Accounting is the backbone of any business, and bookkeeping is the initial foundation for that backbone. It is known as one of the most important and strongest pillars that hold the stability of a company and allows decision makers to think and act accordingly. Nowadays competition is driven by big data, bookkeeping is the ground that keeps a record of financial transactions while conducting daily business activities, while accounting is the financial big data management that blends steps like recording, classifying, analysing, reporting and summarizing the data record.
No matter the size or the nature of your business, Accounting in UAE has been mandated by both corporate and VAT law, complying with the legal requirements and keeping track of business strategies and activities to be consistently in the race with businesses is matter of success for any organization. Therefore, accounting side of a firm is quite difficult to manage that is why its recommended to outsource to a specialized accounting firm.
Hiring a full-time qualified accountant in UAE can cost a lot of money and has associated expenses such as monthly salary, travel cost. Hiring MHM guarantees you more cost effective and affordable solution.
With our diversity of expertise areas, you will have a much more opportunities of accounting exceling through better quality and on-time completion of tasks with more focus to the functions that can really drive success for your business.
Errors in accounting cost money, penalties and interest charges, litigation expenses and more hidden costs can arise from errors, by mitigating those risks and assigning the responsibilities of these types of expenses to professional experts will greatly limit the risk of losses to your business.
Outsourcing gives you more chances and scope of scalability, in adding or cutting back accounting services along with our flexibility in providing our services online or offline as per your requirements.
Bookkeeping is the corner stone of Accounting; Bookkeeping is all about recording and organizing financial data while accounting is about analysing data and making reports.
International Financial Reporting Standards are International Financial Reporting Standards (IFRS) that consist of a set of accounting rules that determine how transactions and other accounting events are required to be reported in financial statements.
Your control will remain 100% over your business accounting, our services will enable you to gain more control through providing you with accurate data and analysis upon request.