Recycled topic

musherifat:
Pls can anyone help me with ICAN study centres situated in ADO-EKITI and the details of what they charge for Professional Classes?

ICAN Approves FUOYE, Ekiti State As Examination Center https://www.trendingaccounting.com/2018/12/ican-approves-fuoye-ekiti-state-as.html?m=1

Same old story. tell us something new please

theunnamed:




Even the N0.18 wey suppose dey rest for access bank don waka

My song next year na "Baba na your hand I dey, abeg run am for me"

hahahaha, you never see anything. My own song for 2019 na God I beg By Timaya. Me and life go Chuck leg for one trouser for 2019

theunnamed:
Na was oo

Looooooool. e be like say your pocket no ready for 2019?

By Dr Tayo Oyedeji

My father died the year I turned 18. I was an undergraduate studying mechanical engineering at the University of Ilorin when he died. My siblings and I would have had to drop out of university if not for my industrious mom who toiled day and night to ensure that we graduated.

The tough times that followed my father's death is the reason I am passionate about financial literacy. I have seen too many kids suffer because their parents never learnt to domesticate money.

Financial literacy is not just about you: it also insures your children's future. My father's generation of Africans did not believe in things like life insurance and education saving funds. Their financial illiteracy has derailed the destiny of kids all over our continent. It would be a shame for us to repeat their errors.

The following questions cover the basic first steps of financial independence. I will appreciate it if you would do the following:
. Grade yourself.
. Share your grade.
. Share your plans for improving those grades in 2019.

1. EMERGENCY FUNDS:
Have you saved the equivalent of 1-month salary in a basic savings account? - 20 Points

2. SIX-MONTH COVER:
Do you have the equivalent of 6-months living expenses in a high yield investment instrument? – 20 points

3. DEBT ELIMINATION:
Are you completely debt free with the exception of your house mortgage? – 20 points

4. MULTIPLE STREAMS:
Do you have at least two income streams? – 10 points

5. SAVING PLAN:
Do you save at least 20% of your monthly income? – 10 points

6. WILL AND LIFE INSURANCE:
Do you have a will that protects your family? Do you have life insurance? - 10 points.

7. EDUCATION FUND:
Do you have a savings plan to ensure that your kids can have a good education even if something happens to you? - 10 points

I scored 80%. I still have some student loans that I have not fully paid off. I plan to pay it off in Q1 2019 so that I can improve to 100%.

Dr Tayo Oyedeji is an Oxford-educated entrepreneur with business interests in technology and advertising.

SOURCE: https://www.trendingaccounting.com/2018/12/7-most-important-questions-to-answer.html

The front page of Nairaland is gradually becoming a trash can where every meaningless Posts are being kept!!!

The Nigerian National Petroleum Corporation (NNPC), said it has spent N623.16 billion on subsidy from January to November, 2018.

The Petroleum Corporation body said it made this available to the Federation Account Allocation Committee (FAAC) at the last meeting which was held in Abuja, Nigeria where all the revenue generating agencies gave account of their performances in the year 2018.

In its report dated 19th December, 2018, the NNPC revealed that it also has an arrears of N67.23 billion for deductions made from the Federation Account Allocation Committee (FAAC). The report also revealed that there was a total FAAC deduction of N676.49 billion comprising of N599.74 billion as under recovery for Direct Sales Direct Purchase (DSDP) arrangement and N23.43 billion as under recovered from it’s refineries.

The document stated that the amount incurred as under-recovery by the NNPC was deducted from the Federation Account is as follows:
January N45.78 billion,
February N59.51 billion,
March N34.03 billion,
April N77.9 billion and
May N88.9 billion.

The breakdown of the N623.16 billion under-recovery revealed that N51.24 billion was incurred in January, while February, March and April recorded N58.66 billion, N36.09 billion, and N82.4 billion respectively. The amount of under-recovery incurred by NNPC on PMS in the month of may dropped to N36.87 billion, but rose to N53.41 billion in June, N52.43 billion in July and N63.18 billion in the month of August.

The NNPC deducted about N68.6 billion in the month of June 2018, in July, August, September, October and November, it made deductions of N52.5 billion, N60.6 billion, N71.56 billion, N51.18 billion and N65.86 billion respectively.

Apart from the deductions made from FAAC, the amount which was spent on subsidy, or as under-recovery by the NNPC rose to N71.8 billion in September, before dropping down to N51.18 billion and N65.86 billion in the months of October and November respectively.

According to the document, it was indicated that NNPC is currently subsidising petrol through its under recovery arrangements.


SOURCE: https://www.trendingaccounting.com/2018/12/nnpc-spends-n62316-billion-on-fuel.html

As the new year is around the corner, new trends will surely emerge. In the accounting sector, technology is becoming increasingly involved, mainly as a means to increase the overall operational efficiency in business. Are are wondering which accounting trends will leave the biggest mark in the year 2019? here are a few trends that will surely make waves.

MOVING TO THE CLOUD
Cloud computing system and storage is becoming more widely used by old and new accounting firms. Not only do cloud Accounting promote mobility, ensuring remote work is easily and managed properly, but it also provide loads of other benefits.

Many of today’s leading cloud Accounting solutions offer improved security, quality control and data recovery options that may not be accessable. In addition, the cost savings is often notable, especially when compared to adding, managing or maintaining internal servers with the same level of accessibility.

INCREASING SECURITY
Accounting firms are increasingly focused on security due to breaches regularly making headlines. The Accounting industry handles incredibly sensitive data, that is why they are prime targets for an attack.

