Operating expenses not directly tied to producing a product, including sales, marketing, and administrative costs.
SG&A captures all the costs of running a business that are not production-related. Selling expenses include sales team salaries, commissions, advertising, and travel. General & administrative expenses include executive compensation, rent, utilities, insurance, legal fees, and accounting costs. SG&A appears on the income statement below gross profit and is subtracted to arrive at operating income (EBIT).
The original records that provide evidence a financial transaction occurred, forming the basis of accounting entries.
Source documents are the foundation of the accounting cycle. Every journal entry should be backed by a source document. Common types include invoices, receipts, purchase orders, bank statements, credit notes, debit notes, delivery notes, payment vouchers, checks, deposit slips, and contracts. In the UAE, the FTA requires businesses to retain source documents for at least 5 years for VAT and corporate tax audit purposes.
An official document issued by an employer confirming an employee's salary and employment details, widely required in the UAE.
A salary certificate in the UAE is required for bank account opening, loan applications, credit card applications, visa processing, and tenancy contracts. It must be printed on company letterhead and include: employee full name, designation, date of joining, basic salary, total compensation breakdown (including allowances), employment type, and the HR manager's signature with company stamp. Most UAE companies issue salary certificates within 2-3 business days upon request.
