An Introduction to a Uniform Accounting System: The Egyptian Experience

This paper in an attempt to give an insight into the Egyptian Uniform Accounting System, which has sought to achieve the Following objectives: 1. To provide the necessary accounting information for planning and control at all levels of the economy 2. To coordinate financial accounting with national accounting in order to facilitate the computation of the gross national product (GNP). This is done through unifying terminology, standards, accounting concepts, and so on.3. To facilitate the tabulation and storage of data by an enterprise so that it would be easy for each enterprise to supply the information needed by the governmental bodies. The paper has highlighted the Egyptian Chart of Accounts and how financial and control accounts have been classified and coded in such a manner that links the micro-accounting with macro-accounting. Finally, an empirical case study has been examined where the Current Operations Account has been prepared in addition to the value Added Statement (VAS). Such a VAS has been prepared on the basis of: 1. The factor income model which is adopted by the Egyptian Uniform accounting System; and 2. The sect oral income model which is to be recommended by the author for some reasons. For instance, it distinguishes between the value added achieved by the company and that available for distribution