₦airaland Forum

gobuchinny:
Quote me any where I said land and building are intangible assets

I know I said too many things for your brain to comprehend so u mixed things up..please go back and read ALL my mentions and quote anywhere I implied land and buildings are intangible ..if you find send me you akkant number I will send you 20k and you have my word..

you implied it . . . .never said you post it directly. English language, Mr School Owner.

HigherEd:
Idiot why didn't you make your father's school free for the poorest in society. What CSR has ur school done for Nigeria. You reap profit from the so called poor and probably offer substandard education therefore thinking everyone is like you... The oyedepo you talk about has offered free education to over 1000 people which person hv u schooled for free.

The heavy duty mumu could have googled davidoyedepofoundation for a start but hatred has darkened his brand new/unused brain.

chemgee:
You sha get their time.. all na scope, listen if your government fails, you:
1. blame devil. just like accidents are caused by blood sucking demons but not evil contractors/irresponsible government.
2. blame "16 years of PDP".
3. blame the Church leaders.. you know they ought to build factories, build airports, roads and employ the numerous graduates.
while the fools using tax payers money to enrich themselves and sponsor thugs/cultists are the real visionary leaders, Master strategist, this & that.
Let's assume a bullion van was seen at this bishop's house.... Nigerians no go rest, by now police, DSS, Media houses for no let am sleep.
Once again Na you get their time

Those guys have their kidney in their skulls. They assume govt and church have di.cks and rape ladies to produce poor children in the society. To them, people plan out their poverty consciously and even have insurance policy covering it.

Samunique:
Thanks @op, I was one the people who worked on PH school in Etche .

What a sweet memory !!!

Please sir what is the pay for teachers like and what was the fees when you worked there?

I am asking because some people are comparing these schools to imaginary bamboo schools in Magodo, Lagos.

1Sharon:
Do shrines tell you you're going to hell if you don't pay?

Does winners say or allow that? Prove it if you say yes.

1Sharon:
Don't even try it. Taking taxes from ppl and returning it to them in the form of free services is nothing like paying for the service completely.

Primary and secondary is free. University education in Scotland is free.

Tax is far more predictable and consistent than donations or offerings.

gobuchinny:
My brother infact d thing tire me..the guy is not bright at all...just to dull to comprehend simple issues..if we come dey talk the proper accounting jargons I wonder if he will think person dey speak local dialect

Amortization and depreciation kooo...immortality and segregation niii...

Mr accounting professional, is land and building part of intangible assets as you implied? back up your claims and stop running.

gobuchinny:
You are irredeemable..an educated illiterate who has refused to gain knowledge...expose me how??first you dare talk of amortization and depression with land and you expect to understand the business of real estate?

Your ignorance is bliss..please educate yourself and if you are in Lagos, Ogba to be precise, you can hit me up..i will take you on a tour of our school..built on sweat and real money not fraudulent monies from the commonwealth privatized to personal gains..its not a big school but very decent and caters to the needs of the community which we are paid for..now should the community thank me for providing a service im being paid for

The bolded is very funny...you are constantly exposing your ignorance and illetracy to any well informed reader on this thread by thinking of how to recover cost of construction or real estate from a long term investment

Clowns everywhere

Your ignorance is beyond bliss and is bling bling. You take a picture with it like a multi-platinum selling rapper.

Ekealterego:
Oga stop chatting about something you don't know shit about. And for your information, this my friend of profession.

So, for your information, those schools are publicly owned property, but even if the government choses to privatise them, if it had cost the govt, 30k Naira to acquire the plots in 1970, (although today the Land Use Act, 1978 would have been used to get the plots) a private company will acquire same for 30k in 2019?

Please make una dey apply small common sense.

friend of profession . . . You will exhaust all your Nairaland accounts today.
Is land and building intangible asset in accounting?

1Sharon:
Ppl who have a taxable income

So is it still free now that u admit they take from the people and give to them again?
Then if the govt covers free education for all, why do people still take huge loans in UK to fund college education and pay during their earning period after graduation? Iit shows very few people enjoy free education and fyi, winners gives scholarship to the poor but not all because it will affect their purse and the school standard

1Sharon:
Tithes noni


Is going to church free?

church is not like shrine.

gobuchinny:
Truelly faith academy is more affordable I beleive as i dont have much details on their fees..my issue is with CU as i am privy to the cost and the population spread of the students...you find alotta muslims, children of politicians, the rich and also their members but that school was not built with the members in mind.

You again!

Donkunxex:
A lot of people really need to read the book "rich dad poor dad" y'all need to understand income flow , expenses, assets and liabilities. Jesus christ. Rich dad poor dad is an entry level book. Too much educated illiterates in this thread.

The early missionaries who no longer make schools free should read it first then I will take you serious.

gobuchinny:
Im not speculating but im certain of the profitablity of all Oyedepos schools

I have told you this over and over again the aim is not to recover the cost of purchase of land or real estate..d aim is to have current assets in form of receivables ..and allow the land appreciate over the years..

