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Inventory Valuation and VAT Would changing the inventory valuation method from First In First Out (FIFO) to Weighted Average (WA) or vice versa reduce my VAT payments? VAT is computed on the amount paid to purchase or sell an item. So, in case a retailer purchases stock for 1,000 BD from a distributor, the VAT … Read more
Advantages of using Accounting Software Updated accounting data has many advantages for any establishment, and these advantages will be more valuable if you manage it through an accounting software. Through it you will know what happens in your business, reports will be generated automatically and without losing effort or time in them. Accounting software or … Read more
Introduction Back in 2015, the International Organization for Standardization revised the ISO 9001:2008 standard and gave ISO certified companies up to September 2018 to transition. Therefore, ISO 9001:2008 certificates are not valid anymore. If your company has an ISO 9001:2008 certificate and has not transitioned yet, this article is for you. What are the changes … Read more
Many companies are concerned about how this ongoing pandemic is affecting the continuity of their activities and threatening their very survival. Most business owners are concerned with how to keep their companies afloat and are updating their current procedures to accommodate events as unfortunate as the one we are experiencing. For companies that are already … Read more
Written by: Munther Al-Arayedh, MBA, CPA In 2018, we posted a series of articles discussing Bahrain’s Social Insurance dilemma. You can get up to speed by reading these articles: Bahrain’s Social Insurance – Part 1: How Did We Get into This Mess? Bahrain’s Social Insurance – Part 2: How Do We Get Out of … Read more
A strategic planning process is something with which we are all familiar, consciously or not. We use it to go from where we are, to where we want to go. It can be a physical destination, like another city, or a goal in life, like doing a master’s degree. We make plans, organize our time and lives, gather … Read more
We are going to explain what Google Classroom is and how it works. Google Classroom is a free tool to manage classes in the educational field. If you belong to a school, Google will ask you to use the professional G Suite account, but we will use the normal accounts so that you can see what can be … Read more
ISO 22301 Business Continuity is the coined term to refer to the strategies and planning by which organizations prepare to respond to catastrophic events such as fires, floods, cyber-attacks, accidents, human error or diseases. A Continuity Management System Certificate (BCMS) certified under ISO 22301 – the most internationally accepted standard – helps organizations prepare for emergencies, manage … Read more
Not too long ago, many organizations considered ISO and quality management systems as just another bureaucracy, a mandatory requirement to work with global clients, a marketing element, or merely a stamp that looked good on their documents. However, today, amidst this raging Coronavirus Pandemic, it is these same companies that are dusting off and reviewing … Read more
In times of crisis and unexpected events, we are required to maintain all our processes and procedures in an orderly manner to ensure the continuity of our business. In this series of posts, we will attempt to explain how ISO helps companies overcome the COVID-19 crisis. This series would not be complete without explaining more … Read more