Esther Menua needed N15 million to expand her small grocery store in Lagos. She went to a tier-two commercial bank but was asked to provide a plot of land valued at N25 million. The bank worker who attended to her also informed her that the cost of the loan was 23 percent per annum, and she must pay back in 12 months.
Bubblegum was invented by an accountant, Walter Diemar in 1928. It was bright pink in colour because that was the only dye he had to hand at the time. It was accountants who brought down Chicago crime boss Al Capone. …
When performing a bank reconciliation, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps to catch and identify any unusual transactions that might be caused by fraud or accounting errors, …
How Bank Reconciliation Works and Why It Is Important Read more »