The process of independent examination root by the root of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements, as well as non-financial disclosures, present a true and fair view of the concern Auditing is an assesment of a company’s financial practices, including account procedures, filing, regulatory compliance and all documentation. Audits can be performed within the company by its employees (internal audit) or by an outside firm (external audit), to ensure financial accuracy and transparency. The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date.
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 on the readers. Bookkeeping is the initial step of preparation of financial reports. It involves management of all your books, ledgers and accounts. This is a huge responsibility that requires immense amount of effort. It gets extremely difficult for the management to supervise the finances while managing the entire business. This is the reason why we have the perfect solution for you. How about you share your burden with us? We provide bookkeeping services to numerous organizations throughout the city so they can do what they are best at i.e. profit-making and providing quality products to customers. By outsourcing your…
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 supply chain. The amount of VAT charged is on the product’s cost less any cost of materials used in the product that have already been taxed. VAT has been implemented in UAE since 1st January 2018. We understand that it is a complicated process and has been recently implemented which is why, not many experts will be found in the market. At A&A Associates we have qualified tax experts who can assist you in setting up the perfect VAT system for your business. Whether it’s a service industry or trading of goods, we have got your back and will guide you as…
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 of classifying summarizing of records in a significant manner. Bookkeeping also another way keep and classifying our cash transactions and other payments. Bookkeeping is mainly related to identifying, measuring, and recording the financial transactionsMany use the terms bookkeeping and accounting interchangeably, but the fact is the former is the first step to the latter, i.e. bookkeeping is the stepping stone of accounting. As far as the scope is of these two processes is concerned, Accounting is much wider and analytical than bookkeeping. Bookkeeping it is only a part of accounting, which creates a base for accounting. While bookkeeping stresses on the…