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OUR ACCOUNTING AND FINANCIAL REPORTING SERVICES

At Precision Accounting and Financial Solutions – FZCO, we understand the importance of maintaining accurate financial records and adhering to international financial reporting standards (IFRS). Our comprehensive financial accounting and bookkeeping services are tailored to ensure that your business stays on track and compliant with IFRS requirements.

 

Key Components of Our Service Include:

  1. Compliance with UAE Company Law Articles:

 

  • Accounting Records (Article 26): We assist your company in establishing and maintaining accounting records as per the requirements outlined in Article 26 of the UAE Company Law.
  • Company Accounts (Article 27): Our team ensures that your company’s accounts are prepared and maintained in accordance with the provisions of Article 27 of the UAE Company Law.
  • Company’s Fiscal Year (Article 28): We help you define and adhere to your company’s fiscal year as per the guidelines set forth in Article 28 of the UAE Company Law.
  • Statutory Reserve (Article 239): We provide guidance on the establishment and maintenance of statutory reserves in compliance with Article 239 of the UAE Company Law.
  • Accessing Records Maintained by Registrar (Article 37): We ensure that your company’s records are maintained accurately and are accessible as required under Article 37 of the UAE Company Law.

 

  1. IFRS-Compliant Accounting Practices:

 

  • We ensure that your accounting records are maintained in accordance with International Financial Reporting Standards (IFRS), as mandated by UAE Company Law.
  • Our services encompass recording all transactions in compliance with IFRS principles, ensuring accuracy, transparency, and accountability in financial reporting.

 

  1. Chart of Accounts (COA) Creation: We work closely with our clients to develop a customized Chart of Accounts that aligns perfectly with IFRS reporting standards, ensuring transparency and accuracy in financial reporting.

 

  1. Financial Accounting and Bookkeeping: Our team diligently manages your financial transactions, including:

 

  • Preparation and maintenance of the Trial Balance.
  • Receivables & Payables Management:
    • Billing services to customers.
    • Maintenance of customer aging reports.
    • Processing vendor invoices.
    • Maintenance of vendor aging reports.
    • Reconciliation of payments and receipts with agreed payment terms.

 

  1. Monthly Closing Procedures: We facilitate seamless month-end closing procedures, including:

 

  • Month-end closing checklist to ensure all necessary tasks are completed.
  • Prepayments and accrual accounting to accurately reflect your financial position.
  • Issuance of financial statements in the monthly reporting pack for comprehensive insights into your business’s performance.
  1. Fixed Assets Management: Our experts handle all aspects of fixed assets management, including:

 

  • Recording and creation of a fixed asset register reconciled with the Trial Balance.
  • Posting depreciation and amortization of assets at month-end to accurately reflect asset value over time.

Why Choose Precision Accounting and Financial Solutions – FZCO?

 

With our meticulous attention to detail, adherence to international standards, and dedication to client satisfaction, we provide you with peace of mind knowing that your financial affairs are in capable hands. Partner with us to experience the benefits of precise, reliable, and comprehensive financial accounting and bookkeeping services tailored to meet your specific business needs.

At Precision Accounting and Financial Solutions – FZCO, we understand the critical importance of accurate and timely payroll management in ensuring employee satisfaction and regulatory compliance. Our comprehensive Payroll Management solutions are tailored to meet the unique needs of your business, providing you with seamless and efficient payroll processing while adhering to UAE labour laws and regulations.

