Creating a cost accounting scheme for a branch in Dubai

Task:

In order to extend its international consulting business, a medium-sized company from the sector of computer centre engineering has opend up a branch in Dubai, United Arab Emirates. Due to various aspects concering taxes, man power and remuneration, it necessitates the development and implementation of an accounting scheme specifically tailored for the Dubai branch.

Methods:

• Analysing and evaluating different accounting schemes
• Developing a purepose-built accounting scheme fort he consulting business in Dubai. Thus, competitive quotation costing is facilitated as well as the thorough examination of completed projects as to their profitability

Result:

Development and implementation of an accounting scheme fort he Dubai branch using a spreadsheet program.

Benefit:

The company now possesses an accounting scheme precisely adapted to the prevailing market requirements. The established accounting scheme now facilitates the calculation and evaluation of new products as well as staffing decisions (internal v external). Moreover, quotation prices of service products can be determined and the annual budgeting executed.