Y cant you google if land and building is intangible assets or not ...must I spoon feed you that's how you guys don't study your bibles but allow these thieves to keep feeding you nonsense every sunday to fleece you and buy businesses in their names while you guys remain poor

Infact its easy for Oyedepo because he didn't dip his hands into his family treasury to buy the land..its free money that never left his balance sheets but left the sheeples balance sheet..its just like yahoo yahoo..free money las las dey remove cost of internet and other miscellenous but by and by its free money

You talk nonsense shamelessly. It show delusion and hatred.

I gave you a concrete example of the newly built FA in Delta State and showed your speculating @ss why they cant recover cost of construction alone in two decades but you conveniently ignored that and continued with your speculation.

You are talking more rubbish. Sample you school if it exist let's compare it to one of the FA by fees paid, services rendered, stafff salary, population, and capital. You wouldn't because you know I will expose you conclusively with that.

gobuchinny:
See your life...are the members not being taxed in the church? y isn't it free for the members atleast..lets forget non members...even the so called subsidy sef the members cannot afford...besides they have quota for scholarships for members which is a very small lot and is highly politicised as a typical Nigerian enterprise..

And how do I know all these..i was a die hard member before I was liberated

See your brain also . . . . dont govt collect tax? why cant all Nigerians afford govt schools? Can all citizens afford your non-existent school in virtual Lagos?

@bold, tax how?

1Sharon:
The government pays for it through the taxes ppl pay.

But as I said before, don't even try to compare paying taxes to paying the full amount for a service. A disadvantaged person in the UK can get a house funded by the government and get money paid to their account without needing to hustle.

So tell me again how this school helps the ppl of Nigeria? Majority can't afford it. So dont try to imply what this pastor did wasn't a disservice, you and that other fool

Who pays tax to the govt?

gobuchinny:
Leave the jew man..em no sabi anything..economics sef em no know..dey talk amortization and depreciation for where land dey ..such boldness in ignorance

And you wen talk say land and building follow for intangible asset shey na you sabi something?
Dey dere make you dey speculate like say church dey born pikin?

contigiency:
Reading the article, the writer seems to suggest that people are against the church from contributing to education. No. What people are actually saying is that almost all the schools built by the churches in Nigeria are exclusively reserved for the rich. Because, about 90% of the followers can't afford the fees being charged. Whereas, when the missionaries brought us education among other things, their aim was to reach out to the poor, as against what is being practised today which takes to the rich instead.

The churches that sent missionaries are still operating today and the sensible question to ask is how many of them charge less than Winners or nothing? Please research this well before typing back.

Your govt that used to do similar thing too is trying to offload education subsidy from their neck. That should tell you something. Life isn't by crowd mentality but by logic. Part of maturity is the ability to accept things for what they are whether it favours you or not.

1Sharon:
Pays for what?

Free health, education, and public services in UK ?

1Sharon:
If you are on a low income you pay NONE of those.

Don't don't even try to compare paying taxes to paying the full amount for a service

I like how you ignored the part on free healthcare in Nigeria

Who pays for it?

glambo:
You are a learner about properties.
I kno of a property that was sold for N17.5million 3 years ago, today if you want to buy same property in the estate it's N37.5million.

Mr property guru, how much can Covenant Uni land be sold to you?

glambo:
You are a learner about properties.
I kno of a property that was sold for N17.5million 3 years ago, today if you want to buy same property in the estate it's N37.5million.

After goofing big time on the accounting aspect you are running to real estate now abi.
Ok
Can the land appreciate enough to cover the subsidy the students are currently enjoying.
Can covenant university land for example be sold for up to even N40bn today? Never!
But the ministry has subsidized the school far more than that already and you are here speculating based on hatred for the visionary.

1Sharon:
Dumb response.

Primary & secondary schools in the UK are free. Universities in some parts of the UK are free. Contraception in the UK is free and I know some healthcare in Nigeria is free.

Now tell me, how exactly does this extortionate school help the Nigerian economy and people?

How many parents in Nigeria can afford to send their children to this school? It's a sad fact but majority of Nigerians are poor and you know it.

Now tell me how this school isn't exclusively for the rich who are a minority in Nigeria?

Tax, NHIS, Donations. Your know what they are right?

gobuchinny:
I cant make my family school free because it was built on the blood and sweat of my late Fathers gratuity ..

Oyedepo school is built on the sweat and blood of gullible sheeples like yourself free cash...its like someone stealing from you and you are thanking them ..sad part is that 70% of the members cant afford to send their own kids to the school...and we are here condemning yahoo boys

Atleast even if we dont agree im glad i have educated you on economics today..so now you will aprreciate real estate and dont think when people are buying land they dont know what they r doing

Blind follower of the blind

You are only speculating about the profitability of faith academy schools.
The one in Delta newly built cost well over a billion Naira and there is no way they can recover the cost of building it talk less of maintenance and other recurrent expenses like staff member salaries.
You speculated that the land on which it built appreciates and can be sold but is land and building intangible assets?

gobuchinny:
How else do you wanna know a mans motivation if not to follow the money? do you know how much CU charges? do you think going to CU comes cheap?..

