EKSU Vice-Chancellor, Professor Patrick Oladipo Aina Emerges Best Vice-Chancellor in South West Nigeria

“The good works of a man speak for him everywhere he goes and like a golden fish, a good leader has no hiding place as history will preserve his place and achievements for generations unborn to emulate”.

These above were the words of the Chairman, NANS Zone D while presenting the award of the Best Vice-Chancellor in Southwest Nigeria to the Vice-Chancellor of Ekiti State University, Prof. Patrick Oladipo Aina at a ceremony held at the Federal Polytechnic, Ado-Ekiti.

Buhari appoints new Accountant General of the Federation

June 25, 2015 Premium Times

President Muhammadu Buhari has approved the appointment of Ahmed Idris as the new Accountant General of the Federation (AGF), a statement said. The statement on Thursday, signed by Haruna Imrana, the Director Communications, Office of the Head of Civil Service of the Federation, said the appointment took effect immediately.

Nigeria’s N630bn annual food import bill worries Emefiele

By BusinessNews Staff on September 19, 2015

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin  Emefiele, has reiterated his concern over the country’s position as a net importer of agricultural produce with import above N630 billion.
The country imports food products such as wheat, rice, flour, fish, tomato paste, textile and sugar in large quantities

Nigerian banks, the most regulated in the world – CBN

By BusinessNews Staff on September 19, 2015

The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of economic policy, Mrs. Sarah Alade, has said banks operating in Nigeria are one of the most regulated in the world and expressed optimism that the era of bank failure was gone.
Alade declared this at the second

Ease of doing business: World Bank ranks Nigeria 170th

By BusinessNews Staff 

The reforms effort of the immediate past administration of President Goodluck Jonathan may have yielded some dividend as Nigeria moved up five places in the latest ranking by the World Bank Group on the ease of doing business.
The World Bank ranked Nigeria 170th among 189 countries survey, this shows an improvement of 2.9 per cent on the 175 position it occupied last year.
Also, Nigeria was ranked 129 on the ease of starting a business (138 last year), on dealing with construction permits it was ranked 171 as

Accounting Poem (by conel punk)

NO ACCOUNTING FOR TASTE

No accounting for taste.
What you dislike
and called a waste
is what I like.

You call cheese,honey

Accounting Poem (by Larry Potter)

Accounting 143

In my heart you are an asset
But in my mind, a liability
You are an entry I can't forget
That's slowly shaking my equity.

Loving you is an understatement

Fundamental Accounting Concepts

In preparing general-purpose financial statements,

several guidelines that are understood by both the

accountants who prepare them and the users of such

reports should be followed.

These guidelines are called generally accepted accounting principles or GAAP.

Generally accepted accounting principles are actually based on fundamental accounting principles and concepts.
This chapter covers the core concepts in accounting that you need to know before moving on to the more intricate topics.

Lesson 1

Basic Accounting Principles

The Conceptual Framework of Accounting mentions the underlying assumption of going concern. In addition, the concepts of accrual, accounting entity, monetary unit, and time period are also important in preparing and interpreting financial statements. Read more..

Lesson 2

Accounting Elements: Assets, Liabilities, and Capital

The three major elements of accounting are: assets, liabilities, and capital. These terms are used widely so it is necessary that we take a look at each element. We will also discuss income and expense which are actually included as part of capital. Read more..

Lesson 3

The Accounting Equation and How It Stays in Balance

The accounting equation is the unifying concept in accounting that shows the relationships between the accounting elements: assets, liabilities, and capital. In this lesson, you will learn about the basic accounting equation and how it stays in balance. Read more..

Lesson 4

Accounting Equation: More Examples

Here are some more sample transactions and their effect to the accounting equation. Read more..

Lesson 5

Expanded Accounting Equation

The expanded accounting equation is the same as the basic accounting equation except with the capital portion broken down into: owners' contributions, owner's withdrawals, income, and expenses. Read more..

Lesson 6

Double Entry Accounting System

The double entry accounting system emerged as a result of the industrial revolution. Merchants in the olden times recorded transactions in simple lists. Business became more and more complex, hence the development of more effective ways to keep track of business transactions. Read more..

Lesson 7

The Accounting Cycle: 9-Step Accounting Process

The accounting cycle, also commonly referred to as accounting process, is a series of procedures in gathering, processing, and communicating financial information. This lesson takes you through the steps in the accounting cycle. Read more..

Summary

Fundamental Accounting Concepts: Summary

This is a summary of the topics discussed in Fundamental Accounting Concepts under the Accounting 101: The Basics tutorial series.

Test Yourself

Fundamental Accounting Concepts: Quiz

Test your accounting skills with this short quiz in Fundamental Accounting Concepts, under the Accounting 101: The Basics.

Murder at dusk: Female teacher shot dead in Nsukka

By Chinenyeh Ozor; Nsukka

Tension mounts at the University town of Nsukka, Enugu state, following last week’s gruesome killing of a female classroom teacher at about 200 meters to her residence while returning from the state capital where she attended the swearing- in ceremony of newly appointed commissioners in the state.
Crime Guard gathered that the teacher identified as Princess Uzoamaka Onyishi, nee Ugwuokwor, 40 , hailed from Mbu -Akpoti in Isi- Uzo local government area of the state. She had accompanied one of her relations , Mrs. Eze, to attend the swearing-in ceremony of her husband, Mr M.E Eze, who was appointed Attorney -General and Commissioner for Justice in the state, only to be assailed by unknown gunmen, very close to her Uwani-Ugwu residence in Nsukka metropolis.

Princess Uzoamaka Onyishi,

Nigeria’ll implement accrual basis accounting standard —FG

By Funmi Olasupo
The Federal Government has said Nigeria will begin the implementation of Accrual Basis under the International Public Sector Accounting Standards, IPSAS, in January 2016.
The Accountant-General of the Federation, Ahmed Idris dropped the hint in Abuja at a book launch:

Nigerian Accountants Want Government To End Multiple Taxation

In a bid to promote investment and economic development, the Association of National Accountants of Nigeria has tasked the country’s tax authorities to abolish multiple taxation.

Speaking at his inauguration as the new president of the association, Sakirudeen Labode said that the multiple taxation in the country distracts and irritates businessmen and potential investors, adding that doing away with the practice, would bring more corporate organisations and individuals into the tax net.

Labode,

EKSU [Main campus] Post-UTME Result 2015 Released

This is to inform all candidate who participated in the post-UTME 2015 screening of the Ekiti State University that the result of the screening has been officially released.

Instruction to Check your Result

1.Click here to go to the application portal

2. Log-in with your existing login details on the Apply portal (i.e. the email address and password used to register for the Screening

The UNHOLY 3NITY

The UNHOLY TRINITY

On our Visit to the Central Bank of Nigeria, we were opportune to meet with the Head of the Communication Department Mr Uche who was also the Guest Speaker for the Visitation. In his Speech, He talked about something very very important though funny but arrest the mind of we the listeners. He said and i quote "one of the major duty of every central bank of the world is to control the three Economy prices" which he also refer to as the UNHOLY TRINITY. He went further to say that this prices can not be control all at the same time, this is when it all started getting interesting.