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ACCOUNTS & FINANCE

The Department Overview

The Accounts department at Modern College of Business and Science (MCBS) plays a vital role in managing the financial operations and ensuring the financial stability of the college. With a focus on accuracy, transparency, and compliance, the department is committed to maintaining sound financial practices.

The Department Goals and Objectives

  1. Financial Management: Ensure effective financial planning, budgeting, and forecasting to support the college’s strategic goals and objectives.
  2. Financial Reporting: Prepare accurate and timely financial reports, statements, and analysis to provide stakeholders with a clear understanding of the college’s financial position.
  3. Compliance and Audit: Ensure compliance with relevant financial regulations, laws, and standards. Coordinate and facilitate internal and external audits to maintain transparency and accountability.
  4. Budget Control: Monitor and control expenses to ensure budgetary compliance and efficient resource allocation across various departments and projects.
  5. Cash Flow Management: Monitor cash flow, manage receivables and payables, and optimize working capital to maintain financial stability.

The Department Role

The Account department at MCBS has the following key responsibilities:

  • Financial Planning and Budgeting: Collaborate with other departments to develop and manage the college’s annual budget, ensuring alignment with strategic goals.
  • Financial Reporting and Analysis: Prepare accurate and comprehensive financial reports, statements, and analysis to support decision-making and provide stakeholders with a clear financial picture.
  • Payroll and Benefits Administration: Process payroll and manage employee benefits, ensuring compliance with labor laws and internal policies.
  • Accounts Payable and Receivable: Manage vendor payments, invoice processing, and collections to maintain good relationships with suppliers and ensure timely payment.
  • Compliance and Audit: Ensure compliance with financial regulations and standards. Coordinate and facilitate internal and external audits to maintain transparency and accountability.

Department Contact

For any inquiries or further information, please feel free to contact us at the following:
Email: accounts@mcbs.edu.om
Phone Call: 24 583528/529/526

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