Proactive Accounting & Bookkeeping – A Benchmark for successful Business

UAE, Very well known for its state of art infrastructure marked as leading commercial center of the world. The government thus committed to excellence to advance the country’s position in obtaining world’s top most as Business Hub. Even through geographical point of view, Investors sees UAE the best picked destination for their business operations since it enables them to setup their base & cater high growth potential markets of Middle East, Africa & South Asia.

Having zero % tax is one main reason why Dubai managed to capture many eyes in seeking this country as their dream venture destination but soon this option is not going to be soothing anymore as UAE government have announced to implement VAT (Value added tax) which is due to be implemented from January 2018 on all products & services. Where one side for new investors this change brings one more module to work on closely than on the other hand it is also challenging ongoing businesses to have a close watch on their business financial standards.

Any kind of business up in market is best rewarding only if the financials of that venture been kept strongly knitted & supervised. But it’s been observed that this practice is very much lacking in UAE may be because till now things were not required to be transparent with government but now after upcoming tax, there raise a great need of sorting out financial discrepancies & errors in order to stand optimum right against government law & regulations. Entrepreneurs often mistake by overlooking accounting & bookkeeping department which results in frequent setbacks, losses & sometime business crash. Not only have to serve the government requirement but auditing & strongly managed finance department also resulted in having countless benefits to uncover. Having controlled department for accounts not only strengthen the business affairs & activities but also ensure close monitoring & analyzing of funds transactions, Banking affairs, Budgeting & forecasting, payroll, profit & loss statements, Balance sheets & of course taxes. In short it is an absolute requirement for business expansion & new initiatives. Accounting fortifying its position as an important department for ascertaining the overall business performance to get hold of trust factor from interested third parties like shareholders, investors, consumers & employees etc. It than equips them with the knowledge & understanding that is essential for successful market strategy & growth initiatives.

Any business entering international market faces kinds of compliance & statutory related challenges. Making efforts in meeting all obligations in controlled, timely & efficient manner can be cost & time consuming process which is why this department mostly been left ignored & unnoticed.

Flying Colour Business Setup Services, Dubai is the leading professionals in setting up successful business practices across the world. Having team of specialist in administrative expertise, tax advisory & business analyst, we at FCBS enables you to have full back office assistance & solutions on regulatory affairs so you left no room for flaws & errors in your business operations. We are well geared to take up the upcoming financial challenges by ensuring timely & cost effective services for all SME’s through our well projected strategies. Considering value for money we takes a pride in introducing well suited customized & economical packages suiting all kind of business needs & requirements. Promising excellence we really value your precious time, Money & Trust which strive us to deliver best up to your expectation..

This blog post is written by Ms. Shweta. Feel free to call our Business Advisor today for a quality consultation relating your Business queries. Please send enquiry to info[at]flyingcolour[dot]com or call +971 4 4542366.