Risk-Based Internal Audit Steps & Benefits Dubai
🥇 Steps in a Risk-Based Technique for Internal Audits What Is a Risk-Based Audit? A risk-based audit is different from a traditional audit. In a traditional audit, the auditor only tests accounts to see if they are right. But in a risk-based audit, the auditor focuses on risks in the business. This method links the […]
Shareholders’ View on Corporate Income Tax UAE
Shareholders’ Perspective on Corporate Income Tax What Is Corporate Income Tax and Why Does It Matter to Shareholders? Corporate Income Tax is a direct tax charged on a company’s net profit. People also call it business profit tax in some places. In the United Arab Emirates, companies must pay 9% corporate income tax if their […]
Accounting Inventories: Key Insights & Valuation
🥇 Important Insights for Effectively Accounting Inventories Why Are Inventories Important for a Business? Every business must treat inventories as a valuable asset. Inventories help the company keep a steady cash flow, supply goods according to demand, and increase profit. Accounting plays a big part in finding out sales, and it also helps with inventory. […]
Role of a Financial Manager: Complete Guide Dubai
Complete Guide on the Role of a Financial Manager in an Organization Who Is a Financial Manager in a Business? A financial manager plays a big part in every organization. He acts like an umpire who makes decisions about the money side of the business. The manager checks all reports and data and makes smart […]
Financial Stress Survival Tips in Business Dubai
Tips to Survive Your Financial Stress in Business Why Does Financial Stress Happen in Business? Many businesses go through financial stress at some point. Recent years have shown how tough things can get, especially during the pandemic. Some companies had to close because they did not have enough funds. This is even harder for small […]
Importance of Internal Audit & Audit Frequency in Dubai
🥇 Importance of Internal Audit & Deciding Audit Frequency in Your Organization What’s an Internal Audit? An internal audit is a careful process that a company uses to check its internal controls with full attention. It helps a business manage its accounts while following company rules. Internal audits add value and improve the company’s operations. […]
Tips for Accounting System in UAE Businesses
Tips for Developing & Improving an Accounting System for New Businesses in UAE Why Should a Business Have a Better Accounting System? Every business must keep a close eye on money coming in and going out. If a business forgets to keep its accounts clear, the business could lose a lot of money. A strong […]
UAE Waives AED 10,000 Corporate Tax Penalty: Key Facts
UAE Waives AED 10,000 Corporate Tax Penalty: All You Need to Know Corporate tax in the UAE can seem confusing for many businesses and individuals. When the UAE first introduced corporate tax, everyone had questions about the rules, who should register, and which companies must pay. There was an AED 10,000 penalty for late registration, […]
Money Laundering Risks for Precious Metals Dealers UAE
Money Laundering Risks for Precious Metals Dealers UAE Dealers in precious metals and stones (DPMS) play an important role in the UAE business sector. UAE law (Cabinet Decision No. 10 of 2019) names them as DNFBP (Designated Non-Financial Businesses and Professions) when they handle money transactions worth AED 55,000 or more, or when several linked […]
Ways to Simplify Small Business Accounting System UAE
Ways to Simplify & Optimize Small Business Accounting System Accounting always plays a vital role in every small business in Dubai. The right accounting system helps owners keep track of income and expenses with accuracy. Owners must keep up-to-date records so they can give clear financial information to investors, management, and the government. The financial […]
