Mukalla/ November 23, 2021 / University media

On Tuesday, November 23, 2021, the Faculty of Administration and Economics at Al-Ahgaff University held a scientific lecture entitled “Practical Practices of Accounting for Tenders, Contracts and Project Management” for fourth-level students specializing in accounting. The lecture was delivered by the trainer/ Ali Salem Ali Wabran, director of accounts for externally funded projects at the local water and sanitation corporation in coastal Hadramout.

The lecture opened with a welcoming speech from the Dean of the Faculty, Professor / Alawi Abdel Qader Al-Aidarous, in which he welcomed the return of Professor Ali Salem Wabran to his second home, Al-Ahgaff University, as he is one of the graduates from the Accounting Department, batch of 2006. He pointed out the importance of holding practical and professional courses for students of the Accounting Department, as it is considered a key to their future work in the workplace. The Dean of the Faculty also indicated that the Faculty is continuing the approach of blending theoretical education with practical and professional training, and this lecture will be followed by training courses and workshops for the Faculty’s students during the coming period.

The lecture began by first introducing the Yemeni Law of Tenders and Auctions and its Executive Regulations, clarifying the concept of tender and types of tenders under Yemeni law, then the subject of tender documents and what the tender document consists of such as the bill of quantities for the tender, the estimated cost, the technical specifications of the tender, the process of submitting financial offers to the authorities and how to award tenders dealing with bank guarantees.

Reference was also made to the process of transferring the project to the Project Implementation Department and how to deal with the competent engineer to supervise the implementation of the project and follow up the implementation work by the project executing company, as well as examining the materials supplied to the project through the specialized technical committees.

Then, the applicable accounting processes were discussed, such as handling the costs of preparing the engineering study for the project, and all the expenses incurred to the contractor from the extracts and dues of the supervision staff, the fees of the examination committees, the initial receipt and the final receipt and uploading them to the accounts of the projects under implementation. The issues that are taken into account and monitored in the extracts of the project executing authority were also discussed, and the down payment account was monitored - in case an advance payment was paid to the contractor at the beginning of the project – and the down payment was replaced and the maintenance guarantee value was deducted from the contractor’s dues.

The lecture concluded by opening the session for questions and answers.

At the end of the session, the Dean of the Faculty of Administration and Economics, Professor / Alawi Abdel-Qader Al-Aidarous, honored Mr. / Ali Salem and Wabran with a certificate of appreciation, thanking his efforts to make the lecture a success.