Financial Planning for Your Business in Dubai
Updated on Monday 18th April 2016
Rate this article 2 reviewsbased on
Foreign investors with business activities in Dubai are advised to establish a financial plan for their company, which will help optimizing the expected income returns. Financial planning is a useful tool that can help achieve various goals, set out in accordance with the business plan of the company’s management. Businessmen interested in setting out a financial planning proper for their business can receive assistance on the matter from our accounting firm in Dubai.
Financial planning in Dubai
Our team of accountants can help local and foreign businessmen to establish a financial plan set out in order to achieve various business goals, related to sales, prices, production, investments, the manner in which the company will pay its debts (if it is the case) and other aspects.
In order to establish a financial plan, the investor should set out several objectives on a short-term (one year), middle-term (5 years) and long-term (a period longer than five years), taking into account the business opportunities offered by the Dubai market.
Business planning should provide answers to the following situations:
• an analysis of the current situation of the company;
• establishing certain financial goals;
• keeping a track on the way in which company’s goals are completed.
To proceed to these actions, the management of the company, alongside with specialists in the field, should study the financial statements, which will provide a clear image of the current situation of the business and aspects that should be improved.
Documents useful for establishing a financial plan in Dubai
The financial plan should be established based on the following three documents:
• income statement – the document provides details on the company’s revenues and level of expenses;
• balance sheet – the main information offered by the document refer to assets (cash, inventory, equipment) and the liabilities (loans and debts) of the company ;
• cash flow statement – shows the amount of money expected to be received or paid by the company.
If you need further information on the financial planning in Dubai, please contact our team of accountants in Dubai for assistance.