College of Administration and Economics

The Department of Accounting at the College of Administration and Economics, University of Mosul, discussed the master’s thesis entitled: “A Proposed Accounting System for the Directorates of Water in Iraq According to International Financial Reporting Standards (IFRSs)”

The discussion was attended by the Associate Deans for Scientific and Administrative Affairs.

The current study, presented by the student Waleed Khudhur Wali Al-Bayati from the Department of Accounting, aimed to:
Propose an accounting guide for a special accounting system for the Directorates of Water in Iraq in light of International Financial Reporting Standards (IFRSs), in addition to suggesting accounting treatments to improve the unified accounting system used in the Directorates of Water in Iraq according to IFRSs.

The study concluded with several findings, the most important of which are:
The creation of new accounts in the proposed accounting guide, including accounts that do not exist in the current unified accounting system. Examples include, but are not limited to, the revaluation surplus account and its related sub-items, claims and their related sub-items, and other comprehensive income.
Within the buildings account (sedimentation basins, filters, water wells, etc.), new sub-accounts were suggested.
The application of IFRS 18 leads to the creation of new financial statements, including the statement of other comprehensive income.

The defense committee was chaired by Professor Dr. Ziyad Hashim Yahya, and included as members Assistant Professor Dr. Ashraf Hashim Fares from Tikrit University, Assistant Professor Dr. Haitham Hashim Qasim, and supervised and co-examined by the Dean of the College, Professor Dr. Sinan Zuhair Mohammed Jameel.