Auditing

audit-trends-blog

Trends in Auditing

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 even imagined these things. However, with the passage of time you have to cope up with new trends to continue your race with the rest of the world. Peat Marwick Mitchell, a chartered accountant in the early days of KPMG mentioned that in the 1960s they had a very strict dress code for work when only black and white shirts were allowed. However, now in the present, firms do not have such strict policies. The main purpose of the auditing profession remains the same from the start to date, which is providing a high quality of services for the betterment…

accounting-blog

Trends in Accounting

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 requirements of the modern world. After the 2008 financial crisis in the business world, businesses make necessary steps to update and modernize their accounting system. In this article, we will discuss the new trends in the accounting industry and their applications in the businesses that use them. Cloud-Based Accounting Systems: The introduction of cloud-based technologies are warmly welcomed by the accounting industry and now it has become an essential part of most of the business organizations. These applications allow their users to access their required data from anywhere they want. This technology has solved many issues related to data security…

Top auditing firms in dubai , UAE -A & A Associate

Define Auditing

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 done internally by employees or heads of a particular department and externally by an outside firm or an independent auditor. The idea is to check and verify the accounts by an independent authority to ensure that all books of accounts are done in a fair manner and there is no misrepresentation or fraud that is being conducted. All the public listed firms have to get their accounts audited by an independent auditor before they declare their results for any quarter.

Top audit firms in uae - A & A Associate

Book Keeping

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…

Top accounting companies in dubai - A & A Associate

Accounting

  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…