Olajuwon Patrick Olaleye MBA ACA ACTI

 ACCOUNTING AS AN INFORMATION SYSTEM Every individual or group in  the society must make economic decision concerning the future.The future though is uncertain but efforts must made to forcast its possible outcome rather than sitting on the fence. For instance, the Manager of a company needs to know which product or section within the organization is not performing as expected. With this information the management can take  decision on how best to manage the product or this section of the organization. Other stakeholders, other than the management also requires Accounting information for decision making, the regulatory authorities, the various tiers of government, investors competitors, industrial regulators and other interest group within and outside the organization. Of recent the demand for accounting information is on the rise, investors, government, non governmental organisation. Every sector within the economy irrespective of the profession, needs this important inf...

 Becoming my enemy's best friend; Steven Gerald Imagine denying me happiness on my day of joy, there after you invited me to solve your problem or how best do I described this supposed relationship that we have just consummated. On the day I am supposed to bid my darling club "the read devil" farewell  and thank them for accommodating me, you came from behind to steal my show with your 2- 1 win at Wembley, and 7 years after you deem me fit to be the one that will solve your problem. Quite good and kind,. God helping me I will. That sounds like the relationship between the new coach of Aston villa and his new found team. Steve was a big dilema for Aston Villa in his playing days with the red devil scoring 17 times against his new found team having played for 27 times. However at the final of year 2014/15 FA cup final, Steven's celebration was cut short by the club he had messmerized for years. The match supposed be his last for Liverpool having played for the club for ...

 The Statement of Cash Flows You must have heard of Income statement (Profit and loss account), the statement of Assets and liabilities ( Balance sheet) and the statement stockholders' equity. Each of this statement is useful in it's own specific ways. The balance sheet show at glance how management had utilised the organization resources in Assets and how those assets are financed by owners equity and liabilities. The income statement on the other hand report how much net income a firm earned during the accounting period under review. The third being a statement of stockholders' equity shows changes in the status of the ownership of a business during the accounting period, including the cumulative income retained in the business. These financial statements are useful, but there are important questions that they do not answered. The questions are:  1. Does the business generate enough money to pay it's dividends? 2. If a company make loss during the year does it generat...