Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
Running a construction business in Bahrain is no small feat. Between managing labor, ordering materials, juggling multiple job sites, and handling client progress payments, your financials can easily fall behind. But here’s the thing—standard accounting just doesn’t cut it in construction.
You need specialized accounting systems that can track job costs, calculate percentage-of-completion revenue, manage retentions and advances, and stay compliant with Bahrain VAT regulations and MOICT reporting requirements.
At Fama BH, we provide tailored accounting services for construction companies in Bahrain—whether you’re a general contractor, subcontractor, civil engineering firm, or maintenance contractor. Our solutions are built around:
Project-based cost tracking
Progress billing and milestone recognition
Construction-specific VAT treatment
WPS-compliant labor cost management
We speak your language—BOQs, site cash, progress payments, and retentions. We help you turn your numbers into clarity, compliance, and control.
Unlike retail or services, construction projects often span months or even years, with payments tied to milestones, work completed, or retention clauses. Using simple monthly sales tracking doesn’t reflect your true income.
We apply construction accounting principles such as:
Percentage-of-completion accounting
Cost-to-complete forecasting
Deferred revenue for mobilization advances
This gives you a real-time view of profitability for each job and helps prevent overstatement or understatement of income.
Your costs don’t just come from invoices. They include:
Daily labor wages
Fuel and logistics
Material wastage
Site supervisor salaries
Subcontractor charges
We build accounting systems that track all these elements per job, so you know exactly what’s profitable—and what’s bleeding money.
The Ministry of Industry, Commerce and Tourism (MOICT) in Bahrain requires proper bookkeeping and financial statements for construction companies. At the same time, the National Bureau for Revenue (NBR) enforces complex VAT rules specific to construction:
Progress billing
Retentions
Mobilization advances
Reverse charge mechanisms (for some imported services)
We help you prepare audit-ready financials that comply with both institutions—so you avoid fines and delays.
We build detailed job cost sheets that track:
Material usage
Labor hours
Equipment rentals
Overheads allocation
This helps you understand the actual cost per BOQ item, so you can manage pricing, renegotiate terms, or improve execution.
We also prepare monthly WIP schedules showing:
Budgeted vs actual costs
Work completed to date
Remaining cost to complete
Estimated gross profit
This gives you (and your stakeholders) a real-time snapshot of project performance.
Got a messy Excel ledger or delayed books? We fix that. Our construction bookkeeping includes:
Cleaning up ledgers and correcting mispostings
Structuring your chart of accounts by project
Reconciling site cash and petty expenses
Catching up on months (or years) of old data
You end up with clean, accurate, and categorized books that tell the real story of your business.
We help you apply VAT properly on:
Advance payments
Milestone-based invoices
Retention releases
We also track input VAT on site purchases and subcontractor services, ensuring:
Maximum recoverability
NBR audit readiness
Timely and accurate VAT returns
Your projects don’t earn revenue all at once. We use construction-specific revenue recognition methods to align revenue with actual progress.
Our models calculate:
Percentage complete = (Costs incurred / Total estimated costs)
Revenue recognized = Contract value × % complete
Adjustments for retention and variation orders
This ensures your financial statements reflect the true status of each project.
Site tools, transport, engineering salaries—these don’t belong to one project directly. But they affect your margins. We help allocate:
Overheads across active projects
Shared resources by usage or headcount
Admin costs proportionally
This improves accuracy of job profitability and helps you price future bids smarter.
Own cranes, trucks, or construction machinery? We:
Track asset usage per site
Calculate depreciation correctly
Allocate equipment costs to jobs
This shows which projects are using more resources—and whether to rent or buy next time.
Labor laws in Bahrain require wages to be paid through the Wage Protection System (WPS). We:
Prepare compliant Salary Information Files (SIF)
Process weekly or monthly labor wages
Track attendance and overtime (via biometric or manual logs)
Manage compliance with LMRA regulations
This keeps you legal and your workers satisfied.
We manage:
Monthly gratuity accruals
Final settlements based on years of service
Leave encashment and bonus tracking
This ensures fair payouts and avoids disputes.
We handle:
Subcontractor billing approvals
Tracking advance payments
Retention percentages and release timelines
You’ll know what’s due, what’s pending, and when to release funds without affecting cash flow.
Minimize risks and maximize growth with our comprehensive accounting solutions in Bahrain.
Below is an overview of our general pricing packages for our suite of services in Bahrain. Costs vary depending on factors such as the services we offer.
Read some reviews and success stories from our loyal customers who achieved their goals and how our expert solutions have made a lasting impact on their growth, compliance, and financial clarity. Your success is our greatest achievement!
Client
I am so happy to have chosen this company! Right from the start it was a very easy decision, I knew I am in the right hands. They contacted me with every update they had and always kept me up to date with all the information and steps that we will proceed next.
Client
Highly recommend for anyone looking to establish a company in Bahrain! Waqas Akram and his team made the entire process smooth and stress-free. They were incredibly knowledgeable, responsive, and handled every detail with professionalism.
Client
The team was highly professional, efficient, and knowledgeable. They ensured that all paperwork and procedures were handled smoothly, saving us both time and effort. I highly recommend their services to anyone looking out there.
Client
Abdullah and the team have been great in assisting me with related tasks. In challenging timeframes they've supported me to ensure our company operations can start in Bahrain without any issues. Thank you. I will recommed their services.
Client
I was extremely impressed with their services. Their expertise made everything smooth and hassle-free. I highly recommend Setup in Bahrain for anyone looking for their business here. Their professionalism and commitment to customer satisfaction are top-notch.
With years of experience and a highly qualified team, we bring unmatched expertise and in-depth knowledge of Bahrain’s financial landscape to every service we provide.
