Accounting and Bookkeeping
International Auditing & Consultancy Center, practices in the field of accounting, and bookkeeping. highly professional using clear and simple accounting rules. Our Accounting Department is staffed with highly qualified accountants. who are experts in that field The in-depth knowledge and experience guarantee safe and diligent operations within MENA, GCC, and international standards of accounting. We offer advisory services in this scope, helping you understand the regulations. and utilize modern methods to conduct our bookkeeping. We are committed to delivering innovative solutions that help maximize performance in business transaction processing, billing, collections, accounting of business transactions, and preparation of financial statements, and other areas critical to elevate the role of the finance function in their organization.
What is accounting and bookkeeping?
Accounting is the process of recording and monitoring all operations. and inputs, that represent economic events. according to specific regulations, and financial information that is mainly used by investors, managers of institutions, tax authorities, and the decision-makers segment, to distribute resources within institutions, ]companies, or government agencies, Moreover accounting helps to demonstrate and track the company's activity and the extent of influence on basis of its funds. It helps in accurately preparing the financial statements and accounting is a legal and administrative proof.
There are several types of basic fields, including:
First: government accounting.
It is concerned with monitoring and verifying all processes related to resources related to government activities.
Second: Tax Accounting.
It is the accounting that is concerned and aims to determine the percentage of income and the value of profits for individuals, and it is concerned with the financial sums collected from commercial operations, and there is a tax system that governs it.
Third: Management Accounting.
preparing accounts and accounting data, which administrators use to enhance the role of control over all operations within the organization, and it is closely related to cost accounting because it depends on data analysis.
Fourth: Cost Accounting.
It is concerned with calculating the cost of one unit that is produced in a specific system or a specific work environment, and it helps in reaching the cost of total production based on an inventory of all productive units.
Fifth: Auditing the accounts.
Auditing accounts is the process of examining and auditing all accounts, documents, accounting books, and financial reports carefully and accurately so that the auditor can review and determine the financial budget.
for more information about Accounting and Bookkeeping contact us : WhatsApp: wa.me/971508658209
Definition of bookkeeping:
Moreover, the term bookkeeping is a group of sub-activities for accounting, the main goal of which is to collect, organize, and assist in storing and making available a database of records of financial information, i.e. the so-called financial statements.
Scope of services provided by the Accounting Department:
- Maintenance of accounting ledgers (full bookkeeping, income, and costs account, VAT registers),
- Performance of annual financial reports (consolidated and individual).
- Preparation of monthly reports (balance sheet, profit and loss account).
- Preparation of additional reports in line with the specifications of the Customer.
- Clients towards tax authorities during tax control.
- Preparation of fixed asset amortization plans.
- Development of company account plans tailored to the needs of the Client.
- Preparation of accounting policies,
- Preparation of the internal bookkeeping procedures,
- Assistance in the issuing of invoices and organization of payments
In the world of business, it's impossible to measure the true success or failure of. your business dealings without accurate bookkeeping, you’ll have no idea why you barely. have enough money to operate your business, and you won't know where the money went. A smart business owner realizes bookkeeping has several undeniable benefits.
if you are interested in Accounting and Bookkeeping contact us : WhatsApp: wa.me/971508658209