 

Key Components of Our Payroll Management Service Include:

 

  1. Payroll Calculation and Payments via WPS (Wages Protection Program):

 

  • Our expert team handles all aspects of payroll calculation and processing, ensuring accurate and timely payments to your employees through the Wages Protection Program (WPS). We meticulously manage payroll data, deductions, and allowances to guarantee compliance with UAE labour laws and regulations.
  1. Accrual Booking as per UAE Labor Laws:

 

  • We ensure compliance with UAE labour laws by accurately booking required accruals, including end-of-service benefits and other statutory obligations, in accordance with applicable regulations. Our meticulous approach ensures transparency and accountability in payroll management.
  1. Calculation and Payment of General Pension and Social Security Authority (GPSSA) for UAE Nationals:

 

  • For UAE national employees, we handle the calculation and payment of contributions to the General Pension and Social Security Authority (GPSSA), ensuring compliance with mandatory pension requirements and facilitating employee retirement benefits.
  1. Preparation of Monthly Payroll Reports:

 

  • We provide comprehensive monthly payroll reports that offer detailed insights into payroll expenditures, employee deductions, taxes, and contributions. These reports are tailored to meet the specific needs of management, providing valuable data for budgeting, forecasting, and decision-making.

Why Choose Precision Accounting and Financial Solutions – FZCO for Payroll Management?

 

With our Payroll Management solutions, you can streamline your payroll processes, ensure compliance with regulatory requirements, and enhance employee satisfaction through accurate and timely payments. Our expert team is dedicated to providing you with personalized support and tailored solutions that meet the unique needs of your business. Partner with us to experience efficient payroll management that enables you to focus on what matters most – growing your business and supporting your employees.

At Precision Accounting and Financial Solutions – FZCO, we offer more than just traditional personnel support. Our team goes above and beyond by providing expert consultation in International Financial Reporting Standards (IFRS), ensuring that your business stays compliant and informed in today’s dynamic financial landscape.

 

Our Consultation Services Include:

 

  1. IFRS Guidance and Interpretation: Our experienced professionals offer comprehensive guidance and interpretation of IFRS standards, helping you navigate complex accounting requirements with clarity and confidence.
  2. Customized Training Programs: We provide tailored training programs designed to enhance your team’s understanding of IFRS principles, equipping them with the knowledge and skills needed to apply best practices in financial reporting.
  3. Technical Support: Whether you’re facing challenges in IFRS adoption or need assistance with specific accounting issues, our team is readily available to provide technical support and practical solutions to address your concerns.
  4. Regulatory Compliance Review: We conduct thorough reviews of your financial statements and reporting processes to ensure compliance with IFRS standards, identifying areas for improvement and implementing effective solutions to enhance accuracy and transparency.

 

Why Choose Precision Accounting and Financial Solutions – FZCO for IFRS Consultation?

 

With our deep expertise in IFRS and dedication to client success, we are committed to delivering unparalleled consultation services that empower your business to thrive in today’s global marketplace. Partner with us to receive expert guidance, practical solutions, and personalized support tailored to your unique needs, ensuring compliance and excellence in financial reporting.

At Precision Accounting and Financial Solutions – FZCO, we understand the importance of having access to timely and insightful data to drive informed decision-making. Our Business Intelligence solutions are designed to provide you with actionable insights and strategic oversight, empowering you to optimize performance and achieve your business objectives with confidence.

 

Key Components of Our Business Intelligence Offerings Include:

 

CEO Dashboard:

 

Our CEO Dashboard is a powerful tool that provides a comprehensive overview of key performance indicators (KPIs), financial metrics, and critical insights tailored specifically for executive leadership. It offers a real-time snapshot of your company’s performance, enabling you to make informed decisions swiftly and effectively.

Monthly Reporting Package (MRP):

 

Our Monthly Reporting Package (MRP) is a robust reporting solution that delivers detailed financial analyses, trend evaluations, and performance summaries on a monthly basis. It offers a structured format for reviewing operational metrics, financial results, and strategic initiatives, facilitating a deeper understanding of your company’s performance, and facilitating proactive decision-making.

OUR SPECIAL ASSIGNMENTS SERVICES

At Precision Accounting and Financial Solutions – FZCO, we recognize the pivotal role that managerial accounting plays in driving informed decision-making and achieving organizational goals. Our strategic Managerial Accounting solutions are designed to equip you with the insights and analyses necessary to optimize performance, manage costs effectively, and maximize profitability.

