Business Advisory Services
Startups and SMEs are no strangers to the challenges associated with efficient bookkeeping and financial decision making, and without the right support, can easily fall subject to various accounting nightmares.
Seeking out a business advisor that understands the stage your business is in and what it needs to grow, would benefit a business of any size. Startups and SMEs are particularly vulnerable, whether due to their lack of capital or experience in the market and would benefit greatly from an experienced third-party advisor.
VAT Health Check
A VAT health check is a type of VAT audit used to detect any risks and errors in the VAT by studying and evaluating the previously filed VAT returns and VAT refunds. It is important to ensure that this is both accurate and current. If not, your business may employ outdated client information and consequently, make a financial loss. The taxpayer is responsible for ensuring that all their items are aligned with FTA guidelines.
International Financial Reporting Standards
It is necessary for businesses to adhere to IFRS in their accounting, as these are based on the principles of comparability, relevance, clarity, reliability and various accounting rules.
Detailing how businesses should report their expenses, income and other transactions establishes a common accounting language, understood by auditors, global investors, government regulators and other parties. The standards aid users of financial statements in comparing financial performance of publicly listed companies irrespective of their location.
The European Union, parts of South America, Asia and over 100 countries globally use IFRS as the official standard of accounting. IFRS is different from the Generally Accepted Accounting Principles (GAAP), used in the United States, In that the IFRS framework is principle-based, allowing for more flexibility and room for interpretation. Read more at Harvard Business Insights.
Necessary End-of-Year Bookkeeping
An approaching new year gives you opportunity to measure your business performance over the past 12 months as well as prepare for the future. Proper end-of-year bookkeeping is necessary for businesses to balance and close their books from the past year, allowing them to then draft accurate annual financial reports.
The Association for Chartered Certified Accountants (ACCA)
The association for chartered certified accountants (ACCA) is the widely acknowledged and respected Global Professional Accounting Body. Its certifications are highly sought after and its affiliates span across the globe.
In recognition of our commitment to staff training and development, CTC Accounting has been accredited with two certificates by the highly esteemed and globally recognized body for professional accountants, the ACCA.
What does it mean for a tax agent to be FTA registered?
The tax agent is appointed on behalf of a person or an entity to :
assist with the fulfilment of his/its taxable obligations,
answer the questions regarding tax compliance,
represents his/her client in front of the Federal Tax Authority (FTA).
What are Budgeting and Cashflow Forecasting?
Thinking about growing your business?
Before anything else, you should consider the importance of budgeting and cashflow forecasting!
Predicting the financial future of your business is not easy, especially if you’re starting a business and don’t have experience in that field. You can use budgeting and Cashflow Forecasting to analyse and to help your company plan and reach its goals.
Which Accounting Platform is better for Your Business?
Keeping your business finances in order is important for any business owner. And accounting platform is a key tool to help you. But choosing the right accounting software can be difficult. In this article, we will try to point out some important differences as well as the common characteristics between Zoho books & Xero. It will help you to figure out which service is a better fit for your business, as well as which features you need. When we compare two key softwares Zoho and Xero, we can say that both options will give us the basic accounting features. But each offers unique capabilities and different price points as well.
Now you are VAT registered! What’s next?
The moment when you are VAT registered seems like conquering the top of a mountain. And like everyone else you think you’re finally done with the well-known nightmare: VAT registration. Then suddenly one by one, the question arises:
“What’s next?
What is reverse charge?
What is a supply under VAT?”
The continuation of this text is for those of you who had this difficulty. And decided that your knowledge, it is the basis of understanding your future business and finances.
The Finance Division Is Now a Slick Operation
Meet Aideen Hopkins, Operations Director of the EER (Executive Expatriate Relocations), the #1 company that offers a range of relocation, immigration, and corporate services for new and existing businesses across the Middle East. EER was founded in Dubai in 2005 after recognising the need for a personalised and professional relocation company that could cater to the demands and nuances of conducting business across the UAE and wider region.