Description

The financial operations are the focus of the accounting systems and the first stages of the accounting cycle. These processes are analyzed and recorded in the books and transferred to the competent accounts and show their effects on the final accounts and financial statements of the establishments on an accrual basis to record and load both revenues and expenses for the accounting period without regard to collection or payment. Cash and cash equivalents for these revenues and expenses during the accounting period in question. Therefore, in accordance with this accounting basis used in many accounting and economic establishments and units, As a result of certain adjustments at the end of the accounting period of some of the accounts in the facility in order to comply with generally accepted accounting principles and standards.