First question

Section I

The methods used to detect accounting errors vary and there are some errors that can occur during the accounting cycle and others that can be detected through the trial balance. In light of this, briefly discuss how to detect accounting errors and what are the methods used to correct them if they are discovered in the same accounting period in which they occurred or in a financial period after the occurrence of the error.

Section II

Accounting assumptions are a meaningful base for the formation of accounting principles and represent the cornerstone of their construction, and accounting principles draw the general framework that governs the methods and procedures used in proving financial operations and in preparing financial statements and statements, and are generalizations or general guidelines for what the accountant should follow in a particular situation to help solve accounting problems.

In light of your study of the financial accounting principles course, mention the most important assumptions and principles on which the accounting profession is based according to the opinion of the American Financial Accounting Standards $($FASB$),$ focusing on the historical cost principle and its concept, mentioning its advantages and criticisms, and making a comparison between the principle of historical cost and the principle of fair market value, with your opinion, by referring to references other than the textbook.

Second question:

Accounting is a social science and as a result of development, technological progress and economic growth, fields $($branches$)$ specialized in accounting have emerged, mention $4$ types of accounting branches with an explanation for each branch and the difference between the four branches.

Third question

On $1/1/2024,$ Moataz opened Al$-$Amal Ophthalmology Center, and during the first month of his work, the following operations were performed:

$-$ In $1/1200,000$ riyals were invested and deposited in cash as capital.

$-$ On $2/1,$ he paid the January rent of $10,000$ riyals in cash.

$-$ On $3/1$ devices and equipment were purchased for the clinic for $250,000$ riyals, $100,000$ riyals were paid in cash, and the rest was on the account.

$-$ On $4/1,$ an amount of $12,000$ riyals was paid in cash as a security deposit for one year.

$-$ On $10/1,$ the center made an advertising campaign for him in Al$-$Rabeeh magazine, and the value of the ads amounted to $2000$ riyals that were paid in cash

$-$ On $20/1,$ Khalid withdrew $7000$ riyals of cash for his personal use.

$-$ On $31/1,$ the cash receipts resulting from the disclosure during the month amounted to $62,000$ riyals

$-$ On $31/1,$ the salaries of the employees amounting to $32,000$ riyals were paid in cash.

By studying the accounting course, answer the following:

$1.$ Record the necessary journal entries for previous operations in the company's books.

$2.$ Post journal entries to ledger, and balance accounts

$3.$ Preparing the trial balance with balances for the financial period ending on $31/12/2023.$