Our Finance and Accounting Department is responsible for managing our resources and our financial and accounting affairs and ensuring their sustainability. We treat financial figures as a basis for our decisions, not a formal report that is submitted periodically and then forgotten.
Finance & Accounting
Through this department, we manage our financial and accounting affairs and those of our brands. We prepare our financial reports and statements, manage our budgets, monitor and periodically improve our financial performance, and ensure compliance with financial and tax laws. We manage our financial accounts, prepare all our periodic financial reports, manage our budgets, and ensure compliance with applicable financial and tax laws.
First: The scope of our work
Our scope includes preparing our budgets, managing our accounts and financial records, preparing our periodic reports and financial statements, monitoring our financial performance, managing our collections and cash flows, and following our procurement.
Second: Our responsibilities
Managing our accounting entries
We record every financial movement as soon as it occurs, not at the end of the accounting period.
Preparing our financial reports
We prepare our periodic reports with an accuracy that allows our senior management to take its decision on them directly.
Managing our budgets
We estimate the budget of each of our departments, monitor its adherence to it, and escalate any material overrun as soon as we detect it.
Managing our collections and cash flows
We follow our receivables and work to collect them on time, because disciplined cash flow is a condition of the continuity of our operations.
Third: How we work
Every financial movement with us passes through four stages: recording it as soon as it occurs, then matching it with its supporting documents, then reviewing it within our periodic report, then reflecting it on the budget of the department or brand concerned. We do not treat any figure as final before these four stages are complete.
Fourth: Our relations within the Group
We estimate the budget of each of our departments and monitor its costs, and we support our daily operations by following the collections and invoices linked to them. We submit our periodic financial reports to our senior management, and not only when they are requested.
Fifth: The limits of what we present on this page
We do not publish our detailed financial figures or our complete financial statements here, because we treat them as sensitive internal information. To review our commitment to financial transparency and to not publishing any figure without a documented source, see the Governance and Sustainability pages.