Small firms are going to concentrate seriously on security improvement as they are often seen as the easier targets by cybercriminals thanks to traditionally lower security thresholds. Since the threats against the accounting industry is increasingly becoming more sophisticated, rising to the challenge is a must.

Read the full article in the link below: https://www.trendingaccounting.com/2018/12/important-accounting-trends-for-2019.html

All these bloggers that will post about 10 words and a picture on a blog post, what are your plans for your career?

The Corporate Affairs Commission (CAC) has disclosed that it registered over 69,000 business entities in two months. This was coming after the launch of its Business Incentive Strategy (BIS).

The acting Registrar-General of CAC, Lady Azuka Azinge, who said this during a media roundtable in Abuja recently explained that before now, the number of business registration they had in three months of the same period was about 50,000 and in two months, the number grew to over 69,000.

She also said they are still expecting to have a very large number of businesses registrations before the end of December.

According to her, the main aim of crashing the cost of business registration in Nigeria from N10,000 to N5,000 for a period of three months (1st October to 31st December 2018), was to enable massive registration of small businesses in the country.

“People are already asking for extension and we have just written to the minister of Finance to extend it for another three months. The initiative is being commended by most state governments are asking and several associations saying that we should please give more time to enable them register.”

She said the initiative was in line with the major thrust of the president Muhammadu Buhari's administration which centred on revamping and diversification of the economy through constantly supporting MSMEs. The CAC boss said the Commission has also provided a user-friendly Company Registration Portal (CRP) via its website which gives customers real-time access to the services of the Commission from their offices or homes.

SOURCE: https://www.trendingaccounting.com/2018/12/cac-registers-69000-companies-in-2.html

If this was a mosque built in Northern Nigeria, Watch how our brothers from the East will insult them.

Read more about financial habits here https://www.trendingaccounting.com/2018/12/8-bad-financial-habits-you-need-to-stop.html

Even if you have the best plans, you can still get into trouble with your money. Especially if you’ve developed some of these dangerous money habits.

If you have been contending with your finances, take a look at this list so as to be sure you’re not sabotaging your efforts with these bad habits

NOT HAVING BUDGET
You will never stay afloat financially if you don’t have a budget in place and know how to stick to it. A budget will allow you to see how much money you are making and where it is all going. It enables you to implement changes that help you save more money and avoid going broke each month.

Budgeting is not supposed to be a big task. Sign up with a program like Mint that automatically tracks your spending for you. All you have to do is pop into your dashboard each day to make sure you’re staying on track and make adjustments as needed.

IMPULSE PURCHASING
Impulse purchases deals with emotion. You see a particular product you don’t want to miss or an item you have been longing to have, immediately and you jump to buy it before thinking whether you really need it.

To control impulse spending, force yourself to wait for a certain period (it could be a day or 30) before deciding on a purchase. It will give you enough time to think about your decision, and chances are you will realize you don’t need it after all.

SPENDING MORE THAN YOU EARN
Spending more than you earn is probably the worst financial habit people have. It will mean you either touch your savings or go into debt. If you have problem with spendy, you have to look at ways to try to earn more money or cut down your spending.

You can earn more money by finding a side hustle, which will occupy your time and you will have less time to spend money. Alternatively, the best option is to reduce your spending.

NOT PREPARED FOR AN EMERGENCY
If there’s one thing that is inevitable, it’s that at some point or another something will go wrong. An accident will occur, a job will be lost, an appointment will be terminated or an appliance will damage. It is very important to be prepared for an emergency when it comes to your finances. You don’t want to be caught off guard, financially anyway. Save some money for emergencies.

HOARDING MONEY AND NEVER HAVING FUN
On the opposite end of going into debt and spending too much is being afraid to spend anything! If you’ve been hoarding money to the point of great unhappiness it’s time to stop that habit. Lighten up on yourself a bit and enjoy the money you haveve worked very hard for.

BUYING UNNECESSARY THINGS
Do you have a hobby? Do you like to buy things? Have you accumulated many items that you rarely or don’t even use? If the answer to the above questions is yes, then you should consider stopping buying things that you don’t really need. If you have accumulated a collection of items like trading cards, books, etc, try and sell some of them and make some extra cash on the side while you are at it.

NOT BARGAINING
Make bargain-hunting a habit. Some of the wealthiest people in my study shopped at Goodwill stores. They look for the best deals, clipping coupons, watching movies during the early discount showings and shopping around for the lowest price. Put the cost difference after you have bargained into your savings account.

RELYING ON CREDIT TO PAY THE BILLS
Credit is very expensive and if not utilized properly, it becomes a trap! If you’re covering basic things like food or rent on credit or using it for meaningless purchases (like a vacation or new clothes) you need to redress the situation.
While at some point you might need to rely on debt – say, for education expenses, a mortgage, or an investment property it should be done with planning and extreme care. Do not cover your bills with credit cards or any other form of debt.

SOURCE: https://www.trendingaccounting.com/2018/12/8-bad-financial-habits-you-need-to-stop.html

No be this your post dey do me now

Your habits can either aid or hurt your success in life. Bad habits can fester and grow into a lifestyle that takes you away from the things you want to accomplish while good habits can help you create a life that is full of action and accomplishment.

If you were to take a look at someone you respect, someone who is successful, you would see that they spend each day doing the things that help them achieve their biggest goals. This is not to say they are perfect because no one is perfect, but despite the things that are imperfect in their lives, they continue to make moves that will impact their lives positively. And it begins with their daily habits.

