Internal Audit

Accounting Bookkeeping

Accounting Bookkeeping

Accounting bookkeeping is the process of recording financial transactions that occur within an organization. The accountant records financial information and activities on a daily basis. Bookkeeping is one of the most important aspects of accounting, as it provides the information needed to prepare financial statements and other financial reports.

Importance of Accounting Bookkeeping

The importance of accounting bookkeeping is as follows:

Provides information for financial statements: Financial statements are an important tool for management, shareholders, and government agencies. They provide information about the organization's financial position and performance. Financial statements are based on the data that has been recorded in the accounting books.
Tracks the organization's financial performance: Accounting bookkeeping helps to track the organization's financial performance over time, which helps management make strategic decisions.
Identifies financial responsibility: Accounting bookkeeping helps to identify financial responsibility for the financial transactions that occur within the organization.
Complies with laws and regulations: Some laws and regulations require organizations to record financial transactions in a certain way.
Steps of Accounting Bookkeeping

Value Added Tax Consultation

Investing in Saudi Arabia

Investing in Saudi Arabia

Saudi Arabia is a country with a rapidly growing economy and a young and increasingly affluent population. This has made it a popular destination for foreign investors.

There are a number of reasons why investing in Saudi Arabia can be a good idea:

  • The country has a large and growing economy. The Saudi Arabian economy is the largest economy in the Middle East and is expected to grow at a compound annual growth rate of 7.4% from 2022 to 2025.
  • The population is young and increasingly affluent. The median age in Saudi Arabia is 25 years old, and the country has a rising middle class. This means that there is a growing demand for goods and services, which can create opportunities for businesses.
  • The government is committed to economic development. The Saudi Arabian government has launched a number of initiatives to attract foreign investment and to promote economic diversification.
  • There are a number of attractive investment opportunities in Saudi Arabia. These opportunities include energy, transportation, tourism, and healthcare sectors.
Zakat and TAX Consultation

ZAKAT AND TAX Cases of assessment and reassessment

Ibrahim Al Sulmi Company successfully objected to some zakat and tax reports on behalf of its clients to the General Authority of Zakat and Tax (GAZT). The company managed to spare its clients from the amounts imposed by the tax and zakat reassessment procedures by objecting to the incorrect reassessments issued by GAZT, either before GAZT itself or before the General Secretariat of Tax and Zakat Dispute Resolution Committees.

One of the most important reasons for Ibrahim Al Salemi Company's success in objecting to tax and zakat reassessment procedures is:

  • Its specialized team of qualified and licensed accountants from GAZT.
  • Its long experience in the field of tax and zakat consultancy.
  • Its use of the latest technologies and specialized programs in the field of tax and zakat reassessment.

Through its tax and zakat reassessment objection services, Ibrahim Al Salemi Company aims to:

  • Protect the rights of its clients from any additional amounts that may be imposed by GAZT.
  • Save its clients time and effort in dealing with tax and zakat reassessment procedures.
  • Ensure that its clients receive a fair outcome in tax and zakat reassessment procedures.

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