = 9% on the Taxable income exceeding AED 375,000 Taxable Income = Adjusted Accounting Net Profit (Further details to be discussed) Effective from Financial Year 01-June-2023 Accounting Standards to be followed = Internationally Acceptable Standards (E.g. IFRS / GAAP) The UAE …
How to hire a financial professional for your business? Nowadays, the demand for financial professionals in Dubai is continuously increasing. Hiring a team of financial professionals, you can entrust with day-to-day customer duties frees you up to focus on higher-level activities that will help the company expand and increase profitability. …
What are financial reports? Financial reporting is a common accounting practice in which financial statements are used to display a company’s financial information and performance over a certain period of time, usually annually or quarterly. In simple terms, a financial report is necessary for understanding how much money you have, …
What is a Forensic Audit Service? The financial statements of a company or an individual are examined and evaluated in a forensic audit. HMRC and tax audits are the most common uses of forensic accounting. Private companies, on the other hand, can use it to get a comprehensive picture of …
An organization’s fixed asset registry is a comprehensive list of its fixed assets. This register is primarily created and used to maintain track of the book value of the assets for accounting and tax purposes. Creating and maintaining a fixed asset register, as well as completing periodic physical checks on …
An income statement depicts a company’s profitability over a period of time. In other words, it summarizes revenues and expenses resulting from operating and non-operating activities. It also shows the company’s net profit or loss. It is one of the most important documents in a business’s financial reporting. Alternative names …