As the department is a substantial part of the NCDR, our team holds efficient skills and experience in accounting.
The Department mission focuses on offering differential services according to the standards of performance and accuracy in cooperation with another department.
The Role of the Financial Department:
The Financial Department has a vital role. It keeps financial data on a chronological basis to facilitate taking accurate administrative decisions by using the most modern ERP System “Enterprise Resource Planning”, and by annual auditing via KPMG, Deloitte,or EY Companies, and the Governmental Audit Bureau.
The following are the major services offered by the Financial Department:
1) Following up on expenses and revenues:
The Financial Department provides data about the itemized of expenses and aims of expenditure.
It also follows up money inflow, as well as other revenues data and compares them with the budget. Accurate data about expenditure and revenues gives important and necessary information about the efficiency with which management of departments are operated successfully to achieve the goals.
2) Analyzing the expenditures:
The Financial Department analyzes the manner of expenditures and presents solutions and proposals for lowering costs, which will benefit the NCDR as a whole.
3) The Budget:
The budget is estimated by following the expenditure activities of other departments to see if they are minimizing the expenditures and rectifying points of weakness on a temporal basis.
In cooperation with the Human Resources section, the financial department follows all staff members, annual increases, allowances, and remunerations
5) Payment Accounting:
This section provides and deals with all accounting transactions for the whole NCDR, and follows the liability of creditor and debit companies, audits transactions, records them and pays them according to the financial principles.
6) Fixed Assets Accounting:
This section is responsible for recording the cost of newly-acquired fixed asset, tracking existing fixed assets, recording depreciation, and accounting for the disposition of fixed assets.
7) Warehouses Accounting:
This section is responsible for the financial approval of the purchase invoices which was previously entered by warehouse staff, as well as supervises the output vouchers issued by warehouses staff.