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What is an accounting period.

Dubai accounting

Accounting Period is a duration for which the books of accounts are prepared for any company or any individual. The Accounting Period is that financial period whose all financial transactions are checked and managed to get the profit of that year and from the Balance Sheet of the Company to know its financial strength.  The Accounting Period is generally defined as the organisation’s fiscal year.

India has its own Accounting Standards notified by the Ministry of Affairs which are converged with the International Financial Reporting Standards (IFRS) and formulated by the Institute of Chartered Accountants of India. So following that, India’s Accounting Period starts from April and ends in March whereas the top Accounting Firms in Dubai follow the principles which are in conformity with IFRS.

The period of accounting may differ in different countries according to the rules and principles followed by them. Generally the Accounting Period is of 1 year starting from January and ending in December thereby following a calendar year. However, some companies may even start their year from April and end in March instead of following the calendar year. The Accounting Period may not be necessarily of a year. It can be of a quarter as well.

All the important Financial Statements are during this period to determine the exact solvency position of the company. These Financial Statements are of utmost importance as they convey a lot of the profitability, solvency, turnover, liquidity and economic power of the company.

The basic Financial Statements prepared for the Accounting Period are:

  •         Income Statement
  •         Balance Sheet
  •         Cash Flow Statement

Among many definitions of the Accounting Period, one such definition is that it is a period for which the taxpayers determine their income tax liability. However, the series of events taking place have priorities among them. Here is what happens when the company’s Accounting Period ends:

  •         Transactions are entered into the Journal on their immediate happening as the first step.
  •         The journal entries are posted in the ledger accounts.
  •         The balance of each ledger account is then mentioned in the Trial Balance to check for correction.
  •         Finally, then the major Financial Statements portraying the performance of the company in the past year are prepared.

The companies are also seen to release their reports to SEC (Securities and Exchange Commission)on a quarterly basis. Many companies are even known to prepare their reports monthly i.e. to have an Accounting Period of one month. The Accounting Period should be of such gap so as to ensure that the company adheres to all other Accounting Standards and concepts to prepare correct Financial Statements thereby giving a true and a fair view to its clients and the market.

In today’s era, there is no need for maintaining the accounts manually; instead an Accounting Software is available to prepare all major Accounting Statements with inbuilt calculating functions. What a person can do is enter the Accounting Period in the Software by mentioning the start date and the end date and other necessary entries which are needed to be done.

Thus, they have managed a substantial role to play apart from just being a time span for which reports are made. Also, technically an Accounting Year is applicable only to the Income and the Cash Flow Statements and not on Balance Sheets because it is made for a specific date. It is indeed one of the principal terms which are essential for every company look upon.


What basic accessories are required by the photographers.

Photography in Dubai

It doesn’t matter if you are a professional photographer in Dubai or Delhi or New York or any city for that matter, there are some basic accessories that will not change wherever you go. These accessories will stay with you from the beginning of your photography career to the end of it. They will become your best friends in the field of photography and you should never let them go.

So what are these accessories that you should always have when you are out being a photographer in Dubai, say for example? There’re a lot of things that can be added to the list but a few things make it to the top of that list. What are they? Read on to know more.

  • Various Lenses and Filters

If you are a photographer, you will know that all the DSLR or mirror less cameras or whichever you use, have the option of changing lenses and filters for each situation. The stock lens that you receive will not be enough, it is never enough. Usually these lenses are only capable of taking pictures that belong to an amateur level. Hence, you will always require better lenses. This is very important when you are a professional photographer. Dubai is a famous place for buying these lenses. A lens filter is a simple equipment that is used to control lighting in your photographs and maybe even create some effects.

  • Tripod, Shoulder Rigs and Other Gears

If you are an amateur photographer, you might not find it that important but if you are a professional, regular photographer in Dubai or in any other crowded city, it is a very important tool. If you try taking handheld photographs, there are chances of being pushed and you might end up taking photos that are blurred. That won’t look good. Sometimes, the lenses can be really heavy and you won’t be able to hold it. These gears help in holding the same. These gears are also useful in taking group photos.

  • Memory Devices and Card Readers

This might seem very simple but it is very important. There are always a high chance of forgetting these things. What you have to never fail to remember is that, your job will be a failure without these. So whenever you are going out for a photoshoot or a photo walk, check properly that you have taken enough memory cards with you. In the digital age, the importance of memory card is very high. And, when you come back, you have to have the perfect device for the storage of these photographs. That is where card readers come in.

  • Artificial Lights

There is always a chance of having light problems during a photo shoot. This is one of the most common problems faced by a photographer. So make sure you have artificial lights like flash. This way you can take photos even in the darkest surroundings.

