Business is like a car on a journey. Before the driver sets out, she should check if she is ready for the trip. As she drives, she should also check things like her speed, tyre pressure, engine temperature and fuel on her car’s dashboard.
My Trip To Work As A Business
On an average day here are the stats of my daily trip to the office:
- Distance: ~20 KM.
- Time: ~30 minutes by Car
- Fuel: ~1.5–2 litres of Petrol
- Tyre Pressure: ~34–38 psi
Before each trip, I ask myself — Do I have enough petrol for…
Humans have always been a curious creative species, never shying away from finding new ways of doing things. Since the early 1800s, whenever mankind discovered or invented technology that significantly changed how things are made at Industrial scale, it was called an Industrial Revolution.
The First Industrial Revolution is associated with the Steam Engine and other important inventions created in the 1760s. These innovations created the first giant strides in mechanisation of production and agriculture and lasted until 1830s. The Second Industrial Revolution sparked from the mid-1800s was created when electricity, gas and oils were used to greatly improve the…
COVID-19: Important Accounting Considerations for Businesses
This is the second of a two-part article looking at how COVID-19 will affect the accounting of Business. Have a look at Part I for background. If your business currently issues annual financial statements, then this is for you. Alternatively, if you are thinking of beginning to prepare and issue financial statements (you should), this piece is also for you.
Contracts with Onerous Provisions owing to COVID-19
These are contracts you have entered into legally but find it difficult or impossible to deliver on because they have become uneconomical when compared to the benefits…
This is the first of a two-part article looking at how COVID-19 will affect the accounting of Businesses of all sizes. If your business currently issues annual financial statements, then this is for you. Alternatively, if you are thinking of beginning to prepare and issue financial statements (you should), this piece is also for you.
COVID-19 is a global event no one saw coming. It was very difficult to prepare for this (except you are the smart kid at Wimbledonor the finance team at PEMEX) as such, the Business community is scrambling first to survive and then to assess…
I was inspired to write on this piece immediately after the 2020 Aret Adams lecture earlier in March on the same topic. Then COVID-19 “Coronavirus” happened bigly — swiftly followed by the Oil Price Kamikaze offensive by Saudi Arabia on Russia and US Shale producers. I had to change direction — but the message is the same, only reinforced strongly by recent events. The message? Nigeria simply cannot remain the same and must change — very quickly. According to Bloomberg, Nigeria depends on oil for 60% of fiscal revenue and 90% of foreign exchange. The price determined by the new…
10 steps towards entering the new year with confidence and direction
As a Business owner or Manager, it is easy to get sucked into the survival cycle. As my dad would say, from good morning to good night, you are in a constant battle just to stand still — and if you’re lucky, you make a little bit of money. Then at the end of the year, many businesses will frantically prepare for Christmas and New Year celebrations — only to start 2020 … without a plan.
Then we do this survival thing all over again…
I sleepily checked my phone at circa 1.45am. A friend on Screen Junkies– our Movie & TV Shows WhatsApp group — posted an update that the elections were being postponed. Another friend shot back “Fake News”. In Nigeria, there’s no smoke without fire. So, I launched twitter, checked the trending stories where there were claims and counterclaims of a postponement. Then it was confirmed by the @inecnigeria handle. The 2019 Presidential Elections had been postponed by 1 week — based on logistics.
What next for the Nigerian Ministerial Team?
Nigerians were caught up in almost rapt awe as we waited and waited (and waited some more) for the announcement and subsequent screening of Ministerial nominees. Social media followed. First there was #Ministeriallist and then came #Ministerialscreening and finally #Ministerialswearingin. It’s not the first time Nigeria has ever appointed Ministers, but never have the eyes of the nation been this fastened to their screens over that 3 week period. The saga climaxed there was the crescendo of their swearing in. The movie is over and we can now go back to normalcy.
The Pen is Mightier than the Sword