Services Provided by the Finance Department:

The Finance Department plays a vital role, maintaining financial data on a time basis and ensuring accuracy to facilitate and speed up administrative decision-making.

Services provided by the Finance Department cover several areas, the most important of which are:

• Monitoring Expenses and Revenues:

  Providing data on expense items and their disbursements, as well as monitoring cash flows and other revenue data, and comparing them to the estimated budget.

  Accurate data on expense and revenue items provides important and essential information about the efficient operation of various departments to achieve the company's overall objectives.

• Cost Analysis:

  The Finance Department analyses spending and offers suggestions and solutions to reduce costs that benefit the company as a whole.

• Budgeting:

  Preparing the annual estimated budget is one of the most important objectives of the Finance Department. This is achieved by monitoring the spending activities of colleges and other departments to determine whether they are adhering to spending limits, correcting weaknesses, and enhancing strengths.

• Salaries:

  In cooperation with the Personnel Affairs Department, the department monitors employee salaries, including annual increases, bonuses, and rewards. This data is used to determine expenditures on a timely basis.

• Student Accounting:

  The Student Accounting Department monitors student financial matters, such as student balances, deductions, and transfers from one major to another. It also audits graduate accounts and monitors sponsors of scholarship recipients.

• General Accounting and Payments Accounting:

  This department monitors corporate accounts, audits transactions, and records them. It then disburses them to those entitled to them. It then provides the necessary financial data and reports to management after the audit.

• Main Fund and Sub-Funds:

  The Main Fund collects amounts received through the sub-funds in accordance with internal control principles.

• Fixed Asset Accounting:

  This department records the cost of newly purchased fixed assets, monitors existing assets, records depreciation on assets, and calculates the disposal of other fixed assets.

• Warehouse Accounting:

  This department audits the accuracy of the entry of purchase entries and the transfer of supplies and inventory by the Supplies and Procurement Department's warehouse staff, ensuring they are matched with purchase invoices, and overseeing the issuance of disbursements (disbursements) vouchers, in accordance with the existing warehouse system.