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extremelygolden: Breaking News

GEJ sacks 9 Ministers.
Those affected are:

1. Minister for National Planning
2. Minister of State for Defenece
3. Minister of Education
4. Minister of State for Power
5. Minister of Foriegn affairs
6. Minister of State for Agriculture
7. For Housing & Urban Development
8. Minister of Science & Techno
9. Minister of Environment

abacus Cm: Your lecturers said the Economists will help the bank to minimise loss and mazimise profit.please help me to ask him the roles of management Accountants and cost Accountant.

DEGREE2466: There is this controversy between we the economics students and our counterparts in accounting department due to a statement made by our economics lecturer when he said that banking sector is backsliding due to wrong hands at deck andd when we ask him why he said so he gave us the following reasons:

He said that banks are more of a profit making organisation than ordinary cash receiving and keeping organisation and therefore need works that is beyond that of an accountant which is recording transactions and balancing of accounts.

He further said that banks being a profit making organisation need the work of economists who will not only record transactions and balance accounts but will profer solution on how to minize cost/expenses, maximise profit and manage risk.

And that includes suggesting when to invest, how to invest and where to invest because of what is called short-run, long-run and very long-run in the economy.

Banks need accountants more than economists. For all I care, everything stated up there as an economist's job still fall under the purview of an accountant. Accounting goes beyond recording and balancing, it also involves data analysis, projections, interpretation, profering solutions, advisory services,financial management, risk management, forensic and assurance works,among many others.

What your lecturer said was just BOOK KEEPING which is baby of accounting. But economists too can work in a bank.

I want to know your view about this, should banks hire more of economists than accountants?

P.Stacks:
Look! This is nigeria... There are so many suare pegs in round holes in this Nigeria..

Work no dey! Unemployment is high so you have Pharmacist and engineers as bankers today.. The arguement of Economist and accountants can't even hold cos there are more of a related course as both are social sciences but what do you make of it when an engineer or Medical doctor works as a banker cos jobs are scarce..

I believe in the over-riding interest of the economy at large, Economist can take up policy and planning roles and programmes implementation and formulation for Banks while the accountants keep the books healthy.

Its ok to have economist in the bank provided their roles are clearly defined.

abacus Cm: Your lecturers said the Economists will help the bank to minimise loss and mazimise profit.please help me to ask him the roles of management Accountants and cost Accountant.

DEGREE2466: There is this controversy between we the economics students and our counterparts in accounting department due to a statement made by our economics lecturer when he said that banking sector is backsliding due to wrong hands at deck andd when we ask him why he said so he gave us the following reasons:

He said that banks are more of a profit making organisation than ordinary cash receiving and keeping organisation and therefore need works that is beyond that of an accountant which is recording transactions and balancing of accounts.

He further said that banks being a profit making organisation need the work of economists who will not only record transactions and balance accounts but will profer solution on how to minize cost/expenses, maximise profit and manage risk.

And that includes suggesting when to invest, how to invest and where to invest because of what is called short-run, long-run and very long-run in the economy.

I want to know your view about this, should banks hire more of economists than accountants?

yinka2011: Anyway the bank I am most impressed with at the moment is [size=18pt]UNITY BANK - YES UNITY BANK.
[/size]




I walked in, opened account. No long lines, good service and much faster than what i was getting at my old over crowded bank that felt like a jungle cage.



and the staff so professional and attentive. This bank is coming up.

nicky_vick: ur Result Grade matters, Most banks hire Ppl wit 2:1 or 1st class now. then ur Aptitude test score and Interview. Also study hard to com out wit a gud grade (2:1 or1st class) most firms requires a gud grade now b4 dey can invite u for an interview. ur discipline doesn't realy count again. because dey will train you once u r employed.

manny4life: Each play a different role in the bank

He further said that banks being a profit making organisation need the work of economists who will not only record transactions and balance accounts but will profer solution on how to minize cost/expenses, maximise profit and manage risk.

This is not the job of an economist but of an accountant with the exception of "risk management".

Put it this way

Accountants - whether staff, cost , financial , tax or whatever accountant, they have one thing in common --- managing money for their enterprise.

Economist - Labor, Financial, Regional, etc...Whichever, they simply forecast for their enterprise.

Like I said, they need both, but it depends on what type of banking.

DEGREE2466: There is this controversy between we the economics students and our counterparts in accounting department due to a statement made by our economics lecturer when he said that banking sector is backsliding due to wrong hands at deck andd when we ask him why he said so he gave us the following reasons:

He said that banks are more of a profit making organisation than ordinary cash receiving and keeping organisation and therefore need works that is beyond that of an accountant which is recording transactions and balancing of accounts.

He further said that banks being a profit making organisation need the work of economists who will not only record transactions and balance accounts but will profer solution on how to minize cost/expenses, maximise profit and manage risk.

And that includes suggesting when to invest, how to invest and where to invest because of what is called short-run, long-run and very long-run in the economy.

I want to know your view about this, should banks hire more of economists than accountants?

yinka2011: Anyway the bank I am most impressed with at the moment is [size=18pt]UNITY BANK - YES UNITY BANK.
[/size]




I walked in, opened account. No long lines, good service and much faster than what i was getting at my old over crowded bank that felt like a jungle cage.



and the staff so professional and attentive. This bank is coming up.