Theoretical Framework of Privatization, The Role of Accounting in Executing Privatization, and the Saudi Experience

The main objective of the study is to explore the privatization in its framework as an economic trend, the privatization goals and reasons in general and in Saudi Arabia in particular. The study concentrated on the role of accounting in privatization process and discussed some examples from different environments with emphases on privatization’s problems. Several countries executed variety of privatization programs to improve their economies. The study indicated that the objectives of and the reasons behind the privatization programs in Saudi Arabia are different from those of other countries. Privatization as other program has its negatives and positives, which must be considered before executing privatization. The study indicated the importance of accounting in privatization process. Accountants play the central role in evaluating businesses. Finally, accountants produce reports and accounting information to help all parties involved in privatization programs.