Converting from cash basis to accrual basis

Providing fair opening balances for assets and liabilities, in accordance with the Public Sector Accounting Standards and the Public Sector Accounting Policies and Guidelines Manual in the Kingdom of Saudi Arabia, in addition to relevant regulations and manuals Preparing financial statements according to the accrual basis of accounting

1- Enhancing the principle of transparency and accountability by sharing information with the community and increasing focus to enhance control

2- Listing all assets and liabilities of government entities, thus showing the financial position of entities independently and the financial position of the state in a unified manner

3- Supporting decision-making and providing more accurate and comprehensive information to enhance planning processes and better decision-making regarding risks and opportunities and accessing accurate financial information on the costs of government services and their future obligations

4- Improving the Kingdom’s capabilities in all social, economic and financial fields in the public sector, as financial reports help in comparison at an international level

5- An integrated financial system and unification of accounting standards in the public sector and preparing financial and statistical reports consolidated at the state level, based on a unified accounting and financial policies structure