Establishments pay attention to analyzing their financial data and rely on periodic financial reports, in order to avoid any losses while increasing the opportunity for profit.
Therefore, preparing financial reports accurately and in a timely manner is of great importance for making appropriate decisions. Financial reports are considered one of the most important outputs of the accounting system of the establishment due to the accuracy and detail of the financial information of the establishment. Financial reports clarify the following points:
- Determine the financial and commercial capacity of the facility to avoid any losses and increase profits.
- Determine and detail the company’s debt and its ability to pay it.
- Determine the financial ratios and compare them with the facility’s business sector.
The parallel team works on preparing and developing the financial reports of the facility in a way that is useful for decision-making by the executive management of the facility.