Accounting and Bookkeeping

Professional accounting, bookkeeping, inventory management, reconciliation, financial reporting, and fixed asset management services.

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01

Corporate Finance

Accounting & Financial Reporting

Financial Compliance

Management Information System (MIS) Reports including (not limited to): Balance Sheet, Income Statement, Cash Flow Statement, Statement of Changes in Equity, Trend Analysis, Common Size Statement, Ratio Analysis.

What Services do we cover in Accounting & Financial Reporting?

  • •Balance Sheet
  • •Income Statement
  • •Cash Flow Statement
  • •Statement of Changes in Equity
  • •Trend Analysis
  • •Business Snapshots
  • •Common Size Statement
  • •Ratio Analysis
  • •Creditors Aging Analysis
  • •Debtors Aging Analysis
  • •Inventory Reconciliation Statement
  • •Bank Reconciliation Statement
  • •Cash Tracing Statement
  • •Fixed Assets Register
  • •Fixed Assets Statement
  • •Tax Transaction and Payment Schedule
  • •Loan Amortization Schedule
  • •Report on Inter Company Transactions, etc.
02

Business Operations

Bookkeeping Services

Process Management

Establish a single or double entry accounting system. Implement and oversee the monitoring of bookkeeping policies and procedures.

What Services do we cover in Bookkeeping?

  • •Establishing Accounting System: Establish a single or double entry accounting system.
  • •Monitoring Bookkeeping Policies and Procedures: Implement and oversee the monitoring of bookkeeping policies and procedures.
  • •Credit and Debit Accounts: Create credit and debit accounts, including the allocation of expense categories.
  • •Data Entering into the System: Input both expenses and income into the software, encompassing non-digital payment methods such as cash and checks.
  • •Banking Operations: Manage banking operations, including handling new deposits.
  • •Training: Conduct training sessions for staff on the utilization of relevant bookkeeping software.
  • •Verification: Verify that recorded expenses comply with company policies and oversee the approval process.
  • •Accuracy: Ensure the accuracy of information and verify account balances in the case of a Double Entry system.
  • •Data Backup: Maintain records and perform necessary backup and archiving procedures.
  • •Financial Reporting: Collaborate with the accountant in preparing financial statements or independently prepare them based on requirements.
  • •Compliance: Ensure adherence to accounting best practices and governmental regulations in all bookkeeping activities.
  • •Audit Assistance: Assist in audit processes and promptly identify and address any discrepancies.
03

Accounting Recovery

Updating of Backlog Accounts

Financial Reconstruction

Companies that have been in operation for few years, especially SME’s in the UAE would not have maintained their books of accounts and would be managing their transactions in the old-school ways of recording in books or excel sheets.

What Services do we cover in Updating of Backlog Accounts?

  • •Initially Discussion with management: The nature and volume of business is analyzed, and the specific requirement of the company are understood by the management.
  • •Collection of Documents: The details of all transactions carried out are so far collected from the clients.
  • •Accounting of Transactions: The accounts will be updated by our executive based on documents and explanations provided by the client.
  • •Report Generation: Balance sheet, Profit and Loss Account, Cash flow statements, Ageing reports, Comparative report on sales performance and expenses, Financial ratio analysis.
  • •Report Discussion with Management: The prepared reports will be discussed with the management highlighting business performance and improvement areas.
04

Asset Management

Fixed Assets Management

IFRS Compliance

Fixed Assets Management in the UAE can be done with the support of Aayu Tax and Management Consultants who shall ensure that your fixed assets are maintained in appropriate way.

What Services do we cover in Fixed Assets Management?

  • •Support in maintenance of Fixed Assets Register.
  • •Review of Fixed Assets Register Maintained by the Client.
  • •Training the staffs on the process for raising indent.
  • •Supervising the accounting of Fixed Assets.
  • •Accounting of Revalued Assets.
  • •Proper Classification of Capital work-in-progress.
  • •Assets Tagging using Barcode/RFID.
  • •Physical Verification and control assessment.
05

Inventory Control

Inventory Verification & Management

Operational Efficiency

Determining the cost of inventory using methods such as FIFO (First In, First Out), LIFO (Last In, First Out), or weighted average.

What Services do we cover in Inventory Verification & Management?

  • •Inventory Valuation using FIFO, LIFO or weighted average.
  • •COGS Calculation.
  • •Financial Reporting.
  • •Inventory Turnover Analysis.
  • •Budgeting and Forecasting.
  • •Supplier and Vendor Reconciliation.
  • •Obsolete Inventory Management.
  • •Internal Controls.
  • •Asset Tracking.
  • •Inventory Reserves.
  • •Financial Analysis.
06

Financial Accuracy

Account Reconciliation

Transaction Verification

Account reconciliation between the banks and parties has to be done frequently to ensure that the total volume of transactions and payments are reflected accurately.

What Services do we cover in Account Reconciliation?

  • •Bank Reconciliation: Verify statements maintained by the company and obtained from banks.
  • •Party Account Reconciliation: Verify ledgers of all parties and obtain balance confirmations frequently.