Top Accounting and Bookkeeping firms in Oman
Aviaan Accounting is the leading auditing, bookkeeping, and consultancy firm in the UAE with a specialized workforce of certified accountants and trained staff in the field of taxation, auditing, business advisory, and document attestation services. We value integrity and honesty in our work and believe in building a sustainable relationship with our clients based on mutual benefit. We offer personalized accounting and bookkeeping services to organizations in accordance with the size, needs, nature, and business structure.
Our experts can manage all kinds of conflicts, identify bottlenecks, and suggest ways to improve the quality of business operations. Aviaan accounting renders professional services to a wide spectrum of clients that range from large companies to SMEs from diverse industry sectors.
Why Need Accounting and Bookkeeping Service in Oman?
A business entity comes into existence with one of the primary motives of earning profit while reducing operating costs. A number of financial and accounting transactions get initiated from the very first day which reflects cash inflow/outflow, variable/fixed expenses required to enter the operations, and a list of creditors/debtors. These transactions are to be recorded in accordance with rules and regulations set by the Oman government and tax authority. In case of non-compliance, companies might face severe penalties. Thus, hiring a certified accounting and bookkeeping provider in Oman will serve the purpose of overseeing all business matters.
Accounting and Bookkeeping Framework in Oman
Bookkeeping is the process of managing the records of individual transactions, whereas accounting focuses on analyzing and classifying these transactions. In Oman, the overall accounting framework is looked at by the Omani Government body OACPA, the Association of Chartered Accountants of Oman (OACPA) was established in 2016.
All companies after incorporation must get registered with the tax authorities and failure to do so will result in a penalty to be borne by the entity. In Oman, corporate tax is subject to 15% and micro-business are liable to pay corporate tax at a rate of 3%, which is to be registered at the Ministry of Finance in Oman. Moreover, Oman also has withholding taxes on dividend payments, interest payments, payments for technical services. To consider all these taxes, laws, and regulations is essential, however not all companies have the required expertise so they hire professional accounting and bookkeeping services in Oman.
Benefits of Accounting and Bookkeeping Services in Oman
Accounting and bookkeeping from a certified firm in Oman will facilitate the companies in the following ways:
- Record and update inflow and outflow of cash
- Manage account recordings to minimize financial issues and crisis
- The support decision-making process regarding company purchases and expansion
- The financial stability of the company receives highlighted
- Budget development and management
Aviaan Accounting; Leading Accounting Bookkeeping Firm in Oman
Maintaining, updating, recording, and managing the accounting books is a complex process but opting for a consultant or audit firm specialized in accounting and bookkeeping service in Oman can ease the process. We are here to help you in preparing your book of accounts, reviewing your financial transactions, and identifying any inconsistencies in accounts. We understand the integrity and essential role that accounting and bookkeeping play while establishing a business. Our bookkeeping and accounting services in Oman include:
- Spearheading Bookkeeping and financial accounting
- Managing Payroll and personnel administration
- Reviewing Audit reports, cash-flow forecasting, and bank reconciliation
- Monitoring Corporate secretarial services
- Conducting Company performance reviews
- Performing Compilation of financial statements
- Development of international tax structure
Feel free to contact us at info@aviaanaccounting.com to discuss your business accounting and bookkeeping matters. We are pleased to help you with high quality, efficient and timely service.