Business Succession Planning
We help companies align their succession plans with their corporate strategy to develop competent profiles for all management roles.
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Singiri Auditing | Business Succession Planning
Business succession is an event that rewards you vastly depending on the hard work you have put in the business. It is a crucial step for you and your business both and hence, involves a lot of complexities. Singiri Auditing will save your day by planning the entire succession procedure for you. We will analyze the current financial issues and provide strategies and tactics to overcome such issues during the transition.
Our services will include:
- Business valuation – The total investment cost will be analyzed by our experts that are equipped with a vast knowledge regarding each field.
- Succession planning – We will assist in developing and implementing the most profitable succession plan as well as train and educate the successor regarding the financial situation.
- Valuation of assets – All the assets will be valued at their fair market value (FMV) by our experts.
- Tax services – Computation of tax charges on profit on disposal and other relevant activities shall be computed by our qualified tax experts.
Importance of business succession planning in UAE
Business succession planning is a significant part in operating a business, especially for small business owners. Preparing the plan in advance helps smooth transition and minimizes any negative effects on their departure.
The purpose of business succession planning in UAE always makes sure that a company has the right leaders in place.
How succession planning benefits your company?
- Continued business – Business succession planning allows a company to operate even if the owner departs. Some business owners liquidate the assets and close their business, while others prefer to continue the business without their presence. If so, choose a successor to continue your business.
- Identify future leaders – With the help of business succession planning in UAE, identify the critical positions suitable for the future success, Identify the internal candidates with right skills and desire to take on the critical jobs. Discuss with the potential candidates about their interest and career plans.
- Choose a successor – Identify the potential talent whether it’s from employee, or individual to designate the owner’s place. Designating a successor in advance will simplify the transition and set appropriate expectations. Also, provides proper guidance for continued operation and future leadership.
- Space for training and development – If you find any competency gap, then begin grooming them for being a skillful successor. Get essential training and development to achieve the role, invest your time to acquire the skills and gain experience to perform in the senior roles.
- Manage debts – Business succession planning in UAE allows business owners to take outstanding debt and lines of credit into account. After collecting the required information, they provide potential information on how to manage debt repayment. Business succession plan indicates the usage of particular funds or assets to repay your loans.
- Minimize taxes – Well-designed business succession plan minimize the consequence of any transfer of ownership or control of a company. This reduces the business owner’s potential tax liability.
- Maintain brand identity – Business succession planning in UAE allows companies to maintain their brand identity by maintaining and identifying the internal successor. The company is led by someone who deeply understands its brand promises and shares the right value to its customers.
- Long-term plan – Changes are unavoidable and it happens within a fraction of second. Understand your company’s goals and prepare your team to work on it for the future. Have growth plans for retiring employees by handing –over their years of hard-earned knowledge before they leave. Build plans for a better future!
Business succession planning in UAE helps your company to identify and build plans to recover vulnerabilities in other areas of business. Succession planning provides required innovation, setting realistic goals, and planning for future.
Roles and responsibilities
Singiri Auditing provide strategic succession planning that supports your business by analyzing the market competition.
We create a streamlined process to identify the future candidates, assess their talents and develop their abilities. Our succession planning ensures availability of qualified team to replace the existing leaders and maintain continuity of critical business operations.
We offer excellent advisory services and financial analysis. We optimize governance and keeps your businesses comply with the standards and system. With an effective accounting team, we focus on efficient managing of accounts and assist in strategic business succession planning in UAE!
