Introduction It is a routine for the Central Bank of Nigeria (CBN) to review rates from time to time; this is not an anomaly – it is best that I establish this fact so that it does not seem like what the CBN has done is unusual. However, this is the first time that rates […]
Impact of the CBN’s Reviewed Interest Rates on MSMEs Read More »
Seyi and Sewa are partners in the consulting business and have been doing business for more than ten (10) years but were recently confronted with a decision to submit their financials for three years to qualify for consideration for a government project. They were alarmed to know that they had previously not kept proper records
The Importance of Policy Documentation Read More »
You would recall the article on product/service pricing and I hope it is helpful for you in determining the best price for your products/services. It is possible that after determining an appropriate price, you are unable to sell at that price because of the environment, economic situation, demography, social class, user/buyer preference amongst other reasons.
When is it Safe for a Temporary Distress Price? Read More »
So, the past year ended financially happily for your firm. Your profit after tax was a significant sum and you’re wondering what to do with it. Even if this scenario isn’t your reality, perhaps, the profit isn’t significant, or there’s no profit at all, imagine a time when you’ll have overflowing profit. Wouldn’t you like
Invest your Profits in these 5 Money Yielding Opportunities Read More »
Determining the price for your products is often a challenging one. As an entrepreneur, you continuously ask yourself and others who care to listen; “how much should I charge?” Making pricing decisions worse are the intrigues of rising prices (inflation), unstable and largely unpredictable foreign exchange (FOREX) fluctuations. Without the aforementioned complexities, price fixing is
How to Determine the Price for your Products Read More »
I start by highlighting that while Accounting and Finance share a thin line, it has been argued that Finance is an element or a subset of Accounting. However, their ends are the same – provision of information and insights to enhance decision-making. C-suite execs are appointed/selected based on academic and professional qualifications, exposure, and experience
How to Choose your CFO Wisely Read More »
PROPER ACCOUNTING SYSTEM RE…
Importance of Proper Accounting Systems Read More »
The National Health Insurance Authority Act (NHIA), 2022, was signed into law in May 2022 by President Muhammadu Buhari. The NHIA repeals the National Health Insurance Scheme (NHIS) Act. The new Act makes health insurance compulsory for all public and private sector organisations employing at least five staff. Informal sector workers and Nigerian residents come
Understanding the National Health Insurance Authority Act, 2022 Read More »
A critical component of your business plan is a strategy for managing your company’s operations. A comprehensive financial plan needs to answer the following questions: Strategy Describe how you will fund and grow your company Financial projections Income for 3-5 years Balance sheet Cash flow Breakeven analysis Sensitivity analysis Assumptions – revenue forecast, cost of
How to Develop a Financial Plan Read More »
According to a report published by the World Bank, it was observed that while Small and Medium Enterprises (SMEs) create 7 out of 10 jobs in emerging markets, access to finance has remained a key constraint to SME growth. The Report noted that access to finance is one of the most cited obstacles facing SMEs to
Key Factors that Hinder SME Growth Read More »
