The function of the Accounts Department is to provide useful financial and managerial information reports to the Director and the Deputy Director of the Medical Services and all the Head of departments to arrive better decisions.
The financial and the managerial information reports are governed by a set of rules called “International Accounting Standards” or IAS. These standards are the rules adopted by the accounting profession as guides in Measuring, Recording, and reporting the financial affairs and activities of the Medical Services.
On the other hand: IN EMERGENCY SITUATIONS the Accounts Department with coordination of the Director of Medical Services and Head Quarters will forecast an emergency budget for the Medical Services to fulfill the medical precaution plan.
1. Re-engineering the recording mechanism on the three systems to follow the professional way of recording i.e., implementing Debit – Credit (daily transaction records).
2. Producing financial statement reports (e.g., Income Statement, Balance Sheet and Cash flows), analyzing the financial status of any department in the Medical Services, the four Directorates and the organizations.
3. Introducing an auditing division to verify the financial and the statistical information.
4. Implementing ratio analysis to summarize the outcome for management decisions.
Examples of ratio analysis:
5. Graph and Chart Analysis is the professional way to report the outcome. It will guide the top management to analyze the following.