Every business small or
big, requires the assistance of a qualified accountant. This is because every
business entails tasks that require professionals or experts in economic
matters. The main goal of hiring a chartered accountant is to increase profit
and lower cost of the company. Below are listed some main benefits of employing
a chartered accountant in Dubai.
- New business setup: An accountant is one who possesses a vast amount of knowledge to keep you updated on the risks involved in manifesting particular business formats. He/she will guide you on whether you should be working in partnership or as a single proprietor.
- Efficient record keeping: Every business registered for the VAT taxes should keep records of their finances in order to estimate tax payments. An accountant prepares accurate management figures and also points out the plausible implications of expressing certain financial decisions.
- Better cost control: The accountant works with the company to draw very realistic budgets in order to analyze the company's performance based on the budget. After a thorough estimation they can provide you with tips to control or balance fixed and variable expenses. They also make sure to note that day-to-day business dealings are error-proof and cost-effective.
Other responsibilities of
accountants or accounting firms in Dubai
include book keeping, auditing, recording financial statements and tax
filings. However, the need of chartered accountants or a reliable accounting
firm starts to arise even before the setup of a new business.
When I was a child I always wanted to be an accountant like my auntie.
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