Hi all, I hope you are all doing well. Just a day more to go before the weekend. Whoop Whoop. So excited again because my sister’s introduction would be happening during the weekend. Awwn, these little kids of nowadays grow up so fast. Yeah, that aside, let’s move on to the business of today, we would be taking a look at the two special purpose FX windows created by the CBN in recent time.
[Read more…] about Notable FX Windows by the CBN
Hello people, i hope your day is making sense. Today we would be taking at components of a credit analysis. I hope you learn a thing or two from this post. So if you don’t already know, Credit analysis is the method a bank or financial institution uses to calculate the credit worthiness of a loan applicant, business or organization. There are 5 Components of credit analysis, also called 5 C’s, and they are:
[Read more…] about Credit Risk Analysis
Hi beautiful people, I hope you are doing well. The month of April marked a year of using paid hosting for my blog. I started out with the Amazon EC2 trial hosting but due to the complexities and my inability to curtail spam visitors trying to hack into my site, I opted for a word press managed hosting package. I couldn’t afford the big boy hosting packages that were fully managed and required in excess of US$200 per year, this was because I had just finished school and I was being paid peanuts while doing the voluntary National youth service corps (NYSC). Also, foreign exchange was hard to source in Nigeria, and our currency was very weak when compared to the US dollars.
[Read more…] about Why I left Site Ground hosting for Bluehost
Hey guys, how are you doing? Remember the last time we talked about Consumer Lending. Today, we would be taking a look at loan life cycle. Loan life cycle is the process involved in taking a loan e.g. a mortgage loan, auto loan etc. The first stage in the loan life cycle is the application stage. A loan life cycle officially begins when an individual or business submits his loan application to the bank or financial institution for approval. For example if you want to get a mortgage loan, it is most likely you have identified the home for purchase, and researched the chosen mortgage lending institution to provide the loan. All these aside, the Loan life cycle actually starts when you submit the loan application to the chosen lending institution.
[Read more…] about Loan Life Cycle
Consumer lending is the granting of loans by banks or other financial institutions to individuals and household consumers. It is granted basically for personal use and are usually categorized as unsecured loans. Consumer loans are granted based on the credit worthiness of the individual and there is no collateral attached to the loan, i.e. it is an unsecured loan. Consumer lending could be channeled to the purchase of a specific item or asset by individuals, this includes the purchase of a home (mortgage / home loan), purchase of a car for personal use (auto loans), purchase of a high end mobile phone on credit, and other of such facilities available to individual consumers.
[Read more…] about Consumer Lending
An auditor must not be seen to be negligible, he must be thorough in his work and if the auditor’s suspicions are aroused, he has to probe the matter to the bottom. He can do this by carrying out detailed tests to his personal satisfaction to either confirm or dismiss the suspicion.
[Read more…] about Auditor Negligence
Hello people, i hope your day is going great. I recently stumbled on this interesting case study by the harvard business school on Rob Parson. A high level summary and my personal recommendation would follow shortly. If you want to read the full case study, you can purchase it for about US$9 on HBR’s Website.
[Read more…] about Rob Parson Case Study Review
Hi guys , today we would be taking a look at the going concern concept in accounting and symptoms of impending going concern problems and how they can be mitigated. Now, let’s begin with the concept idea of going concern. According to the international standards on Auditing No 570, going concern is fundamental in the accounting profession. The going concern concept assumes that the client’s business will be in operational existence for the foreseeable future with neither the intention nor the necessity of liquidation ceasing trading or seeking protection from creditors in compliance with laws or regulations.
[Read more…] about Going Concern
Right from my undergraduate days, I had always been curious about financial models and how to prepare them. My mindset was that it was tough and only a genius could do it. It wasn’t until I was actually thrown into the mix that I realized it was pretty easy. At my former place of work, United Capital Plc, the project finance team was tasked with building complex models for presentation to both the client and potential lenders to aid negotiations and structuring of the deals. In my current role also as a strategy analyst in one of the big four telecommunication companies in Nigeria, Etisalat, I am in charge of building and updating a model for the purpose of improving the company’s EBITDA.
[Read more…] about Types of Financial Models
Hi guys, it has been long I posted here, been so busy. Today I would be taking a look at the big 4 accounting firms. As accounting students, we quickly subscribed to the idea of finishing school and working for one of the big four’s. That was the ultimate dream and every one was fighting for the chance of being picked by any one of them. The big four’s as you all know are Deloitte Touche Tohmatsu Limited, PriceWaterhouse Coopers (PwC), Ernst & Young and Klynveld Peat Marwick Goerdeler (KPMG). Working in one of the above stated companies was highly coveted by all accounting students because apart from building your CV, it meant you stood tall with the elites in the accounting profession. It is similar to consulting where we have three major consulting companies namely Mckinsey & Co, Boston Consulting Group (BCG) and Bain & Co.
[Read more…] about Big Four Accounting Firms
