Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,077 members, 7,977,113 topics. Date: Wednesday, 16 October 2024 at 08:00 PM |
Nairaland Forum / Nairaland / General / Business / Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business (648 Views)
Please Your Business Suggestion Or Advise Is Needed / Help On Hiring A Sales Boy/sales Girl / INDITEX SHARES TUMBLE AFTER ANALSYT CUT TARGETS (2) (3) (4)
Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 7:30am On Nov 04, 2020 |
.. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Oluwahelpme(m): 7:45am On Nov 04, 2020 |
I always tell people that running business is not meant for everybody. But will they listen? No. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 12:35pm On Nov 06, 2020 |
Oluwahelpme: Any advice? |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Oluwahelpme(m): 9:53pm On Nov 06, 2020 |
WrathJustified:Where is the location? |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 10:55pm On Nov 06, 2020 |
Oluwahelpme:Lagos mainland |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Johnrake69: 11:14pm On Nov 06, 2020 |
WrathJustified: I can help if you're in Lagos. Will do it pro bono. You only take care of personal expenses that might arise in the course of getting the job done. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 12:01am On Nov 07, 2020 |
Johnrake69: Wow, really. Thanks. God bless you. Let me PM you so we talk better and understand your offer/generosity better. Just sent a PM now |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Johnrake69: 12:04am On Nov 07, 2020 |
WrathJustified:0.9.0.315.99840. You can chat me on whatsapp |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Oluwahelpme(m): 5:18am On Nov 07, 2020 |
WrathJustified:Owned or rented building? |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 7:43am On Nov 07, 2020 |
Johnrake69:Thanks, Just sent you a whatsapp message |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 7:43am On Nov 07, 2020 |
Oluwahelpme:Rented building |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Oluwahelpme(m): 7:52am On Nov 07, 2020 |
WrathJustified:Problems started here. Rented building is not too good for school business. U want to pay rent, pay ur staffs, school bus maintenance, payment of electricity bill etc. What is the students population? Are they able to pay school fee? All these need to be considered. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 8:49am On Nov 07, 2020 |
Oluwahelpme:yh, some pupils not paying school fee on time is an issue as well as unnecessary expenses |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by Oluwahelpme(m): 4:38pm On Nov 07, 2020 |
WrathJustified:Mention those unnecessary expenses. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by SavageResponse(m): 11:31pm On Nov 13, 2020 |
WrathJustified: I hope you have been able to resolve the issue |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by WrathJustified: 3:41pm On Nov 20, 2020 |
SavageResponse:No. |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by SavageResponse(m): 12:05am On Nov 24, 2020 |
WrathJustified: The fact that the business is in huge debt may not necessarily be as a result of mismanagement, it could just be because of the harsh economic situation in the country occassioned by the lock period schools were on lockdown. You first step would be to determine if the business is even profitable. here is what you will do: Compute all the revenue Get a list of all the pupils in all the classes and multiply the number by the tuition fees for each class Primary 1 =Number of pupils x School fees for that class - Bleep Primary 2 =Number of pupils x School fees for that class - Bleep Primary 3 =Number of pupils x School fees for that class - Bleep Primary 4 =Number of pupils x School fees for that class - Bleep Primary 5 =Number of pupils x School fees for that class - Bleep Primary 6 =Number of pupils x School fees for that class - Bleep ------- Total xxxxx ------- After this you compute the revenue from other sources Sale of school uniforms Sale of text books Payment for school bus Next you compute the expenses Salaries of teachers Rent for school building Salaries of gateman, school bu driver, cleaners etc Expenses for sewing of school uniforms to be sold to pupils, purchase of books Fuel costs for school bus and generator (if available) Electricity bill, water rates Sundry expenses (This includes all expenses incurred in running the school Interest charges for bank loans The total revenue subtract the total expenses will tell you if the business is even making a profit or not When you're done with this the next step will be for you to do what is called revenue assurance this means conducting a confirmatory test to be sure that the revenue (in this case school fees and all the other takings) actually enter the coffers of the school. To do this you need to conduct what is called a walkthrough test Go to the register in each class and select 15 random names or a sample that makes up at least 40% of the population in that class, determine the school fees these pupils should pay then try and trace their payments to the bank statement for the schools bank account. If you cannot find evidence of payment of complete school fees by those pupils then it means that either those students are owing school fees or they have paid but someone is diverting the money into his/her private pocket. This guideline I have given you is a rough sketch but it should help you get the answers you seek. Only your mum should know what you intend doing but you also need to be very careful about what you eat in the school during such exercise, people get poisoned especially if there was massive fraud in the system! |
Re: Help On Hiring Financial Analsyt To Help Audit Or Advise My Parent's Business by ATTAHDYE(m): 9:56am On Nov 24, 2020 |
Is this still open? I can do the analysis for you at a fee. By the end of the day you will get a true picture of where the school stands finacially, identify cost centers, revenue streams and recommendation for the way forward. Contact 08063813348. |
(1) (Reply)
Justin Emeka Obiorah Is An Example Why Tech Developers Have A Tough Time In NG / What Physical Product Can I Sell This Festive Season / Iphone 6splus 64GB Needed Urgently
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 39 |