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Accounting Terms For Business Owners

Basic Accounting Terms

By Alya | Finance Terms | No Comments

Last updated on October 14th, 2019 at 08:12 am Accounting Terms Entrepreneurs go into business with a variety of pre-existing skills. Some are natural salespeople, while others have the ability to come up with ideas that sell themselves. But while there may be a handful of entrepreneurs who are truly financially savvy, the majority cringe at the […]

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types of audit

Types of Audits in UAE

By Alya | Audit Services, Finance Terms | No Comments

Last updated on October 14th, 2019 at 07:48 amTypes of Audit Engagements Audit is an appraisal activity undertaken by an independent practitioner (e.g. an external auditor) to provide assurance to a principal (e.g. shareholders) over a subject matter (e.g. financial statements) which is the primary responsibility of another person (e.g. directors) against a given criteria […]

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Audit Engagement Letter in Dubai

Audit engagement Letter in UAE,Dubai

By Alya | Audit Services, Finance Terms | No Comments

Last updated on October 14th, 2019 at 07:40 amAuditor Appointment /Audit Engagement Letter in UAE,Dubai An audit engagement is an arrangement that an auditor has with a client to perform an audit of the client’s accounting records and financial statements. The term usually applies to the contractual arrangement between the two parties, rather than the […]

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How to read an audit report

By Alya | Audit Services, Finance Terms | No Comments

A better understanding of audit reports will lead to better economic decisions, giving the reader the benefit of an independent opinion on a company’s financial statements. Imagine wading through pages of information to understand a company’s financial position – and without any knowledge of the nuances of financial reporting! The independent auditor’s report is here […]

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accounting_ firms in dubai

Accounting & its characteristic features

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Accounting and its Features Accounting is the process in which business transactions are recorded systematically in the various books of accounts maintained by the organization in order to prepare financial statements. These financial statements are basically of two types: First is Profitability Statement or Profit and Loss Account and second is Balance Sheet. Following are […]

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Audit Report

AUDIT REPORT

By Alya | Audit Services, Finance Terms | No Comments

AUDIT REPORT An audit results in a report which gives an ‘audit opinion’ about whether the financial statements give a ‘true and fair’ view of the state of affairs of the organisation and operations for the period. ‘True’ means that the transaction did take place and that an asset exists. ‘Fair’ means that a transaction […]

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