Accountancy

At ABZ Commercial, we provide professional services to our client in terms ofbookkeeping (monthly, quarterly, annually), financial statements (Trial Balance, Profit & Loss statement, Balance Sheet) financial performance review including aging analysis of inventory, receivables, and payables.

Let ABZ Commercial Removes the stress and hassle of dealer business by providing services like:

  • Bookkeeping
  • Financial Reporting
  • Auditing(Non-Statutory)
  • VAT Registration and services
  • Business Valuation
  • Business Plan
  • Financial Modeling
  • Investment Advisory
  • Portfolio Management
  • Equity Valuation
  • Coasting and budgeting
  • Data compilation

Recording of Accounting Transactions

Have you ever forgotten to record a check in your checking account register? I sure have. It wasn't a huge mistake on my part, but can you imagine what it would be for a business? Not recording something in the right place could significantly affect the financial statements for the business. That's why it's so important to record each and every business transaction that occurs in a business.

Recording business transactions is a multi-step process. The first step in recording business transactions is to examine the transaction and decide what accounts will be affected. The second step in recording business transactions is to decide what account will be debited and what account will be credited. The third step in recording business transactions is to actually document the transaction in a journal.

Accounting Software Solution

The current business environment demands systematic accounting systems to maximize efficiency and enhance productivity. Establishing an appropriate accounting system provides management with financial information necessary to make informed decisions.

The accounting system we recommend will be customized to fit each of our client’s business requirements, designed to accept organic expansion requirements and scalable for major expansions.

  • Analyzing activities and suggesting the most suitable software
  • Conveying the know-how of the operation of software
  • Training to personnel Review of systems on periodical basis
  • System implementation

In today’s complex and ever-changing business environment, you need software that puts you in control. Our customizable accounting Software solutions will help you streamline your operations, improve your productivity and increase your bottom line.

Your Choice – MyBooks Accounting Software

A resourceful Accounting Solution specially designed to suit the requirements of non-manufacturing small and medium sized enterprises (SME). The system is designed to seamlessly link all departments within a company, to provide a comprehensive view of the entire operation.

What you need to know about an accounting software

The requirements of any accounts system are to keep track of income and expenditure and tell the business owner how his or her business is doing.

In a really simple business structure, a quick look at the bank balance might be enough to get an overview, but it doesn’t always tell the true story when things are moving quickly – which is where accounting software comes in.

However, using a computerized accounting system can be a project in its own right, and getting one set up can be very time consuming.

Apart from manual systems, including paper books and spreadsheets, there are two basic options, a cloud based system or a system where the software and data reside on your own computer and network.

But beware, you might need to keep your own backup of data (preferably in a form other software can understand) and you shouldn’t rely on the cloud system to keep your valuable data safe.

What can accounting software help with?

There are a vast range of services and tools available with accounting software, and they vary between individual offerings.

The most basic software allows you to record your income and expenditure in a clear manner.

More complex offerings allow you to fill out tax forms and file returns, control stock levels, make and send invoices and even carry out payments in a variety of currencies.

How to choose the best accounting software for your business in Dubai

Small business accounting software in Dubai has changed massively in recent years. Thankfully, the advent of cloud computing has consigned the days of buying book-keeping software in a box and installing it on your own computer to history.

Nowadays, start-ups and small business can choose from a whole host of online accounts software packages. The technology helps to ease the pain of book-keeping and accounts for small business owners and provides a range of other benefits too.

But with so many different web-based accounting Software solutions out there, how do you choose the right system for you and your business?

If you are starting a business in Dubai you’ll need to keep an up-to-date record of your financial activities from day one. It’s therefore worth taking a little time now to think carefully about the accounting software you are going to use because it will save you a lot of time, trouble and wasted effort down the line.

Business plans and feasibility studies

Business plans and feasibility studies are analysis and decision-making tools used by companies. Feasibility studies are used to determine whether a proposed action has a high enough probability of success that it should be undertaken. Business plans are blueprints for implementing actions that have already been deemed feasible by the company's management.

Many Decisions vs. One

Business plans map out the direction a company intends to take to reach its revenue and profit objectives in the future. They are a compilation of numerous decisions made by the management team about how the company should be run. Feasibility studies are designed to provide guidance for one decision. Feasibility studies are often done to decide whether to start the business or not -- whether the likelihood of success is high enough to make the financial risk worthwhile. They can also be used to make decisions about whether to launch a new product in an existing company, or enter a new market -- any activity where there is a question about whether the company should take the action or not. Feasibility studies are sometimes termed cost/benefit analyses because the projected costs of the project are compared to the expected benefits to yield a conclusion.

Content

Although the content and emphasis of business plans vary by company and industry, all plans have many elements in common. They describe the products or services the company intends to sell, why customers need these products or services, the target customers, how the company intends to reach them through its marketing strategy, the background and capabilities of the management team, and risk factors the company may face. They also contain information on projected revenue and profit. Plans contain these specific elements because many times they will be read by investors or other people outside the company, and these individuals want to see very specific information in a plan. Feasibility studies may have some or many of the same elements of a business plan, including a description of the human resources required and financial projections, but all the information leads to a conclusion or recommendation.

Differences

A business plan assumes a business is going to succeed and presents the steps necessary to achieve success. Those in charge of conducting a feasibility study should not have a preconceived view about whether success will be attained. They must be as objective as possible. They conduct research and let the facts lead to the ultimate opinion given in the study. If the study's conclusion is that the project is viable, some of the research done may be included in the company's business plan, such as projections of the size of the market.

Challenges

Both business plans and feasibility studies attempt to predict future outcomes using assumptions about what is likely to happen in the business environment -- the economy and the company's competition. But this environment is always changing and the assumptions a company uses in its projections of revenue or profit may prove to be incorrect. Companies find that some of the strategies in their plan do not work to the degree the business owner expected, and have to be adjusted. In the case of a feasibility study, an incorrect conclusion can be especially costly -- it could mean launching a venture that has very little chance of surviving or approving a project that wastes the company's human and financial resources.