End-of-Service Gratuity Accounting in the UAE: How to Record It Correctly
Quick answer: End-of-service gratuity in the UAE isn’t just an HR calculation, it’s a long-term employee benefit under IAS 19, meaning it needs to be expensed progressively every month an employee works for you, not booked as a single shock cost when they eventually leave. Most UAE SMEs use a simplified straight-line provision, while larger […]
Management Accounts vs. Statutory Accounts: What UAE Business Owners Actually Need
Quick answer: Management accounts are internal financial reports, prepared monthly or quarterly, with no legal format, used to run the business day to day. Statutory accounts are formal, IFRS-compliant financial statements prepared annually, and under UAE Corporate Tax law, they’re the only basis the FTA accepts for calculating taxable income. Many UAE business owners genuinely […]
Account Reconciliation: How UAE Businesses Catch Errors Before the FTA Does
Quick answer: Account reconciliation UAE is the process of matching your internal books against external records, bank statements, supplier ledgers, tax filings, to confirm everything actually agrees. In the UAE, mismatches between what you’ve reported and what your reconciled figures actually show are consistently named as one of the top triggers for an FTA audit. […]