Accounting Services in Dubai

Fees of accounting services in Dubai

You might have noticed that fees of accounting services in Dubai depend on own policy of accounting firms. If you ask fee of our consulting firm is given as below for understanding:

Preparation Financial Statements as sample

For the Year Ended December 31, 2020

(Company Name)

Report on the Financial Statements

We have audited the accompanying financial statements of (company name), which comprises the Statement of Financial Position as of December 31, 2020 (period), the Statement of Profit or Loss, and Statement of Cash Flows for the year from January 1, 2020 to December 31, 2020 then ended and a summary of significant accounting Policies and other relevant explanatory notes. UAE follows International Accounting Std.  & Practice (IFRS)

Statement of Financial Position

As of December 31, 2020

#Assets

1. Non-Current Assets
2. Furniture & Fixture
3. Intangible Assets
4. Goodwill
5. Investment in Shares
6. Other Non-current Assets
7. Current Assets
8. Inventories
9. Advance Income Tax
10. Short Term Investment
11. Cash and Cash Equivalents/ OD

Total Assets

#SHAREHOLDERS’ EQUITY AND LIABILITIES

1. Equity Attributable to the Owners of the Company
2. Issued Share Capital
3. Share Premium
4. Revaluation Surplus 
5. Retained Earnings (Loss)

#TOTAL EQUITY

1. Non-Current Liabilities
2. Long Term Borrowings
3. Net of Current Maturity
4. Liability for Gratuity and EPF & Welfare Funds
5. Liability for provident
6. Current Liabilities and Provisions
7. Short Term Borrowings
8. Long Term Borrowings
9. Current Maturity
10. Creditors and Other Payables
11. Accrued Expenses 
12. Income Tax Payable

#Statement of profit or loss

1. Net Revenue (figure)
2. Cost of Goods Sold (figure)
3. Gross Profit / Loss (figure)
4. Operating Expenses (figure)
5. Administrative Expenses (figure)
6. Selling, Marketing and Distribution
7. Expenses

• Profit from Operations (figure)
• Other Income
• Finance Cost
• Profit Before Contribution to employees provident
• Contribution to provident

1. Profit Before Tax (figure)
2. Income Tax Expenses
3. Current Tax
4. Deferred Tax 
5. Profit after Tax (figure)
6. Profit/(Loss) Attributable to:
7. Owners of the Company (figure)
8. Non-controlling interest

• Other Comprehensive Income
• Unrealized Gain/(Loss)
• Total Comprehensive Income for the Year (amount)
• Total Comprehensive Income Attributable to:
• Owners of the Company (amount)
• Non-controlling interest

#Consolidated Statement of Cash Flows

1. Cash Flows from Operating Activities:
2. Net income (figure)
3. Adjustments from net income to cash
4. Accounts receivable
5. Accounts payable
6. Total cash flow from operating activities

• Cash flow from investing activities
• Fixed and current assets –
• Long-term investments –
• Total cash flow from investing activities
• Net change in cash

#Notes to the Financial Statements

#General Ledger Report

Bank account

1. Property Plant and Equipment
2. Intangible Assets
3. Goodwill
4. Investment in Shares
5. Inventories
6. Administrative Expenses
7. Selling, Marketing and Distribution Expenses
8. Employee’s contribution
9. Cost of Goods sold
10. Net Sales Revenue
11. Other Income
12. Finance Cost
13. Income Tax Expenses

The Securities and Commodities Authority of UAE made compulsory with IFRS as stipulated by the Central bank to submit AFS. But the listed companies win NASDAQ is needed to submit financial statement in accordance with International Financial Reporting Std. s (IFRS).

Although it is not compulsory for non-listed companies, but it is suggested to do AFS to avoid complications.

Section of general financial statement in Dubai

Std. 1.1 First-Time Adoption on basis of Accrual

Std. 1.2 Accounting Policies and Changes as Accounting Estimates

Std.  1.3 Presentation of Financial Statements

Std.  1.4 Cash Flow Statements in UAE

Std.  1.5 Related Party Disclosures

Std.  1.6 Presentation of Budget Information in Financial Statements in UAE

Std.  1.7 Events after the Reporting Date

Tangible and Intangible Assets

Std.  2.1 Property, Plant and Equipment

Std.  2.2 Investment Property

Std.  2.3 Intangible Assets

Std.  2.4 Agriculture

Std.  2.5 Lease Contracts

Std.  2.6 Service Concession Arrangements: Grantor

Std.  2.7 Impairment of Cash-Generating Assets

Std.  2.8 Impairment of Non-Cash Generating Assets

Inventory

Std.  3.1 Inventory

Financial Instruments

Std.  4.1 Financial Instruments

Std.  4.2 Borrowing Costs

Std.  4.3 Effects of Changes in Foreign Exchange Rates

Objectives of financial statement in Dubai

1. Assets.
2. Liabilities.
3. Net assets / equity.
4. Revenue.
5. Expenses.
6. Other changes in net assets / equity; and
7. Cash flows.

Our team of accounting services

Our accounting team members are highly qualified and obtained professional degree from Chartered Institute as associate and fellow members (ACA and FCA). And, also you can find information of company registration services in Dubai.

Freelance accounting services in Dubai with reasonable fees

Advantages of freelance accounting services are:

• Cost effective
• Financial statement is prepared by fellow member of Chartered Accountants
• Complete AFS is submitted to the clients within time frame
• No tax with professional fee
• Quality service
• More discount if sign on 3-5 years consequent service plan
• Discount on company registration in other countries within our branches.

Documents are required to prepare Bookkeeping, Financial Statement and Full Accounting

1. Sales Invoice

2. Purchase invoice

3. Bank statement

4. Payment voucher

5. Salary listing / Pay slip.

6. Statement and receipt of statutory contribution

7. Tenancy agreement (If any)

8. Employment letter for staff

9. Others relevant docs to prepare accounting.

Delivery time of completion of accounting

1. In case of urgent: 3-5 working days.
2. In case of normal: 10-15 days