Olamilekan

Dear Accountants I know accounting standards can be a chore to read and digest sometimes To make it easier for us all, I will be sharing weekly pictorial summaries of the relevant accounting standards and some accounting trivia by the side. Stay Tuned!

Success to everyone starting ICAN exams today. You have read, you have prepared, you will be fine!

Term of the day: Revenue Leakage! Let’s break it down! 
Revenue leakage happens when a business loses money it should have earned due to errors, inefficiencies, weak processes, or poor controls. It’s not always theft or fraud, as it’s usually an unintentional/unplanned loss of expected income. 
It’s simply money quietly “slipping through the cracks.” Think of it like a leaking water tank:
You may keep pouring water in, but if there are holes underneath the tank that you are not aware of, you’ll continue to lose water over time. May we not experience wasted efforts 🤲 Businesses experience the same thing with revenue. Common causes of revenue leakage might include: - Incorrect pricing or discounts - Unbilled services or products - Poor inventory tracking - Errors in invoicing - Weak contract management - Customers receiving services without being charged properly Example:
A gym offers a subscription service for ₦5k monthly.
If due to a billing system error, 2k customers continue using the gym without renewals, after expiration of the previous subscription, the company loses: ₦5k × 2k = ₦10m monthly revenue leakage The business is still operating, customers are still using the service, but money that should come in never arrives. 
How then do you detect Revenue leakage? It is usually detected through: - Reconciliations - Internal audits - Data analysis - Process reviews, etc Why it matters: - small leakages become huge losses over time. - it directly reduces profitability and cash flow. - businesses may focus too much on increasing sales while ignoring hidden losses. So as business owners, especially small businesses, you might not have a sales problem, it might simply be a revenue leakage.

@Ogbeni_Mo They will add one big English and plaster it with ridiculous prices Luxury crunchy seafood Akara 30k… lol

Can you see how ridiculous you sound…I should save up and buy 7 pieces of Akara for 22k 🤌🏽 “it’s Lekki own ooo” shebi no be beans dem use make that that of Lekki

I was strictly warned by my doctor sometimes around March that I must not take alcohol again. It actually sounded more like a threat than a warning. One would think I’m an alcoholic, but it’s me drinking Smirnoff or red wine once in a week. Whereas, there are people who drink and smoke heavily and they are fine… at least from the outside. Life is unscripted, it’s really not by our own powers. May God help us.

One of the biggest problems I see when it comes to this topic is that many brands work with influencers who don’t align with the brand they’re trying to build. You sell a premium, family-friendly or professional product, then you go ahead and hand it to an influencer whose online presence represents the complete opposite. Yes, the campaign may trend. Yes, people may see it. But is it reaching the right people? That’s the real question. So for me, I think the major problem is misaligned influencer marketing To get the best campaigns, you need to align the brand, the influencer and the audience. My point is that the influencer you are contracting should already embody the lifestyle, perception and audience your brand is trying to connect with. If this is done, you will sure get visibility to the right audience.

@iamurbanaira @KizzDaniel @omoiyaibeji_ You are a good fit for the role

Hello Kizz Daniel, I would like to express my interest in the Accountant role at #FLYBOYINC. I have a strong professional background in accounting, with experience in financial reporting, compliance, and delivering accurate, value-driven insights. Alongside my finance career, I am also a music artist, with a project titled “ACA Wey Dey Rap” a reflection of my dual identity as a qualified accountant and creative. This unique combination allows me to understand both the financial and artistic sides of the music business, positioning me to contribute beyond traditional accounting functions. Attached is image showing professional qualification as an accountant and creative . I would welcome the opportunity to bring this blend of accounting structure and creativity to your team. Kind regards. Opeyemi aka Urbanaira

Available Roles 1. Label Manager 2. Artist Manager 3. A&R / Creative Lead 4. Marketing & PR Lead 5. Social Media / Content Manager 7. Accountant #FLYBOYINC

You started beefing someone at work just because your friend and the person have issues. Now they have settled, how do you proceed from here?

@Holuwapelumijk @_BamBam001 Congratulations 🎉

Finally….ACA I worked for it, and this one, I earned it…. Deservedly!!!!

@deremyh It’s a slang for someone who grew up poor… with little to no financial privilege

@_financeintel Please, what's Lapo baby?

Let’s have some serious conversation How can a Lapo baby make generational wealth in this present world

@tkb417 When you put it this way, it looks like one is greedy or something… lol

what do u need generational wealth for? u need money and comfort to afford the good things of life for u and immediate family Education is ur surest bet

@damilola__Kay Congratulations

Cheers ACA Damilola Kayode You passed all five Ican professional exam papers at once. You were 20 years old♥️🥹then you waited until now to induct! You are 24 years now! God is good!🥳 Congratulations to me! #aca

@harriejons Congratulations 🎉

Reintroducing myself Harriet Erdoo Tindi ACA Dreams are valid 💯 #ICAN #Mayinduction

Please schedule a reminder for the next IFRS Townhall, we’ll be having our amiable guest @decency11 who’ll be rubbing minds to start our Financial instrument series. twitter.com/i/spaces/1nJOL… It promises to be educating as usual. @holerdhyran1 @hedrees_ayinde @kaeptiveitin

I have not made generational wealth yet but I have definitely escaped poverty. As a Lapo baby, your best bet is still education. Myself and those I know escaped via the following route. -Studied courses like Medicine, Nursing, STEM courses, Accounting. -Got good grades -Got good jobs/ Relocate abroad via work or scholarship. A lot of Lapo babies I know escaped via this process.

@abalu_uthman Thank you for sharing

Tested and proven strategies to land your next client next week. Would you implement this? Would you?

@jannygel Congratulations 🎉

Grateful to God as I become a member of the Institute of Chartered Accountants in England and Wales(ICAEW) It's a privilege to hold the double ACA title ACA 🇳🇬 ACA 🇬🇧

The way induction fees will skyrocket enh

@Mr_Sprime Congratulations 🎉

Long Overdue Induction on Thursday ☺️ Na LLB and BL remain like this