Financial Statement Preparation in the UAE

Sooner or later someone outside your company asks to see your numbers. A bank reviewing a facility, the tax authority reviewing a return, a partner reviewing an investment, an auditor reviewing the year. What they want is a set of statements that is complete, consistent and supported by the records behind it. That is only possible if the bookkeeping underneath was done properly all year.

What This Service Includes

• Balance sheet
• Profit and loss statement
• Cash flow statement
• Supporting schedules for the main balances
• Statements prepared on an accrual basis, consistent period to period
• Reconciliation of every balance back to source records
• A pack ready for your bank, your auditor or the FTA

What You Need to Provide

• Your bookkeeping records for the period, if we do not already hold them
• Bank statements for every company account
• Loan, lease and finance agreements
• Details of any assets purchased during the period
• Last year’s statements, if any exist

How It Works

• We close the period in your accounts and reconcile every balance.
• We prepare the statements and the schedules that support them.
• We walk you through the numbers before anything is sent anywhere.
• You receive a final pack you can hand to a bank, an auditor or the authority.

Why H2RS

Your statements are built from the records we have kept all year, in the same system we file your returns from. Nothing is reconstructed at year end, which is where most errors enter. And because we are a registered tax agent, the statements and the tax position they support are prepared by the same team, so the two never contradict each other.