 

Key Components of Our Managerial Accounting Service Include:

 

  1. Budgeting and Variance Analysis Reports:

 

  • Our expert team assists you in developing comprehensive budgets and conducting variance analysis to track performance against financial targets. We provide detailed reports that highlight areas of deviation and offer actionable insights to support strategic decision-making.
  1. Financial Modelling:

 

  • Leveraging advanced financial modelling techniques, we help you forecast future financial performance, evaluate investment opportunities, and assess the potential impact of strategic decisions. Our models are tailored to your specific needs, providing valuable insights into various scenarios and outcomes.
  1. Cost Modelling:

 

  • We specialize in cost modelling to help you understand and manage the cost structure of your business effectively. Our detailed analyses identify cost drivers, analyse cost behaviour,
  • and optimize cost allocation methods, enabling you to enhance efficiency and profitability.
  1. Financial Analysis:

 

  • Our team conducts comprehensive financial analyses to evaluate performance, assess financial health, and identify opportunities for improvement. From profitability analysis to trend analysis, we provide actionable insights that empower you to make data-driven decisions with confidence.
  • Building Key Performance Indicators (KPI) Analysis.

 

We collaborate with you to define and establish Key Performance Indicators (KPIs) that align with your strategic objectives. Through rigorous analysis and monitoring, we help you track performance metrics, identify areas for improvement, and drive continuous performance enhancement across your organization.

Why Choose Precision Accounting and Financial Solutions – FZCO for Managerial Accounting?

 

With our Managerial Accounting solutions, you gain access to advanced analytical tools, expert insights, and personalized support that enable you to optimize performance and drive sustainable growth. Our commitment to excellence ensures that you have the information and analysis needed to make strategic decisions with confidence. Partner with us to unlock the full potential of your business and achieve your long-term objectives effectively.

At Precision Accounting and Financial Solutions – FZCO, we recognize the pivotal role that continuous learning and skill development play in fostering organizational growth and employee satisfaction. Our comprehensive HR Development and Skill Training solutions are designed to empower your team with the knowledge, capabilities, and confidence needed to excel in today’s dynamic business environment.

 

Key Components of Our HR Development and Skill Training Service Include:

 

  1. Training Sessions on Empowering Topics:

 

  • We offer engaging and impactful training sessions on a wide range of topics aimed at empowering your team to excel. From leadership development to technical skills enhancement, our sessions are designed to inspire growth and innovation.
  1. Training Needs Analysis:

 

  • Our team conducts thorough Training Needs Analysis (TNA) to identify skill gaps and training requirements within your organization. We work closely with you to understand your unique challenges and develop tailored training solutions that address specific areas of improvement.
  1. Customized Training Programs:

 

  • We develop customized training programs that are tailored to align with your organizational goals and objectives. Whether you’re looking to enhance soft skills or technical capabilities, our programs are designed to meet the unique needs of your team and drive measurable results.
  1. Soft Skills Development:

 

  • Our training programs focus on soft skills development, including leadership, communication, problem-solving, time management, and emotional intelligence. We provide practical tools and strategies to help your team excel in their roles and foster a positive work environment.
  1. Technical Skills Enhancement:

 

  • We offer training sessions that cover the latest technologies and industry trends, ensuring that your team remains up to date with the skills needed to stay competitive in today’s rapidly evolving marketplace.
  1. Flexible Training Options:

 

  • Whether you prefer on-site training for hands-on learning or online training for added flexibility, we offer a variety of training delivery options to suit your preferences and schedule.

Why Choose Precision Accounting and Financial Solutions – FZCO for HR Development and Skill Training?

 

With our HR Development and Skill Training solutions, you gain access to innovative learning opportunities, expert facilitators, and tailored programs that empower your team to reach their full potential. Our commitment to excellence ensures that your team receives the support and guidance needed to thrive in their roles and contribute to the success of your organization. Partner with us to cultivate a culture of continuous learning and drive sustainable growth across your organization.

