To International organizations such as Almarai, utilization of accounting as the major tool of the decision-making process is key. To accomplish an efficient and effective accounting system consistent with a market economy, IFRS is the best option available. Globalization led to the need to develop one common accounting language to ensure uniformity and easier interpretability. The Saudi government, through SOCPA, ensured that it was not going to be left out in the massive transformation of the accounting world. Companies such as Almarai are today reaping the benefits of the kingdom’s push for companies to incorporate IFRS into the accounting system. The various financial statements show how deep IFRS reports provide information about its financial position, operations, and future financial prospects. It allows the investors and the shareholders and the employees and potential contractors to be certain about its stability in the current perilous market and its future. As such, IFRS is a vital tool in accounting, and thus, every company should be encouraged to adopt it.
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