The key components of the financial accounting services and statements in Dubai are the income statement, balance sheet, and statement of cash flows,tax UAE, Virtual CFO.
A company’s financial statements provide vital information about its financial health. These statements are compiled based on day-to-day bookkeeping that tracks funds flowing in and out of the business. The key components of the financial statements are the income statement, balance sheet, and statement of cash flows.
Income Statement – The income (or profit & loss) statement tells you the performance of your company. It shows the revenues earned and related expenses covering a certain period of time like a fiscal year. This statement is designed to show you if you made a profit.
Balance Sheet – The balance sheet is designed to show you a picture of your assets and liabilities (debts) at a point in time.
Cash Flow Statement – The cash flow statement reconciles the net profit from the income statement to the amount of cash generated for that same period of time.
These statements are designed to be taken as a whole, to present a complete picture of the financial condition and results of a business. It is important to have accurate and timely financial statements to understand and run your business.
ZenFinance accounting team in Dubai takes a proactive approach, providing you internally produced management reports and the latest ideas on techniques for improving the efficiency and effectiveness of your organisation.
In addition to financial reporting services, we work with you to keep you informed of accounting developments that will impact your business. You will receive valuable insights on policies and procedures to help keep your organization on the right track.