Accounting & Bookkeeping Services
MASAR is a leading accounting and bookkeeping firm in Dubai providing solid, reliable, and efficient accounting services in the UAE. We are a team of skilled professionals with years of experience with the Big 4 and a leading auditing firm in Dubai. We are experts in Dubai Accounting Standards, and we are also experts in International Financial Reporting Standards (IFRS) and International Accounting Standards.
Accounting & Financial Reporting
Accounting and financial reporting are important for tracking an company’s financial activities, ensuring transparency and accountability, and aiding decision-making by various stakeholders. Adherence to accounting standards and principles is crucial to maintaining credibility and trust in financial reporting.
Updating of Backlog Accounts
Updating backlog accounts involves bringing overdue or pending financial transactions up to date. This typically occurs when there has been a delay in recording or reconciling transactions in the accounting records. Updating backlog accounts is essential for maintaining the integrity of financial records, complying with accounting standards and regulations, and providing reliable financial information. It helps ensure that the financial statements accurately reflect the company’s financial position and performance, which is crucial for making informed business decisions and maintaining trust with partners, investors, and creditors.
Fixed Assets Management
Fixed assets management is a part of accounting that involves the acquisition, tracking, depreciation, and disposal of long-term tangible assets within an organization. These assets, often referred to as “property, plant, and equipment” (PP&E), are essential for business operations and typically have a useful life extending beyond one accounting period. Effective fixed assets management is essential for accurate financial reporting, as it ensures that the value and condition of assets are accurately reflected on the organization’s balance sheet. Proper management also helps in optimizing asset utilization, reducing maintenance costs, and complying with accounting standards and regulations.
Standard Operating Procedures
Standard Operating Procedures (SOPs) as know as Owners rules and regulation in the field of accounting by providing a structured framework for various accounting processes and activities. SOPs are documented guidelines that outline the step-by-step procedures and best practices to ensure consistency, accuracy, and compliance in accounting operations. Standard Operating Procedures in the accounting view are essential for maintaining consistency, accuracy, and compliance in financial processes. They serve as a guide for employees, help in auditing and regulatory compliance, and contribute to effective financial management within an organization. Well-documented SOPs are a fundamental part of good governance and financial control.
Accounts Supervision
Accounting supervision is a critical component of financial management within an organization. It involves overseeing and managing the accounting function to ensure that financial transactions are accurately recorded, financial statements are prepared in accordance with accounting standards, and internal controls are followed accounting supervision is essential for maintaining the integrity of financial information, ensuring compliance with accounting standards and regulations, and supporting effective financial management. Accounting supervisors play a crucial role in upholding the accuracy and reliability of financial data, which is vital for decision-making, financial reporting, and organizational success.
Inventory Verification
Inventory verification is a fundamental accounting process that involves physically counting and reconciling the actual physical inventory on hand with the inventory records maintained in an organization’s accounting system. This process is crucial for accurate financial reporting, cost management, and maintaining control over a significant asset on the balance sheet. inventory verification is a critical accounting process that ensures the accuracy of financial records, compliance with accounting standards, and effective internal controls. It impacts financial reporting, cost management, and overall financial health, making it an essential element of accounting operations for businesses that maintain inventory.