It is a set of technical steps and methods that can be followed to record, classify data, and inputs, and it also includes processes that explain changes in economic events and financial information that managers, investors and tax authorities use in making their decisions, which aim to distribute the resources available in the institutions , And companies well and efficiently.
It can be said that accounting is a science concerned with measuring and explaining financial activities, by disclosing the available financial information through preparing them in lists for specific periods of time, often quarterly, so accounting is called the language of business.
First: We must define the duties of the accountant: One of the main responsibilities of the accountant is to answer the questions of the owners of the institution and the administrators about the results of his activities, the financial situation of the project and how to formulate the balance sheet, whether the financial period ends with profits or losses and whether the institution is able to fulfill its commitment towards its owners and competitors, whether The institution has been liquidated or whether funds are sufficient to meet these obligations, at least in the short term. In order for the answer to be credible, it must be preceded by certain actions taken by the chartered accountant.
Based on maintaining a group of top-level accountants to assist in the financial management of client activities, including the following:
1- Establishing account books, registering and certifying them by authentication bodies according to the law.
2- Ensuring the legality of expenses and revenue documents in terms of form and content.
3- Create the required journal for the company and technical accounting guidance for it.
4- Analyzing financial information.
5- Commitment to the general books of accounts in accordance with the accounting standards.
6- Maintaining the internal audit.
7- Adherence to the sub-ledgers approved by the tax authority.
8- Preparing financial reports, approving the balance sheet and presenting it to the owners, in addition to financial indicators and charts.
9- All other accounting operations.
Preparing and Designing the Accounting System
Preparing the accounting system in line with the nature of the establishment’s activity and in a way that achieves efficiency in performance and protects the interests of the facility from the dangers of fraud, errors, deviation from procedures and violation of the established policies, in addition to completing the accounting registration in accordance with the generally accepted accounting rules, and the accounting organization covering all aspects of the company’s business in relation to its operations An impact on the financial aspects to be used in its various operations necessary to manage the activity of the facility.
The accounting system includes the following main components:
• Book group and accounts directory.
• Documentary collection and a copy of the various forms to be used in various operations.
• The operations cycle of the main activities in the facility.
• Internal control and the most important procedures to be followed.
• Evaluating the employees of the financial administration to ensure the availability of people who are scientifically qualified and have an appropriate amount of experience to allow the application of the system, it is accepted that the performance and success of a system depends on the efficiency and honesty of those in charge of its implementation.
Auditing and Supervision of Accounting
• The scope of our work includes accounting supervision in covering the financial activities in the facility and periodic follow-up to verify the validity of the results and to follow the generally accepted accounting rules to achieve the correctness and accuracy of the results extracted from the accounting records, and it also includes the following points:
• Reviewing the internal control system to ensure that it is being followed and that its procedures are correct.
• Supervising the validity of accounting guidance.
Ensuring that the accounting system is implemented and working through it.
• Verifying the implementation of the accounting system and working through it.
• Supervising the maintenance of books, accounting records and financial reports.
• Conducting the necessary tests to achieve our mission and validate the results.
• Submitting a report that includes weaknesses that grow to our knowledge through supervision and providing our recommendations in this regard.
• Reviewing the import cost of imported consignments, taking into account customs duties, expenses, bank commissions, administrative expenses of the Ministry of Economy, and the expenses for customs clearance as well as calculating the added or calculated value of the sales tax, with the aim of determining the appropriate price for the costs.