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Andrew Othuke Akpeli 
Definition and Explanation The book in which accounts are maintained is called a ledger. Generally, one account is open on each page of this book, but if transactions relating to a particular account are numerous, it may extend to more than one page. Ledger is known as the destination of entries in journal but it … Read more
Description: Students find themselves stuck with home assignments on a regular basis. Check out the main options to get help with homework offered in the article. Who Can Help Students with Homework? We all know that students commonly face a lot of impediments. Sometimes even non-academic reasons lead to academic failure. Many students cannot cope … Read more
What are books of original entry? Books of original entry are where transactions are first entered into the system; from these books the entries are then transferred into the ledger account. The main books of original entry are: Sales Day Book: It records the day to day sales invoices to customers and VAT amount. Sales … Read more
A double entry principle states that for every debit entry there must be a corresponding credit entry. This is the major reason why its ledger account has both a debit and credit side. Each firm keeping books must have a debit and credit recorded at the time the transaction take place. Therefore the double entry … Read more
Definition and Explanation of Revenue Expenditures Revenue expenditures are expenses which are incurred in the day to day conduct and administration of business and the effect which is completely exhausted within the current accounting year. These expenditures are recurrent by nature i.e. which are incurred for meeting day to day requirement of a business and … Read more
Historical Perspective of Accounting In 1494, an Italian Monks and Mathematicians by name “Luca Pacioil” was the first to lay the foundation of the Double entry principle. This was done in his book title “Summa de Arithmetical Geometria et proportionalita”. The book contained a section on double entry principle. In 1504, a section of the … Read more
The non-bank financial institutions also known as other financial institutions are those institutions apart from banks that help to perform the role of financial intermediation. They collect funds from the surplus unit under various tithes, and go ahead to make funds available to the investors who have need for such funds. These institutions are as … Read more
Bank services are divided into two: Corporate Services of Banks Capital Market operation: Company flotation and rotation, breakage activities registrars of company and trustees, issuing house activities Mergers and acquisitions Re-organisation and turn around operation Capital restructuring Project financing Investment Management Portfolio Investment trust Unit trust Loan syndication Debt factoring Banking Services Includes Acceptances of … Read more
Commercial Bank balance sheet structure This represents a statement of the financial position of the bank on a given date. It contains information relating to the Bank asset holding, liabilities and owner supplied capital, asset represents the resources used by the bank. The liabilities and owner’s equity indicate how those resources are financed. Example of … Read more
The Central Bank of Nigeria The central bank of Nigeria is the principal regulator and supervision of the entire Nigerian financial system. It establishment dates back to 1958 under the CBN act of 1958 and started operation in 1st July 1959. It establishment came as a result of nationalism. Before its establishment the role of … Read more
Money is defined as anything that is generally accepted as a medium of exchange (i.e. means of transferring ownership of goods and services from one person to the other) Origin of Money Money has a long history; various items have been used as money at different period and in different places, e.g. shells, animals, elephant … Read more
Settlement is defined as an agreement obligating the department of juvenile justice (DJJ) to expand fund to discharge a debt due a person, entity, or group of persons when the amount owed pursuant to a dispute relating to a contract or purchase order, or as a result of another form of indebtedness. Claim settlement involves … Read more
Reinsurance is a means by which insurance company can protect itself with other insurance companies against the risk of losses, individuals and corporations obtain insurance policies to provide protection for various risks (hurricanes, earthquakes collisions, sickness and death etc.) reinsurers in turn provide insurance companies. The company, requesting the cover is called the cedant and … Read more
Marine Insurance This kind of insurance consists of insurance cover for both ships and goods against the perils of the sea. They relate to three special areas of risk namely Ship Insurance Cargo Insurance Fright Insurance Ship Insurance: Here the ship owner takes up a policy to cover him against loss of the ship and … Read more
Insurance policy is the contract containing insurance contract it is not contract on its own rather it is the documented contract. Insurance can be said to be a risk bearing institution and they carry out this work through documented contracts that can expire after and agreed period of time. By this period of time of … Read more
Insurance has 6 principles. These are as follows: The principle of proximate cause The principle of utmost good faith The principle of insurable interest The principle of indemnity The principle of subrogation The principle of contribution The Principle of Proximate Cause Proximate cause simply means the factor responsible for any harm. Throughout the history of … Read more
Insurance plays a vital role in the development of the Nigerian economy and in recent years especially since the establishment of the Nigerian Reinsurance Corporation and the African Reinsurance Corporation Center for African and to some extent for the entire insurance world. In addition to its traditional role of giving insurance protection cover to individuals … Read more
Rather than going straight to insurance companies to arrange for their services, a company may decide to use intermediaries called insurance brokers. The advantages of using such professional insurance brokers and claims consultant are many. Brokers ensure that all the format technical terms and conditions embody in every contract of insurance being prepared are strictly … Read more
Description: A lot of students attend college after high school. Check out the main benefits of why not going to college is actually a good idea. Meet the Key Benefits of Not Earning a College Degree Let’s face it – the majority of students attend college only because they think this is the step that … Read more
As was stated until quite recently, there was little government control of the business of insurance. This freedom was abused by some unscrupulous elements that had found their way into the insurance industry. The government found it necessary as a matter of policy to introduce in general stringent controls of activities of insurance companies to … Read more
Insurance as a business has a lot to offer to the insured and to the economy in general. Insurance is the only business that exists to insure the survival of all other business including banks and financial houses. This is because the insurance company promises to indemnify a businessman if his or her business suffers … Read more
Risk is an inevitable phenomenon in everyday life, be it in the home, along the road, in the office or while accomplishing one activity or the other, one is faced with a named period depending on the nature of the activity. The question that should agitate the mind of any person, investor or business promoter … Read more
Watson and Basina (2020) define diabetes mellitus (commonly known as diabetes), as a metabolic disease that causes high blood sugar. The hormone insulin moves sugar from the blood into your cells to be stored or used for energy. With diabetes, your body either doesn’t make enough insulin or can’t effectively use the insulin it does … Read more
Dangote Group is one of Nigeria’s most diversified business conglomerates with a hard – earned reputation for excellent business practices and products’ quality with its operational headquarters in the bustling metropolis of Lagos, Nigeria in West Africa. We are recruiting to fill the position below: Job Title: HR Shared Services Officer Location: Lagos Employment Type: … Read more