Now, while we can all read about successful habits, it will be meaningless if we don’t practice that knowledge. So here are five daily habits of very successful people. You can adopt these habits to create the life you truly want to live:

1. SUCCESSFUL PEOPLE PLAN THEIR DAY THE NIGHT BEFORE:
It’s easy to fall off track when you don’t have a plan. If you don't plan, you wake up not knowing what you want to do or accomplish. Successful people spend some time on the night before giving themselves clear achievable goals for the next day. Then they wake up and start working on their list. Life does not always work out as planned, but when you have a plan, you can adjust without losing focus.

2. SUCCESSFUL PEOPLE READ BOOKS TO GET INSPIRED:
Reading is an important element in success. Books contain enough knowledge. Infact, readers are leaders. Apparently Elon Musk was growing up, he would read at least four hours. And see how very successful he became.
There isn’t a defined length as to how much time you should spend on reading, but having a daily reading habit will broad your knowledge and help you on your success journey.

3. SUCCESSFUL PEOPLE PRIORITIZE THEIR HEALTH:
The food you eat and how much you exercise you do affects every area of your life. Successful people use their time for exercise to reset and plan. And they eat good food that will give them the needed energy to accomplish everything on their daily to-do list. So, what’s for dinner? Is the gym on your daily to-do list? Make a wise choice.

4. SUCCESSFUL PEOPLE DON'T DISTRACT THEMSELVES WITH WHAT OTHER PEOPLE ARE DOING.
Other people’s journeys to success can inspire you; you can learn so much about their victories, their mistakes, what to do and what not to do at a given time. But if you start to compare your progress to theirs, instead of using their stories to inspire you, you can feel jealous, stressed and worthless.

Successful people know that their journey is unique and can’t be compared to someone's. So don’t fall for the comparison trap, stay focused on your lane.

5. SUCCESSFUL PEOPLE LIVE EACH DAY AS IF IT WOULD BE THE LAST.
Life is busy, it’s filled with chaos, and so you aways want to focus on the future, we all worry about what’s next. But while planning is very necessary, so is living, being fully present.
Life is very short, and there is no guarantee as to when it will come to an end. Successful people live each day as if it they will die the next day and make the most out of each moment, and so should you.

When you look at a big goal, it’s common to get frustrated at the hugeness of what you’re trying to achieve. If you wake up each day determined to spend it developing good habits, you give yourself a better chance to succeed. So you can use these five habits as a starting point to build whatever a successful life means to you.

SOURCE: https://www.trendingaccounting.com/2018/12/5-daily-habits-of-highly-successful.html

Productivity is not measured by how many tasks you accomplished from your to-do list. It is measured by the progress you make on important outcomes.

It is very easy to be busy doing all kinds of things that make no difference to the task you are trying to accomplish. You can agree to do all kinds of work and undertake projects that consume your time and energy but, while interesting, you are doing nothing to move your major projects or goals.

NARROW YOUR FOCUS
For you to be productive is about narrowing your focus. It’s about having priorities. It means that you carefully highlight what is very important thereby terminating things that are not worth Investing your time and energy on. It’s not honourable to be busy, no matter how many tasks you accomplish in a day. A day is said to be successful when you make major progress on what is most important.

If you are struggling with this idea, you can use a time journal to take a measurement and make adjustments. You can Start by jotting down everything you do from the time you wake up until when you go to bed. Make this a daily routine for three or four days, and be completely honest with yourself.

That means writing down that you spent 20 minutes of your time on bed looking at social media on your mobile device, that you spent an hour on the phone with someone else's issues, and that you spent just over two hours chatting. Maybe you also spent forty-five minutes on your most important issues.

RAISE YOUR STANDARD
By taking a look at what you really do and how little of it is related to what you want to accomplish. You create the awareness that always bring about a positive change. That positive change expects you to raise your standard, that you make a decision and act on the idea that you are going to prioritize the most important things instead of what makes you busy.

If the things you are doing is not moving you closer to your aims, then stop doing them and do something totally different. It makes no sense to be so busy and you are not productive.

Written by Onyema Donald Chigemezu

SOURCE: https://www.trendingaccounting.com/2018/12/the-difference-between-busy-and.html

Papilo done dey Old ooo, white hair and white bear bear everywhere.

ikpuology:


Do you have to swear an oath before you comment on a Christian thread?
If they feel insecure about the comments they will get in an Islamic thread,
Whose problem is it? Christians or Muslims?

No I don't swear an oath because the Muslims that comment irresponsibly on Christians thread the way Christians comment on their thread. Even Christians comment irresponsibly on Christians thread.

.

Mod, please push it to from page please or I will start blogging about irrelevant things like ass and boobs!!!

ikpuology:
My Ban expired right on time for I must spread the truth.

SEUN IS A BLOODY RELIGIOUS EXTREMIST.
SEE THE IRRELEVANT ISLAMIC TOPICS COMING UP ON THE FP?
WHY DO WE HAVE TO BE SADDLED WITH IT?

YOU CAN BAN ME AGAIN LALASTICLALA, BUT I ASSURE YOU,
I HAVE THOUSANDS OF MONIKERS AT THE READY TO PROMULGATE THE TRUTH AND LIBERATE THIS FORUM FROM TERRORISTS.

Are irrelevant Christian topics not making front page on Sundays?

When it comes to choosing a career in accounting, it won't take a special type of person to be totally honest. If you are not detail-orientated and cannot deal with the nature of your work, then you have no business getting an accounting degree. However, if you are the type of individual who can spend excessive amounts of time reviewing data and cross-referencing figures and you enjoy mathematics too, then you should look into earning an accounting degree.