At Precision Accounting and Financial Solutions – FZCO, we offer end-to-end solutions for business incorporation in various options across the UAE mainland and free zones. Our dedicated team provides personalized consultation, streamlined documentation processing, and comprehensive support to ensure a smooth and efficient incorporation process for your business.

 

Key Components of Our Business Incorporation Service Include:

 

  1. Consultation & Proposal:

 

  • We begin by understanding your business needs and objectives, providing tailored consultation and proposing the most suitable options for incorporation in the UAE mainland or free zones.
  1. Documentation & Processing:

 

  • Our team handles all documentation and processing requirements, ensuring accuracy and compliance with regulatory standards throughout the incorporation process.
  1. License Approval & Issuance:

 

  • We facilitate the approval and issuance of various types of licenses, including:
    • Professional License: for businesses providing consultancy and multiple types of services.
    • Commercial License: for import, export, distribution, and storage businesses.
    • Industrial License: for businesses engaged in manufacturing, processing, and export activities.
    • Branch: for foreign incorporated companies looking to register a branch at select free zones.
  1. Continuing Client Support:

 

  • We provide ongoing support to our clients, including:
    • Visa Processes assistance.
    • Office Solutions guidance.
    • Medical Insurance facilitation.
    • Bank Account Opening Support.
    • License Upgrades, Downgrades, Amendments, and Renewals assistance.

Why Choose Precision Accounting and Financial Solutions – FZCO for Business Incorporation?

 

With our Business Incorporation solutions, you gain access to expert guidance, streamlined processes, and comprehensive support to establish your business presence in the UAE seamlessly. Our commitment to excellence ensures that your incorporation journey is hassle-free and compliant with all regulatory requirements. Partner with us to unlock opportunities for growth and success in the dynamic business landscape of the UAE.

At Precision Accounting and Financial Solutions – FZCO, we understand the critical importance of effective fixed asset management in maintaining financial accuracy and regulatory compliance. Our comprehensive Fixed Asset Management Solutions are designed to streamline asset tracking, reporting, and compliance processes, ensuring efficiency and reliability throughout the asset lifecycle.

 

Key Components of Our Fixed Asset Management Solutions Include:

 

  1. Fixed Asset Audit and Barcoding:

 

  • We conduct a thorough audit of our client’s fixed assets to ensure accurate and up-to-date records. This includes physically verifying the existence, condition, and location of each asset. Additionally, we implement a barcoding system to simplify asset identification and tracking, minimizing the risk of loss or misplacement.
  1. Fixed Asset Register Setup:

 

  • We create a centralized fixed asset register for our clients, capturing essential details such as asset descriptions, acquisition dates, purchase costs, depreciation methods, and useful lives. By establishing a standardized format for recording asset information, we ensure consistency and ease of reporting.
  1. Fixed Asset Reconciliation:

 

  • Our team regularly reconciles the fixed asset register with physical asset counts to identify discrepancies or anomalies. Thorough investigations are conducted to rectify inconsistencies and update the register accordingly. This process helps maintain accurate asset records and facilitates reliable financial reporting.
  1. Depreciation Calculation and Reporting:
  •  
  • We assist clients in calculating depreciation for their fixed assets based on applicable accounting standards and regulations. A system is set up to automate the depreciation calculation process, ensuring accuracy and consistency. Periodic depreciation reports are generated to provide insights into asset value, accumulated depreciation, and remaining book value.
  1. Maintenance and Disposal Tracking:

 

  • We implement mechanisms to track maintenance activities performed on fixed assets, including repairs, upgrades, and routine maintenance. Additionally, procedures are established for managing asset disposals, including proper documentation, valuation, and accounting treatment. This enables clients to have a comprehensive view of the entire asset lifecycle, ensuring compliance with regulatory requirements.
  1. Compliance and Reporting Support:

 

  • We stay up-to-date with the latest accounting standards and regulations related to fixed assets, providing guidance and support to clients in adhering to these requirements. This includes financial statement disclosures, tax reporting, and compliance with local and international regulations. We assist in preparing accurate and reliable reports for internal management, external stakeholders, and regulatory bodies.

