AccountingAccounting is mandatory for all companies across Dubai / UAE
Bookkeeping is not only a performance measurement for the owners of a company, it is part and parcel of every running business. The goal is that companies can track their expenses to ensure effective financial management. Not only this, step-by-step deployment of the accounting cycle enables the companies to provide better insights to the stakeholders, potential investors, and quantitative information of monetary assets to the state institutions for audits. Also in the UAE and Dubai, it is best practice for any business to ensure compliance with universal accounting standards for higher transparency and accuracy of financial records.
To renew your yearly business licenses it is mandatory to have your accounts audited to receive a license for your business.
If you are new to the business and don’t know any detail about this, don’t worry IMA can help you to achieve this mandatory task for managing business accounts and regulations compliance in UAE. Worldwide there are two most used standards for financial reporting:
- INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
- ACCEPTED ACCOUNTING PRINCIPLES (GAAP)
In simple words said the UAE regulations are expecting IFRS standards for Accounting and Auditing.
Presently, more than a hundred countries in the European Union (EU) and Asia are
actively using IFRS to communicate accounting affairs globally.
However, the USA and Canada are still adhering to GAAP.
IMA International Management is partnering for this task with a world-renominated partner “Excellence Business Accounting and Auditing” which holds many affiliations and accreditations from the best international and national bodies.
The main difference between the two
Accounting is not only relevant for the UAE legal bodies, it might be also relevant for your mother holding or HQ.
You have your personal contact who is accompanying you through the TAX, accounting and reporting procedures
We promise that the personal touch lets you focus on your business success with hassle-free financial procedures and services
At IMA International Management, we believe in high-quality and timely fashion support for businesses. Our consultants are ready to help you to elevate your business to the next level.
Some added value services which we offer are:
- Legal Compliance
- Bookkeeping and monthly misreporting
- Budgeting, cost, and forecasting
- Payroll accounting
- Management Accounting
- Review and reconciliation of accounts
- Physical verification of inventory
- Cost Accounting
- Assistance in VAT Auditing
- Chart of Accounts
Financial Services Request
Frequently Asked Questions
Our company is registered in the Dubai Freezone, can you help me with my accounting and auditing?
Our partners are approved auditors in DMCC, JAFZA, DIFC, DAFZA, DWC, DSO, SAIF Zone, Hamriyah Free Zone, DED, The Dubai Design District (D3), TECOM, Dubai Media City, and Dubai Internet City.
Do you offer service from an approved partner of the Ministry of Economy?
Yes, we partner only with those authorized and approved by the Ministry of Economy under registration no 843.
My UAE bank is asking for an audit report, do you have experience with which formats UAE banks are focusing on?
Yes, our experience shows that reports are widely accepted by all the major banks in UAE.
We have a team of expert professionals that possesses relevant experience in this domain. Our professionals work in close coordination with the clients and carefully analyze their specific requirements.