Business Studies Department News

Monday, 28 November 2022 08:13

COST-VOLUME PROFIT ANALYSIS WITH EXCEL

The Workshop “Cost-Volume Profit (CVP) Analysis with Excel” was conducted on 23 rd
November 2022 at the BSIT 22L from 10.45am to 11.45am for Bachelor of Accounting Students
by Mr. Pavan Kumar.
The workshop on CVP analysis was a brainstorming, interactive learning, and problem-solving
session. Cost-Volume Profit (CVP) analysis is a way to find out how changes in variable and
fixed costs affects a firm’s profit.
As a part of Association of Chartered Certified Accountants (ACCA) requirement each and
every accounting specialization student must obtain a computer proficiency skill in the use of
spreadsheets in CVP analysis that affect a company’s operating income. The students had an
overwhelming experience and enjoyed the session.

Monday, 14 November 2022 08:05

UTAS-CEBA DEAN VISITED SALALAH BRANCH

The Dean of the College of Economics and Business Administration of UTAS - Dr. Bassam Tabash visited UTAS-Salalah last November 10,2022 to meet the business specialization students and staff. Dr. Bassam met with a group of selected students from the three specializations, Accounting, HR and Marketing, from Diploma, Advanced Diploma and Bachelors, including Business Club officers and representative from the Student Advisory Council. The meeting with the students included a discussion of the college’s new academic program and future plans. The meeting also identified important challenges faced by students and proposals on how to overcome those challenges.

After the student meeting, Dr. Bassam met with the staff to discuss the department action plan for the academic year 2022-2023. A discussion was also made regarding the new academic programs and new business specialization offerings in the next academic year. Moreover, the Dean emphasized on the need for lecturers to be involved in research being an integral part of the teaching and learning process. The HOD of UTAS-Salalah –Economics and Business Administration, Dr. Ghanim Shamas attended the staff meeting together with the UTAS-Salalah Assistant Dean-Academics- Dr. Majdi Mohammed Said Ali Sulaiman.

The Research and Consultancy Team of the Business Studies Department (BSD) of
the UTAS – Salalah conducted a session on Research and Consultancy Policy Awareness
Program on the 3 rd of November 2022 for the faculty members of BSD.
The chairperson of the Team, Dr. Ajay Kumar Sharma discussed the updated vision
and mission of the university and requested the faculty members to conduct research in their
area of expertise. He also stressed on the joint publication between the students and faculty
members. He assured the department to help with all the required support from the Research
and Consultancy Team. Dr. Ajay promised to conduct more research related webinar,
workshops and seminar for the benefits of the staff members.
Dr. Navaneetha Krishnan discussed the funding opportunities for the staff and
elaborated about the detailed procedure of applying for funding. At the end of session, the
Chairman thanked all the participants.

The Business Studies Department (BSD), with the support of College Industrial and Community Engagement Committee (ICEC) and On-the-Job (OJT) Committee in Business Studies Department, organized an industrial visit for its staff members to Salalah Free Zone (SFZ) Co. on Tuesday 25th October 2022. There are nine staff members that participated with various specializations.

On arrival, Ms. Abeer Mandhari, Marketing and Communications Manager along with other staff members from SFZ Co. welcomed the visiting staff members. The visiting group were taken to the presentation hall of the company, where the staff members were briefed about the company operations in different fields.

The first presentation was by Engr. Mohammed the Quality, Health, Safety, Security, and Environment Director (QHSSE), who discussed about the company’s procedures adopted by the company in maintaining the quality, health and other related areas. He also discussed the procedures of attaining the ISO certification, which is also a source of SFZ competitive advantage. At the end of his presentation, he clarified and discussed several of the queries raised by the faculty members. Second in line to give presentation was Ms. Abeer, who explained the overall operations and services provided by SFZ Co. and the third presentation was by Mr. Salim, Head-Training and HR. Presentation by Mr. Salim showcased the training processes of SFZ Co. and also exhibited the number of students/trainees they have accepted over the last few years under their CSR scheme. During this presentation, Mr. Salim discussed the gaps in theoretical teaching at the University and practical training the trainees getting at the company during their OJT. The presentation includes information on marketing, accounting, and human resources that is useful for students who want to pursue their OJT at SFZ.

