Balance sheet services from Atton Consulting: everything for your success

Balance sheet in the UAE: necessity and importance

The balance sheet in the UAE is the necessary part of accounting and one of the main reports of the organization. The preparation of the balance sheet is a requirement of corporate law. There is no income tax and other major taxes in the UAE, so there are fewer accounting and balance sheet requirements. However, the systems of account records and transaction records are also regulated here, since the accuracy of reflecting business information is important for the Emirates authorities.

The Emirates use Generally Accepted Accounting Principles (GAAP), at the same time the regulator has obliged part of the business to comply with the requirements of International Financial Reporting Standards (IFRS). In order not to get confused in reporting systems, please contact Atton Consulting experts for consulting support, we will take on the responsibilities of accounting and reporting. Professional compliance with the requirements of legislation on administration is part of our work!

In Dubai, the management of the company is responsible for the objectivity of the balance sheet and financial statements that are provided to shareholders. An increasing number of government departments in the UAE have requirements for filing information. Its reliability and openness are necessary for regulatory authorities, as well as for license renewal procedures.

Accounting services and balance sheet preparation: offers Atton Consulting

The qualifications and experience of our company's accountants allow us to provide a wide range of services for business, including the ones on a remote basis. The activities of your company may be diverse, but in any case, you need standard accounting services: outsourced accounting, taking into account GAAP and IFRS, adjusted in accordance with local circumstances; preparation of financial reports on a monthly basis.

As part of the balance sheet, Atton Consulting specialists will ensure proper compliance with all procedures and requirements:

trial balance accounting;
accounting of assets, liabilities and equity;
accounting for warrants on the balance sheet;
compliance of the debit and credit balances in the accounting statement;
balance of advance payment, advance income, prepayments in the balance sheet;
balance sheet on cash;
balance check;
debit and credit statement;
off-balance sheet accounting;
preparation of a worksheet in accounting;
balance of repair and maintenance costs;
balance of expenses for supplies and other.

What is necessary for the quality provision of accounting services by our professional team:

Type of service	Documents, procedures, requirements
Bookkeeping	Sales and purchase journals and other journal entries are required. All transactions for payments and funds received must be recorded. Permanent accounting of receivables and payables. Records of acquired assets and depreciation. Accounting for prepayments and charges will be required.
Preparation of financial statements	A package of reports will be ready in the required time and in accordance with the requirements that apply to your business

We will prepare for you not only a balance sheet, but also a monthly reporting package for clients, a statement of income and separate expense schedules, and a cash register. We will take over the maintenance of accounts payable, make calculations based on records and documents, information and explanations received from the management of your company. Get even more offers at the first consultation of our managers!

FAQ

Who regulates bookkeeping and balance sheet preparation in Dubai?

Despite the fact that accounting is regulated in the UAE, there is no single state body in the country that reviews audit reports and other documents. At the same time, special agencies have been created in free economic zones, for example, the Dubai Financial Services Authority (DFSA). Its powers territorially extend to the free economic zone Dubai International Financial Center (DIFC). At the same time, the Association of Accountants and Auditors (AAA), the national accounting body in the UAE, is active in the Emirates. The Association has acted as a developer of many initiatives that contribute to the strengthening of professionalism in the industry. To find out the accounting requirements for your company, please contact Atton Consulting. We will help to bring your accounting system, reporting and workflow in line with the law. And also we will offer profitable solutions for your business with outsourced service!

What is a balance sheet in the UAE and what does it include?

The balance sheet is a form of consolidated financial statement, which reflects the assets, liabilities and share capital of the company. This document is one of the main reports of the organization. On its basis, a business analysis is built, an assessment of the financial condition is given, and management decisions are made. The balance sheet contains financial figures as of a certain date and does not show trends over a period. Contact our certified specialists for the service of compiling a balance sheet. With Atton Consulting, any of your reports will be prepared on time and in full!

What is the purpose of a balance sheet?

What is the balance sheet structure in the UAE?

The balance sheet consists of three major sections: assets, liabilities and equity. They are divided into subsections, for example, assets include property, plant and equipment, which includes real estate and vehicles. Assets also include intangible assets such as intellectual property, software, patents, etc. Liabilities contain liabilities - accounts payable, payments on bank loans, leasing, placed securities, etc.

Our qualified specialists will prepare your balance sheet in full compliance with the requirements. Contact Atton Consulting in Dubai for balance sheet preparation services and get a flawless report. It can be presented to regulatory authorities, shareholders and investors!

How do you know if the balance sheet is correct?

In a duly prepared balance sheet, assets equal the sum of liabilities and equity.

If I need not only a balance sheet, but also other financial statements, can I order all this from Atton Consulting?

Yes, our company has advantageous offers for the preparation of balance sheets and financial documents, such as:

report about incomes and material losses;
statement of comprehensive income;
statement of financial position;
cash flow statement;
statement of changes in equity.

You can contact us for the services of preparing and filing VAT returns, payrolls and other documentation.

Do you help prepare balance sheets and financial statements for audit purposes?

Yes, Atton Consulting is an experienced outsourcing provider of accounting, audit (over partners), tax, payroll and other administrative functions. Our experts will set up an accounting system based on the specifics of your business, conduct internal audits and other types of verification, and prepare financial statements for any audit.