Blog

Accounting Firms in Saudi Arabia

Accounting
أبحاث السوق ودراسة الجدوى لإدارة النفايات في المملكة العربية السعودية ودبي بدولة الإمارات العربية المتحدة

If you don’t have a financial background, managing accounts for your business can be a challenging task.

Then, choosing the right partner from an abundance of accounting firms in Saudi Arabia can be difficult too.

Let us help share our core areas of expertise, range of accounting services, and some tips to help you find the right accounting service provider.

Bookkeeping and Accounting Services in Saudi Arabia

Companies in Saudi Arabia must comply with the International Financial Reporting Standards (IFRS). Some companies may even need help in the transition to the IFRS standards.

Bookkeeping and accounting records set the basics for any finance department for a company of any size. However, employing a full-time accountant may prove costly for small businesses.

Outsourced bookkeeping and accounting firms in Saudia Arabia help you save cost and time. You’ll be able to focus on the core objectives of your business without compromising on the compliance side.

Our bookkeeping and accounting services include:

  • Account review, financial charts, and bookkeeping setup.
  • Data entry and optimization of accounting software
  • Financial reports
  • Bank account connection and segregation of accounts
  • Monthly, quarterly, and annual review of accounts
  • Secondary data-driven reporting and analysis

Payroll and HR Consultation Services

From sole proprietors to large corporations, every business requires payroll and human resource management services whether in-house or outsourced.

A comprehensive package of payroll services helps in maintaining records for your employee wages, compensation packages, bonuses, insurance plans, retirement plans, and other benefits.

Then, these records also help you account for payroll tax wherever applicable. With our expertise and experience, you can feel comfortable about your compliance obligations too.

Corporate and Income Tax Services in Saudi Arabia

There are no local taxes in Saudi Arabia and all corporate taxes are collected at the federal level. The current corporate tax rate is 20% in Saudi Arabia.

Non-Saudi shareholders of local and international companies, franchises, branches of international companies, and certain other companies must pay corporate tax in Saudi Arabia.

Saudi citizens and shareholders are not subject to corporate tax but Zakat. Zakat is charged at 2.5% while the withholding taxes range from 5% to 20%.

All businesses must comply with tax regulations and record-keeping requirements. Therefore, you must choose a trusted partner from the herd of accounting firms in Saudi Arabia to ensure compliance with the Saudi tax and zakat laws.

Audit and Risk Assurance Services

With digitization and e-commerce facilities, businesses face newer and unique risks every day. However, these challenges also offer newer opportunities to grow beyond traditional means.

Risk assurance, governance, and auditing services are important parts of the strategic management of any business.

Our risk assurance and auditing services include:

  • Review of all financial statements
  • Development and implementation of internal controls
  • Formulation and implementation of corporate governance policies
  • Financial and internal auditing services
  • Risk assessment, measurement, and prevention consultation
  • Forensic and special audits

We aim to help clients at every stage of the risk assessment strategy. We make sure to help you manage all types of business risks and make well-informed decisions.

Bank Account Reconciliation and Setup Services

Setting up a chart of accounts with accounting software and connecting business bank account can prove a daunting task for many business owners.

Then, you’ll need a consistent review of business bank accounts for reconciliation purposes as well. However, with hundreds of transactions every month, it becomes a time-consuming task.

Bank account reconciliation is a common service offered by almost all accounting firms in Saudi Arabia.

Cash Flow, Budgeting, and Planning Services

Working capital and liquidity management are often more critical than the profitability of businesses in many industries.

Careful planning and estimates of cash flows and working capital requirements set the foundation of liquidity management. It involves analyzing cash inflows and outflows with accuracy and estimation of anticipated changes as well.

We help our clients in the formulation of cash flow planning, developing cash budgets, review of budgetary controls, and forecasting to ensure they remain on track in terms of cash needs.

When other accounting firms in Saudia Arabia fail, our experts take a holistic approach when analyzing the cash needs of a business by including cash sales, accounts receivable/payable periods, debt financing, and supplier payments.

Business Valuation and Liquidation Services in Saudi Arabia

You may need business valuation services for selling or financing needs. Similarly, many businesses seek liquidation services as part of their exit plans.

Accounting firms in Saudi Arabia rarely offer Business valuation and liquidation services as these services require certain qualifications, experience, skills, and expertise.

Our team of highly qualified individuals and experts takes pride in offering business valuation services in Saudi Arabia and many other countries.

