Bahri Annual Report-2016



Bahri Annual Report

Bahri Support Services

Bahri Annual Report

Bahri Support Services

analyzed and addressed, through the monitoring of the business unit’s operations, which will help Bahri achieve it’s business objectives and exploiting potential opportunities as they arise.

BahriFinancemonitorsthecompany’s fiscal and monetary performance and compares it to initial projections to ensure that the company can generate the targeted revenue and maintain expenditure discipline. Moreover, significant deviations are

in Saudi Arabia and utilizes the best international practices. In addition, it ensures accuracy and transparency of the information, enabling users of the financial statements to understand the Company’s performance and its evaluation.

Finance Division develops the policies, mechanisms and controls necessary at the different levels of the Company and various business units, inside and outside the Kingdom, to record all financial transactions under the accepted accounting standards

Monitoring Business Units Performance and Controlling Revenue and Expenses

Prepare Reports and Publish Period Financial Statements

prepared in conjunctionwith business unit, thereafter they are reviewed by the senior management and submitted to the Board of Directors for approval. Moreover, the budgets are updated on a quarterly basis, to take into account changing market conditions, given that initial financial data is based on performance and market projections, which can change based on circumstances.

financial ratios and soundness of the financial position of the Company or performance for each period. Findings of the financial analysis are considered and recommendations are made to the senior management to take appropriate decisions.

Bahri Finance is responsible for the regular preparation of company’s yearly budgets, in coordination with all business units and departments. The preparation is preceded by a thorough analysis of the economic and commercial conditions based on the best available information, with the aim of increasing shareholder value, profit maximization, whilst applying strict expenditure control strategies. The draft budgets are

At different intervals throughout the year, the Company’s financial performance is analyzed from different perspectives, including performance analysis and comparison with previous periods or existing budgets; or analysis of

Prepare Annual Estimated Budgets

Analyzing the Company’s Financial Performance

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