Friday, August 18, 2006

Small sized companies' accounts

As I see from the accountancy and audit practice I do in Syria, it is advisable that the accounting data to be recorded and classified in a way that the management and cost account are merged with the financial accounting system in small sized companies, the idea is to extract the needed information for the management to report it without a need for a mass change or adjusting, the benefits of this way is much more than the cost even if it takes from the accountant a big effort to do it and to record the transactions properly.
Because questions asked to the accountant by the management in Syria can not be answered due the typical financial accounting course, the questions are specialized and range from human resource duties to costing stock even to history of some non financial events.
Accounting entries are preferably to be recorded with full details and a special care and effort should be spent on the description, all this give the accountant the ability to answer the questions usually management is asking.

Waleed Tibi
Certified Accountant License 2446
Active member in Association of Syrian Certified Accountants No. 1608
Mobile: 00963-944-704454

Post Box: 6056 - Damascus - Syria
waleedtibi@gmail.com

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