AS the premier accounting and auditing firm in the UAE, DNC is dedicated to providing comprehensive Accounting and Financial Reporting Services in Dubai and across the entire UAE. Our services are designed to assist clients in presenting their company’s financial status accurately to various stakeholders, including investors, creditors, clients, suppliers, and government agencies. Our commitment is to ensure that the financial statements comply with the International Financial Reporting Standards (IFRSs), reflecting a commitment to global best practices.
The detailed financial reports prepared by DNC serve as a vital tool for evaluating your company’s financial performance across both past and ongoing financial periods. By leveraging our expertise, clients gain insights into their financial health, allowing for informed decision-making and strategic planning. Our focus on adherence to international standards ensures transparency and credibility in financial reporting, fostering trust and confidence among stakeholders.
Financial Analysis Report
At DNC, we understand the significance of accurate and transparent financial reporting in today’s dynamic business environment. Our tailored Accounting and Financial Reporting Services aim to provide clients with a clear understanding of their financial position, facilitating informed decision-making and contributing to the overall success of their business endeavors.
DNC Accounting and Financial Reporting Expertise in Dubai and UAE
For numerous years, DNC experts have been at the forefront of providing exemplary Financial Accounting and Reporting services in Dubai and the UAE. Financial accounting, a specialized branch of accounting, involves the meticulous recording of a company’s financial transactions. The primary objective is to present the company’s financial performance and status to various stakeholders, including investors, creditors, suppliers, government agencies, and clients.
Given the regulatory landscape, DNC adheres to the UAE Commercial Companies Law No 2 of 2015, which mandates the application of international accounting standards and practices in the preparation of company accounts. The IFRS Standards are obligatory for companies listed on NASDAQ Dubai.
DNC’s Accounting and Financial Reporting Process:
Double Entry System: DNC aids companies in preparing the double-entry system, ensuring that for every transaction, sums are recorded in a minimum of two accounts. This system maintains the equilibrium between debits and credits, a fundamental principle for accurate reporting.
Ledger Entry: Ledger entries are meticulously recorded statements of business transactions, including the correct date, totals to be debited and credited, account details, and a unique reference number (URN). DNC ensures proper and accurate ledger closing as per management reporting requirements.
Trial Balance: Following ledger preparation, DNC compiles a trial balance, listing all general ledger accounts and their balances. Each account carries either a debit or credit balance.
Financial Statements: DNC proceeds to prepare financial statements, including the Income Statement, Balance Sheet, Equity Statement of Shareholders, and Cash Flow Statement. These statements offer a comprehensive overview of the company’s financial health.
MIS Reports and Additional Services: DNC extends its services beyond financial statements to include Management Information System (MIS) reports, aiding decision-making. Some of these reports encompass:
Comparative Income Statement
Customers and suppliers aging report
Profitability Analysis Report
Preparation of Auditing Schedule
Detailed Financial Statements
Income Statement: DNC analyzes all financial transactions, including non-cash ones, to determine the net income for the financial year.
Balance Sheet: Prepared based on the equation “Assets = Liabilities + Shareholders’ Equity,” the balance sheet reflects the company’s financial position.
Shareholders’ Equity Statement: Tailored for limited liability companies, this statement provides transaction-wise details of parties.
Cash Flow Statement: This statement analyzes cash inflows and outflows, helping management make informed decisions regarding collections, credit policies, investments, and business diversification.
Accrual Basis and IFRS Standards
DNC emphasizes that all accounting reports are prepared on the accrual basis, adhering to IFRS auditing standards.
In essence, DNC’s comprehensive Accounting and Financial Reporting services go beyond mere compliance, providing clients with a holistic financial understanding, strategic insights, and compliance with international standards.