VVAS Global Archives - Page 5 of 6

In 2023, Small Business Owners Should Plan Their Taxes At The End Of The Year

Leave a Comment / Blogs, Business Setup, General, Tax Compliance / admin

As the tax season approaches, small business owners will inevitably start thinking about how to lower their business taxes. Whether you have completed a year or are a small business owner, running a successful business takes a lot of planning. As a small business owner, there are trade-offs between marketing strategy, inventory, budget, and taxes. […]

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Accounting Estimates: How Do Auditors Evaluate Them?

Leave a Comment / Audit Firms, Audit Firms In Dubai, Blogs, General / admin

When audit companies in Dubai report their financial results, they are usually based on estimates prepared by management. Examples include provisions for bad debts, guarantee obligations, pending litigation costs, impairment of goodwill, and fair value of acquired intangible assets. How do auditors in Dubai assess whether the amounts for these items in the financial statements

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Why It’s Beneficial To Outsource Payroll

Leave a Comment / Accounting Firm, Blogs, Consultancy Firms, General, VVAS GLOBAL / admin

Payroll processing goes beyond collecting employee hours, calculating wages, and issuing paychecks. Payroll administrators must meet federal, state, and local requirements. Outsourcing payroll can help employers save time and money. Employers can focus on business growth initiatives by not having to spend hours on administrative tasks, and increased accuracy can avoid costly penalties. What is

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The Six Most Important Factors To Consider When Choosing The Right Auditing Company In Dubai

Leave a Comment / Audit Firms, Blogs, General / admin

Every company registered in the United Arab Emirates must be audited following the laws of the United Arab Emirates to generate income. In addition, check record books, taxes due, refunds, and other financial or non-financial matters. There are various types of audits, such as internal audits, external audits, statutory audits, excise audits, financial audits, VAT

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Business Development and Ethics: What Are The Benefits in 2023?

Leave a Comment / Blogs, General, Lifestyle / admin

Business ethics enforce the law by defining acceptable behavior not subject to government control. Auditing companies in Dubai build business ethics to promote the integrity of employees and gain the trust of key stakeholders such as investors and consumers. While corporate ethics programs have become popular, quality varies. What are business ethics? Business ethics are

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Consultancy Firms Look For The Following 10 Skills

Leave a Comment / Blogs, Consultancy Firms, General / admin

The quality of advice and the value you get is in the eye of the beholder. So whether you’re looking to hire a consultancy to generate new ideas for your business, gain a consultant’s expertise and experience, or grow your business, these skills will ensure you find the right firm and make your engagement work

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The Importance and Implications of Systems Accounting in Business

Leave a Comment / Accounting Firm, Blogs, General / admin

The word accounting is a ubiquitous word that we often hear in our daily life. Before diving into other aspects of accounting and why accounting is essential, let’s understand what it is. In layman’s terms, “accounting is the process of recording, summarizing, analyzing and recording the financial transactions of enterprises.” Accounting is one of the

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Who Are The Big 7 Accounting Firms In 2023?

Leave a Comment / Accounting Firm, Audit Firms, Blogs, General / admin

Accounting and auditing are specialized fields, but auditing has a wider range than accounting because it requires a solid understanding of various acts, and taxation rules, knowledge of accounting and auditing standards, and communication skills. Apart from this, confidentiality, integrity, honesty, and independence are basic requirements that must be maintained when performing audit procedures. The

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UAE Tax Rules Relaxed, Penalties Reduced In The UAE

Leave a Comment / Audit Firms In Dubai, Blogs / admin

Here is the good news, some of the penalties and tax rules are reduced in a recent cabinet meeting to ease the business and taxpayers. The UAE Cabinet recently confirmed several updates to the administrative penalties applicable to companies violating taxes in the country. As part of Cabinet Resolution No. 49, several incentives were introduced

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Why Do We Do Financial Audits In 2023?

Leave a Comment / Audit Firms, Audit Firms In Dubai, Blogs, General, VVAS GLOBAL / admin

The company keeps records of all financial transactions. Accountants manage and maintain these records and create reports based on them. A company’s financial statements can be used both internally and externally. Management typically uses detailed data daily, weekly, and monthly to control the company’s performance and productivity. Detailed data helps companies set goals and determine

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