So if you have been on the fence about getting an accounting degree, you shouldn’t be, because as long as you fit the requirements for being an accountant and you are passionate about learning about accounting, then you will be well-suited to the job.

The following are the jobs you can get with your accounting degree.

FEDERAL GOVERNMENT ACCOUNTANTS:
When it comes to job security and perks, getting a job within the government is both smart and respectable. Accounting jobs within the government are quite competitive, so make sure you have the right skills necessary to shine through the intense competition.

POSTAL SERVICE ACCOUNTANTS:
Postal services are increasing over the world. It is one of the biggest links ever. The service frequently has Job vacancies and the salary is usually so good that you will be financially buoyant for quite a while.

CERTIFIED PERSONAL ACCOUNTANTS:
Of all the accounting careers, this is the one that has been garnering buzz and popularity at a steady pace. Once you are qualified as a certified personal accountant, you can handle so many clients all at a time. You can be a boss of your own and choose how big a workload you prefer. This is the appropriate position for individuals who can’t tolerate rigid rules work settings.

TAX AUDITORS:
Taxes are very important both for the government and citizens. As a result of these, tax auditors are very important to the society, but most especially to the government. Start a career as a tax auditor and you will be making huge sum of money yearly.

TAX PREPARERS:
It is not easy to handle all your tax returns on your own. You need an expert in taxation unless you want to end up paying more taxes than you should be paying. Tax preparers are professionals who examine your tax issues and aid you in saving the maximum possible.

BOOKKEEPERS:
Bookkeepers are saddle with the responsibilities of maintaining accurate and spotless records of financial data, from general payments to incomes.

PAYROLL MANAGERS:
Big corporate organization usually require a large number of payroll managers to take care of their employees’ salaries. Payroll managers are high in demand, but being a payroll manager is also quite tasking.

MANAGEMENT OF ENTERPRISES:
Accountants don’t stick only to accounts anymore. In most situations, accountants are now even trusted with more demanding tasks, like running a full company or enterprise.

LOCAL GOVERNMENT AUDITORS AND ACCOUNTANTS:
Government jobs holds a great deal of value for accountants. As mentioned earlier, accounting positions within the government are highly coveted.

STATE GOVERNMENT AUDITORS AND ACCOUNTANTS:
The job responsibilities of state government accountants are similar to that of their local government counterparts. The difference between the two is that the benefits and perks in state are more lucrative.

SOURCE: https://www.trendingaccounting.com/2018/12/top-10-jobs-you-can-get-with-accounting.html

Are you interested in pursuing a college degree, but you are not sure of what to major in? If you have passionate about business, an accounting major might be the path for you. The following are the reasons why you should get an accounting degree.

AN ACCOUNTING DEGREE IS VERSATILE.
People may be thinking an accounting degree is only good for one thing which is income tax preparation. While income tax preparation is indeed an aspect of a public accountant’s job, there are so much more you can do with an accounting degree. In the world of world, there is always a place for accountants but you can go beyond that field. An accounting degree can be used in many different fields; an accountant can work for a non-profit organization or the government too. You can work with your degree in unexpected industries, such as education, mining, manufacturing or healthcare.


THE JOB MARKET IS GROWING.
You may be worried about finding a job in your field of study or you’re going back to school to move up in your career, you’ll be lucky in the field of accounting. The future of graduates with accounting degrees looks bright. It will prove beneficial when you Obtain at least a bachelor’s degree; although an associate’s degree in accounting is a good start, but it won't yield jobs higher than clerk positions or less.

YOU CAN GET A GOOD ACCOUNTING DEGREE ONLINE.
Don’t let your current job hinder you from growing your career. Some of the best universities in the world have expanded by adding online accounting degree programs. You can earn your bachelor’s degree from schools online. Many of these online schools offers master’s degree programs in addition to CPA certification programs.

THE PAY DOESN’T HURT!
An accountant in the United States earns at least $60,000 a year. Not bad! You can have a rise in salary With additional certifications and education.

YOU CAN BE YOUR OWN BOSS.
If you have an entrepreneurial spirit, after gathering few years of experience, you can utilize your accounting degree and CPA licensure by starting your own business! Be ready to work very hard and put in the extra hours; when you are working from a home office it won't allow you to set your hours, but always stick to your schedule. You’ll be an asset of value to small and big business owners. Like every other start-up, you are advised to take advantage of any platform you can use to market yourself, even if it is local or through social media

SOURCE: https://www.trendingaccounting.com/2018/12/reasons-why-you-should-get-accounting.html?m=1

Accounting and bookkeeping are very important elements of any business. Effective accounting allows you to make valid decisions, reduce costs, generate more profits, and keep track of your business growth as well as financial status. Majority of business owners hire accountants mainly on the basis of their experience in taxation. A competent accountant can do much more for a company than just save taxes or make payments. When you don't consider an accountant’s knowledge levels and competencies while hiring, can ruin your business. Here is a list of few signs of a bad accountant that you must bear in mind while employing one.

CANNOT EXPLAIN FINANCIAL STATEMENT
As a business owner, despite having an accountant, you still need to monitor financial records to keep track of the financial condition of your business and for making important decisions. Many small business owners find it very difficult in understanding complex financial statements. Furthermore, even if you have vast knowledge, as a business owner you may be too busy to sit and go through every detail of the financial statements. An accountant must be able to explain these financial statements in a quick and simple way. Sadly, many accountants do not educate business owners on financial reports due to an ill-conceived idea that professional knowledge must remain secret in other to maintain job security.

