Accounting branches

There are many accounting principles that any institution relies on to record financial statements. Afaky’s integrated accounting system ERP is characterized by compatibility with multiple accounting systems, support for commercial, industrial and service activities, and full compliance with tax standards in accordance with Egyptian law, and the integration system with electronic invoice. The most important of these branches are:

1. Financial Accounting
   It is concerned with providing historical economic and accounting information, as it gives an overview of the situation and financial performance, and studies cash flows according to certain accounting standards.
2. accounting administration
   It is concerned with the information used by the institution, which is usually confidential, and can only be accessed and viewed by a small number of people, who are decision makers, and its makers, as it aims to secure the necessary funding at the lowest possible costs, whether by offering bonds or stocks, It also works on balancing the institution's expenses according to its objectives and available financial resources.
3. Cost accounting
   It is the one who is concerned with everything related to the cost data, so it records and tabulates it, to provide the management with sufficient information about the cost that it must use for planning, control and pricing purposes. It greatly helps in exporting the financial statements to external parties.
4. tax accounting
   It is required to implement the instructions and tax laws, as it is a set of books and papers of a financial nature, which link the company with external official bodies, through which the institution's revenues and methods of obtaining the income of its members are determined.