Accounting Services for Large Companies in Dubai
Updated on Monday 04th February 2019
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What does it implicate to run a business in Dubai? Does it mean you do not have to pay any taxes, put together balance sheets or do any accounting tasks? Whatever your line of business in Dubai is, or the size of your business, you still have to make sure that you maintain your company’s accounts up to date and organized. This way, you will be permanently informed on the profitability and the solidity of your firm and you will be more prepared when asking for finance – both on a personal level, as well as a business one. You can address your inquiries to our team of accountants in Dubai and find out more about the accounting matters a large company needs.
Although many times it is considered that hiring outsourced accounting firms in Dubai is going to be more expensive and add further expenditures, in reality, it actually helps you save the finances of the company. When you hire an accounting company for your firm, you do not have to spend any money on recruitment, salaries, benefits, and office location. Therefore, you actually save up to 30% of your company’s expenditures, a capital that can be used in the UAE for real estate and staff expenses.
Audits for large companies in Dubai
Internal audits are recommended for large companies in Dubai and are made on a periodical basis, as agreed by the owners and the directors of the company. Such kind of audit will reveal if there are any financial problems in the firm and if there is a need for applying a specific set of measures to improve the activities in certain departments. An audit report that clearly specifies the problematic areas in the company will also comprise and highlight the performances in a company and its direction. In this sense, the profits can be optimized if the audit report reveals such measures, and more than that, the management can be evaluated from the very beginning, when the audit starts. All the vulnerable departments or areas in the firm can be revived if special actions and procedures are made and if the management of the large company agrees in this direction. Let us remind you that our team of accountants in Dubai can perform audits in Dubai, in compliance with the local and the international laws.
The annual financial statements for large companies in Dubai
All large companies need to submit the annual financial statements which represent a correct, clear and impartial analysis of the financial operations of a company in Dubai. It is important to know that the applicable rules for the financial statements of a company in Dubai are the International Financial Reporting Standards or IFRS as they are known. The annual financial statements are important declarations comprising complete information about the financial status of a company, including details about the profits and the losses registered in the firm. Limited liability companies, subsidiaries, and branches registered in the UAE need to comply with the regulations involving the annual financial statements. Large companies established in Dubai’s free trade zones are also required to fulfill and submit the annual financial statements. Instead of dealing with errors or confusions when preparing such important documents, it is best to solicit the support of a team of accountants in Dubai.
Choosing an accountant for your large company in Dubai
An accounting specialist needs to have the CPA certificate and must have knowledge of the legislation in the UAE, plus a portfolio showing the experience in this field. An expert in the accounting field knows the taxation structure and the regulations involved, especially the ones applicable in Dubai. Entrepreneurs in Dubai will have to make some verifications and check if the chosen accountant suits the needs of the large company he/she owns in Dubai. A team of accountants is, in most cases, needed for medium and large companies established in Dubai, as they have varied operations and financial situations. An experienced accountant has sufficient knowledge in matters like audits, bookkeeping, tax advice, management reporting and preparation of the annual financial statements. A qualified team of accountants is recommended for a large company in Dubai because such team is specialized in all important accounting matters and can be in charge of the daily financial activities. Let us remind you that you can benefit from the services provided by our accounting firm in Dubai with specialists in all of the important accounting matters.
General consulting services for large companies in Dubai
Aligning with today’s tax structure is important to large companies in Dubai. We remind that the excise tax and the VAT were introduced in 2018, making enterprises comply with the applicable legislation in this direction. All companies need accurate tax management in order to avoid any possible financial errors that might occur. You should get in touch with a Dubai accountant and solicit complete support if you are interested in acquiring real estate properties for which you need to know the taxes involved. Also, a foreign entrepreneur can ask for support and guidance if they want to make future investments in the firm for which a complete financial report is necessary before anything else. It is significant to make an internal audit and observe the financial status in your company before making any investments. An audit report for your large company in Dubai can be provided by a professional team of accountants in Dubai who works in your best interest with transparency and clarity in order to offer a clear financial report. Do not hesitate to solicit the support of our team of accountants in Dubai if you own a large company in the city and you want to externalize such services.
Why choose our accountants in Dubai?
Save your time and money by choosing to outsource a company that handles your accounting services for large companies in Dubai, instead of searching and hiring personnel in the accounting and tax-related domain. Our experts work on fixed deadlines and can assist you with advice to keep you away from tax-related legal penalties and problems.
Services offered by our accounting firm in Dubai
We are a team of accountants that provides professional accounting services for large companies based in Dubai, no matter how great or complex the transactions might be. Our experienced accountants offer a variety of services in accounting assistance for large companies in Dubai. These services include:
- books cleanup performed in the company by our advisors;
- preparation of the financial statements in compliance with the international laws;
- bookkeeping in respect with the applicable rules in the country;
- monthly, quarterly and annual reviews with complete support from our consultants;
- a complete financial analysis to verify the vulnerable departments in the company.
After we become familiar with your accounting books, procedures and policies, we have the ability to take care of your company’s routine daily assignments, like:
- accounts receivable and accounts payable;
- fixed assets and general ledger;
- bank and credit card reconciliation;
Our accountants in Dubai can offer valuable assistance to your already existing accounting department or act as a virtual accounting team, according to your own company’s needs. Please contact us if you need more information on the accounting services for large companies that we provide.