Accounting And Financial Reporting
Accounting and Financial Reporting
As a leading accounting and auditing firm in the UAE, Aebiaccountax provides comprehensive Accounting and Financial Reporting Services across Dubai and the entire UAE. Our services assist clients in presenting their company’s financial status to investors, creditors, clients, suppliers, and government agencies, ensuring that the financial statements adhere to International Financial Reporting Standards (IFRSs). The detailed financial reports provided by Aebiaccountax enable you to assess your company’s financial performance in both past and current periods.
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Why Aebiaccountax
Aebiaccountax provides a comprehensive range of accounting services tailored to meet the financial needs of businesses in the global market. With our precise accounting and financial reporting services in Dubai, we ensure that financial statements comply with International Financial Reporting Standards (IFRS) and uphold the highest standards of professionalism and excellence.
In addition to this, Aebiaccountax offers a variety of services, including CFO services, Outsourced Accounting Services, Organizational Restructuring, TAX or VAT Consultancy, Implementation of Accounting Software, and Due Diligence Services for businesses.
Need assistance with accounting and financial reporting services? Feel free to reach out to us, and our experts will promptly get in touch with you.
Financial Analysis Report
Aebiaccountax experts have been providing Financial Accounting and Reporting services in Dubai and across the UAE for many years. Financial accounting involves the preparation of a company’s financial statements, tracking the monetary transactions of a business. This specialized branch of accounting aims to present the company’s financial performance and status to investors, creditors, suppliers, government agencies, and clients.
Using consistent methodologies, Aebiaccountax records, summarizes, and presents transactions in a Financial Report or Financial Statement, offering detailed accounts and forecasts for company management.
Under the UAE Commercial Companies Law No. 2 of 2015, which took effect on July 1, 2015, all companies are required to adhere to international accounting standards and practices when preparing their accounts. IFRS Standards are also mandatory under the listing rules of NASDAQ Dubai.
Aebiaccountax Accounting and Financial Reporting
The primary goal of accounting and financial analysis reporting is to present an accurate and fair representation of a business’s financial situation. Aebiaccountax follows these steps to assist companies in completing their Accounting and Financial Analysis Reporting process.
1. Double Entry System
Aebiaccountax assists companies in implementing the double-entry accounting system. In this system, every business transaction is recorded in at least two accounts, ensuring that the total debits are equal to the total credits. Accurate data entry is crucial for precise reporting.
According to the rule of debit and credit, an account is debited when an asset increases and credited when a liability increases.
2. Ledger Entry
A Ledger Entry is a recorded statement of the business transactions of a company.
It should include: –
- The Correct Date
- The totals to be debited and credited
- The account of the transaction
- A unique reference number (URN)
Aebiaccountax prepares Ledger Entries based on the debits and credits of accounts, ensuring the accurate and proper closing of ledgers in alignment with management reporting requirements.
3.Trial Balance
Aebiaccountax prepares the trial balance for the company after completing the Ledger. A trial balance is a comprehensive list of all the general ledger accounts, including both revenue and capital, recorded in the business’s ledger. This list includes the name of each nominal ledger account and its respective balance, which may carry either a debit or credit value.
4.Financial Statements
Finally, after gathering all the necessary data, Aebiaccountax proceeds with the preparation of the Financial Statements for the company. Aebiaccountax also offers Finalization of Financial Statement Services to assist clients in verifying their accounting records for improved financial planning.
There are four essential financial statements that every company must prepare and every investor should review: –
- The Income Statement
- The Balance Sheet
- Equity Statement of Shareholders
- Cash Flow Statement
Along with the Financial Statement, other MIS reports as mentioned below help the management take a decision.
- Comprehensive Income Statement
- Customers and suppliers ageing report
- Profitability Analysis Report
- Preparation of Auditing Schedule