20+ Years of proven track record
Your Go-To Destination for
Accounting, Auditing, Business Advisory, Corporate Tax & Governance
Delivering Effective Solutions Where It Counts
Connecting
people across
the world
Providing the expert financial services to businesses and individuals with well experienced chartered accountants, Management Consultants, Business Analyst, System Analyst, Audit Managers & Senior Level Corporate professionals.
Our Services
As a prominent accounting and auditing firm in Dubai, we pride ourselves on our comprehensive financial services, which embrace a holistic approach. We meticulously analyze every facet of your business, ensuring a thorough understanding of the nuanced implications of each strategic decision, ultimately driving enhanced future performance.
Audit & Accounting
Business Re-engineering & Redesigning
Management Information System [MIS]
Descriptive Reports, Diagnostic Reports
Predictive Reports, Prescriptive Reports
MIS Reports
Descriptive Reports
Descriptive Reports provide the status of the business such as sales, purchase, customer, supplier, financial, production reports. It is in other words “What is” information.
Diagnostic Reports
Diagnostic Reports indicate that“What is wrong” in descriptive reports to the original “What is” based on current information.
Predictive Reports
Predictive Reports are future scenario and in other words “what if” based on current information
Prescriptive Reports
Prescriptive Report is nothing but "what should be done" to all the above findings and how to move forward.
Since 2004
Where numbers
meets Strategy, Excellence is
our Standard
Our Success Stories in Retail IndustriesHospitalityConstruction
As a partner of corporates, We have more than 400+ partners of all sizes and all potential.
A Tale of Triumph : Hussain Mohd Abbas' Journey to Success with Al Wasl Accounting
Experience the triumph of Hussain Mohd Abbas, gracefully guided by Al Wasl Consultancy. Dive into a narrative of resilience and sophistication, where challenges become stepping stones to remarkable achievements.
Witness the synergy between vision and expertise, crafting a story of timeless elegance and inspiration. Celebrate success, meticulously crafted with Al Wasl Consultancy's artistry.
— A Tale of Triumph
Hussain Mohd. Abbas' Journey to Success with
Al Wasl
In the bustling landscape of the United Arab Emirates, where innovation meets opportunity, one company has stood the test of time and emerged as a beacon of resilience and success.
History
Established in 1976, HMA is the oldest manufacturer of concrete blocks in the UAE. It has grown significantly over the years and is ranked in the top 5 by market share. The company primarily serves leading developers, villa projects, and manufacturing projects in the UAE. HMA's product portfolio includes various types of concrete blocks and interlocking tiles. It has participated in over 8000 projects in its 45-year history.
Key Milestones and Challenges
Half of all the UAE's construction project totalling $582bn (£ 400bn), have either been put on hold or cancelled, leaving a trial of half-built towers on the outskirts of the city stretching into the desert. The private sector contributed to 39% (Dh 350bn) to the GDP. According to preliminary data, the GDP grew by 13.9% in 2008 to Dh929.4bn, while the per capita GDP was projected to grow 7.1% Property value fell by 40% and scared the investors, thus causing a decline to profit margins due to low sales experienced.
The global financial crisis of 2008-2009 posed challenges to the company, resulting in decreased production capacity utilization and financial difficulties. In 2010, the company reached a breakeven point after Dubai's economic crisis, which led to extensive borrowing.
HMA management contracted with Dr Shaji to evaluate the company and to submit a diagnostic report and the same was submitted on November 2011.
Restructuring Efforts
Under Dr. Shaji Kochukutty’s leadership, HMA underwent restructuring from 2011 to 2014.
The major challenges faced were recession, no proper accounting system, no proper inventory control, no proper management control, dipping sales and overall performance, outstanding salaries and utilities, huge bank loans and facilities, huge suppliers outstanding, high financial cost, employment issues
Implementation method
Implemented measures included standard operating procedures, ERP system, management information system, standard costing, and sales credit policy.
Focus was on effective utilization of Human resources, production facilities, cost reduction methodology, product certification, brand equity, restructuring bank facilities, self-assessment system (Lab), production facilities and market segmentation.
Strategic management, Differentiation advantages, implementation of ‘porters 5 forces model’ , BGC Market & Ansoff – Matrix, implementation of balanced score card, value chain management, Pestle – theory application, Operation Management were also implemented.
Achievements and Growth
Implemented Standard Operating Procedure (SOP) , ERP system, Management Information System (MIS), Standard Costing , Sales Credit Policy, inventory controls
On May 2013, Factory got awarded from Dubai Municipality where it migrated successfully from conventional block certification system to achieve the Factory Assessment certification system. Since 2013 the certification has been demonstrated by the factory teamwork backed by the management thereby complying with annual audits conducted by Dubai Central Laboratory.
Strategic changes were made in marketing and clientele management, including adjustments to credit terms, marketing strategy formulation, and monitoring and evaluation.
By 2015, HMA became debt-free with zero cost of funds and improved supplier credit terms.
From 2016 to 2018, the company experienced exponential growth in turnover, gross margin, net margin, and operating profit. Strategic changes were made in marketing and clientele management, including adjustments to credit terms, marketing strategy formulation, and monitoring and evaluation.
4C model was implemented , focusing on customer solutions, customer cost, convenience, and communication, alongside the traditional 4Ps of marketing.
Overall, through strategic restructuring and effective management, HMA transformed its operations, overcame financial challenges, and achieved significant growth and market expansion.
— A Tale of Triumph
Hussain Mohd. Abbas' Journey to Success with
Al Wasl
Take your business to the next level.
Our Success Stories
As a partner of corporates, We have more than 400+ partners of all sizes and all potential.
