Dictionary

A balance sheet provides a snapshot of a business's financial health, detailing assets, liabilities, and equity, ensuring compliance and transparency.

Learn the difference between cash and accrual basis accounting, including their advantages, disadvantages, and suitability for your business needs.

A Chart of Accounts (COA) is a categorized list of accounts essential for VAT compliance, and accurate reporting in the UAE.

The UAE’s corporate tax, introduced in 2023, applies at 0% for income up to AED 375,000 and 9% above. Learn how it works and who it impacts.

E-Invoicing in the UAE, set to take effect in 2026, mandates digital invoicing to enhance VAT compliance, transparency, and operational efficiency.

Understand fair value vs. capital account for corporate tax. Discover which tax basis suits your business, from market adjustments to realization events.

In the UAE, managing fixed assets ensures financial accuracy, VAT compliance, and better operational planning for long-term business success.

Invoices are formal records of transactions, essential for tax compliance and business transparency. Learn what UAE-compliant invoices must include.

A Profit and Loss Statement (P&L) reveals a businesses' revenues, expenses, and profits, aiding compliance, performance tracking, and decision-making.

Learn the differences between realization and accrual basis for UAE corporate tax filing and decide which method aligns best with your business needs.

Receipts are essential proof of purchase, aiding in returns, exchanges, warranties, and ensuring compliance with UAE consumer protection laws.

Discover how Small Business Relief in the UAE exempts businesses with revenues ≤ AED 3 million from corporate tax. Learn the pros and cons before applying.