Ministry of Human Resources & Emiratisation has announced amendments to the labour law in the UAE. Federal Decree Law No. 33 of 2021, which is effective from 2 February 2022. The new labor law changes are fairly substantial and necessitate…

According to UAE labour law, either the employer or the employee can end a working relationship by giving a 30 to 90-day written notice as stipulated in the contract. Employers can, however, terminate workers without cause after conducting a written…

Financial statements are prepared in accordance with established guidelines. Understanding the objectives of financial reporting is helpful in understanding these guidelines. As discussed in the Financial Accounting Standards Board (FASB) Statement of Financial Accounting Concepts No. 1, the objectives of…

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction…

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more…