These are the most important and basic accessories that are required for a professional photographer. There are many other factors but we feel a photographer can’t survive without these.


Continuous growth on mobile technology.

When it comes to mobile technology, everybody wants and expects three things and that is for the technology to be faster, better and smarter. These three things have lately governed the development and growth of mobile technology. The number of users of mobile and all mobile apps has exponentially increased in the past decade and this has quite concomitantly increased along with the improvement in the mobile technology and internet connectivity. The telephone systems of Dubai can be said to be the biggest testament of the rapid growth of this technology. Some of the biggest developments in terms of mobile technology that have quite successfully ushered in the dominance of mobile technology in every sphere are:

  • Better operating systems

Each year one can see better and faster operating systems coming in the market. Each of these operating systems has something new and better to offer to the market. The competition in the market has also led to fast improvement in the quality of these operating systems. The scope of error is so small that on the first sight of some defect in the operating systems people do not hesitate in switching to new systems. In fact the vendors and developers are now only concentrating on the development of mobile operating systems and this is slowing leading to the replacement of computer technology with mobile technology, as now because of these operating systems anything that could be done on computers can be done on the mobile phones.

  • More user friendly

The advent of touchscreen smartphones has given the feeling of total control to the users of these mobile phones. Unlike many other aspects of mobile technology which in a way emulated the computer systems, the touch screen feature is something that has been copied in the computer systems. In addition to this the recent advancements in the mobile technology have made the phones extremely user friendly as these have better aesthetics, are easier to use and the user has the power to bring in modifications and control many aspects of the phone.

  • More Security

Nowadays people expect a lot of things from their phones and as things are going, the mobile phones will soon become your perfect assistant. Hence it is highly imperative for phones to be secure because there are many confidential files and mails that people keep in their phones which if gets leaked could create grave problems for the users. Hence it is highly important that these smartphones are secure so that data, corruption, loss and theft may not happen. The recent growth in mobile systems have ensured this as the smartphones are extremely secure and there are many applications that guarantee internet security and protection from viruses too.

Thus mobile technology has been growing incessantly and rapidly. With every new smartphone the appetite of users is also increasing as they are expecting something new all the time and the mobile systems are delivering too. Thus seeing the current pattern soon the  mobile phones will have all things that you had never expected so be prepared to be astonished.

Take Your Business in DUBAI to New Heights With the Latest IT Solutions

Sans titre-1

The IT industry is at its peak and day after day, you can notice new products and IT solutions for the growth of your business. There are various effective solutions that are beneficial for your modern day business. If you are running your business in Dubai, there are various IT solutions that you can try. You can manage everything with the help of new technology because the IT solutions are available for everything from attendance, payroll to the security of the enterprise. There are various IT support companies in Dubai that offer the latest software for security, management of attendance, document management, etc. You can get a personalized solution of every problem because IT industry has everything for you.

The latest IT software and application will provide you solutions for all problems. You can take your business to new heights with the use of latest technology. The followings are some important software that can help you to manage your business:

EDMS Software

The EDMS software is a specialized system to manage the electronic documents and you will be able to manage all documents of your corporation without any problem. The use of this software will reduce the need of keeping bulky records in the folders and files because all documents can be saved in EDMS software and you can save and retrieve them anytime. The eBiziiMS is a good software to manage the tasks with the highest efficiency. You can use this software to make the work of your human resource easy. This software will help you to manage the data of your all employees.

Smart Card Applications

The IT Support Companies in Dubai offer great solutions in the form of biometric-based attendance solution, smart card application, and other effective systems. All aspects of this system are related to the human resource because with the help of Biometric solutions, you can get fingerprints, facial, and retina recognition, and scanners to scan iris. These will help you to authenticate the identity of a person.

Security Solutions

The CCTV installation in Dubai will prove really helpful to control the unauthorized access of suspicious persons in the office building. The CCTV cameras are great for business establishments, such as restaurants, shopping malls, theaters, offices and various other public places.

Smart Technologies for SmartPhones

The smart technology is available for smartphones and you can manage your field work with the help of smartphone apps. The IT Support companies in Dubai help you to control your various operations. You can increase your efficiency and use GPS to solve your travel problems. These technologies are eco-friendly and are a great initiative to reduce the paperwork. The CCTV installation in Dubai offers a great security solution so that you can get rid of all security threats.

There are lots of leading IT companies in Dubai offering a great solution for the better control of all operations and activities of the business. You can get the advantage of these software programs to take your business to a new level.