An official government website affiliated with the Government of the Kingdom of Saudi Arabia
Financial Administration
Leadership in implementing King Khalid University’s budget to achieve financial sustainability by enhancing spending efficiency within the framework of the state’s general budget, in accordance with the strategy for transition to the accrual accounting basis by the year 2030.
Supporting and assisting the university sectors in directing expenditures and implementing the budget policies and instructions approved by the Ministry of Finance, in accordance with the national program for transition to the accrual accounting basis, through benefiting from the available financial systems.
Supporting Saudi Vision 2030 by achieving its sub-objectives derived from the main objective of “Enhancing Government Effectiveness” and achieving financial sustainability.
Developing advanced mechanisms for measuring expenditure performance for expenses, programs, and projects.
Automating financial reports in a manner that contributes to achieving the pillars of transition to the accrual accounting basis.
Developing the tools, methodologies, and methods necessary to improve the efficiency of financial procedures and operations.
Creating an effective work environment characterized by excellence in performance and accuracy in achievement.
Assistant Director of Financial Administration
Preparing the Financial Administration strategy (including the vision, mission, and strategic objectives) in alignment with the university’s strategy.
Working on developing the organizational structure, policies, procedures, and financial forms of the university in line with the requirements of the Ministry of Finance.
Ensuring the implementation and execution of regulations, policies, and procedures related to the Financial Administration.
Ensuring that all accounting transactions and journal entries (including end-of-period adjustments) are recorded and posted to the general ledger.
Ensuring the periodic closing of financial periods according to monthly and annual closing activities and preparing financial reports (including disclosures) in accordance with approved accounting standards and policies.
Communicating with the university’s internal entities to ensure the completeness and accuracy of financial data and information.
Following up on maintaining financial policies and procedures (including forms and authority matrices) and updating them periodically after obtaining the necessary approvals from the authorized authority.
Communicating with the Accrual Accounting Center when necessary to interpret accounting treatments or explain policies, procedures, the chart of accounts, and approved forms.
Financial Accounting Unit
Implementing and executing regulations, policies, and procedures related to the Financial Accounting Unit and proposing amendments to approved documents based on actual implementation and work requirements.
Approving daily journal entries related to fixed assets, expenses, accounts payable, revenues, and accounts receivable, and verifying their accurate and proper recording and processing (accounting and mathematically).
Reconciling the fixed assets register with book balances periodically and approving them, in addition to communicating periodically with the departments concerned with fixed assets to update the fixed assets register and process related journal entries.
Approving accrued expense statements and adjustments related to accrued expenses.
Ensuring the claims register is updated periodically.
Reviewing administrative reports related to the unit according to university requirements.
Providing all accounting entries and supporting documents related to the unit to internal and external supervisory authorities within the specified period.
Following up on the archiving process of accounting entries and all supporting documents.
Approving the posting of journal totals for various items related to fixed assets, expenses, accounts payable, revenues, and accounts receivable.
Revenues and Accounts Receivable:
Preparing and reviewing daily journal entries related to revenues and accounts receivable under the appropriate accounting item.
Coordinating with the Cash Management Unit to prepare accounting entries related to collections from customers.
Preparing and reviewing reports on accounts receivable and doubtful debts and ensuring their accuracy and correctness.
Calculating gains or losses arising from the sale of financial and non-financial assets and including them within the surplus or deficit according to approved accounting policies.
Processing revenues resulting from dividends and interests and processing investments using the equity method and investments in financial assets.
Reconciling realized revenues with accounting records in the entities concerned with revenue collection periodically during the financial period.
Archiving accounting entries and all supporting documents.
Preparing and reviewing administrative reports related to revenues and accounts receivable for submission to the authorized authority.
Posting journal totals related to revenues and accounts receivable to the general ledger.
Expenses and Accounts Payable:
Preparing and reviewing daily accounting entries related to expenses and accounts payable (including payroll expenses, employee benefits, temporary and permanent advances) under the appropriate accounting item.
Preparing statements of accrued expenses.
Preparing and updating supplier claims registers periodically.
Archiving accounting entries and all supporting documents.
Preparing and reviewing reports related to expenses and accounts payable for submission to the authorized authority.
Posting journal totals related to expenses and accounts payable to the general ledger.
Fixed Assets:
Calculating depreciation and depletion of fixed assets in accordance with approved accounting policies.
Receiving reports related to the impairment of fixed asset values from the committee concerned with evaluating fixed assets and determining the need to record the necessary entries in the journals.
Preparing and reviewing daily accounting entries related to fixed assets according to supporting documents received from the departments concerned with fixed assets.
