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Accounting

UAE Corporate Tax 2023: Implementation of the Federal Corporate Tax

The Corporate Tax Law will now come into effect from 1 June 2023, and its implementation is expected to support the UAE’s strategic objectives, accelerate its development and transformation, and enhance its competitive position as a business destination. The law incorporates principles that are widely accepted and understood globally, making it clear and predictable for […]
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Pivot Table

UNDERSTANDING THE PIVOT TABLE: A DEFINITIVE GUIDE

WHAT IS A PIVOT TABLE? A pivot table is a fundamental data analysis tool. Many essential business issues may be rapidly answered with pivot tables. One of the reasons we create Pivot Tables is to transfer data. Pivot Tables are one of the most powerful and helpful features. They will save you a lot of […]
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high-performance work systems

What Are High-Performance Work Systems(HPWS)?

HIGH-PERFORMANCE WORK SYSTEMS High-performance work systems (HPWS) are a set of HR practices, work structures, and procedures that improve employee skills, knowledge, dedication, engagement, and flexibility. An organization’s operating structures are the most significant notion in HPWS. HPWS is made up of numerous interconnected subsystems that work together to achieve the goals of any business, […]
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Process Costing System

UNDERSTANDING THE PROCESS COSTING SYSTEM

PROCESS COSTING Companies use process costing to calculate item costs by tracking the cost of each stage in the manufacturing process rather than tracking expenses for each individual item. They divide the overall cost by the number of products after adding up the costs of all the phases in the process. This is known as […]
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productivity software

What is Productivity Software and how it works?

With the massive upsurge in cutting-edge technologies and advancements in IT, the term ‘global village’ was never a better fit than it is today describing the world. Likewise, with the passage of time, economic markets have emerged becoming much denser whilst increasing the industry competition worldwide. Meanwhile, according to Go Remotely, employees are 2 hours […]
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Accounting software

Accounting Software | What, Why and How?

Did you know? 52 percent of the small business owners believe that they are overtaxed. Perhaps, they might be correct and it is a matter of time to have found to what extent this figure is correct. But unequivocally, this be or not be a fact is a mere consequence of not having in place […]
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An Introduction to Job Order Costing System | How it works?

Did you know? Accounting was first used in Mesopotamian civilization thousands of years back and this is the farthest humans have been able to trace. However, the introduction of the double-entry bookkeeping system a wholly new concept in accounting was later put forward by Luca Pacioli in 1494 who is said to be the father […]
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inventory management system

What is an Inventory Management System?

Inventory management as it goes is a complicated process that undergoes in product-oriented organizations, especially FMCG businesses and retail stores. Besides, Inventory Management is a complete process that begins with procuring the raw materials products to warehousing of these items, finally, this process concludes when the products either reach the customers or the retailers. But […]
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