The Impact of Internal Control through Computerized Accounting System among Small and Medium Enterprises in Oman

Purpose: The aims of the study were to identify and evaluate the internal controls used in a computerized accounting system of the SMEs, to identify and evaluate the merits and demerits of the internal controls used in the companies, and to identify the challenges in the implementation of internal control systems in the computerized accounting system of the SMEs. Design/methodology/approach: The population of the study was the employees of the SME’s registered with Ministry of Commerce and Industry (MOCI) in Muscat, Oman. Samples were selected from this population on a random sampling basis. One-member employee from the SMEs representing the enterprise filled the questionnaire. The survey was conducted through a questionnaire using a Google form. 220 samples were collected from the population.  The data collected was analyzed using data processing methods and Microsoft excel. Findings: The study found that SMEs were using computers to perform their daily transactions and the accounting software used by SMEs were cheap, of low quality and not proficient enough. One of the components of internal control system, i.e. monitoring was implemented by most of the SMEs and they also stated that they rarely hired an external auditor for auditing because of the expensive auditing fees. It was also stated that the security mechanisms were not properly implemented in the SMEs because of the expensive cost. Research limitations/implications: The study suggested that the Government should emphasize the SMEs to implement a good internal control system. This can reduce the errors and also increase the efficiency of operations. SOX in Omani context should be strictly implemented making it statutory and mandatory for all the SMEs in Oman and such statutory laws will help the auditors to abide by the rules and regulations to be followed. Social Implications : Government should support SMEs through providing education on the importance of internal control systems as most of the employees of SMEs are poorly educated/illiterates. The Government should set a price ceiling to the external auditors on the auditing fees exclusively for SMEs so that they can afford. Originality / Value: No study was carried before in relates to the impact of the internal control system through the computerized accounting system among the SMEs in Muscat, Oman. This study will through light on the statutory laws required for the sake of internal control measures required for the SMEs

ENSURING STUDENT-CENTERED, CONSTRUCTIVIST AND PROJECT-BASED EXPERIENTIAL LEARNING APPLYING THE EXPLORATION, RESEARCH, INTERACTION AND CREATION (ERIC) LEARNING MODEL

Experiential learning literally is making meaning from direct experience. It plays vital role in facilitating the process of creating knowledge, sense-making and knowledge transfer in teaching, training and development. This study assessed the effectiveness of Exploration, Research, Interaction and Creation (ERIC) Learning Model which is a framework adopted from various theories and philosophies such those of student-centered, constructivist-based, project-based, experiential, multisensory, reflective, participatory, interactive, cooperative, collaborative and active learning. Mixed method was used employing pre-experimental design and narrative analysis of learning experiences. Pre-test and posttest, survey, interview, observation and focus group discussions were made. There were 32 college students in the Tourism Management Program enrolled in NAS 106 (Environmental Science) and 28 enrolled in BST 323 (Ecotourism) for Academic Year 2018 - 2019 at Columban College, Inc. and were used as subjects. Quantitative data were treated using Mean, Weighted Mean and t-Test for Dependent Samples. Student’s engagement and involvement were maximized by exploration, research, interaction and creation and they adapted the skills and strategies for them to become responsible learners and lifelong learners. There was a significant increase in the performance of students as well as develops more positive attitude towards the topics

The Impact of COVID-19 on the Financial Performance of Bank Dhofar

Purpose: The aims of this research was to identify how COVID-19 had affected the financial performance of Bank Dhofar, to analyze the financial performance indicators, to evaluate how did Bank Dhofar react to the changes and to evaluate whether Bank Dhofar had taken right action take to mitigate potential financial performance damages. Design/methodology/approach: This research follows a descriptive analytics research method. The primary data was collected using a questionnaire. Samples were selected based on random sampling technique. 30 samples were collected from those who were related to and involved in the audit and accounting of the financial information services of Bank Dhofar. Once the data was collected, the analysis was done using Microsoft Excel. Findings: Based on the financial reports, COVID-19 has negatively impacted the profit generated of Bank Dhofar and also negatively impacted the Net Interest Margin (NIM). Bank Dhofar had also taken necessary precautionary measures against COVID-19 such as reserves and provisions. Research limitations/implications: Based on the results, it was recommended that the Bank focuses on the digitized platform for an even more efficient mean of working remotely and focus on employee morale, as these factors may negatively impact financial performance. Social Implications : This research would add collective knowledge on how COVID-19 affected the nation and could influence decision makers, rules and regulations. Originality / Value: No research was found regarding the financial performance of a bank in Oman during COVID-19. This research was an attempt to tackle the situation and thrown light

