The formal reports summarising a business's financial activity and position. The core financial statements are the Profit and Loss Statement (P&L), Balance Sheet, and Cash Flow Statement. UAE businesses are typically required to produce audited financial statements for banking, trade licensing, and corporate tax purposes.
Read MoreThe 12-month period a business uses for financial reporting and tax purposes. While most UAE businesses use the calendar year (January–December), the FTA permits alternative fiscal years.
Read MoreLong-term tangible assets used in business operations, such as machinery, vehicles, computers, and leasehold improvements. Fixed assets in UAE businesses are depreciated over their useful life and reported on the balance sheet.
Read MoreA fixed cost is a type of cost that remains constant regardless of the volume of goods or services produced.
Read MoreFinancial forecasting is the process of estimating future financial performance based on an organization's current and historical financial data.
Read MoreFractional CFO is a type of financial management service in which a business can hire a Chief Financial Officer (CFO) on a part-time or temporary basis.
Read MoreFree cash flow is a measure of a company's financial performance that indicates how much cash it is generating from its operations after accounting for the purchase of assets, such as property, plant, and equipment.
Read MoreFree cash flow (FCF) is a measure of a company's financial performance that represents the amount of cash it has available for distribution to shareholders after accounting for capital expenditures.
Read MoreA designated UAE jurisdiction where businesses can operate with specific tax, customs, and foreign ownership benefits — distinct from the UAE mainland.
Read MoreA free zone entity that meets the FTA's specific criteria to benefit from the 0% corporate tax rate on qualifying income.
Read MoreA full-time employee (FTE) is someone who works a regular number of hours for an employer. In most cases, a full-time employee works at least 35 to 40 hours per week.
Read MoreThe master record of all financial transactions of a business, organised by account — the single source of truth for all financial reporting.
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