INSUFFICIENT EXPERIENCE IN TAX
An accountant must be able to take advantage of exemptions and allowances available to business. Tax returns must be filed within the deadline to make sure your business enjoys the maximum benefit. While there are certain accountants who are quite rigid and simply apathetic, there are those who tend to be a bit more aggressive and take risks in taxation that should not be taken. Your business can face losses in both cases. An accountant must have complete knowledge concerning taxation and other related laws, so as to aid you make the most of them in compliance with regulations.

LOW ON INDUSTRY KNOWLEDGE
As mentioned earlier, an accountant does more than just or make payments or save tax. Before employing an accountant, you must examine his knowledge about the industry. Every business sector and industry is governed by different laws, principles and policies. This is very important because an accountant can offer you useful advice and solutions for the financial woes of your business. If this relates to your current accountant, you must reconsider looking for another accountant.

MISSES OUT ON DEADLINES
There are people who have the attitude of leaving things until the last minute. An accountant who leaves vital payments, filing of tax returns and other business transactions for the last minute, because they could not find time is not a good one. In such cases, you may miss important deadlines, which can damage your company’s reputation and finance. Therefore, before you hire an accountant, make sure to look out for referrals and ensure you hire an organized one.

WHEN YOU ALWAYS HAVE TROUBLES IN REACHING TO YOUR ACCOUNTANT
If you are always struggling to find and communicate with your accountant, then you should consider a replacement. No matter how smart he may be, if he is not available in times of need, then he is a bad accountant. You should be able to easily reach your accountant or you must receive a response within 24 hours of contacting him.

All of the points listed above indicate the signs of a bad accountant. Having a bad accountant can damage your business with wrong tax filing and non-compliance of bookkeeping and accounting rules. leaving accounting in the hands of a trusted professional accounting firm can take this load off, which will leave you with space to focus on vital business functions.

SOURCE: https://www.trendingaccounting.com/2018/12/5-signs-you-have-bad-accountant.html

https://www.trendingaccounting.com/2018/11/best-accounting-software-for-small.html?m=1

Best Accounting Software For Small Business
From the beginning, small scale business owners are pressed for time. It isn't easy finding the time to take care of the finances and accounting. Fortunately, the stress is over as help is at hand with some innovative accounting software designed and developed to simplify monetary processes and requirements.

The following are the 10 best accounting software programs for small businesses.

Sage 50c Accounting Software
Sage 50c is one of the foremost and most popular Accounting Software. It is a desktop software with built-in anytime, anywhere cloud access apps. Combining a desktop solution with online access, Sage 50c Accounting makes it possible for small businesses to run their financial tasks more quickly and faster.

Sage 50s manages invoicing, cash flow, inventory, taxes and more, which gives you and your employees’ more time so you can get on with running the affairs of your business. Sage 50c Accounting software comes in three level packages which begins from $439.00 a year.

Xero
Xero is online accounting software which help small businesses to manage invoicing, bank reconciliation, bookkeeping and many more services. With the customized Xero dashboard, businesses can easily see how cash is been tracked at a quick glance. Xero also helps in reducing office administration time and improve cash flow by paying bills on time. The software comes in three types of packages starting at $9 per month.

Wave
Wow!!! Wave is totally free! This financial accounting software for small businesses enables you to track all your expenses, send invoices, get paid and balance your books. The good news is that its ‘100 percent free software’, Wave also offers an extra premium payment service, which makes it possible for small businesses to accept credit cards on invoices and offer automatic recurring billing for repeat customers.

FreshBooks
FreshBooks is an accounting software which is designed to make life easier for small businesses and their owners by allowing them to spend less time on accounting and more time on running their businesses. This simple and intuitive platform automates tasks such as organizing expenses, tracking time and following up with clients about invoices. As FreshBooks lives in the cloud, you can securely access its accounting features from multiple devices. FreshBooks is available in three packages, the basic ‘Lite’ package starting from $15 a month for five clients.

Kashoo
Kashoo is one of the best accounting software, and it works for small business owners in any industry. With its intuitive dashboard, you can see where you can see the position of your business in terms of invoices, expenses, payments, reports, bank feeds and more. The great thing about Kashoo is that it provides real human support if you require help with the software and its attributes. Kashoo costs $29.95 per Month and also offers a cheaper Annual Plan.

Zoho Books
Zoho Books is the self-acclaimed easy-to-use cloud accounting software for all small businesses. Zoho Books connects to your bank account with automated banking and gives you real-time updates on your cash flow. This well packaged software monitors all transactions and instantly categorizes them. You’ll also be able to know the way around your expenses with Zoho Books as the software tracks, categorizes and bills your clients from one suitable place. Zoho Books comes in three packages, the Basic level package starting at around $5 a month

QuickBooks
QuickBooks is created to help small businesses keep their finances and accounting organized in one convenient place. If you have an accountant, you can share your books for seamless collaboration. In order to help save you precious time, QuickBooks enables you to connect with your bank account to automatically import and categorize transactions. With QuickBook mobile, you can take photos of receipts and store them. This particular software also creates dozens of reports, which means that you’ll always know where your business stands. QuickBooks offers four levels of pricing, starting with a package designed for a sole proprietor pr self-employed for $5 a month.

OneUp
OneUp is a fast and easy accounting app, with an automation rate of 95 percent. This accounting software takes care of all those important accounting features for you. They include; invoicing, CRM, purchasing, inventory, logistics and many more. OneUp is available in five different packages, which starts with a ‘Self’ level, designed for independent contractors or sole proprietors for approximately $7 a month.