Why Choose Precision Accounting and Financial Solutions – FZCO for Fixed Asset Management?

 

With our Fixed Asset Management Solutions, you gain access to expert guidance, streamlined processes, and comprehensive support to effectively manage your fixed assets. Our commitment to accuracy, compliance, and efficiency ensures that your asset management processes are optimized for success. Partner with us to streamline your asset tracking, reporting, and compliance efforts and achieve greater financial transparency and control.

At Precision Accounting and Financial Solutions – FZCO, we understand that accurate project costing is essential for the success and profitability of any venture. Our comprehensive Project Costing solutions are tailored to provide you with detailed insights and analysis throughout every stage of your project, from inception to completion.

 

Key Components of Our Project Costing Service Include:

 

  1. Business Plans:

 

  • We assist in the development of comprehensive business plans that outline the financial objectives, strategies, and resource requirements for your project. Our plans are meticulously crafted to provide a roadmap for success and secure investment opportunities.
  1. Feasibility Studies:

 

  • Our team conducts thorough feasibility studies to assess the viability and potential risks associated with your project. We analyse market dynamics, competition, regulatory factors, and financial projections to determine the feasibility of your project and identify potential challenges.
  1. Resource Allocation:

 

  • We help you optimize resource allocation by identifying the specific resources required for each phase of your project. From manpower to materials, we ensure that resources are allocated efficiently to minimize costs and maximize productivity.
  1. Risk Assessment:

 

  • We conduct comprehensive risk assessments to identify potential risks and uncertainties that may impact the success of your project. Our proactive approach enables us to develop risk mitigation strategies and contingency plans to safeguard your project against unforeseen events.
  1. Cost Assessment and Estimates:

 

  • We provide accurate cost assessments and estimates for your project, considering project milestones, deliverables, and resource requirements. Our detailed analyses ensure that you have a clear understanding of the costs associated with your project, enabling you to make informed decisions and manage budgets effectively.

Why Choose Precision Accounting and Financial Solutions – FZCO for Project Costing?

 

With our Project Costing solutions, you gain access to comprehensive analysis, expert insights, and strategic guidance that enable you to successfully plan, execute, and monitor your projects. Our commitment to accuracy, efficiency, and innovation ensures that you have the support you need to achieve your project objectives and drive sustainable growth. Partner with us to optimize project performance, minimize risks, and maximize returns on your investments.

At Precision Accounting and Financial Solutions – FZCO, we understand the complexities of taxation laws and the importance of strategic tax planning for businesses to thrive. Our comprehensive Taxation solutions are designed to provide you with expert advice, ensure compliance with regulations, and optimize tax efficiency to support your business objectives.

 

Key Components of Our Taxation Service Include:

 

  1. Tax Advisory Services (Corporate Excise VAT):

 

  • Our team of tax experts provides professional advice and guidance on a wide range of tax issues, regulations, and opportunities. Whether it’s Corporate Tax, Excise Tax, Value Added Tax (VAT), or Corporate Income Tax, we offer strategic insights to help you navigate the intricacies of tax law and maximize benefits.
  1. Tax Compliance (Corporate Excise VAT and Corporate Income Tax):

 

  • We ensure meticulous adherence to all relevant tax regulations and requirements, providing comprehensive support for the accurate filing of tax returns. Our thorough approach to tax compliance minimizes the risk of penalties and sanctions, giving you peace of mind and financial security.
  1. Federal Tax Authority Representations:

 

  • We offer assistance and representation for dealings with the Federal Tax Authority (FTA) in the UAE. Our team liaises with tax authorities on your behalf, addressing inquiries, resolving issues, and ensuring compliance with regulatory requirements.
  1. Tax Planning and Management:

 

  • We collaborate with you to develop strategic tax planning initiatives aimed at optimizing tax efficiency, minimizing tax liabilities, and managing tax risks effectively. Our proactive approach helps you capitalize on tax-saving opportunities and maintain financial stability.
  1. Economic Substance Regulation (ESR) Compliance:

 

  • We provide assistance and guidance to ensure compliance with the UAE’s Economic Substance Regulations (ESR). Our experts help you navigate the requirements, implement necessary measures, and fulfill reporting obligations to meet regulatory standards.