In the second lag of this trip, the staff members were taken to the various departments like One Stop Shop which provide multiple services to the investors under one roof, QHSSE department, IT department and HR, etc. During the visit, the department faculty members were not only able to interact with many of the staff of SFZ Co. but also discussed in detail the various functions and procedures of the company. In addition, as part of the tour SFZ exhibit several industrial products and consumer products of their existing clients. For instance, pharmaceutical products, plastic products, lime stones, Oman milk products and car spare parts, etc.

At the end, Ms. Abeer took the visiting group for a tour of their state-of-the-art building, which in houses multiple offices equipped with modern facilities. Dr. Amit, Coordinator-OJT, on behalf of the visiting group thanked the SFZ Co. Management and concerned departments for hosting the Business Studies Department faculty members and for discussing the common interest areas of UTAS, Salalah and SFZ Co.

The Research and Consultancy Committee of the Business Studies Department recently organized a workshop on Review of Literature and Research Methodology for Senior/Graduation Project Students on October 18, 2022, at 12.00 noon. The members of the Research and Consultancy Committee, Dr. Shelly Mohanty and Dr. Blessy Mathew, were the speakers of the session. They have provided the basic information about the selection of various research methods, techniques, and tools in view of the above topic to facilitate the students’ project. The first session of the workshop was focused on the review of literature. During the session, the students were provided with basic information about searching for and reviewing literature using different sources/databases related to their area of study. The session also provided necessary insights into structuring the content.

The second session of the workshop was to help the students gain an understanding of the basics of research methodology, focusing on theoretical and practical aspects. The session was designed to help participants define research problems, develop approaches to research problems, choose appropriate research designs, data collection methods, and statistical tools for data analysis.

The workshop was well attended by all project students, including their supervisors and also the members of the Research and Consultancy Committee. Additional sessions and workshops will be held in the coming weeks to help the students prepare and complete their project in a scholarly manner.

Monday, 17 October 2022 10:45

Guest Lecture on “Updates in IFRS”

The Business Studies Department organized a guest lecture on the topic “Updates on the International Financial Reporting Standards (IFRS)” on October 13, 2022 at 10:00 AM in BSIT- 15C. The resource person on this occasion was Mr. Gibo Chacko (FCA), Associate Partner (Salalah) – Audit and Assurance, CROWE- Oman. CROWE Oman is one of the top ten Auditing and Accounting firms in the country. Dr. Ghanim Shamas, Head of the Department of Business Studies Department welcomed the guest and encouraged the students to participate as much as possible in such activities to learn from the experience of industry experts.

The lecture focused on the latest accounting standards affecting the presentation and valuation of specific accounts in the financial statements. An actual financial report from a listed company in Muscat Stock Exchange was used to complement the discussion so the students can better understand the implications and effects of the IFRS to the financial reports. The lecture was well received by the students and they expressed their willingness to have more such lectures and training sessions in future as well.

At the end of the lecture, Dr. Amit Sharma, Coordinator of the OJT and Mr. Neil Raymond Saletrero, Head of Section - Accounting thanked Mr. Gibu for sparing his valuable time to deliver the lecture for the students. Dr. Ghanim Shamas felicitated the speaker with a memento and appreciation certificate as a token of appreciation.

The guest lecture was made possible through the efforts of the OJT Committee in collaboration with the Student Development Committee and Business Club.

Thursday, 13 October 2022 14:18

Webinar on “Updates in VAT”

The Business Studies Department organized a webinar on the topic “Updates in Value Added Tax (VAT)” on October 5, 2022, 12 noon. The resource person is Mr. Taysir Nasib Al Rawahi –Director of Tax Advisory Services of Crowe-Oman, one of the top ten Auditing and Accounting firms in the country. The lecture focused on the Oman VAT Law and executive regulation, implementation rules and guidelines. Mr. Taysir also discussed the impact of VAT to business and consequences of non-compliance.

