THE MONEY CORNER

It is a norm for students to be taught that Land does not depreciate in the accounting field. However, there are cases where land could be depreciated. If you remember, or perhaps, you are not aware, there are four factors of production, namely: • Land • Labour • Capital • Entrepreneur Land as we know, is a free gift of nature (although you still have to pay for it). It is subject to diminishing returns, that means, land depreciates. It could depreciate by means of flood, erosion, or any other means. Land may not also be 'just the ground', but also resources obtainable from them. Despite the fact that Land depreciates, it is 'in most cases', not taken into account. I may not be right, but I believe it is because the value of depreciation cannot be ascertained and also because not all Lands may come in contact with adverse conditions that make them depreciate, or depreciation of land rarely occurs. For the fact that it is 'subject to', does not mean it de...

Self-smart - How well do you know yourself? How well do you understand your emotions? Emotional Intelligence is concerned with self-awareness, self-regulation, self-motivation, empathy and the ability to influence others. According to Daniel Coleman's theory, success in business depends on emotional intelligence rather than academic learning.  People with Emotional Intelligence are self-aware, self-regulated and self-motivated. They are sensitive to other's feelings and have the ability to influence people. Emotions are generally feelings, which cannot be seen or touched. You feel them. Emotional Intelligence is a ladder of your ability to deal with emotions and also use them. The ladder starts from self-awareness to self-regulation to self-motivation to empathy to your influence on others. Emotional Intelligence is a quality every leader must have. It is a quality every individual who wants to be relevant must have. • Self-awareness To be self-aware means that you know how y...

Be school smart, office smart and street smart   If you need to survive in the money industry, you have to be smart. No one needs to tell you how important it is to be smart. It makes more sense when you're school smart, office smart and street smart at the same time.   School Smart This explains how smart you can/should be in an academic setting or environment. It answers questions like, "How do you read/study? How well do you plan your time? How do you answer test and exam questions? How do you cope with extra-curricular activities?" and the likes.   It is not just about reading, reading, reading, or books, books, books. Of course, reading and books pay a lot, except if you're smart about it. It is not how much you read, but how smart you read. I am a student, and I believe a good number of my readers are students.   Being school smart is beyond the books, classes and academic related activities. The school environment has opportunities for explor...

In this digital and information era, the relevance of technology in the money industry (Accounting, Business, Finance, and the likes) cannot be overemphasised. Systems are being updated every day; things are improved on, on a daily basis; technology is taking steps into the future. Technology proves relevant in financial reporting, using accounting packages (Peachtree, sage 50, and the likes). It is also relevant in areas of performance management/measurement in manufacturing industries. Technology is used to create systems of controls to monitor inventory and other forms of working capital. One of the demands of every employer from personnel in the money industry is ICT skills , proficiency in using Office packages (MS word, Excel, PowerPoint…). Of course, we cannot but say, it is a must-learn, even when the educational system does not implement it thoroughly. The educational sector may try its bits, but it’s never enough to meet the demands of the labour market. It is however ...

Some weeks ago, I was going through some old newspapers; they are about 7 years old. I was looking for essays, articles and treasures lying in those papers - The information there could still be useful today, I thought. While browsing through the papers, the course of my search changed and I started looking for one type of information. Guess what? Employment/job opportunities and vacancies. Well, I was not looking for opportunities to work, but the criteria the employers used to employ people, their requirements and all. As I browsed through each vacancy and job opportunity, I could sense some similarity in what employers needed and required from their potential employees. I was able to come up with some of the skills required of job seekers. Some of them included, Of course, school degrees and certifications, language proficiency, team work, ICT skills, leadership qualities, analytical and problem solving skills, proficiency in the use of software packages, and many more. I tho...

© THE MONEY CORNER 2020 45 Fully-funded Global Opportunities - with deadlines in January 2020! The new year is upon us, how exciting! We are back with our mega list of global opportunities you should bookmark and apply to this January. Some deadlines are closer, so hurry! Click on the links below to get more information about deadline, eligibility and how to apply. 1. Rice Business Plan Competition 2020 for Student Startups (Up to $1.5 Million in prizes) Details:  http://bit.ly/2SAzG2i 2. One Young World Lead2030 Challenge ($500k in funding plus mentorship) Details:  http://bit.ly/33LPG4x 3. Google for Startups Sustainable Development Goals Accelerator 2020 Details:  http://bit.ly/2Q8ioqF 4. Dalai Lama Fellows Program for Emerging Leaders 2020 Details:  http://bit.ly/32zvtgR 5. Charity Entrepreneurship Incubation Program 2020 (Fully-funded to London and $100,000 seed funding) Details:  http://bit.ly/37C9k4z 6. SDGs & Her Competition 2020 ...