Accounting in UAE is considered as the growth chart of a business because it contains all the in out flow of business. Based on the accounting books the company can grow by correcting the previous mistakes. It is also helpful when you need to submit the records as per rules and regulations. The accounting will help the management to understand the current situations of company to plan a better future.
Best accounting practices:
Some of the good accounting practices which should be followed by a business are given below:
- Keeping the accounting principles.
- Accounting principles are globally accepted one that must be followed by all the companies to maintain the uniformity.
- All the transactions must be recorded.
- All the money transfers must be recorded to avoid any conflicts in future.
- Review the accounting books regularly
- Reviewing accounting books in frequent period is mandatory