COMMERCIAL CONTRACTS UNDER NIGERIAN LEGISLATION Introduction A contract is an agreement which is legally binding on the parties to it and which if broken may be enforced by action in court against the party that has broken it. A contract may be void or voidable. A void contract is that which lacks the essential ingredients or elements of valid contract and therefore of no legal effect. A voidable contract is that which is valid in the first place but may be ended at the instance of one of the
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TINTED GLASS ON CARS IMPORTED BY NIGERIANS The Police High Command has observed with concern the unnecessary controversies that have trailed the recent IGP’s announcement on the ban on the indiscriminate use of tinted glasses on vehicles plying Nigerian roads. The Force has observed that one of the issues that has generated so much contention and sometimes endless arguments between Police Officers enforcing the ban on the one hand‚ and motorists on the other hand‚ is the contention by some
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PROJECT PROPOSAL TITLE: ICT AND ACCOUNTING INFORMATION INTRODUCTION: We are in an era referred to as the JET AGE; an era where people are no longer interested in cars; they will prefer to fly‚ why? Basically because it is more comfortable and faster. An era that people will not want to try by guess work‚ everyone wants to be sure of the outcome of their actions. It is a generation that pays attention to speed and accuracy. It is pertinent to account for our resources as humans either as individuals
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E-Accounting. E-accounting is the application of online and Internet technologies to the business accounting function. Similar to e-mail being an electronic version of traditional mail‚ e-accounting is "electronic enablement" of accounting and accounting processes which are more traditionally manual and paper-based. E-accounting involves performing regular accounting functions‚ accounting research and the accounting training and education through various computer based /internet based accounting
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How Accounting Information Systems has Improved Payroll Accounting Abstract Payroll accounting has been greatly improved with the invention of accounting information systems (AIS). The process of payroll is a complicated one that involves many steps. From updating the employee information to printing the checks‚ almost all areas have been improved with the help of AIS. There are many things to keep track of when processing payroll from beginning to end. Many larger companies have turned to outsourcing
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Information System plays an influential role in determining the success of an organisation. The function of the information system is to collect‚ store and process data into information‚ through the assistance of a set of interrelated components. The processed information is later distributed to support decision making in an organisation (Oz‚ 2006). Information system can be decomposed to two main elemental subsystems namely as Accounting Information System (AIS) and Management Information System (MIS)
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Accounting‚ or accountancy‚ is the measurement‚ processing and communication of financial information about economic entities. Accounting‚ which has been called the "language of business"‚ measures the results of an organization ’s economic activities and conveys this information to a variety of users including investors‚ creditors‚ management‚ and regulators. Practitioners of accounting are known as accountants. Accounting can be divided into several fields including financial accounting‚ management
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Success Factor | Formulation of goal | Indicator | Measurement | Methodology | | Financial Perspective | | Revenue growth | To ensure that the Telstra store is constantly growing in financial terms. | Quarterly store revenue growth | Quarterly store revenue growth between 1% and 2% | The store’s revenue should increase at least 1% per quarter. By ensuring fiscal growth‚ the Telstra store will ensure that it is constantly developing and establishing itself as a forefront in Telstra stores
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Government accounting system (SAPP) Government accounting system is a set of procedures‚ both manual and computerized‚ ranging from data collection‚ recording‚ overviewed‚ to report the financial position and financial operations of the central government Government accounting system purpose: 1. Safeguarding asset government to ensure that assets can be maintained through a series of processes of recording‚ processing‚ and financial reporting consistent with the standards 2. Relevance
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Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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