Don't know how much FA charges but I know it will be above the average

If the schools were free like what Awolowo did or what the early missionaries did..then I wont even be on this thread my brother

But telling me to celebrate or appreciate someone who is running a business and providing a service that people are paying for at a premium is an insult to my intelligence.

I really don't blame Oyedepo but our useless and selfish government..the man saw a need and filled it..demand and supply..simple economics..

its a way of diversifying the much cash that is generated every sunday..too much cash needs to be plunged into fixed assets that generates current assets..real business men know this principle..

Like I said..its similar to money laundering or washing your money in the laundry so it becomes clean...fraudster buy hotels do you think dey buy it to recover their principal amount?? no rather its to hide the cash in the assets while generating whatever liability that comes with it..

Its a win win for them and if they ever become broke again they sell the real estate at above the FSV for which it was purchased in the first place

Free like awolowo and early missionaries schools... make your family school free then and teach Oyedepo a lesson.

Why do you think the early missionary schools aren't free again ? You are delusional man.

gobuchinny:
My good sir I like you matured points. however, he should not be commended because its just a business for him..y r we acting like his doing Nigeria a favour? CU is charged at a premium so its a business...who benefits from the proceeds of this business..its his family..how can you use tithes and offerings to build school privatized in your familys holding and expect I clap for him?

If the schools were free or subsidised then it might be understood but the school makes profit...not to talk about the real estate that is registered in his families holding...

Besides he doesn't collect from a few but ALL...if you r not tithing or paying offering I doubt you r a serious member as Papa would tell you that himself

Did the first founder of redeem pass the church and its properties to his relations?

Is land and building intangible asset ?

gobuchinny:
Hmmm..another uninformed quote

Just negodu wetin son of man dey spew out..

Chaiiiiiii..indeed Nigerians cannot think for themselves hence the level of brainwashing..

I wont even begin to discuss this one with you bro...your ignorance is affecting me and I have to be careful else I will just be as ignorant as you


Im happy i speak from an informed position...i run my family school and understand business..weather the school was made with bamboo ..na you sabi but im happy im not ignorant

Run away if you want to.

gobuchinny:
You guys don't understand my points...that he has a good school is commendable but not more commendable than any other business man that own schools...he is providing a service and people are paying so kini big deal?

Besides it free money

Is the fee being paid covering the running cost of the school? That's the important question. It isn't.

gobuchinny:
You are an ignorant man

Amortization is for intangible assets and can never be used for fixed assets like land while depreciation cannot be used for land in the company balance sheet bush man and fake economist thats y Papa is always knocking your head on the wall because you are not smart ...

Depreciable properties include vehicles, real estate (except land), machinery.......

Be smart and stop forming wisdom when you lack it

So if building appreciate why are govt schools looking like poultry?
mind you your imaginary school is in Lagos where real estate can be very profitable? Will the church now carve out a land from its compund and sell it in the future?
Did Olufemi Akindayomi of redeem transfer RCCG to his children or Adeboye? Answer that.

gobuchinny:
You guys really have a slave mentality..

Someone is using free money to fill a void in the economy like demand and supply like any other business and you all expect us to jump up and praise him? answer me naa is the school free? isn't he making money from the school? you think iz charity? slave mentality

The real business men are Dangote and Tony who hustled to grow their business not from free money like your man of gold Oyedepo..selling the gospel to you slaves that wont study your bible but worship men that are after your pockets..

My familys school is 16 years this year...beleive it or not it makes decent money and im satisfied because im the heir with my siblings just like Oyedepos children will inherit all the real estate while your own children cant even afford to attend CU

Your memebers are very broke...i know alot of them yet your pastor is fleecing them and doing business and we should all jump slavery mentality

Ignorant dude.
I have been waiting for the bold.
Did Olufemi Akindayomi of redeem transfer RCCG to his children or Adeboye? Answer that.

Ekealterego:
So school doesn't appreciate and the land on which the school is built doesn't either?
No wonder the IQ of the average African is assessed to be low... With assertions like this, one could clearly argue against that.

Why can't the govt school appreciate? WTF are you chatting about?

Low IQ indeed, is Land and Building same thing to you?
Why aren't govt school appreciating? Research the accounting concept called amortization and depreciation to cure you ignorance instead of fo.oling around endlessly.

gobuchinny:
You are ignorant sir and don't read between the lines..how can a school building appreciate?did you really ask me that...hmmm...are school biuldings not real estates? don't you know that real estate always appreciates?

The value of Government school in 2006 is it the same value now? do you know that in Lagos state Government balance sheets the properties will appear as fixed assets which culminates to profitability?

Y do you think people buy houses or build estates and put for rent? do you think its because they wanna make the principal back? you are not exposed and not financially equipped to comprehend..do you have a building of your own? if you do then you will understand my points..

But you have been brainwashed

Its like money laundering bro..when you have so much cash you buy fixed assets to convert the money to fixed assets which in turn generates liability..you really dont care to make your principal invested but all you want is that your principal is secured and no better way to secure same than through treasury bills/bonds and real estate...

but you will never comprehend because you lack business acumen and are very limited to your pettiness

At bold, there is some thing called amortization and depreciation in Accounting. research it and cure yourself.