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  8 major differences between Book - keeping and Accounting Bookkeeping and Accounting  are two poles apart 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 appear the same or confusing to the untrained personnel. This is because both bookkeeping and accounting deals with financial data, require basic accounting knowledge, and classify, interpret, summarize and generate reports for businesses using the financial transactions. But, both of these processes are natively different and have their own couple of benefits. Here we summarize 8 major differences between bookkeeping and accounting to help you better understand both of these functions. Book...

  How to Easily Apply for a Business Loan in Dubai in 2024. Dubai is a dream marketplace to build a new start-up due to its efficient business environment and business-friendly tax policies. But to start any business in Dubai, first, you need some investment or funds to raise primary capital. Getting a loan from someone is a great way to gather initial funding. If you want a sufficient amount to  start your new business,  you can choose different options to apply for various business loans. This article will guide you through top tips for applying for a business loan in Dubai and the benefits of each business loan, including four critical types of loans. Apply for a Business Loan in Dubai To acquire a loan in Dubai, you apply to higher authorities, Banks, and other loan funding organizations.  You have to apply for a business loan in Dubai with a step-by-step procedure. Otherwise, you will end up with the need for more required documents. That might lead you to high ...

  What is an Offshore Company in Dubai UAE? This article will give you every bit of crucial information you need to establish an offshore company in Dubai and the UAE as a whole. It will also inform you about the types of businesses that cannot be set up as offshore businesses. It will provide a list of documents needed to register an offshore company and lastly whether a business owner should hire an agency to assist in the incorporation process. Let’s start with the most basic question: What is an offshore company in Dubai? An offshore company is any company/corporation/firm that is established on one land but operates on another. This is mainly done to avoid taxes on the profits that it is making.  The hard-earned profit that businesses can spend on the expansion of the business is excessively taxed which discourages business investment. Not establishing an offshore company in Dubai could be a catastrophic decision for an expanding business. There are innumerable places to ...

  Useful Tips to Reduce Operational Cost of Business in UAE 2024 Low cost is not something that enters one’s mind when he thinks about establishing a business in UAE because the  skyscrapers , explicit architecture, and living standards in Dubai send a completely opposite message. However, UAE is not only a glimmer and big budget. There are different proven strategies that can help you reduce your business’s operational costs, if implemented in the right way. Dubai, in a very short period of time has become a center of attraction for starting up businesses because of its countless opportunities for new companies to grow and establish their setups in the market. Any company aiming to establish in the UAE surely has a vision and strategic plans because running a business there has never been a piece of cake, especially in a place like Dubai.   Here are some possible effective ways that you can adopt to run your business with reducing Costs of Operation. Experience Grow...