The Impact of Online Work on the Operating Costs of Petroleum Development Oman (PDO)

Purpose: The objectives of the study were to evaluate how PDO is adapting to the online work approach, to analyze and identify the operating costs of the company that got affected by switching to an online work approach, to evaluate the impacts of the online work approach on operating costs and to evaluate the effects of online work on financial performance and changes in operating costs. Design/methodology/approach: The population of the study was the employees of PDO – the managers and the employees of the accounting and finance department especially those who were involved with the financial issues and were responsible for the company’s cost and revenue calculations. The study included 54 samples from the population.  The survey was conducted through a questionnaire using a Google Form and the samples were selected on a random sampling technique. Interview was also conducted. The data collected were analyzed using different data processing methods of data analysis. Findings: The study revealed that PDO successfully adapted to the transition from traditional working to online working and the technology played a key role in doing so. Employees felt benefitted from online working as they were able to manage work-life balance. It was also observed that working online with efficiency reduced the operating costs and increased productivity. It was confirmed the claim that the work-from-home online working benefitted the company significantly in reducing the operating costs. Research limitations/implications: It was suggested that the employees should be well equipped with modern technological equipment and advanced applications to support the online working conditions. The option should be given to employees to work from home should be made as a part of the work routine work even after the pandemic to maintain the work-life balance. Social Implications : The study suggested that the management including the project owners and managers must focus and work more on developing a work style that suits the requirements of different work teams in online working. Originality / Value: This is the first time a study of this kind was carried out to find out the impacts of pandemic on the operating costs and the financial performance of a company. This is a maiden attempt

An Exploratory Study of the Supply Chain Logistics (SCL) Optimization of SME Cargo Companies

Purpose: The aim of the study was to analyze the challenges faced by SME companies and analyze the opportunities and challenges in the supply chain logistics sector and analyze the best practices and techniques for the optimization of supply chain and logistics. Design/methodology/approach: Exploratory research was carried out using the secondary data collected from the Supply Chain Logistics companies and the analysis of the study was carried out using prior academic literature. Findings: From the study, it was found that the major challenges faced by SMEs in Oman were the lack of finance, lack of marketing knowledge, operational limitations, and lack of entrepreneurial culture and managerial skills. The opportunities in the supply chain sector included the Location, Infrastructure, Economic Opportunities, and Economic Diversification of Oman along with challenges like Human Resource Competency, Competition, Connection, Technology, and Transactions. Research limitations/implications: Based on the results, it was recommended that SMEs should focus on improving their Human Resource Competency, and gain a competitive advantage through optimization of supply chain and logistics activities using technology and implementing optimization strategies. Social Implications: The findings from this study have provided an academic and empirical contribution to the cargo and logistics companies and the SME community in Oman. Furthermore, provides contextual and managerial contributions to the literature on the optimization of supply chain logistics in SMEs.  Originality / Value: No prior studies were found addressing optimization challenges and opportunities faced by SME cargo and logistics companies. Through this theoretical study, the researcher attempted to shed light on and tackle this situation

Examining the Effect of Budgetary Controls on the Financial Performance of Oman Telecommunication Company

Objectives The objectives of the study were to analyze the different budgetary control techniques that affect and how it affects the financial performances; to determine the ways of effective budgetary control affecting the financial performances and to identify and to evaluate the roles of top management in budgetary control techniques of the Oman Telecommunications Company. Research Methodology A questionnaire was prepared for collecting the survey.  The respondents were the employees of the financial department and also officials and supervisors from other departments of the Oman Telecommunications Company. The questionnaires were distributed to 60 members and the data collected was analyzed using Microsoft Excel to obtain the frequencies, percentages, and descriptive analysis. Findings The results indicated that there is a positive relationship between budgetary control and the financial performance of the company. The results also indicated that the company preferred the Responsibility accounting technique, Revenue budgeting technique, and variance analysis technique. It is also reported that the management is informed of the deviations regularly, and the managers take corrective measures promptly as and when required. It was found that the top management of the Oman Telecommunications Company is aware of the importance of budgetary control techniques and supports them. Research Implication From the results, it was recommended that the company should give prior attention to developing budgetary control through proper planning, ensure continuous evaluation of comparative analysis of actuals vs. budget. It was also suggested that the company introduce enterprise resource planning (ERP) as the monitoring will become easy for the financial management in ensuring the productivity of the employees in the budgetary control process. Social Implication The study will allow financial managers in various companies to understand the serious nature of budgetary control techniques, their importance, and the extent of the impact which in turn will help them to improve efficiency in achieving financial performances. Novelty No study was carried out before to study the impact of budgetary control on the organizational performance of Oman Telecommunication Company. This is a maiden attempt

