The importance of trial balance cannot be over-emphasized in any business. This is so because, a businesses success depends on the ability to properly balance the checkbooks and eradicate all forms of accounting errors that could bring about poor financial habits, and this is where the trial balance comes in. The trial balance, which is …
It turns out, as a Banker or Accountant you’ll be liaising with/advising clients, investors, managers, etc on the best move for their businesses. Financial functions are involved in either role. What’s more, Accountant works in banks, plus the financial statement prepared by an Accountant is useful to a Banker for making a judgment on business …
Want to kill your business fast but don’t know how? Don’t keep records of financial transactions! It’s that simple and very effective. What will follow is a cascade of events including serious problems with the tax guys, poor planning and decision making (that you won’t even be aware of until it’s too late), low investors …
Businesses are different in so many ways, especially in terms of their activities. While some business organizations sell finished goods, others manufacture their own products e.g Nestle, Coca-Cola, etc. The business organizations that manufacture their own products are referred to as manufacturing businesses. These kinds of business enterprises buy raw materials, convert them into finished …
Public sector accounting is simply government accounting. So you have come to the right place for the most complete and accurate information about public sector accounting. And it doesn’t matter whether you’re interested in something as simple as the reason accounting is needed by the government, or want to get granular with details about the …
While the reasons for dishonoring a cheque will be communicated by your bank eventually–as the drawer (the person making the payment), wouldn’t you want to avoid the inconvenience a dishonored cheque will cause your customers and clients? That’s right, in today’s post, not only will I be revealing the top reasons why a cheque may …
Accounting and Accountancy. Have you ever been confused by these two terms? This update will show you the difference between accounting and accountancy and make it all crystal clear. Take, for example, one is often regarded as the parent and the other as the child. Do you however know the rationale behind this analogy? Can …
The history of accounting in Nigeria isn’t complete without a mention of ICAN, FRCN, and Akintola Williams. Which begs the question… What roles did Akintola or ICAN play in the development of accounting in Nigeria? Are there other people, bodies, or events that equally played a part–and to what extent–in shaping modern-day accounting in Nigeria? …
In today’s guide, not only will you be intimated on the salaries of accountants in Nigeria, but you’ll also know why some accountants earn lower, the accounting positions that pay the highest, and how to prepare/position yourself for higher pay. ExxonMobil > ₦800,000 – ₦1 Million Chevron > ₦600,000 – ₦800,000 NNPC > ₦190,000 – …
Public and private sector accounting offers great career prospects. Only, like most things, there are points for and against. In this update, I’ll explain public and private accounting, provide details on requirements in public and private accounting, while also making recommendations on which of the two I think should give the most job satisfaction based …
Difference Between Public And Private Sector Accounting Read More »
