Trusted Partner for Accounting Services Dubai, UAE

Accounting & Financial Reporting

Accurate accounting and financial reporting are critical for any business. TAG understands the importance of providing reliable financial data that adheres to local regulations.

Services:

Preparation of financial statements (income statements, balance sheets, cash flow statements).
Analysis and interpretation of financial data.
Compliance with Dubai tax laws and international accounting standards.

Bookkeeping

Bookkeeping involves systematically recording and organizing financial transactions within a business, crucial for financial management and regulatory compliance.

Services:

Tracking transactions and managing accounts.
Utilizing advanced software for accuracy and efficiency.
Ensuring compliance with UAE laws and regulations.

Accounts Payable & Sales Ledger

Managing accounts payable and the sales ledger effectively is essential for maintaining cash flow and financial health.

Services:

Streamlining invoice processing and payment scheduling.
Tracking outstanding invoices and following up on payments.
Providing expert advice on optimizing credit control procedures.

Account Reconciliation

Account reconciliation ensures accuracy and consistency by comparing and adjusting financial records.

Services:

Conducting thorough reviews of financial data.
Identifying discrepancies and providing proactive recommendations.
Enhancing financial controls to minimize risks.

Accounting Software Integration

Accounting software transforms financial management by automating tasks such as bookkeeping and reporting.

Services:

Expert guidance on selecting and implementing accounting software (e.g., Xero, QuickBooks).
Tailoring software solutions to meet your business needs.
Providing ongoing support and training to ensure effective use of software.

Why Choose TAG Consultancy and Outsource Your Accounting Services

From startups to multinational corporations, TAG caters to businesses of all sizes and industries, providing personalized solutions that align with your business's goals and objectives.

Expertise: Highly skilled professionals with diverse backgrounds and extensive experience in Dubai tax regulations and practices
Tailored Solutions: Customized accounting packages to meet specific business needs, whether in Dubai mainland or free zones
Technology Integration: Leverages cutting-edge technology and industry best practices to streamline processes
Cost-Effective: Budget-friendly services designed to optimize resources and mitigate risks
Client-Centric Approach: We focus on understanding our client's business model and objectives

Benefits for Businesses

Ensures compliance with local regulations and international standards
Provides expert guidance on complex tax laws and regulatory requirements
Offers personalized solutions for businesses of all sizes, from startups to multinational corporations
Streamlines financial processes, enhancing efficiency and transparency
Supports strategic decision-making through accurate financial reporting and analysis

By choosing TAG Consultancy, your businesses can navigate the intricate accounting landscape in the UAE with confidence, ensuring financial accuracy, regulatory compliance, and strategic financial management to support growth and success in this competitive market.

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FAQ

What is the accounting requirement in the UAE?

The accounting requirements in the UAE encompass adherence to International Financial Reporting Standards (IFRS) for financial transparency, Value Added Tax (VAT) compliance, accurate financial reporting, annual audits, corporate governance principles, compliance with commercial laws, and adherence to free zone regulations for companies operating within them. Complying with these regulations ensures legal adherence, financial integrity, and accountability, with professional guidance essential for navigating UAE accounting requirements effectively.

Are Free Zone Companies required to appoint an accountant?

Yes, companies operating within free zones in the UAE are typically required to appoint an accountant. Free zone authorities often mandate that companies maintain proper accounting records and submit financial statements annually or as per the specified reporting requirements. Hiring an accountant ensures compliance with these regulations, accurate financial reporting, and adherence to accounting standards, contributing to the overall financial integrity and transparency of the company's operations within the free zone.

What accounting software is commonly used in the UAE, and what are their features?

Popular accounting software used in the UAE includes Xero, QuickBooks, and Sage. These platforms offer features such as automated bookkeeping, invoicing, expense tracking, and financial reporting, facilitating efficient accounting management for businesses of all sizes.

What are the regulatory requirements for financial reporting in Dubai?

Financial reporting in Dubai is primarily regulated by the UAE Federal Law No. 2 of 2015 concerning Commercial Companies, which outlines the obligations for companies to prepare and submit financial statements annually. Additionally, the UAE Securities and Commodities Authority (SCA) regulates financial reporting for publicly listed companies and requires adherence to International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP).

How often are financial statements required to be submitted to regulatory authorities in Dubai?

Companies in Dubai typically must submit their financial statements annually, within 90 days from the end of their financial year. However, specific submission deadlines may vary depending on the regulatory authority overseeing the company's activities and its legal structure.