Key Accounting Considerations for Oil and Gas Companies
Introduction The oil and gas industry plays a vital role in the UAE economy. It contributes to high revenues and strong per capita income. The wealth from oil and gas is invested in many other industries, creating growth in infrastructure and attracting foreign investors. Over time, the share of oil and gas in GDP decreases, […]
How a Tax Advisor Helps an Organization to Save Business Money
Introduction A tax advisor plays a critical role in every business. He manages all tax-related matters and ensures the company pays taxes correctly while reducing unnecessary costs. A tax consultant must have complete knowledge of current tax laws in the region. For example, in the UAE, he must understand VAT, input tax, output tax, and […]
Registered Auditors Benefits in UAE Explained
Introduction In the UAE, audits are mandatory for all companies. An audit is an independent examination of financial reports by a third party. The main purpose is to present a true and fair view of financial statements. Registered auditors remain independent from management to ensure objectivity and transparency. A registered auditor may be: They must […]
Adopting IFRS in UAE: Benefits & Challenges
Introduction Is IFRS an inevitable concept in the UAE? Before we explain its advantages and challenges, let’s assess its framework. The International Financial Reporting Standards (IFRS) provide global principles for preparing financial statements. Without such standards, companies may face confusion and inconsistencies. IFRS works as a guide whenever local accounting rules are missing. The adoption […]
Steps Taken by Companies If Their Income Comes Under CIGAs 🥇
Introduction Many business owners in the UAE ask: What are CIGAs? How is income under CIGAs treated? These questions arise because the Economic Substance Regulations (ESR) are now active. Companies must understand ESR rules and check if their business falls under Core Income Generating Activities (CIGAs). ESR applies to many types of UAE companies including: […]
Bookkeeping Essential for Freelancers in UAE 🥇
Introduction Are you a freelancer or solopreneur in UAE? Do you need help to manage money and keep records? Bookkeeping is essential for freelancers because it ensures every payment and expense is tracked. Many freelancers face issues like delayed payments, pending invoices, and missing records. Without proper bookkeeping, financial growth becomes harder. Bookkeeping services include […]
Technology in Decision Making for Top Managers
Introduction Technology changes the way top-level management makes decisions. In today’s fast business world, managers want quick and correct choices. Old systems were rigid, but modern tools give flexibility. Managers now shape their companies with clear project goals and smart processes. With advanced tools, leaders get real-time data and easy collaboration. They can analyze markets, […]
Major Roles of Accountants in Law Firms 🥇
Introduction Accountants play an important role inside law firms. A lawyer knows about laws, but a lawyer doesn’t know much about numbers. So, accountants handle money matters. They act as financial interpreters and advisors. Many law firms use outsourced accounting services because they’re efficient. These services help in tax filing, financial reporting, and fraud prevention. […]
Economic Analysis UAE – Business Insights
Economic Analysis UAE – Business Insights Economic analysis UAE helps companies understand market conditions and make informed decisions. It examines financial data, industry trends, and policy changes. Businesses use it to improve strategies, meet compliance, and gain a competitive edge. Mubarak Al Ketbi (MAK) Auditing offers economic analysis to support businesses in every stage of […]
CbCR UAE Requirements & Compliance Guide
CbCR UAE – Complete Compliance Guide for Businesses CbCR UAE stands for Country-by-Country Reporting in the United Arab Emirates. It’s a legal requirement for large multinational groups to report their global financial and tax information. The UAE introduced CbCR under Cabinet Resolution No. 44 of 2020, following the OECD Base Erosion and Profit Shifting (BEPS) […]
