Continuous changes to accounting standards, practices and regulations present a complex problem that can impact business decision-making. Additionally, changes in business operations or industry developments can introduce new accounting policies within your organization. You need to be able to anticipate the effect of key business decisions on accounting and financial reporting.
Standard Keys' accounting experts partner with you to resolve critical issues arising from changes in accounting standards, regulatory requirements, new business activities, and business acquisitions. Our accounting professionals possess deep, sector-specific experience in guiding and supporting clients through IFRS implementations, adoptions to new regulations, and improvement of accounting practices through technology and process enhancement.
As per the regulations of the Commercial Company Law in the UAE, it is mandatory to maintain proper books of account.
Small and medium enterprises (SMEs) understand the necessity to maintain proper books of accounts.
Some start-ups in the SMEs might not maintain proper books of accounts in the same year the business transactions happened, which create accounting backlogs. In this case, we support our clients in preparation of the books of account and generation of proper financial statements from the date of incorporation of the company till date.
Our representative will visit the company’s office or bring the documents to our office and update transactions using suitable accounting software. We finalize the books of account on periodic basis, normally on annual basis.
How Standard Keys can help ?
Standard Keys Financial Accounting Advisory services helps you to:
Achieve excellence in accounting and reportingKeep up-to-date on developments in domestic and international financial reporting Provide reliable and comprehensive accounting guidance and staff training. Support and guide your finance function in solving difficult accounting issues. Produce financial analysis, tax and bank reconciliation reports and cash flow forecasts. Enhance your financial processes, accounting systems and procedures. Enterprise-wide accounting policy frameworks and documentation. Restructuring financial processes and controls, including creating and/or integrating processes as part of finance transformations and ERP implementations. Developing tools for implementing new accounting standards and improving decision- making
Improve accounting through technology and process enhancementCompanies often have difficulty monitoring all their accounting methods and controls. We can help you to: Implement integrated accounting systems i.e. QuickBooks, PeachTree (Sage50), SAP, etc. Align accounting processes following new acquisitions
Meet regulatory and governance regulationsPrepare year-end closing accounts, financial statements and reports in accordance with the International Accounting Standards. Align your accounting policies and processes with the IFRS requirements Respond to corporate structuring Structure business deals, and the related accounting and financial reporting issues Implement VAT Tax process and reporting system as per the FTA’s regulations.
Handle audit and accounting impactsTrain your teams by providing training services for business professionals Ensure financial and accounting processes are aligned with regulatory and governance requirements with our financial audit professionals.