The accounting process extends over three stages. The first is the recording of the events, the second is collection and the third is the purpose.
In some firms, the firm may not have the ability to execute the second and third stages for conditions that may be related to the fact that the two mentioned stages need deal of experience that may not be continually available in some conditions for execution due to the high cost of obtaining these experiences. Therefore, we, in Ali Abd El Hafez, commit ourselves to execute the second and third stages in the way required by the accounting standards issued by decision of the minister of investment to submit this information in their final form to the concerned authorities, partners or stockholders.