KashFlow
KashFlow is a many functions in one accounting software. Businesses using kashflow are kept in the loop by having access to a full view of their accounting and finances. This software provides intuitive invoicing, so you can get paid easily and faster and also provide reports that are easy to comprehend. VAT returns and payroll are taken care of by kashflow. KashFlow is available in different packages that can meet your accounting needs. The ‘Starter’ package is not an expensive option for sole traders and small businesses, it is priced at approximately $5 a month.

Account Edge
AccountEdge Pro Accounting Software
AccountEdge Pro is wonderful small business accounting software. It is compatible for Windows and Mac desktop. The software caters for inventory, banking, payment processing, payroll, document management, and provides a wealth of reporting capabilities. This very understandable accounting system is available in three versions, starting with Mamut AccountEdge which costs around $110 a year.

Are there any major accounting softwares not listed above? If you use accounting software for your small business and you really enjoy using them, please mention them in the comment section.
Source: https://www.trendingaccounting.com/2018/11/best-accounting-software-for-small.html?m=1

SOURCE: https://www.trendingaccounting.com/2018/11/ways-to-raise-capital-for-small-business.html

Raising capital is one of the most difficult tasks, for any entrepreneur that wants to start up their very own small business. In Accounting, capital is the amount of money which is available for the business to spend on various business activities. Raising capital is not an easy task especially for an upcoming entrepreneur and often requires a lot of patience and determination.


There are so many ways that an entrepreneur can raise capital for their small business, however, before using any capital collection methods available, don't forget to have a business plan to show to your investors. The nature of the business, the objective, the mission statement, the business goals, costs, expenses, staff and everything business related will be stated in the business plan.


We made our research and discovered few ways that a small business owner could raise capital for their business, don't forget to try another method if one method fails 


Raise Capital from Friends

A person who wants to start a small business can always contact their close friends to get some money to raise capital for new set-up. Some close friends are always there at the point of need; however, make sure that there is something in it for them. Think about why they would simply lend you money? When you ask for money, pay it back with interest and within the payback period, or you can add them on as partners in your business. Regardless of what you decide to do, just remember, you have to be upfront and honest with your friends, otherwise you will not get the money, even from your friends.


Angel Investors

In a business, angels are the not the biblical divine beings, instead, they are very rich people that enjoy helping entrepreneurs in their business ventures. They are also called philanthropist. Always remember that angels are professionals too and they need to see a proper written business plan before they will even think about investing or giving you loan.


Family Members

Family members are always entrepreneur’s first point of contact when they want to raise capital. The thing about family is that they will always be willing to help and support a good idea with financial assistance. Families is very strong bond and even if you do not have a very good and presentable business plan, you will still be able to get the amount of money they require from family. Sometimes, the amount of money collected from family members may not be enough for your business, but it can be a starting point.


Private Investors

Going into the world of business will almost require you to deal with private investors. You can contact private investors in order to raise capital for a small business. Due to their hope of getting a large return on their investment, private investors are always willing to invest money into new and strong business ventures. Private investors usually have many years of experience in investments and business. As a result, you must make sure that the business venture you want to commence is profitable and has a solid business plan otherwise private investors may not want to invest or be of assistance.


Venture Capitalists

Venturing capitalists are investors that provides capital for new business. Contacting venture capitalists is a great way to raise capital capital for your small business; but it is often one of the hardest ways. Venture capitalists have very rigid terms for their investments. Over the years, only few small businesses have been successful in getting finance out of venture capitalists. You will get all the capital you need to commence and operate the business if you successfully pass the requirements set by the venture capitalists. Furthermore, venture capitalists will provide sound business advice and help you make business decisions so that your business grows and survives the business world. Venture capitalists will also take a return on their investments if the business does well.


Raise Money from Banks

Contact a bank for a loan is one of the great ways of getting capital for a small business. Provided their credit rating and history is good, most banks would be happy to provide a loan to you. Furthermore, banks will also need to see the business plan and all expected expenses and sources of revenue before they provide the loan facility. Once the loan has been provided, you must pay it back to the bank, with interest over a given period of time.


Entrepreneurship Supporting Institutions

There are some specific banks for entrepreneurs, where they can go, pitch their business venture, and if feasibly, the entrepreneurial bank will help provide the capital needed to start the activities. These institutions and banks allow for a longer payback period which means that you have more time to generate profit profit before payback period.


Ngo’s

NGO’s, means non-governmental-organization, they are also very helpful in raising capital for a small business. NGOs may not be able to provide financial assistance directly for you, however, they can guide you in the right direction to reliable sources where you can get capital.


Customers

An entrepreneur can raise capital by reaching out to their customers. How? Well, you can charge a customer for a product or service before you actually deliver it to them with an upfront payment. If the product or service is worth it for them, customers would be more than happy to make an upfront payment.

SOURCE: https://www.trendingaccounting.com/2018/11/ways-to-raise-capital-for-small-business.html

If you reside in Lagos and you are looking for a good ACCA study centre, then your search is over. Here is the list of all ACCA study centres in Lagos state.. Note that we are not affiliated to the centres listed below, so make your investigations before parting ways with your money.

