Accountant Library
A free practical library: 30 articles with numeric examples, a glossary of 70 terms, a chart of accounts, and 14 sample journal entries.
Accounting basics
The accounting equation, journal entries, chart of accounts, bank reconciliation
5 articlesFinancial statements and analysis
Financial position, income, cash flows, financial ratios, closing
5 articlesBudgeting and costing
Budgets and cash budgets, break-even point, variance analysis
5 articlesInventory and operations
Inventory valuation, stock counts, turnover and slow-moving items, reordering
5 articlesE-invoicing and VAT
Both phases, FATOORA integration, the VAT return, credit and debit notes
5 articlesZakat, income tax and Qawaem
Zakat base, Zakat return, the Qawaem platform, Sharia Zakat
5 articlesUpcoming regulatory deadlines
Latest articles
The accounting equation and double-entry bookkeeping, with examples from a real store
How assets stay equal to liabilities plus equity after every transaction, tracing five transactions of an auto parts store with figures and journal entries.
Financial statements and analysisStatement of financial position: how to read it in 10 minutes
A quick, structured way to read the statement of financial position: what to look at first and which questions to ask about each line item, with a solved statement for a trading business.
Budgeting and costingThe difference between the balance sheet and the budget
In Arabic, the word mizaniya is used for two completely different things: a snapshot of what the business owns today, and a numerical plan for what it expects tomorrow. Learn the difference through a single example.
Inventory and operationsInventory valuation methods: weighted average cost and first in, first out (FIFO)
The same goods and the same sales, but a different profit depending on the valuation method. One example explains weighted average cost and FIFO, and why LIFO is not permitted.
E-invoicing and VATE-invoicing in Saudi Arabia: a guide to both phases for businesses
The difference between the Generation phase and the Integration phase, how to find your wave in Phase 2, and what you need to prepare before the deadline.
Zakat, income tax and QawaemZakat and income tax: who is subject to which?
When a business pays Zakat and when it pays income tax, and how the liabilities are calculated in a company with mixed ownership between Saudi and foreign partners.
Accounting basicsChart of accounts: how to build one for a trading business (levels, numbering, sample codes)
A practical way to design a flexible chart of accounts for a trading business: the number of levels, the numbering logic, and a ready table of codes to build on.
Financial statements and analysisThe income statement: from revenue to net profit
A step-by-step explanation of the layers of the income statement: net sales, gross profit, operating profit, then net profit after Zakat, with a complete solved statement.
Budgeting and costingHow to prepare an annual budget for a trading business, step by step
Four linked budgets: sales, then purchases, then expenses, then cash. A complete numerical example for a trading business, broken down by quarter.
Inventory and operationsPeriodic vs. perpetual inventory: which one suits your business?
Do you know your cost of sales every day, or do you wait until year-end? A practical comparison of the two systems, with the example of a pharmacy that uncovers a shortage that a periodic system would never have revealed.
E-invoicing and VATTax invoice vs. simplified tax invoice: when to use each
A practical guide to telling the tax invoice and the simplified tax invoice apart, the difference between Clearance and Reporting, and the data each invoice needs.
Zakat, income tax and QawaemThe Zakat base simplified, with a numerical example
A simplified illustrative example that explains the logic of the Zakat base: sources of funds, deductions, comparison with adjusted net profit, and calculating Zakat.