Accounting
Charted Accountants in UAE
Aebiaccountax is one of the premier professional accounting firm in the UAE, offering exceptional auditing, bookkeeping, and accounting services across the region. At Aebiaccountax, we deliver comprehensive accounting solutions, aiming to understand your business needs and long-term goals to provide customized services that meet all your business requirements. Our extensive range of accounting services in the UAE includes Account Reconciliation Services, Updating Backlog Accounts Services, Bookkeeping Services, Financial Reporting Services, and much more to ensure your business operates efficiently in the UAE.
Accounting Methods
An accounting method is a practice used by industries to record income and expenses. Officially, there are two main accounting methods: Accrual Accounting and Cash Accounting.
This method records revenues and expenses when they are incurred, regardless of when cash is exchanged. Businesses using this method are required to make reasonable estimates for bad debt expenses.
This is a straightforward accounting method that records revenues and expenses at the time cash is actually received or paid. This method is suitable for small or new businesses that operate on a cash basis or do not maintain inventories.
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Key Areas Of Accounting
Accounting is often viewed as simply recording business transactions, but it encompasses much more than financial record-keeping or bookkeeping. It includes various specialized branches. Here’s a look at the different branches of accounting where you might need assistance:
External auditing involves an independent party examining financial records. Internal auditing focuses on assessing business practices and risks.
This area deals with the preparation and filing of tax returns, tax planning, and ensuring compliance with tax laws and regulations.
This area involves accounting for government entities and ensuring compliance with specific regulatory requirements and standards applicable to the public sector.
This area focuses on the preparation of financial statements, including the balance sheet, income statement, and cash flow statement, which provide an overview of a company’s financial performance and position to external stakeholders.
Also known as management accounting, this area involves the preparation of detailed reports and forecasts for internal use by management to aid in decision-making and strategic planning.
This specialized area involves investigating financial discrepancies and fraud, providing legal support, and preparing reports for use in legal proceedings.
This area focuses on tracking, recording, and analyzing costs associated with the production of goods or services, helping businesses control expenses and improve profitability.
What is Bookkeeping
Bookkeeping involves systematically recording the financial aspects of business transactions in appropriate books of account. Bookkeeping services aid in maintaining accurate financial records by meticulously documenting purchases, sales, and receipts.
Services Provided by Bookkeepers
- Settle bank accounts.
- Account economic dealings.
- Organize financial accounts.
- Preparation of Chart of Accounts
- Billing for services or goods sold
- Allocate the account entries
- Value-added bookkeeping and month-end or year-end closing
Regular bookkeeping allows for early detection and resolution of any issues, preventing them from escalating. It enables the timely identification and correction of any fraudulent activity, safeguarding your business from irreparable harm.
Aebiaccountax Accounting Services
Aebiaccountax comprises a team of highly qualified professionals in business services, offering timely and accurate accounting services in the UAE to facilitate the growth and prosperity of businesses. For every business, we ensure:
- Strategize our operations based on our clients' needs.
- Analyse the business needs and organise them for our work support.
- Choose the best accounting system, the software required and structure the setup.
- A highly qualified staff is appointed for supporting the system and design.
- Timely preparation, submission and interpretation of the reports.
- Channelize the system and deliver the information’s at right time parting in the decision-making process.
- Customer satisfaction is our motto, we prepare management reports based on top management convenience
The major services provided by Aebiaccountax for businesses in UAE are mentioned below:
- VAT Consultancy - Services include assistance with VAT implementation, conducting impact analysis, recommending changes to be integrated into accounting records and systems, and providing training for accountants within the organization.
- Tax - Our team of experts possesses extensive specialized knowledge of the most recent tax laws. A team of proficient tax professionals delivers legal solutions for tax matters.
- Bookkeeping - We provide a comprehensive range of accounting and bookkeeping services.
- Financial Services - We assist our clients in prioritizing organizational growth and effectively managing limited resources.
- Management Accounting - Our expertise lies in advising on business planning, financial management, and conducting financial analysis to aid companies in making informed business decisions.