1. GLOBAL INTERNATIONAL COLLEGE (GIC)
No. 26, Block 12 (end of Admiralty Way), Off Awolowo Road Lekki Phase 1, Lagos

2. STARRY GOLD ACADEMY
No 12, Ikosi Road, Oregun, Ikeja, Lagos.

3. KINGS CROWN BUSINESS SCHOOL
148/150 Bode Thomas Street, Surulere, Lagos

4. SYNERGY PROFESSIONALS
No 2, Afric Road, Off Western Avenue, behind Lead way Assurance Building Iponri.

5. CENTRE FOR LAW AND BUSINESS LTD (CLB)
CLB Hall, No 9B Abagbon Close, Victoria Island, Lagos.

6. FRONTIER BUSINESS SCHOOL
52, Ijaiye Ogba Road, (beside UBA Bank), Ogba Ikeja, Lagos.

7. THE EXECUTIVE BUSINESS SCHOOL LTD (EBS)
Naccima House, 8A OBA Akinjobi Street,GRA Ikeja, Lagos.

8. WYSE ASSOCIATES LIMITED
Maryland School Complex, Maryland

9. HARVARD PROFESSIONAL TRAINING NIGERIA LTD
86b, Iju Road, Opposite Guinness Co-operative House,By Jungle B/Stop Pen Cinema

10. INTERNATIONAL BUSINESS SCHOOL (IBS)
Lecture Centre: 91/93 Muritala Mohammed Way,Onayade St, Jibowu, Yaba, Lagos

11. CBA BUSINESS ACADEMY
Victory Grammar School, Behind Etiebet Place, By Abule Bus Stop, Off Mobolaji Bank Anthony Way Ikeja, Lagos.

12. BENCHMARK BUSINESS SCHOOL
No. 5, Ojolowo Street, Off Samuel Awonmi Street.By Salvation B/Stop, Opebi, Ikeja, Lagos.

13. STUDENTS PYE NIGERIA LIMITED
No14 Oweh Street Jibowu, Fadeyi, Yaba Lagos.

14. BEST ASSOCIATES
3, Sign Board B/St, Addo Road, Ajah.

15. PACE FINANCIAL TRAINING LTD
(Global Markets Dept. 1st Floor, Building B) Stanbic IBTC Bank, Walter Carrington Crescent, Victoria Island, Lagos.

16. RISK FREE STANDARD ASSOCIATES LIMITED
No 5, Olusoji Idowu Street, Off Association Avenue,Ilupeju, Obanikoro B/Stop, Ikorodu Road, Lagos.

17. FINAQUEST LIAISON OFFICE
Landmark offices, Africa Re Building 3rd Floor. Plot 1679 Karimu Kotun Street, Victoria Island Lagos.

NOTE: You can also visit their Head office/Country Office, you can locate it at Victoria Island Lagos, Nigeria for more information when the need arises-
Seacron Educational Nigeria Limited
(Representative Office of ACCA in Nigeria)
Ground Floor, Right Wing
Plot 259, Etim Inyang Crescent,
Victoria Island, Lagos
tel: +234 1 461 6269

SOURCE: https://www.trendingaccounting.com/2018/10/acca-study-centres-in-lagos.html?m=1

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In case you are thinking about becoming an entrepreneur, that means you are more than likely wondering what it truly takes. There's no cookie-cutter answer that applies to everyone. Here are five golden rules to follow if you desire to be a very successful entrepreneur:

1. WORK SMARTER, NOT HARDER
So many people see an entrepreneur as being someone who works 18-hour days, doing nothing but eating, sleeping and breathing his or her business. We often tend to paint the picture of someone so driven to succeed that their entire life involves working. But it doesn't quite look like that in reality: When you are working every waking minute of the day is not going to automatically make you a successful entrepreneur. This approach simply mean that the entrepreneur is responsible for doing everything, like the old adage, “If you want something done right, do it yourself.”

That approach doesn't work at all times, but a large number of entrepreneurs aren’t capable of sustaining such a backbreaking pace for a very long period of time. Overworking can often lead to fatigue, which leads to errors in planning and business. Furthermore, how many people truly have the skills to do everything? Nobody i guess. Most of us can do a couple of things really well but we cannot do everything. There are so many things we are average at, and plenty of things that we are just not good at. You must learn how to work smarter, not harder if you want success as an entrepreneur, this is a mindset that will take some time to adjust to.

2. HIRE PEOPLE WHO CAN HANDLE TASKS THAT YOU AREN’T GOOD AT
In trying to succeed as an Entrepreneur, you must hire people to do the things you are not good at. You can hire people to design your logo, marketing, make business plan, do market research, etc. By doing this, you will be allowed to focus on the areas of your business that you bring the most value to, while you have people in place focusing their attention on the areas that they can bring the most value to in the business. It’s a win-win situation. Great entrepreneurs understand the importance of delegation. It sometimes takes becoming overwhelmed (and failing) before you fully understand why it’s so important.

Sometimes, the thought of adding additional team members and employees can be very scary, due to the cost associated with building a large staff. But thanks to the virtual economy we live in and the internet, you can find the help you need in the form of freelancers and contractors. Websites like Freelancer.com and Upwork.com will help you find talented workers to handle tasks like graphic design, web development, sales prospecting, financial analysis, copywriting, multimedia production or virtually any other need.

3. GET MORE DONE AND SPEND LESS
In my opinion, using freelancers is not the most ideal situation for an established company, when your company is at its early stage, using freelancers and third-party contractors can be highly effective and cheap too. In fact, it can be very cheap affordable, thanks to basic supply and demand of goods and services. This dynamic is reinforced by the fact that many of the freelancers are based in markets of other countries. The cost of living in those countries are lower. This particular approach is much more cost-friendly when compared to full-time employees because freelancers are compensated only for the work they've completed.

