The United Arab Emirates mandates that businesses undergo an annual audit to ensure adherence to common standards and the maintenance of precise financial records. Nonetheless, selecting an appropriate auditing company…
Top Accounting Firms in Dubai
Dubai, a city characterized by rapid growth and emerging as a vibrant center for business and commerce, has witnessed an exponential surge in demand for accounting services. This demand stems…
The Importance of Organized Bookkeeping: Pros and Cons
Maintaining well-organized books of accounts is crucial for any business’s success. This article explores the advantages and disadvantages of keeping financial records in order and highlights the significance of professional…
How to Select the Best Accounting Firms in Dubai for Your Business Needs
As a business owner in Dubai, choosing the right accounting firm is crucial to ensure your finances are in order and your business can thrive. However, knowing where to start…
Business setup in Ajman Free Zone
Objective of Ajman Free Zone Ajman Free Zone (AFZ) was launched in 1988,it was formed with an objective to provide the businesses and investors a sustainable environment to help them…
Whether used cars are subject to VAT?
This is an updated article of the same subject line “Whether used cars were subject to VAT?” which appears in the blog section at (https://www.spectrumaccounts.com/whether-used-cars-were-subject-to-vat/). The below article is a…
Is outsourcing the accounts beneficial to your business in Dubai?
Yes, outsourcing the accounts is beneficial to your business in Dubai and UAE. Generally any business owner who is willing to outsource the accounting and bookkeeping works to an outside…
Profit Margin Scheme v2
{This blog is an updated version of our old blog on ‘Profit Margin Scheme’ present here at: https://www.spectrumaccounts.com/profit-margin-scheme/ and currently the blog is shared in a more useful question &…
Adjustment on account of bad debt relief
Adjustment on account of bad debt relief Summary of the FTA clarification: A public clarification has been issued by Federal Tax Authority (FTA) in relation to VAT adjustment on account…
IFRS 15 REVENUE FROM CONTRACTS
The core principle of IFRS 15 is that an entity shall recognise revenue from the transfer of promised goods or services to customers at an amount that reflects the consideration…
Going Concern Standard ISA 570 ( REVISED )
The going concern review can require significant judgment to be applied and the impact of external factors, such as significant global events, can make the assessment of management’s going concern…
UAE Federal Decree-Law No ( 19 )
Federal Decree-Law No (19) regarding Trusts was issued to support the asset management sector in the country, provide new mechanisms for managing family businesses and assets, and encourage charitable trusts.…
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