Time Machine Financial Services
Contact Us

Financial StatementsPreparation

Year-end financial statements prepared to IFRS from properly closed books, ready for your auditor, your bank, your licensing authority and your Corporate Tax return.

  • IFRS Statements
  • Audit-Ready
  • For Banks & Regulators
  • Corporate Tax Base
  • Year-End Close

Published Updated

Year-End Numbers You Can Stand Behind

UAE financial statements are generally prepared under IFRS. Corporate Tax is calculated from the accounting profit in those statements, and some businesses, including those with revenue above AED 50 million and Qualifying Free Zone Persons, must have them audited.

Financial statements are used by more people than most owners expect: auditors, banks, licensing authorities and the FTA. We close the year properly, prepare the balance sheet, income statement, cash flow statement and notes, and make sure the figures tie back to your books and returns.

Advisors reviewing documents with a client (placeholder)

How Financial Statements Are Prepared

Six steps from year end to signed statements.

  1. 01

    Year-End Close

    Books brought up to date, reconciled and closed for the financial year.

  2. 02

    Adjustments

    Accruals, provisions, depreciation and other year-end entries posted.

  3. 03

    Draft Statements

    Balance sheet, income statement, cash flow statement and notes prepared under IFRS.

  4. 04

    Review With You

    Draft walked through with you, with questions answered before finalising.

  5. 05

    Audit Support

    Statements and schedules provided to your auditor, where an audit is needed.

  6. 06

    Final Statements

    Final statements issued for management, banks, authorities and the tax return.

What You Need to Provide

What we need at year end.

  • Year-end bank statements and confirmations
  • Sales and purchase records for the year
  • Fixed asset details
  • Loan and lease agreements
  • Inventory count, if you hold stock
  • Prior-year financial statements, if any

Why Use TMFS for Financial Statements

Clean statements make audits, tax returns and bank reviews faster.

Prepared under IFRS

Tied to your books and tax returns

Audit schedules prepared in advance

Suitable for banks and licensing authorities

Corporate Tax computation built from the same figures

Explained in plain language

The TMFS Advantage

What sets our reporting work apart.

From Your Books

Statements built from properly closed books, not estimates.

Tax-Aligned

The same figures feed your Corporate Tax return.

Audit-Ready

Supporting schedules prepared before the auditor asks.

Lender-Ready

Statements banks can use for credit reviews.

Why Businesses Choose TMFS for Reporting

Three things clients mention most.

Advisors reviewing documents with a client (placeholder)

Consistent numbers

Books, statements and tax return all agree.

Smoother audits

Auditors get what they need, when they need it.

Clear explanations

You understand what your statements say.

What Clients Say

Feedback from founders who set up with TMFS.

TMFS has truly been a game changer for me. Their personalized approach to financial services made the entire process easy and stress-free. I trust them completely with my investments and feel secure knowing my financial future is in safe hands.

VT
Vipul TibrewalMarketing Manager, PSP Marketing

I've worked with several financial firms, but TMFS stands out with their attention to detail and commitment to understanding my unique needs. Their professional team has guided me every step of the way, and I couldn't be happier with the results.

FA
Fatima Al MansooriRealtor, Frisko

TMFS has been incredibly supportive and responsive throughout my financial journey. Their personalized broker services have exceeded my expectations, and I now recommend them to anyone looking for trustworthy financial guidance.

PN
Priya NairSales

I came to TMFS with a business idea and very little idea of how UAE setup worked. They recommended the right free zone for my activity, handled the licence paperwork, and had my company registered within a week. What impressed me most was the banking. They prepared my bank application alongside the licence, so my business account was opened soon after instead of dragging on for months. One team, one point of contact, and no surprises on cost.

RM
Rahul MenonFounder, E-commerce Start-up

Keeping up with VAT and the new Corporate Tax rules was taking time away from running the business. TMFS took over our bookkeeping, registered us for Corporate Tax and now files our VAT returns every quarter, always ahead of the deadline. Their team explains what is due and why in plain language, and our accounts are finally clean and audit-ready. It is one less thing I have to worry about.

SW
Sarah WhitfieldDirector, Trading Company

TMFS handled my investor visa and then my wife's and children's family visas, and the whole process was far smoother than I expected. They told us exactly which documents we needed, booked the medicals and Emirates ID appointments, and kept us updated at every step. When we later hired our first two employees, they processed those visas just as quickly. I'd trust them with any visa matter.

OH
Omar HaddadManaging Partner, Consultancy

Financial Statements: Frequently Asked Questions

Common questions about UAE financial statements.

Do I need financial statements if I have no audit?
Yes. Corporate Tax is calculated from your accounting profit, and banks and licensing authorities often ask for statements.
Which businesses need audited statements for Corporate Tax?
Businesses with revenue above AED 50 million and Qualifying Free Zone Persons must prepare audited financial statements. Free zones and some mainland authorities may also require an audit for licence renewal.
Which standard do you use?
IFRS, or IFRS for SMEs where it is appropriate and allowed.
How long does preparation take?
It depends on the state of your books. If we keep them monthly, year-end statements are much quicker.
Do you sign the audit report?
No. Audit opinions are signed by a Ministry of Economy-registered auditor. We prepare the statements and support the audit.
Sources & official references

Federal Tax Authority (FTA) · Federal Decree-Law No. 47 of 2022 (Corporate Tax) · Ministerial Decision No. 82 of 2023 (audited financial statements)

Verification & independence

Prepared from publicly available guidance from the Federal Tax Authority and UAE federal law as of October 2026. Time Machine Financial Services is independent of the Federal Tax Authority and is not affiliated with or acting for any UAE government authority.

Financial reporting and audit requirements change. Confirm the current position for your situation with the Federal Tax Authority, or ask us, before acting on this page.

Get expert advice

Speak to a UAE setup specialist

Tell us what you need and a consultant will reply within one working day, with no obligation.

  • The consultant you speak to stays on your file
  • A straight answer on structure, cost and timeline
  • A reply within one working day
  • A free 20-minute consultation

Confidential · A consultant replies within one working day

Need Year-End Statements?

Talk to a TMFS consultant about IFRS financial statements that tie to your books and tax return.

Book a Consultation