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    • Payroll Maintenance
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  • Explore+
    • About
  • Accounting +
    • Accounting & Financial Services
    • Payroll Maintenance
    • Book Keeping
    • Annual Audit Assistance
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    • Projected Financial Statement
    • Budgeting & Forecasting
  • VAT +
    • VAT Consultation & Registration
    • VAT Return Filing
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Accounting
Financial Services

Accounting and Financial Reporting Services in the UAE: Recording the transactions of a company is an integral factor that contributes to the growth of the company. Accounting helps a business to track its income and expenses, thus reflecting the result of the operation.

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Accounting and Financial Reporting Services in the UAE

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Customers
Regular Accounting Services

The daily transactions of the company are recorded in the accounting software on a periodic basis and reports are generated on a monthly/quarterly basis, followed by financial analysis with the management.

Weekly Visit: Our associate will visit your office on a weekly basis and update all the transactions of your company, which includes recording the purchases, sales, receipts, payments, and other business transactions, recognizing transactions on an accrual basis, and ensuring transactions and documentation comply with the UAE VAT Law.

Monthly Visit: If the number of business transactions of the company is comparatively less, one / two visits will be sufficient to complete updating the books of accounts. Our associate will visit the clients’ office at the end of every month/beginning of the next month and update the transactions company, which includes recording the purchases, sales, receipts, payments, and other business transactions, recognizing transactions on an accrual basis, and ensuring transactions and documentation comply with the UAE VAT Law.

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Why Choose Us

There are many reasons for you to choose our VAT return filing services in Dubai and UAE.

Sound Decision Making

LAS helps clients make sound business decisions by providing quality finance and accounting services, using innovative tools.

Advanced-Data Quality

With digitization technologies, our financial specialists can scan, index, and record data correctly. Our accounting and bookkeeping services ensure the right quality of data.

Accessibility & Flexibility

With LAS ’s accounting and bookkeeping outsourcing services, our specialists scale up the work processes. With more flexibility, you will get direct benefits.

Confidentiality and Rigorous Security

Excellence Accounting Services follow stringent principles to ensure data confidentiality. Accounting and bookkeeping information would be treated with the utmost discretion.

FAQ

Most frequent questions and answers
What is Financial Reporting?

Ans: Financial reporting is the process of disclosing the financial results of an organisation. These reports are used by the shareholders and public for decision making. Financial reports include an income statement, balance sheet and statement of cash flows.

What is the difference between Financial Accounting and Financial Reporting?

Ans: Financial Accounting is the process of recording day to day monetary transaction of an organisation, whereas Financial Reporting is the process of summarising the recorded data and present the same as per Standard Policies, and the same used for decision making purpose.

What are the types of Financial Reporting?

Ans: There are mainly 4 types of Financial Statements are used for financial reporting purpose that includes;
a) Balance Sheet – Showing the Asset and Liability position of the business on a specific date.
b) Profit & Loss A/c – Reveals Income and Expenditure for the financial period/year.
c) Cash Flow Statements – Depicting movements of Cash.
d) Statement of changes in Owners/Shareholders Equity

Is Financial Reporting part of Accounting?

Ans: Financial Reporting usually considered as the final outcome of accounting works done, so it is part of accounting.

What is the difference between the Balance Sheet and Profit and Loss A/c?

Ans: A Balance sheet draws the picture of how effectively a company using their resources. It depicts the asset and liability status of the organisation. A profit and loss account summarises the revenues and expenses incurred during a specific period.

What is the difference between Cash Flow Statement & Fund Flow Statement?

Ans: A Cash Flow Statement is a statement showing changes in the cash position of the firm from one period to another. It explains the inflows (receipts) and outflows (disbursements) of Cash over a period. The inflows of Cash may occur from the sale of goods, sale of assets, receipts from trade receivables, interest, dividend, issue of new shares and debentures, raising of loans, short-term borrowing, etc., The cash outflows may occur on account of purchase of goods, purchase of assets, repayment of loans, payment of tax and dividend, etc.. The cash flow statement comprises information on operating activities, investing activities and financing activities.
Funds Flow Statement states the changes in the working capital of the business in relation to the operations in one period. The main components of Working Capital are Current Assets and Current Liabilities. Funds flow statement explains the various sources from where the funds generated with various uses to which they are put.

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Leaders Accounting Services Est. is a leading professional accounting & book keeping firm, Head-quartered in Abu Dhabi, UAE.

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Medicina pharmacy building
Office No.MO3
Airpot road, Opposite al wahda mall
Abu dhabi,UAE

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+971 2 6222 120

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