Activity – ACCT 201
Description
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The Royal decree has been issued approving a project to
transform all government agencies from applying the cash
basis
to
the
accrual
basis
of
accounting.
The project comes in accordance with international
accounting standards in the public sector in the Kingdom of
Saudi Arabia and to build the Kingdomàfinancial position in
order to achieve one of the pillars of the KingdomàVision
2030 concerned with improving the quality of financial
accounts and enhancing transparency within the program to
improve the government accounting system and accounting
audit
standards.
In a brief response, write about this transformation and the
difficulties that government agencies may face in
implementing such a huge accounting transformation.
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