Why Choose Precision Accounting and Financial Solutions – FZCO for Taxation?

 

With our Taxation solutions, you gain access to expert advice, comprehensive support, and strategic guidance to navigate the complexities of tax law with confidence. Our proactive approach to tax planning and compliance ensures that you stay ahead of regulatory changes and maximize tax benefits for your business. Partner with us to streamline your tax processes, mitigate risks, and optimize your tax position for long-term success.

At Precision Accounting and Financial Solutions – FZCO, we recognize the significance of efficient ERP solutions in streamlining business operations and enhancing productivity. Our comprehensive ERP solutions implementation service is designed to provide you with a seamless transition, from initial assessment and consultation to ongoing support and optimization.

 

Key Components of Our ERP Solutions Implementation Service Include:

 

  1. Required Assessment and Consultation:

 

  • We conduct a thorough assessment of your business processes and requirements to determine the most suitable ERP solution for your organization. Our consultation services ensure that the chosen ERP system aligns perfectly with your business objectives and future growth plans.
  1. System Customization:

 

  • Our team specializes in customizing ERP systems to meet your specific needs and preferences. Whether it’s modifying workflows, configuring modules, or integrating third-party applications, we ensure that the ERP solution is tailored to optimize efficiency and effectiveness.
  1. Data Migration and Integration:

 

  • We manage the seamless migration of your existing data to the new ERP system, ensuring minimal disruption to your business operations. Additionally, we facilitate the integration of the ERP solution with other systems and applications to ensure smooth data flow and interoperability.
  1. Training and Support:

 

  • We provide comprehensive training programs for your staff to ensure a smooth transition to the new ERP system. Our expert trainers guide your team through the functionalities and features of the ERP solution, empowering them to leverage its full potential. Additionally, we offer ongoing support to address any queries or issues that may arise post-implementation.
  1. Process Optimization:

 

  • Our team collaborates with you to optimize your business processes using the capabilities of the ERP system. We identify areas for improvement, streamline workflows, and implement best practices to maximize efficiency and productivity across your organization.
  1. Reporting and Analytics:

 

  • We configure the ERP system to generate insightful reports and analytics that provide valuable insights into your business performance. From financial reports to operational dashboards, we ensure that you have access to real-time data and actionable insights to make informed decisions.

Why Choose Precision Accounting and Financial Solutions – FZCO for ERP Solutions Implementation?

 

With our ERP Solutions Implementation service, you gain access to expert guidance, customized solutions, and ongoing support to maximize the benefits of your ERP investment. Our commitment to excellence ensures a seamless implementation process and empowers your organization to achieve operational excellence and sustainable growth. Partner with us to transform your business with a robust and efficient ERP solution tailored to your unique needs.

Years Experience

15+ Years of Expertise, Your Financial Advantage.

Experience

Expertise Unleashed, Your Financial Dream Team.

Client-Centric Approach

Your Success, Our Focused Approach.

Partnership

Elevating Business Success through Strategic Partnerships.

WHY CHOOSE US

At Precision we take pride in our team of skilled professionals who are deeply committed to understanding your specific needs. We go the extra mile to tailor comprehensive solutions that perfectly align with your aspirations. Our meticulous attention to detail ensures that no aspect of your financial requirements is overlooked. By leveraging cutting-edge technology, we stay at the forefront of the industry, delivering exceptional services that surpass expectations. With an unwavering commitment to excellence, we confidently transform your financial objectives into tangible, measurable results. Choose us as your trusted partner, and we will handle all your financial recording and reporting activities with unmatched experience and unwavering dedication, helping you achieve your goals with ease.

Choose Precision Accounting and Financial Solutions: Your Partner for Financial Excellence
Contact US
Precision. Financial Success Delivered.
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Dubai, UAE

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