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Personal Finance > Taxes The benefits of Value Added Tax (VAT)

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Introduction As societies move away from agrarian economy to modern and industrialized economies, there is need for the provision of basic infrastructures such as good roads, security, among others to keep the society functioning optimally. To provide these services, funds are needed and this necessitates the imposition o... More..

Creative Writing > Humor Humor: Advantages of a recession

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Can any thing good come out of Nazareth? This was the question asked by sceptical Jews of Jesus when his presence was announced. As I was reclining on my easy chair with junior soundly sleeping on my laps and my wife bustling around in the kitchen trying to get the evening meal ready, I calmly took stock of all that has be... More..

Business > Finance & Insurance Business accounting depreciation methods

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Introduction Fixed assets acquired by business organizations are expected to last for more than one accounting period, and as such, under the matching concept in Accounting, cannot be written off the books in the year of purchase, but rather its cost are apportioned over its expected life span (Nnopu, 2009). This apportionme... More..

Business > Finance & Insurance Bookkeeping: Understanding the double-entry accounting system

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Introduction Businesses, clubs, associations, individuals etc need to know at any particular point in time, their financial status or worth vis-vis their operations. In other words, how efficient are their operations. One way of knowing this is the accurate recording of its transactions. When a business transaction occurs... More..

Business > Finance & Insurance Accrual basis accounting vs. cash basis accounting

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Introduction Business organizations are established to achieve several objectives. One of these objectives is the generation of profits from its activities for the owners, and one of the ways of determining profitability is the preparation of books of accounts. The accounting records of an organization can be prepared... More..

Business > Finance & Insurance Financial accounting versus management accounting

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Introduction Accounting as a profession has really developed over the years. According to Hendriksen (1977), accounting records concepts can be traced as far back as the Roman and Greek periods. And like other professions, such as legal or medical profession, practitioners with time, have tended to focus on specialized f... More..

Michael Nnopu

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Articles Written: 6

Recent articles

1. Business accounting depreciation methods
2. Accrual basis accounting vs. cash basis accounting
3. Financial accounting versus management accounting
4. The benefits of Value Added Tax (VAT)
5. Humor: Advantages of a recession
6. Bookkeeping: Understanding the double-entry accounting system

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