The research aims to demonstrate the possibility of setting proposed targets for water resources accounting statements in light of the (GFSM), based on the growing importance of water resources as a strategic natural resource and an economic and sovereign asset that affects the financial and environmental sustainability of the country. The research problem is the inadequacy of traditional government financial statements to provide adequate information about water stocks and flows, depletion costs, and future commitments related to the protection and efficient management of water resources.

The research relied on deductive and inductive methods in presenting and analyzing the literature and studies related to water resources accounting and the Government Financial Statistics Manual, with the aim of building a theoretical framework that helps formulate proposed objectives for water accounting lists. The research concluded that the integration of water resources within the framework of (GFSM) contributes to enhancing the measurement and disclosure of water resources, providing more appropriate information for decision makers, as well as supporting transparency and institutional accountability and evaluating the efficiency of water resources management.

The research also concluded that setting targets for water accounting lists helps in shifting water from being a traditional natural resource to an economic and sovereign asset that requires measurement and control, and enhances the state's ability to assess financial and water sustainability and rationalize public spending. Thus, the research hypothesis of the possibility of setting targets for water accounting statements in the light of the (GFSM) was realized.