Ashraf Bassas CPA Firm is a professional services firm that serves its clients with client-centric approach to deliver better results. We deploy the best skills & resources to help our clients move forward confidently. ABCPA is an independent member of Leading Edge Alliance, ranked as the second largest professional association of an independently owned accounting and consulting firms.Read More
Accounting & Bookkeeping services are crucial for the success of any business. Businessmen can analyze their gradual growth and predict the future depending on the accounts. The bookkeeping service for small business is now looking at the new option of outsourcing the books of accounts into the hands of qualified professionals.
The main advantages of outsourced bookkeeping services are:
Handing over the work of bookkeeping to a qualified professional allows the businessmen to save their time and focus on the key area of business development. This becomes very crucial when the business is managed by a small team.
By hiring qualified professional, the business man can save money on a full-time employee as well as other employment expenses.
When Accounting & Bookkeeping services are outsourced, the business is getting the service of experts in the field. The expert accountant is well versed with the new disclosure parameters in accounting as well as in any complicated accounting treatments. Hence you get more quality and timely completion.
While outsourcing the bookkeeping service, the business does not have to bother about spending on expensive ERP for generating the report.
Bookkeeping fees vary depending on the nature and volume of work.
ABCPA provides bookkeeping services to the SME sector in both KSA & UAE.
Contact us now, and be eligible for one month free.
Stakeholders, Financial Institutions, and government agencies often need assurance that the financial statements accurately represent the true financial position of a company.
Why do you need an Audit of your business’s Financial Statements?
Satisfy stakeholders, employees, customers, and suppliers as well as the investors, as to the credibility of financial information.
Facilitate the payment of income tax and zakat accurately, thereby avoiding penalties and further investigation by DZIT.
Comply with banking covenants.
Help deter and detect fraud and material error.
Facilitate the purchase and sale of businesses.
Audits are not Just for Public Entities
All public companies are mandated to have their financial statements Audited annually, but some non-public entities must undergo an annual audit as well. These include limited liability companies, some government organizations, not-for-profit organizations, classified construction entities and organizations receiving government subsidies. Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank’s assessment of the company’s risk. Also, companies with absentee ownership (such as those owned by investment firms or individuals who no longer run the business) may order audits as checks of the company’s position.
Our Audit Methodology
We at ABCPA consider quality as the top priority when it comes to delivering the Audit. We deliver quality audits which are tailored to your particular operational structure and size. We have a team of qualified professionals who have sufficient experience in auditing various business sectors.
By engaging with us, we assure you of the highest possible level of assurance as our Audit Methodology is tailored accordingly. We also, assure you of a hassle-free audit process, through the use of our state of the art audit management tool “Draftworx”.
The client assigns in this type of engagement the Chartered Accountant to issue a report for actual findings resulting from performing procedures, specified by the beneficiary of this engagement, the client. These procedures are included in the letter of engagement with the client before commencement. Examples of such procedures are as follows:
We carry out investigations for entities as required by prosecuting authorities in matters relating to fraudulent financial reporting, an alleged employee misappropriation of assets and commercial disputes.
We have expert professionals who have experience in conducting forensic accounting engagement and investigations of alleged financial crimes of distinct nature.
Zakat regulations and tax rules are complex and filing a relatively simple return can be confusing. It is likely to overlook deductions to which you are entitled. It is better to request assistance of an experienced tax/zakat professional.
Here’s what we provide…
In addition, we will give you a sheet of commonly overlooked deductions to reduce the following year’s tax/zakat liability.
Some entities resort to liquidation as a result of dispute between owners, or for any other reasons, for which owners resort to liquidation. Liquidation is subject to legal and accounting requirements, which must be followed.
Liquidation is one of two types, voluntary and involuntary liquidation. Voluntary liquidation is made by resolution of the owners of capital. This is either to be a “voluntary liquidation for the owners,” which is decided by the owners of capital when the assets’ value of the entity’s is in excess of its debt, in the sense that the entity is able to repay (solvent), or “voluntary liquidation for creditors”, which is undertaken mainly at the request of creditors when the entity’s assets cannot cover its debts. Thus, the entity is in the state of insolvency. On the other hand, involuntary liquidation is made on court order for a lawsuit against the company.
Our services include, listing all assets and liabilities of the entity under liquidation. Then, we implement liquidation procedures, sale of entity’s assets, collect its receivable, pay its debts, and distribute the remaining (if any) to owners according to their legitimate interests after deducting their outstanding balances. Thereafter, we prepare liquidation accounts in accordance with the requirements of applicable regulations; send liquidation reports to the party who appointed us and the owners as well. Eventually, we prepare the final accounts based on liquidation work, to be approved by all owners, in preparation for the completion of the liquidation and the dissemination of the liquidation completion via methods set forth in regulations.
We provide our services to our clients through our core values that are:
ProfessionalismBy combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention.
Our standards and specialized staff spell the difference between our outstanding performance and other firms.
ResponsivenessCompanies that choose us rely on competent and accurate advice, and responsive personnel. We provide total professional services to small, medium businesses and other entities.
QualityAn accounting office is known for the quality of its service. Our firm’s reputation reflects the high standards we demand of ourselves.
Our primary goal as a trusted advisor is to provide insightful advice to enable our
clients to make informed financial decisions.
IntegrityWe uphold the highest standards of integrity in all our actions.