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Accounting & Finance

Year-end IFRS financial statements with notes and audit-ready schedules for Corporate Tax, auditors and banks.

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What’s included
9 deliverables
4 step process
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Printed annual financial statements with highlighted notes
Accounting & Finance

Your annual financial statements are the starting point for your Corporate Tax return, the basis of any audit and the first thing a bank asks for. We prepare complete statements under IFRS or IFRS for SMEs, with the notes and supporting schedules that auditors and the FTA expect to see.

Statement of financial position, profit or loss and cash flows
Statement of changes in equity
Accounting policies and explanatory notes
Year-end adjustments, accruals and provisions
Fixed asset, depreciation and gratuity schedules
Related-party balances and transactions disclosure
Reconciliation of accounting profit to taxable income
Audit-ready lead schedules and supporting files
Comparatives and restatements where required

01

Corporate Tax foundation

Taxable income starts from accounting profit, so accurate statements mean an accurate return.

02

Smoother audits

Auditors receive organised schedules, saving time and fees.

03

Bank-ready

Professionally presented statements support facilities and renewals.

04

Standards-compliant

IFRS presentation and disclosures applied correctly.

In-depth guide

01Why financial statements now matter more

Since the introduction of UAE Corporate Tax, financial statements are no longer just a licensing formality. Your taxable income is calculated starting from the accounting profit shown in your statements, so errors in revenue recognition, depreciation or provisions flow directly into your tax bill.

Records and financial statements must also be retained for at least seven years and made available to the FTA on request.

02IFRS or IFRS for SMEs

IFRS is the standard framework in the UAE. Smaller businesses may be able to use IFRS for SMEs, a simplified version with fewer disclosures, and very small businesses may be eligible to prepare statements on a cash basis under the Corporate Tax rules.

We help you choose the framework that is permitted for your business and apply it consistently from year to year.

03Ready for your auditor and the FTA

Alongside the statements we prepare lead schedules that tie every balance back to supporting evidence. Auditors spend less time chasing information, and you have a clear file to rely on if the FTA ever asks questions about your return.

  1. 1

    Close

    Books are reconciled and year-end cut-off is confirmed.

  2. 2

    Adjust

    Accruals, provisions, depreciation and other adjustments are posted.

  3. 3

    Draft

    Statements and notes are prepared and reviewed with you.

  4. 4

    Finalise

    Signed statements and schedules are issued for audit, tax and banks.

Yes. Corporate Tax law requires taxable persons to prepare financial statements using accepted accounting standards, and most licensing authorities and banks require them too. IFRS is the general standard, with IFRS for SMEs available to businesses below the relevant revenue threshold.

Accounting & Finance

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