CUSTOMER-CENTRIC INNOVATION: CASE OF OMAN ENTREPRENEURSHIP

Purpose: The objective of the study is to explore the concept of customer-centricity in Oman and to analyze the challenges of implementing customer-centric innovations, and the strategies in building momentum for the customer-centricity.  Design/methodology/approach: For carrying out the research study, the concept of customer-centric innovation and the current practices by selected top companies of Oman were considered. Findings: The finding of the empirical study reveals that the organizations in Oman are finding the way to transition from its existing customer-centric approach to a more innovative and technology aligned strategy, keeping the core strategies in place that are focused on operational issues. Practical Implications: Only a few notable organizations in the country are very open about their initiative to improve customer interaction. It is apparent that organizations in the country are still yet to realize the importance of building core strategies that put customers in the middle. Companies in Oman can drive growth by means of business process improvement that will attract more customers and building stronger business-customer relationships. Social Implications: There are several ways in which innovation can be integrated into customer-centricity. The technologies available today provide the best tools for improving customer interaction. Originality/value: No study has investigated before the customer-centric innovation in Oman, and this study will help the organizations especially Small and Medium Enterprises (SMEs) to plan their strategies accordingly

TECHNOLOGICAL PLATFORMS FOR SOCIAL ENTREPRENEURSHIP AND COMMUNITY ENGAGEMENT

Purpose: The objective of the study is to critically examine the concept of Smart data and its influence in creating Social entrepreneurship involving community engagement. Design/Methodology/Approach: The study involves an in-depth exploratory approach in finding out the technological platform for social entrepreneurship in social engagement. Findings: Finding the best solution to a problem varies in terms of approach.  The term Social Entrepreneurship - sounds vague for some, and the possibilities of its application are virtually limitless, which encompasses a need for boundaries to demarcate its true purpose. Practical Implications: In today’s modern world, attempting to draw out the context of business techniques with the aid of information technology to solve social problems is being regarded as an emerging approach referred to as social entrepreneurship. Social Implications: The study confirms the idea of social entrepreneurship is being attributed to its underlying function of fostering community engagement in an attempt to draw out solutions to long-standing social problems. Originality/Value: The vague understanding of social entrepreneurship requires a more in-depth exploration in which this article intends to achieve.&nbsp

THE IMPACT OF GLOBAL CHANCES ON TEACHER EDUCATION: CHALLENGES AND OPPORTUNITIES AND A VlSION POR A CULTURE OF PEACE

Sin resume

The Social and Environmental Impact of Hybrid Cars

Purpose of the study: The objective of this research was aiming at understanding the effect of hybrid cars on the environment. The research was also aimed at proposing a government policy that must be implemented to regulate the usage of hybrid vehicles. Design/Methodology: An analysis of the hybrid cars was carried out along with evaluating the advantages and disadvantages of said vehicles from the perspective of customers, support and maintenance. The study was based on a product substitute, introduced to replace vehicles that run on gasoline, with a hybrid of electric and gasoline vehicles. Findings: The result after testing the vehicles and its components is that Hybrid Electric Vehicles (HEV) does is indeed less harmful to the environment due to it consuming less gasoline. With increasing production of hybrid variants, batteries are being planned and designed in way that extends its life as well as provides the ability of recycling. This turns to be safer, healthier, and also a money saver package, saving a fine amount spent on fuel. Research Implications: The researchers hope to achieve a clear understanding of the influence of hybrid cars on the environment and individuals, the way hybrid cars operate, its advantages and disadvantages and the proposed government policy that will regulate the impact of hybrid cars on the environment. Originality: The study is of its first kind and no one has carried out such study ever before in Oman Purpose of study