Financial Statement Preparation in Dubai

Statements We Prepare

A Complete Set of IFRS-Compliant Financial Statements

A complete set of financial statements under IFRS includes five primary components. Profitrack prepares all of them — with full supporting notes, accounting policy disclosures, and the clarity your auditors, investors, and licensing authority expect.

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Balance Sheet

Statement of financial position showing all assets, liabilities, and equity at the reporting date — properly classified as current and non-current with full reconciliation.

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Income Statement

Statement of profit or loss showing revenue, cost of sales, gross profit, operating expenses, EBITDA, finance costs, and net profit — by nature or by function.

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Cash Flow Statement

Operating, investing, and financing cash flows prepared under the indirect method — showing exactly how your business generates and uses cash.

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Statement of Changes in Equity

A full reconciliation of opening to closing equity, including profit for the year, dividends paid, share issues, and other comprehensive income.

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Notes to Financial Statements

All required IFRS disclosure notes — accounting policies, significant estimates, related party transactions, contingencies, and other mandatory disclosures.

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Consolidated Statements

Group financial statements consolidating all subsidiaries, eliminating intercompany balances, and presenting a true and fair view of the entire group.

Who Needs Financial Statements in the UAE

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Free Zone Companies

Most UAE free zones require annual audited financial statements for licence renewal. Profitrack prepares your accounts audit-ready well before the submission deadline.

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Corporate Tax Filing

UAE Corporate Tax returns are based on your financial statements. Businesses with revenue above AED 50 million must submit audited financials with their CT return.

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Bank Financing & Credit Facilities

UAE banks require financial statements for business loans, credit facilities, and trade finance. Profitrack ensures your statements meet bank requirements.

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Investor & Due Diligence Purposes

Whether seeking investment, selling the business, or bringing in new partners — properly prepared financial statements are essential for any due diligence process.

Frequently Asked Questions

The UAE requires financial statements to be prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). Listed companies and financial institutions follow IFRS as adopted by the UAE Securities and Commodities Authority. Profitrack prepares all financial statements to full IFRS compliance.

Yes. If your bookkeeping is incomplete or in poor condition, Profitrack first reconstructs and cleans your accounting records before preparing the financial statements. This is more time-consuming and carries additional fees, but we can work with whatever records you have to produce compliant financial statements.

For businesses where Profitrack manages the ongoing bookkeeping, annual financial statements are typically ready within 3–4 weeks of the financial year end. For one-off engagements where we are preparing statements from your existing records, the timeline depends on the completeness and quality of your books — typically 2–6 weeks.

Financial Statement Preparation Services in UAE