Whether you want to calculate business goodwill, full valuation, or require liquidation consultation, we’ll gladly help you through each stage.

Financial Reporting and Monitoring Services

Often the outcome or snapshot of accounting services comes through financial reporting. Financial reporting and monitoring services help you keep an eye on the financial health of your business at each stage.

As one of the growing accounting firms in Saudi Arabia, financial reporting, analysis, monitoring, and consultation are our prime services for our valued clients.

How to Choose an Accounting Firm in Saudi Arabia?

Accounting firms in Saudi Arabia follow the same regulatory environment. However, each one offers a unique set of skills and services.

Here is what makes us different from other accounting firms in Saudi Arabia.

Professional Advice, Consultation, and a wide range of Services

Our team comprises highly qualified individuals with years of experience in accounting, taxation, auditing, and business consultation services.

It enables us to offer a wide range of services to our clients in Saudi Arabia. Our experienced, skilled, and qualified team ensures professional advice for our clients at every stage of their business journey with us.

Affordable, Reliable, and Consistent Services

Unlike other accounting firms in Saudi Arabia, we do not exaggerate or offer inconsistent services to our clients.

We aim to keep our services reliable, consistent, and affordable at the same time.

Aviaan Accounting – A One-Stop Solution Provider for Accounting Services in Saudi Arabia

As one of the growing accounting firms in Saudi Arabia, we at Aviaan Accounting want to ensure our clients find a wide range of accounting services under the same roof.

We believe in helping you to focus on the core activities of your business rather spending too much time on number-crunching and tedious tasks.

Let’s talk further if you want to work with a professional accounting firm in Saudi Arabia to lead you through every step of your accounting needs.

How Aviaan Accounting can help with Accounting Studies

Aviaan Accounting can provide comprehensive assistance with accounting studies through its expertise, resources, and services. Here are some ways in which Aviaan Accounting can help with accounting studies:

1. Academic Support: Aviaan Accounting can offer tutoring and academic support for students pursuing accounting degrees or certifications. Their experienced professionals can help students understand complex accounting concepts, principles, and practices, ensuring a solid foundation in the subject matter.

2. Practical Training: In addition to theoretical knowledge, Aviaan Accounting can provide practical training opportunities for students. This may include internships, co-op programs, or hands-on projects, allowing students to gain real-world experience in accounting and apply their knowledge in a professional setting.

3. Access to Industry-Standard Software: Aviaan Accounting likely utilizes industry-standard accounting software and tools. By partnering with Aviaan Accounting, students can gain exposure to and training on these software programs, which will be valuable for their future careers.

4. Case Studies and Research Materials: Aviaan Accounting may have access to a wealth of case studies, research materials, and industry reports that can supplement accounting studies. These resources can provide students with practical examples and insights into various accounting scenarios and challenges.

5. Guest Lectures and Workshops: Aviaan Accounting professionals can be invited to deliver guest lectures, seminars, or workshops at educational institutions. These events can provide students with valuable insights into real-world accounting practices, emerging trends, and career opportunities in the field.

6. Networking Opportunities: By collaborating with Aviaan Accounting, students may have opportunities to network with professionals in the accounting industry. This can lead to valuable connections, mentorship, and potential job prospects upon graduation.

7. Curriculum Advisory: Aviaan Accounting professionals can work with educational institutions to provide feedback and recommendations on accounting curricula. Their industry expertise can help ensure that accounting programs remain relevant and aligned with current industry practices and standards.

Related Posts:

  1. Top-ranked-20-best-accounting-firms-in-dubai-uae-comprehensive-guide-and-review
  2. Aviaanaccounting
  3. Top-ranked-backlog-accounting-services-firms-in-dubai-uae
  4. Top-accounting-reconciliation-services-firm-in-dubai-uae-2024
  5. Top-best-accounting-firms-in-dubai-abu-dhabi-sharjah-uae
  6. Top-bookkeeping-and-accounting-firms-in-berlin-munich-germany
  7. Top-bookkeeping-and-accounting-firms-in-yishun-jurong-singapore
  8. Top-bookkeeping-and-accounting-firms-in-sydney-melbourne-australia
  9. Top-accounting-and-bookkeeping-firms-in-quebec-city-vancouver-canada
  10. Top-accounting-and-bookkeeping-firms-in-cape-town-durban-south-africa