Receiving the fixed assets register from the departments concerned with fixed assets and reconciling it periodically with book balances and processing discrepancies.
Archiving accounting entries and all supporting documents related to fixed assets.
Preparing and reviewing administrative reports related to fixed assets and submitting them to the authorized authority.
Posting journal totals related to fixed assets to the general ledger.
Cash Management Unit
Implementing and executing regulations, policies, and procedures related to the Cash Management Unit and proposing amendments to approved documents based on actual implementation and work requirements.
Following up on the unit’s activities and ensuring that all transactions are executed accurately and correctly.
Following up on the periodic cash inventory process for receipts and payments.
Reviewing reports issued by the Cash Management Unit and submitting them to the authorized authority.
Receipts:
Performing bank reconciliations in coordination with the Revenues and Accounts Receivable Unit and the General Ledger Unit to record reconciliation entries within the specified financial period.
Monitoring the bank account daily to verify incoming transfers (receipts) and matching them with incoming bank notifications.
Receiving cash from the concerned parties (supplier/entity), preparing a daily receipts breakdown statement, and ensuring its reconciliation with receipt vouchers.
Ensuring that the bank notification is sent to the Revenues and Accounts Receivable Unit after depositing cash into the university’s bank account to prepare the necessary reconciliation entries.
Conducting cash inventory in accordance with the university’s approved policies and procedures on a periodic basis.
Archiving all supporting documents related to receipts operations in the Cash Management Unit.
Payments:
Issuing and following up on disbursement orders and payment orders after verifying the validity of supporting documents and notifying the Expenses and Accounts Payable Unit to record the necessary accounting entries.
Performing bank reconciliations in coordination with the Expenses and Accounts Payable Unit and the General Ledger Unit to record reconciliation entries within the specified financial period.
Conducting cash inventory in accordance with the university’s approved policies and procedures on a periodic basis.
Archiving all supporting documents related to payment operations in the Cash Management Unit.
Advances:
Carrying out the process of opening, closing, and reimbursing permanent and temporary advances after obtaining the appropriate approvals.
Reviewing approved requests for reimbursement of permanent advances for the purpose of recording the disbursed amounts within the specified financial period.
Control and Reporting Unit:
General Ledger:
Verifying the posting of all daily journal entries prepared by the Financial Accounting Unit to the general ledger.
Ensuring that all adjustment entries at the end of the financial period (monthly and annual) are entered by the Financial Accounting Unit.
Completing all monthly and annual closing activities in cooperation with the concerned units.
Reconciling the balances of accounting books and records with the balances of the general ledger.
Maintaining and updating monthly and annual closing activities in line with actual implementation and any new requirements arising in the Financial Administration units.
Ensuring the closure of the journal ledger.
Preparing the trial balance and ensuring the balance of accounts.
Following up with the Financial Accounting Unit regarding the need to add, modify, or deactivate an account.
Archiving accounting entries and all supporting documents related to recording and processing provisions.
Preparing and reviewing accounting entries related to recording and processing provisions (excluding employee benefits).
Financial Reports:
Receiving the approved trial balance and reconciling the debit side with the credit side, and identifying items related to the statement of financial position and the statement of financial performance.
Preparing financial reports (including disclosures) in accordance with the requirements of approved accounting policies, including the statement of financial performance, statement of financial position, statement of changes in net assets, cash flow statement, and variances between actual performance and budget.
Preparing reports on the university’s long-term financial sustainability, identifying the related information and assumptions, presenting the most significant expected future inflows and outflows, and updating them.
Preparing a review and analysis report of the financial statements, including an overview of the university’s financial operations, trends, and any future risks.
Identifying any items in the financial statements with significant changes and reviewing the related ledger to ensure the correctness and accuracy of accounting entries recorded during the specified financial period.
Reconciling the opening balances of the financial statements with the closing balances of the previous financial period (while coordinating their processing with the Financial Accounting Unit) and notifying the concerned entities (including supervisory authorities) of any impacts on previous financial periods.
Archiving all financial and administrative reports and supporting documents.
Coordinating with internal and external supervisory authorities and providing them with all financial and administrative reports and supporting documents on time.
Cost Accounting:
Determining the main principles to be followed in the process of calculating and allocating costs.
Understanding and analyzing cost elements and cost drivers for each project and distinguishing between direct and indirect costs.
Following up on the cost calculation process based on cost allocation in cooperation with the relevant technical entities.
Participating with the relevant university entities in determining the cost of goods and services.
Linking and aligning cost reports with financial statement reports to ensure consistency across financial periods.
