The Difference between Internal and External Audits Auditing consists of a very crucial notion of ensuring that the company is able to keep a clean record of their accounts, and the overall managerial controls that are in place. The overall efficacy of a proper well-managed accounting system is reflected in…
How can accounting help a retail business in the UAE ? In the modern day and age, the way businesses are mostly conducted differs greatly from the conventional times. As a matter of fact, there is an inherent need to ensure on part of the business managers, that they have…
How to do Bookkeeping for your Small Business? 5 Tips for SME Bookkeeping Small and Medium Enterprises in the modern day and age are struggling day in and out in order to ensure that they are able to maintain their accounts. It is important for them to do so, so…
How much time will it take to send money from America to Europe in the next few minutes? Thanks to the new innovations and technologies you can get on with your transactions by pressing just a few buttons from your cell phone. A few years ago no one could have…
Accounting system of an organization is considered as the backbone of every business, as it plays a very important role in the proper functioning of business activities. The changing dynamics of the business world in recent times makes it necessary for the accounting industry to upgrade itself to meet the…
Auditing is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation. Audit can be…
Accounting is an entirely different field of work. Even though a business can’t be judged and is worth nothing without its annual financial reports, not everyone can do it or understand its jargons without comprehensively studying accounting and finance. Any mistake in your financial statements would cause a bad impression…
Value-added tax is a consumption tax levied on every value addition to a product or service during the supply chain from the production to point of sale. Usually the burden of VAT is passed onto the customer and the tax is withheld by the supplier at each stage of…
Accounting is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. In the case of a business firm, the transactions and cash payments need to record in better format and want to keep all with a clear format, accounting is an art…