ACCOUNTING

BM World UAE > ACCOUNTING

We recognize that having access to timely and accurate financial information is crucial for clients to maintain a competitive edge in today’s dynamic business environment. We provide a full range of computerized accounting services, bookkeeping services for the companies in the UAE who require a proper and complete set of the financial statement which includes:

  • Preparation of full set of accounts on the monthly, quarterly or yearly basis
  • Group consolidation and preparation of the annual report
  • Design and preparation of financial reporting packages for management
  • Performing bank and other accounts reconciliation

By outsourcing your accounting function to us, organizations would undoubtedly see the performance improvement by:

  • Freeing the management from administrative and regulatory tasks and thereby enabling them to concentrate on higher-level of financial decision-making
  • Utilizing established external infrastructure, without the upfront costs
  • Keeping away confidential financial information from the internal staff
  • Putting a full stop to worry about account staff turnover

 

As per the Mandatory regulation of VAT in UAE effective from 1st January 2018 it’s a must to perform Accounting & Bookkeeping complying with regulations:

 

Accounting Solutions

Business Management World provides the Accounting service on basis of scope of work with competitive service charges and customized solution, our services are:

 

  1. Setting up Accounting procedures as per IFRS.

 

  1. Identifying Financial Accounting Software and its Implementation e.g. Tally, QuickBooks, Sage, Peach tree etc.

 

  1. Supervising and reviewing of financial accounting records.

 

  1. Financial Reporting on periodical basis i.e. monthly, quarterly or half yearly.

 

  1. Forecasts, Budgets and Projections.

 

  1. Training and supervising accountants.

 

  1. Create comprehensive policies and procedures to streamline accounting operations.

 

  1. Maintaining Accounting books in relation to that Business, which include records of payments and receipts, purchases and sales, revenues and expenditures, and any business, including: Balance sheet and profit and loss accounts, Records of wages and salaries, Records of fixed assets, Inventory records and statements (including quantities and values) at the end of any relevant Tax Period and all records of stock-counts related to Inventory statements.

 

Bookkeeping Solutions

 

Business Management World provides the bookkeeping service on basis of duration of storage and volume of documents:

 

Period of Record-Keeping (Bookkeeping):

Every business entity shall keep these records in a manner that enables the Authority, or an officer authorized by the Authority, to ascertain that Person’s Tax obligations, as follows:

For a period of (5) years after the end of the Tax Period to which they relate in the case of a Taxable Person.

For a period of (5) years from the end of the calendar year in which the concerned document was created in the case of non-Taxable Persons.

For a period specified in the Tax Law for real estate records.

 

We love to listen and we are eagerly waiting to talk to you regarding your project. Get in touch with us if you have any queries and we will get back to you as soon as possible.