Business Behavior Hub

Most associations these days are utilizing the fair scorecard to have great execution measures. This is on the grounds that this permits them to survey and control the general execution of their organization. Each entrepreneur should remember that it is so imperative to review the money related papers and measures that are identified with budgetary execution. Be that as it may, everything ought not end here. There is a need to begin auditing firm scorecard since this is the place you will have the option to see the legitimacy, the qualities and shortcomings and the handiness of the measures that will drive amazing monetary outcomes. In any case, not all organizations can do this. At the point when they start to comprehend the significance of audit firms in Dubai scorecard, this is the point at which they will have the option to appreciate the advantages. Presently it is crucial that you comprehend what scorecard review is about. When contrasted with different sorts of auditi...

If you are self-employed, an entrepreneurial, an investor, a stakeholder or own a company, it is extremely suggested that you should appoint a chartered accountant (CA). Because they provide best advice's regarding tax and business and help you in accomplishing your goals related to finance. They spend a large portion of their lives in dealing with taxes and taxation. After reading this article you would be more clear and can make wise decision on whether your company required a chartered accountant or not? And more specially, why appointing a chartered accountants in Dubai has more advantages and how they add value pinyon business. Reasons of hiring a chartered accountant: The main reason for hiring a chartered accountant is to boost a business. In the current and modern era of business there is a great need of hiring a professional for the success of any business. It is not compulsory that you should hire a chartered accountant for your company or business but an unq...

Financial Accounting: Financial accounting plays an essential role in Islamic banking in setting and establishing a peaceful integration among different parties concerned in banking transactions. Islamic accounting gives the information which users of the financial statements of Islamic banks depending on assessing the Islamic bank’s extent of compliance with Shari’ah and defining rights and obligations of all interested parties under the principles of Shari’ah. Similarities between Islamic Accounting and Conventional Accounting: There are numerous similarities between Islamic and conventional accounting services in Dubai , as both are about presenting useful economic information to permit users to make wise decisions by facilitating comparisons and thereby lowering the cost of assessing alternatives investments. However, the nature of transactions in Islamic organizations that deal within a Shari’ah framework is different, as Islamic organizations have to contribu...

The value-added tax regime in the region will have a significant impact on business operations and profitability. Companies dealing in goods and services that invite the tax must understand and prepare for the implications. Similarly, entities that import products or transact with Zero-Rate or Tax Exempt entities must, at an initial stage, consider the impact of value-added tax. Group of companies with operations in other GCC countries must carefully review the impact of intra-group and cross-border transactions. While there is a unified VAT agreement across GCC, each member state has the right to enact its laws within the broad framework. These different treatments have to be understood. Step to being a value-added tax Ready: Here is a simple four-step guide to support companies in the UAE to prepare for value-added tax implementation, which can take between 8 and 12 months. It may take  prolonged if some of the activities are outsourced, for example, Information T...

Performing an audit has numerous benefits for the company, but many misunderstandings and rumors are going around regarding the auditing of a company. These are some of the myths that prevent us from conducting an audit, which ultimately hampers the company. The most prominent misunderstandings/myths that every business person should know about audits are explained below: Auditing is considered a Boring Profession: It is normally agreed upon by everyone that professions such as auditing and accountancy are very droll and very boring. Whenever we say auditors, a figure of a skinny person with thick glasses sitting in front of a large ledger resembles in our mind. This thought is just a fantasy of our vision. In reality, the accounting services and audit firms in Dubai have seen a visible disruptive revolution in the job. Nowadays, everything is done online or via a computer. Various soft wares help in reducing the time of a process, which would have taken days to ...

Financial Awareness of Business Owners Financial awareness has been enhanced a lot by international investors in the United Arab Emirates (UAE). The global business community observes it quite safe and profitable to invest there because of a developed and efficient Economy. The complexity and intensity of the financial services in Dubai, UAE, has attained such a great extent that it now requires the audit firms to estimate the financial institutions carefully. The audit work has become challenging day by day, thus, making it more robust for the audit firms to sustain the standard of its work. The international accounting markets and standards trends are rapidly changing, and it has raised the need for stricter audit demands. Therefore, the practicality and reliability of the financial set up in Dubai are made possible because of the provision of refined and better audit services. Consequently, the audit in Dubai has emerged as one of the critical areas of the financial/monetar...

The Dubai, UAE, cabinet has approved the entire list of all the administrative VAT Fines and vat Penalties in UAE that may be imposed on businesses for violations of the VAT laws. Administrative penalties are additional amounts imposed on a taxable person for breaching the provisions of the VAT Law. The following are some of the steps which i nvite administrative penalties under VAT in UAE. Actions on Administrative penalties under VAT in UAE All actions inviting penalties under VAT Administrative penalty (subjected to change) When a taxable person, fails to display prices inclusive of VAT 15,000 AED Failure to notify FTA regarding the charge of tax based on margin 2,500 AED Failure to comply with maintenance of the record of goods within designated zones or moving them to other designated zones Higher of 50,000 AED or 50% of chargeable tax Failure while issuing a tax invoice or an alternative docu...

The United Arab Emirates is developed into a rewarding business scene. Among one of its Emirates, Dubai, offers convincing foundation and an amicable business condition which is exceptionally helpful for new business arrangement. Having indulgent government strategies, simplicity of setting up an organization, straightforwardness in business exercises, and immense supply of labor pulls in scores of business visionaries from around the globe. Each business little or huge needs a clerk/bookkeeper who will deal with their funds. Entrepreneurs today acknowledge like never before that in the event that they are not cautious about their accounts, they before long won't be ready to go. It tends to be costlier for littler organizations to name a full-time clerk or bookkeeper, re-appropriating this capacity has gotten extremely alluring to entrepreneurs and an incredible open door for accountants or bookkeepers to fire up their very own accounting or bookkeeping business in Dubai....