4. LEARN TO NOT BE AFRAID OF FAILING (BECAUSE YOU WILL)
I don't care about what your pastors, Alphas, Imams and Bishops must have told you about failure, i am not still interested in the amount of tithe you pay in the Churches and Mosques, some businesses are meant to fail. Maybe there is something you are not doing right. Although working smart, finding the right people to get the work done and doing more with less are some of the keys to being a successful entrepreneur. Unfortunately, they do not guarantee success. You have to be realistic — not every business will succeed. Sometimes the concept and timing just wasn’t right or the competition was tougher than expecting. Oftentimes, completely unforeseeable situations occur, ruining your forward momentum. You just have to be prepared to fail in a business, but more importantly, do not be afraid of failing.

5. WAKE UP WITH PURPOSE DAILY, AND BE RELENTLESS
One of the largest contributor to the success of an entrepreneur is the fact that they simply did it. They woke up each day working hard until they made it happen. They don't give up, they keep trying. They pushed through, even during some of the difficult times. Tech guru, Steve Jobs once said, “Life can be much broader, once you discover one simple fact, and that is that everything around you that you call life was made up by people that were no smarter than you. And you can change it, you can influence it, you can build your own things that other people can use. Once you learn that, you’ll never be the same again.”

Following all of the steps above won’t guarantee you automatic success, they can help stack the odds in your favor. If you fail this time, you have a good chance to succeed next time. Remember that, every problem has a solution. Just concentrate on what you are good at in the business, and put the right people in place to do the rest for you. You have to make it a habit to do more with less, and focus on working smarter instead of working harder.

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All growing business can use the help of a good local accountant. A good accountant who has a great knowledge about the accounting profession can help you in putting into place a good bookkeeping system. Every single business needs some sort of accounting system for its daily operation, so it’s very important to choose wisely when you want to hire an accountant; otherwise, their finances can get away from them. You should have a system for recording all what you spent, and also if you can expect a profit or loss out of your business in a given period. You also need to remember accounting essentially is the information compiled from a good bookkeeping system in which details are released periodically in the form of profit and loss statements.

A good accountant will regularly measure the profit as well as loss of your business organisation on a monthly, quarterly, and yearly basis depending on how you want it. Some of the statements of account that an accountant will prepare will get somewhat complicated and confusing too. According to so many top professional accountants in New York that we interviewed, apart from profit and loss documents, there can be several other issues such as balances payable, accounts receivable, retained earnings, accelerated depreciation, and several other complex issues.
Although the documents of your accountant may seem quite complicated, they rely mainly on a good basic bookkeeping system. A good bookkeeping system is essentially the process that records every financial transaction that your business organisation performs on a daily basis.

Several people believe that accounting and bookkeeping are the same things which is not true. Bookkeeping is only a small part of accounting, we can say that bookkeeping is the child while accounting is the parent. Bookkeeping will not be relevant without accounting. Many accounting firms employ bookkeepers on their office staff to help maintain your books of account or to advice you on how they would like you to do the bookkeeping if you choose to do it yourself.

A good local accountant prepares his reports based on the information made available to him from the bookkeeper. Bookkeeping covers preparing basic reports that the accountant can use in his many tasks while preparing the account of the business. The bookkeeper will prepare what is known as source documents which include invoice, receipts and other proofs of payment. Source documents keep track of all the basic operations of the business such as the buying and selling, and the paying and collecting. Your accountant collects all the information made available to him by the bookkeeper and periodically turns that information into a profit and loss statement. The statement could be on a monthly or quarterly or fiscal year basis depending on how you as the business owner wants it. A Financial statement will summarize the company’s assets, liabilities, the profitability of the company, and in some cases the projected profits of the company over a period of time.

Furthermore, they will get to know you and your business as well. For a small business, the accountant may often provide the bookkeeping. As a small business owner trying to do your bookkeeping could be a costly mistake since your business is still at the growing stage. If your local accountant can not provide bookkeeping services for your business, he can certainly recommend another accountant that he works with. A good local accountant with vast knowledge about accounting working with you and your business can mean the difference between success and failure especially in the area of your finance.

It is very important to remember that your local accountant is aware of the area your business is in and has had much experience with local businesses in the area. Finance of your business play a big roll in the success of any business, so before setting up your business, make sure finding a quality accountant is one of the first things you

SOURCE: https://www.trendingaccounting.com/2018/10/importance-of-accountant-to-success-of.html?m=1

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Accounting is often an exercise in evaluating choices and making decisions. As a consequence, algebra can be an accountant’s best friend, as you employ a variety of what-if equations to draw up various scenarios, with which a client can arrive at the right decision.
Next, while computer programs can be wonderful tools, strong math skills are important for that all-important “reality check.” What I mean by that is as you see numbers, your mind must be constantly evaluating whether a series of computed results make sense or whether you’re off a digit, some choice you made is sensible, why you are off in a series of formulas, etc.

Something as silly as why don’t these numbers tie, turns out to be a difference of some multiple of nine - meaning you probably reversed digits during data entry (if you typed 36 instead of 63, for example, you will be off by 27 - a multiple of 9, or 57 instead of 75, being off by 18 - also a multiple of 9).

When performing and audit, you cannot evaluate every transaction. Thus, you must use analytical tools such as statistical sampling, building in a margin of error that is acceptable). One would be hard-pressed to use statistics in their work, without strong math skills!
Finally, a client will often call me, while I am not at a computer or calculator and ask me to run a series of numbers to see how much to pay in with extension, project numbers to make a quick purchasing decision on the fly, etc.).

One cannot perform such an important service absent strong math skills. Note of caution: Don’t get into such a telephone conversation, while driving. Even if you have a hands-free device in your car, the level of concentration required is unbelievably distracting. Thus, if you need to answer the question, you first must pull of the road!

Source: https://www.trendingaccounting.com/2018/10/importance-of-mathematics-in-accounting.html?m=1