Exclusive Packages
Specially designed packages to simplify your Account Management
BASIC PLAN
- Up To 10 Monthly Transactions
- Get Free VAT & ESR Assessment
- Updating Day To Day Transactions
- Sales
- Purchase
- General
- Monthly Accounting Reports
- Sales
- Accounts Receivable
- Accounts Payable
- Bank Reconciliation
- Balance Sheet
- Income Statement
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ADVANCED PLAN
- Up To 150 Monthly Transactions
- Get Free VAT Consultation & ESR Notification Guidance With Annual Accounting Plan Updating Day To Day Transactions
- Sales
- Purchase
- General Monthly Accounting Reports
- Sales
- Accounts Receivable
- Accounts Payable
- Reconciliation
- Balance Sheet
- Income Statement
- Cash Flow Statement
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- -
- -
PREMIUM PLAN
- Up To 400 Monthly Transactions
- Get Free VAT & ESR Assessment Updating Day To Day Transactions
- Sales
- Purchase
- General Monthly Accounting Reports
- Sales
- Accounts Receivable
- Accounts Payable
- Reconciliation
- Balance Sheet
- Income Statement
- Fixed Asset Register
- Financial Analysis
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Client Testimonials
What Our Valued Customers Say About Us
EXCELLENT Based on 28 reviews Posted on Safidha STrustindex verifies that the original source of the review is Google. The team is highly professional, detail-oriented, and consistently reliable.Posted on Rajveer VanakayalaTrustindex verifies that the original source of the review is Google. We are from banglore India, we have received auditing and accounting services for my family businesses in Dubai. Thank you Singiri auditingPosted on Shravani VadlaTrustindex verifies that the original source of the review is Google. Singiri Auditing has proven to be a highly promising firm. They consistently deliver precise services and know how to build strong relationships with their clients. I would gladly recommend their services.Posted on Mayank aggrawalTrustindex verifies that the original source of the review is Google. Great experience with this audit firm! They provide excellent services with a professional touch. Highly recommend them for all your auditing needs.Posted on Chetu NaikTrustindex verifies that the original source of the review is Google. Singiri team are specialist at work, their relationship between customers are best,having versatile team providing high quality services, thank you singiri and team for your support for auditing and accounting related services you have been provided, love 💕 you allPosted on Pavithra DTrustindex verifies that the original source of the review is Google. Hi am pleased with singiri team , they are amazing, and had a great experience, they addressed all my questions patiently, and they handled from start to finish when setting up the company to registering and filing the VAT AND CORPORATE TAX THANK YOU SINGIRIPosted on Balasubramanian VSTrustindex verifies that the original source of the review is Google. We Atlantic Warehousin DWC LLC, Dubai South engaged Singri as our external Auditor for Tax filing, VAT complaiances and accounting works. We are very with them for their team work with professional approach. Also for Guiding the clients with their profound knowledge as per the UAE Law. Kudos to them and we will recomend their services for sure for their 5**** services with good patronage.Posted on Surya KishoreTrustindex verifies that the original source of the review is Google. Hi we are from Hyderabad, we approached for business setup services in dubai we have git correct guidabce and support in every step of company formation, thank you SUDHAKAR and his team fir detailed financial advises , all the best for the company tqVerified by TrustindexTrustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more
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To date we are providing Accounting Services for more than 250 clients across the UAE in Trading, Construction, Real estate, Healthcare, Logistics and other services.
Accounting Services – Frequently Asked Questions
FAQ’s
Here are some common questions about Accounting Service.
As an team of chartered accountants in Dubai, we take pride in keeping the financial transactions and records up–to–date and accurate, allowing key decision makers to rely on management reports that bring cost reduction, consolidated accounting processes, and improvement of efficiency and compliance; enabling stakeholders to focus on where it matters.
Our Expertise
- Accounting and Bookkeeping Services
- Online Accounting/Onsite Accounting
- Backlog Accounting
- Accounting Documentation and Compliance
- Accounting System Set–Up and Training
- Budgeting and Forecasting
- Financial Statement Preparation
- Customized MIS Reports
- Vat Compliance and Return Filling
- We think of our clients as our partners, we collaborate with them not as an external firm but as an extended team, adding value to their businesses.
- We currently provide accounting support to more than 250 clients in trading, construction, real estate, healthcare, logistics, and other services.
- Traditionally, it was common for business owners to hire bookkeeping professionals
- To survive in today’s era of competitive markets and industries, a successful business needs to evolve its processes regularly and save or minimize costs and expenses while maintaining product quality. Now, you can outsource such an appalling task: accounts payable processing and focus on running the business. Our competent team of accountants is highly capable to provide accounts payable processing services periodically depending on your needs. Also, trust that the crucial data of your creditors are perfectly safe.
- pers to work in-house but with modern technology, maintaining a local accountant is often unnecessary. For a business, outsourcing is a logical way to cut costs associated with maintaining personnel. This frees up time and money for business owners to focus on increasing their profit margins, rather than getting occupied with the details of managing people and paperwork. Furthermore, outsourcing removes many of the stresses associated with operating a small business – such as meeting tax, invoice, and billing deadlines. In a nutshell, outsourcing your accounting allows for a sense of freedom and flexibility that is not allotted by most traditionally managed businesses.