The participants are Advanced Diploma Business students. The webinar was made possible through the efforts of the OJT Committee in collaboration with the Student Development Committee and Business Club.

The Research and Consultancy Committee of the Business Studies Department has organized a session on “Project Awareness for Staff Supervisors and Students on Graduation/Senior Project Guidelines”.The session was held on September 27, 2022, at 12:00 noon. The Resource Speaker of the session was Dr. Navaneetha Krishnan, Lecturer, Business Studies Department, UTAS-Salalah. The session was part of the Research and Consultancy Committees’ series of workshops for graduation / senior project students of the Business Studies Department to help them understand the procedures and assessment criteria to be followed in their projects. Moreover, it will provide them the relevant tools and knowledge to complete their project requirements

Dr. Navaneetha Krishnan highlighted in the session the general guidelines in preparing the graduation/senior project including the responsibilities of the students and the supervisors. He presented and explained to the students the basic rules and procedures on how to effectively prepare the project and its contents including the timetable for submission and completion. The session was well attended by all Project students including their supervisors and the members of the Research and Consultancy Committee

On September 22, 2022, members of the Business Studies Department attended a session hosted by the Human Resource Department (HRD) Committee on “Role of Higher Educational Institutions in Sustainable Development”.

Dr. Ramanadh Kasturi, a senior academic member in the Business Studies department, was the resource person. He emphasized the importance of the role of higher educational institutions, which include all post-secondary institutes of academic and professional training for individuals, in achieving sustainable development. According to the resource person, sustained development is "development that meets the needs of the present without jeopardizing future generations' ability to meet their own needs." In addition, Dr. Ramanadh magnified the vision of Education for Sustainable Development (ESD), which is the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) education sector response to the urgent and dramatic challenges faced by planet earth. During the session, the vision of ESD, such as advancing policy, learning environment, educators, youth, and community, was heavily emphasized.

The focus during the session was also on "innovation and research." Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. The session inevitably led to motivating the faculty to engage in research and scholarly work. The resource person focused on how a faculty member who engages in research and scholarly work can better engage his/her students for their future development. Further, the resource person emphasized that research and innovation by Higher Education Institutions (HEI) help societies to identify and explore the possibilities for optimum utilization of natural and human resources. Its benefits include identifying the needs and markets for goods and services; promotion; penetration; and market expansion.

The interesting aspect of the session was during the discussion on Oman's performance indicators. The priorities of Vision 2040 were discussed comprehensively along with the targets to be achieved by HEI’s in Oman.

Bottlenecks associated with achieving sustainable development in the form of lack of education and awareness, social and gender inequalities, acceptance of diversity, misled youth and low participation in social and civic decisions were also discussed. The focus was also on the contribution of HEI’s to the environment. The resource person emphasized that many HEI’s are involved in active research to identify, analyze, and provide solutions to environmental challenges. He opined that many universities have developed and modified their curricula in response to the environmental challenges, providing possible solutions and making necessary recommendations for policymakers. The presentation turned livelier with the active participation of the attendees, each expressing their valuable opinions on the role of higher educational institutions in sustainable development.

The Business Studies Department's Research and Consultancy Committee hosted a seminar on "Self Energy Management" on June 14, 2022, 12 noon at BSIT 16C. The resource speaker of the event was Dr. Blessy Mathew, BSD lecturer, and was introduced by Dr. Navaneetha Krishnan, R & C Department chairman. Dr.Blessy emphasized on the importance of managing energy levels rather than managing time as an important factor in completing tasks cheerfully and successfully. The seminar was well attended by staff members from across academic departments. A lively interaction also took place during the open forum. The seminar is part of the continuing efforts of the departments’ R&C Committee to provide relevant skills and knowledge to the staff related to their research capabilities and academic challenges.

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