Choosing the right audit partner is not just a compliance decision — it’s a strategic one. Our firm is trusted by businesses across Bahrain because we deliver more than just reports; we deliver value. We combine deep local knowledge, international audit practices, and a commitment to personalized service. With each engagement, we focus on clarity, accuracy, and strategic insight, helping you turn regulatory obligations into business advantages.
We’re based in Bahrain, with a team that understands the intricacies of the local regulatory landscape, including NBR, MOIC, and CBB requirements. At the same time, we follow international standards such as IFRS and ISA, making our reports credible not only in Bahrain but across international markets. Whether you’re a startup, family business, or a multinational branch, we speak your language — both culturally and financially.
One of the main reasons businesses engage in external audits in Bahrain is for Commercial Registration (CR) renewal and loan or investment applications. Our reports are formatted and signed according to MOIC standards and accepted by banks and government entities. We ensure your financials are presentable, defendable, and submission-ready — saving you time, money, and back-and-forth headaches.
Your audit is conducted by highly qualified, licensed professionals with certifications such as CPA, ACCA, CIA, CMA, and relevant MOIC registration. This isn’t just about ticking boxes — it ensures your audit is legally valid, technically sound, and professionally defensible. Every report is reviewed through a quality assurance process before delivery.
We understand that time is often of the essence, especially when audits are required for CR renewal or funding rounds. Our audit teams are efficiently structured, with clear timelines, digital collaboration tools, and a client dashboard for real-time progress updates. Fast delivery does not mean shortcuts — we maintain audit integrity at every stage while honoring your deadlines.
Our audit services span across dozens of industries in Bahrain — from logistics and healthcare to fintech, hospitality, education, and real estate. We bring industry-specific knowledge to every engagement, understanding the nuances of each sector’s operational and regulatory challenges. This ensures our audit approach is relevant, tailored, and impactful for your business.
We don’t just audit and walk away. Post-audit, we provide hands-on support for any rectifications needed, help you submit to relevant authorities, and guide you on how to improve controls, accounting systems, and VAT compliance. Our end-to-end audit service ensures that you’re not left in the dark once the report is delivered.
Auditing involves handling sensitive financial and operational data. We are committed to total confidentiality, and our systems are secured through encrypted document storage, limited-access file sharing, and strict non-disclosure protocols. You can be confident that your information is safe with us.
We believe in clear, upfront pricing without hidden charges. Whether you’re a startup needing your first audit or a complex group with multiple subsidiaries, we offer fair rates and customized packages that align with your needs and budget. Value-driven service is part of our audit philosophy.
Many of our audit clients stay with us for years — not just for audits, but for ongoing accounting, VAT, advisory, and compliance services. We build long-term relationships based on trust, responsiveness, and results. As your business grows, we scale with you — helping you stay compliant, confident, and ready for every financial milestone.
Our external audit process is designed to be seamless, structured, and stress-free for your business. From the first consultation to the final signed report, we follow a transparent and proven methodology that ensures accuracy, accountability, and complete compliance.
We begin with a discovery session, where we understand your business structure, financial year, operational complexity, and industry-specific audit requirements. Based on this, we build a customized audit plan outlining timelines, required documents, and reporting goals.
Our audit team then conducts fieldwork and testing — either remotely or on-site — by analyzing your financial records, general ledger, VAT returns, and compliance documentation. We use advanced tools to cross-verify transactions, evaluate internal controls, and flag inconsistencies.
Before finalization, we present a draft report to your management team for discussion and clarification. Once all revisions are incorporated, we issue your official signed audit report, ready for submission to banks, investors, the MOIC, or CBB.
Throughout the process, you’ll have access to a dedicated audit coordinator and real-time status updates. We ensure you feel informed, prepared, and supported — every step of the way.
Over the years, we’ve earned the trust of businesses in Bahrain by consistently delivering audits that are precise, punctual, and practical.
✅ Reputation for integrity: Our firm operates with full independence, which means our reports carry weight with banks, investors, and regulators.
✅ Client-first approach: We’re known for being approachable, responsive, and easy to work with. Our clients value our professional communication and fast turnaround.
✅ Bahrain regulatory expertise: From MOIC filing formats to NBR expectations, our auditors are fully versed in local frameworks.
✅ Proven track record: We’ve successfully completed audits for hundreds of companies — including startups, family-owned enterprises, and international branches.
✅ Comprehensive support: From audit readiness checks to post-report implementation, we stand by our clients beyond just report delivery.
Our focus is not just on issuing a report — it’s on protecting your business, strengthening your credibility, and ensuring you’re always a step ahead.
Compliance is not optional — it’s foundational. In Bahrain’s evolving regulatory environment, staying compliant with financial laws is essential for license renewals, bank relationships, investor confidence, and public trust.
We ensure that your business meets all key regulatory obligations, including:
Commercial Registration (CR) renewal audits mandated by the Ministry of Industry and Commerce
Bahrain VAT compliance audits and alignment with NBR documentation requirements
Central Bank of Bahrain (CBB) audit guidelines for financial institutions and licensed entities
Adherence to IFRS and IAS audit standards, accepted locally and internationally
Proper documentation for intercompany transactions, foreign investments, and capital structures
Audit trail support for anti-money laundering (AML) and due diligence
With us as your audit partner, you don’t just meet the minimum — you gain peace of mind that your business is operating within the full scope of Bahrain’s legal and financial framework.
Minimize risks and maximize growth with our comprehensive accounting solutions in Bahrain.
With a reputation for precision, and excellence, we are here to support your business growth while ensuring compliance with Bahrain’s financial and regulatory standards.
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Accounting, VAT, & Audit Services by famabh