Accounting | Bookkeeping | Financial Advisory | VAT & Audit Consultancy in Duabi

The United Arab Emirates is on its way to become a business center by focusing its efforts to be the largest business attract in the world. And the more business develops, the greater of the demand for accounting services.

The accounting system for any company is a very important matter from an organizational and administrative point of view, and on the basis of which the extent of the company’s organization and its readiness for success is determined, and from it, ASMK can support your company in the fields of accounting and preparation of financial statements and reports, which results in organizing the work and providing the ideal operating environment for its customers to improve the quality and output of their business.

The laws of the United Arab Emirates stipulate that all companies are bound by the existence of accounting books that are subject to the International Financial Reporting Standards (IFRS), and therefore ASMK is honored by its ability to provide accounting services and keep books to its clients in a professional manner.

Maintaining financial records
Archiving and maintaining financial documents
Preparing financial statements
Inventory management "additional services"

Maintaining Financial Records

The maintaining of financial records is nothing but a real representation and description of what is done on the ground of financial records with the aim of showing the financial performance of the companies and providing the necessary accounting reports to describe their business financially, and to perform this, there are several stages required by ASMK to be able to reach the best way in maintaining financial records in the accounting system for clients as follows:

Create an advanced accounting system for the client that corresponds to the nature of work.
Client training on how to prepare and deliver financial files.
Entering data and maintaining daily records in the correct accounting manner.
Processing accounts payable and accounts receivables.
Bank reconciliations

Archiving & Filling the financial Documents

Accounting documents are written paper documents that maintain records, events, and other economic processes, and they are evidence that supports the maintaining processes in the accounting books when these documents were produced.

Article (1) of the Accounting and Bookkeeping Law No. (82) issued in 1991 (and subsequent amendments and additions made to it) states that all persons who are obligated to keep accounting books must keep and archive accounting documents and the corresponding supporting documents, so this is the basis on which the people who maintain in the accounting books shall adhere to it.

ASMK Accordingly, ASMK provides, as a part of its services, the archiving and bookkeeping services as a part of its service in a correct manner, which ensures the ease of obtaining any document at any time easily and conveniently according to the latest archiving systems.

Financial statements preparation

Financial statements are the means by which companies can know the financial results and analyze their financial performance during a specific financial period and also, it is the main desired goal of the book-keeping process, and as it is internationally followed, every company shall prepare four financial statements periodically, which these lists together represent the strength of the company that reflects its profit and financial position, so that these financial statements are as follows:

Financial statements are prepared in the following order:

Income statement
Financial position statement
Cash flow statement
Property rights statement

Inventory Management

Inventory management is the process of controlling assets, inventory, and its items because this process is one of the components of the supply chain management. Therefore, inventory management controls the flow of goods from producers to warehouses and from warehouses to points of sale.

The primary function of inventory management is to keep a detailed record of every product or return as it enters or exits from the warehouse or to the point of sale.

Accordingly, ASMK offers five effective software tools for inventory management as follows:

Reorder Alerts
Inventory reporting system
Graphic dashboards
Barcode
System integration