- Save staffing and payroll costs
- Access a pool of experts and resources
- More time to focus on your business
- Enjoy a stress-free tax season
- Take advantage of the latest technology
- Scale your books with your business
- Reduce the likelihood of errors
- Guaranteed privacy and confidentiality
- Our Expertise:
- Chart of account review and set–up.
- Data entry, including daily transaction recording.
- Frequency of visits will be determined based on the requirement. We can provide daily, weekly, monthly, and quarterly visits.
- Accounts payable and receivables processing.
- Bank Reconciliations
- VAT Compliant Procedures
- Generating MIS Reports
- ● You do not have to take this everyday challenge, so you can focus on where it matters. We will take the extra mile to understand your business, delivering tailor-made solutions if you are looking for bookkeeping firms in Dubai.
- One of the most important facets of an organization is how well the accounts and finance of the company are managed; your financial statements represent your financial performance throughout the year and predict future performance. Important decisions are made based on these financial statements including banks and financial institutions’ lent loans.
- How can we help?
- We design a financial system including drafting a system for accounting procedures and processes – recording of entries, documentation of all transactions, segregation of duties, and bookkeeping.
- We shall set up the accounting procedures and software to carry out all the financial activities appropriately.
- We shall take up the data entry task and update all your accounts regularly depending on the frequency of your transactions.
- Our team will supervise and check from time to time whether the process is being followed accurately. Inefficiencies will be rectified during this procedure.
- Finally we shall prepare your income statement, balance sheet, cash flow statement, and statement of equity. All your reports will be prepared quarterly and annually for regular analysis of your financial performance.
- One of the most important facets of an organization is how well the accounts and finance of the company are managed; your financial statements represent your financial performance throughout the year and predict future performance. Important decisions are made based on these financial statements including banks and financial institutions’ lent loans.
- How can we help?
- We design a financial system including drafting a system for accounting procedures and processes – recording of entries, documentation of all transactions, segregation of duties, and bookkeeping.
- We shall set up the accounting procedures and software to carry out all the financial activities appropriately.
- We shall take up the data entry task and update all your accounts regularly depending on the frequency of your transactions.
- Our team will supervise and check from time to time whether the process is being followed accurately. Inefficiencies will be rectified during this procedure.
- Finally we shall prepare your income statement, balance sheet, cash flow statement, and statement of equity. All your reports will be prepared quarterly and annually for regular analysis of your financial performance.
- The solution is easy; opt for our Accounting Supervision Service. There are several means of committing and hiding a strategically planned fraud in an organization. Taking precautions is the best you can do to avoid incurring huge losses, or even bankruptcy, in the future. One could never know if one of your most trusted members could be cooking your books for personal gain. To avoid losing your life’s hard work and all the efforts you and your team have put into the business, our team will conduct a regular check of your entity. Since we are a third-party firm, no self-interest or self-review threats could cloud our judgment. You can fully trust us to ensure that the entries of your daily transactions, bookkeeping, and financial reporting are being performed honestly and truthfully.
- Don’t despair; sign up for our Updating Backlog Accounts Service. Maintaining proper books of accounts is a real challenge for small & medium enterprises. If your business is registered under commercial company law in UAE, it is compulsory for you to maintain all your financial transaction records in the prescribed format. Our team will help you to prepare books of account from the date of incorporation of business till the current date; as you provide all the necessary supporting documents; consisting of all the original purchase and sales invoices, payment and receipt vouchers, bank statements from the start of business and record of all the checkbooks used during the period. Our team of experts will update all the records in your company’s accounting software. You will be provided with the following financial reports:
- Balance Sheet or Statement of Financial Position
- Statement of Cash Flow
- Details of the Company’s Accounts Receivable
- Details of the Company’s Accounts Payable
- Efficiency Reports
- Calculation of Variances and Output Analysis
- Calculation of Financial Ratios and Analysis
- Calculation of the Break-even Point for the Company
We certainly can. The strongest pillar of your business is your employees; the best way to inspire their productivity is to ensure a healthy working environment that includes salaries being paid on time. Payroll management can become complex if not properly handled as it involves several perquisites and benefits instead of only wage calculation e.g. leave, vacation expense, insurance, medical benefits, etc. Focus where it matters; instead of wasting time researching salaries and wages laws and regulations, sign up with us for Payroll Services.
