Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.

The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows. Accounting challenges are not the same for every country.

UAE has its own challenges when it comes to financial matters and accounting laws. Accounting and VAT services in the UAE are focused on corporate tax laws rather than individual tax returns.