{"id":1169,"date":"2024-12-17T13:47:13","date_gmt":"2024-12-17T13:47:13","guid":{"rendered":"https:\/\/naha.org.sa\/association-financial-reports\/"},"modified":"2025-01-05T09:36:15","modified_gmt":"2025-01-05T09:36:15","slug":"association-financial-reports","status":"publish","type":"page","link":"https:\/\/naha.org.sa\/en\/association-financial-reports\/","title":{"rendered":"Association Financial Reports"},"content":{"rendered":"\t\t
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Association Financial Reports<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The association’s financial reports reflect our commitment to financial transparency and prudent management of resources, in line with the principles of good governance. These reports aim to provide a comprehensive view of the association’s financial performance, sources of income, expenditures, and general budget, with a focus on achieving strategic objectives and enhancing trust among shareholders and partners.<\/p>

Components of financial reports<\/strong>
General budget:<\/strong><\/p>

  • It shows actual revenues and expenses compared to the approved budget.<\/li>
  • It includes an analysis of funding sources such as donations, subscriptions, and government support.<\/li>
  • It highlights operating expenses and funded projects.<\/li><\/ul>

    Income statement:<\/strong><\/p>

    • It provides a detailed summary of the association’s revenues and expenses during a specific period of time.<\/li>
    • It includes an accurate classification of expenses by departments and activities.<\/li><\/ul>

      Cash flow statement:<\/strong><\/p>

      • It shows the cash inflows and outflows during the reporting period.<\/li>
      • It contributes to analyzing the association’s ability to finance its activities and pay its financial obligations.<\/li><\/ul>

        Annual financial report:<\/strong><\/p>

        • It includes a summary of all financial activities carried out during the fiscal year.<\/li>
        • It contains an analysis of financial performance and its comparison with planned goals.<\/li><\/ul>

          Transparency and Accountability<\/strong><\/p>

          • Financial reports are prepared in accordance with the accounting standards approved in the Kingdom.<\/li>
          • Reports are subject to periodic review by accredited auditing firms to ensure accuracy and credibility.<\/li>
          • Financial reports are presented to the Board of Directors and the General Assembly for discussion and approval.<\/li><\/ul>

            Objectives of Financial Reports<\/strong><\/p>

            1. Enhancing transparency and trust among members of the Association and shareholders.<\/li>
            2. Providing an accurate database to support future financial decisions.<\/li>
            3. Ensuring the optimal use of resources to achieve the Association\u2019s goals and initiatives.<\/li>
            4. Compliance with the regulations and laws related to non-profit associations in the Kingdom.<\/li><\/ol>

              \u201cFinancial reports are not only a tool for follow-up and accountability, but they are a reflection of the Association\u2019s vision towards achieving financial sustainability and enhancing its societal impact.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

              Association Financial Reports The association’s financial reports reflect our commitment to financial transparency and prudent management of resources, in line with the principles of good governance. These reports aim to provide a comprehensive view of the association’s financial performance, sources of income, expenditures, and general budget, with a focus on achieving strategic objectives and enhancing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1169","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/pages\/1169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/comments?post=1169"}],"version-history":[{"count":4,"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/pages\/1169\/revisions"}],"predecessor-version":[{"id":1486,"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/pages\/1169\/revisions\/1486"}],"wp:attachment":[{"href":"https:\/\/naha.org.sa\/en\/wp-json\/wp\/v2\/media?parent=1169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}