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Exploring Tag: bookkeeping

what is business liquidation

What is Business Liquidation? Liquidation process in UAE and 6 Benefits of Liquidation

When a business cannot pay its debts or is under immense pressure from the creditors it has various insolvency options to help pay off the debt amount by selling the company’s assets to pay its shareholders, creditors, and claimants, effectively dissolving the company. The most viable option at that time seems to be the liquidation … What is Business Liquidation? Liquidation process in UAE and 6 Benefits of Liquidation Read More »

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What is corporate tax in UAE? how does it affect entrepreneurs, and emigres?

Corporate tax in UAE is a direct tax applied on the profits of business entities. UAE decided on this Monday that it would impose corporate taxes from next financial year stating from June 2023, so it is necessary to understand what does taxation means, and how it affects entrepreneurs and emigres in the region. WHAT … What is corporate tax in UAE? how does it affect entrepreneurs, and emigres? Read More »

Difference between accounting and bookkeeping

8 major differences between Bookkeeping and Accounting

Bookkeeping and Accounting are two extremely important functions for every entrepreneur and business organization. In simple words, bookkeeping is keeping records of financial transactions of a business whereas accounting is the system of recording and summarizing business and financial transactions and analyzing, interpreting, classifying, verifying, summarizing, and reporting the financial data. Bookkeeping and accounting may … 8 major differences between Bookkeeping and Accounting Read More »

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