gobuchinny:


Leave the jew man..em no sabi anything..economics sef em no know..dey talk amortization and depreciation for where land dey ..such boldness in ignorance

And you wen talk say land and building follow for intangible asset shey na you sabi something?
Dey dere make you dey speculate like say church dey born pikin?

gobuchinny:


This is a very ignorant post..y r you acting like Oyedepo is doing Nigeria a favour? don't you know the person that benefits most from this is Oyedepo? is the school free? is the school subsidised?

This a business like any other business..i know because my family owns a school in Lagos that generates million every quarter...what is all this rubbish like we should clap that a great thing has been done..

These schools are built with tithe and offerings of the people and privatised to personal business and you are here talking like a great thing was done..should we clap for him

Haters you will just kill yourself.
If you die, U die for nothing.
Your people are using their money to buy bullets for boko haram to kill innocent souls.
Just go and sleep, if you can not appreciate good thing.
This is what government supposed to do.
God bless Bishop David Oyedepo.

1Sharon:


The government pays for it through the taxes ppl pay.

But as I said before, don't even try to compare paying taxes to paying the full amount for a service. A disadvantaged person in the UK can get a house funded by the government and get money paid to their account without needing to hustle.

So tell me again how this school helps the ppl of Nigeria? Majority can't afford it. So dont try to imply what this pastor did wasn't a disservice, you and that other fool

Who pays tax to the govt?

gobuchinny:


See your life...are the members not being taxed in the church? y isn't it free for the members atleast..lets forget non members...even the so called subsidy sef the members cannot afford...besides they have quota for scholarships for members which is a very small lot and is highly politicised as a typical Nigerian enterprise..

And how do I know all these..i was a die hard member before I was liberated

If you find any FA with less than 80% winner's members children I will give you 10k.

gobuchinny:


You are ignorant sir and don't read between the lines..how can a school building appreciate?did you really ask me that...hmmm...are school biuldings not real estates? don't you know that real estate always appreciates?

The value of Government school in 2006 is it the same value now? do you know that in Lagos state Government balance sheets the properties will appear as fixed assets which culminates to profitability?

Y do you think people buy houses or build estates and put for rent? do you think its because they wanna make the principal back? you are not exposed and not financially equipped to comprehend..do you have a building of your own? if you do then you will understand my points..

But you have been brainwashed

Its like money laundering bro..when you have so much cash you buy fixed assets to convert the money to fixed assets which in turn generates liability..you really dont care to make your principal invested but all you want is that your principal is secured and no better way to secure same than through treasury bills/bonds and real estate...

but you will never comprehend because you lack business acumen and are very limited to your pettiness

Why did you reply that guy. Man doenst even understand how people make money through real estate but he had the effrontery to say your brain is liquid. Nairalanders are amazing.

hoodedjaystrim:
Scam secondary School

Kikikiki

RALPHOW:

Hate will just kill you!

My money is not there

#No hate

CodeTemplar:
Who pays tax to the govt?

Ppl who have a taxable income

gobuchinny:


See your life...are the members not being taxed in the church? y isn't it free for the members atleast..lets forget non members...even the so called subsidy sef the members cannot afford...besides they have quota for scholarships for members which is a very small lot and is highly politicised as a typical Nigerian enterprise..

And how do I know all these..i was a die hard member before I was liberated

See your brain also . . . . dont govt collect tax? why cant all Nigerians afford govt schools? Can all citizens afford your non-existent school in virtual Lagos?

@bold, tax how?

contigiency:
Reading the article, the writer seems to suggest that people are against the church from contributing to education. No. What people are actually saying is that almost all the schools built by the churches in Nigeria are exclusively reserved for the rich. Because, about 90% of the followers can't afford the fees being charged. Whereas, when the missionaries brought us education among other things, their aim was to reach out to the poor, as against what is being practised today which takes to the rich instead.

If you can locate any FA with less than 80% Winner's members, U win 10k.
LFC is call the church of the rich!
Like it or not Oyedepo is sent by God to make us rich.

RALPHOW:


If you find any FA with less than 80% winner's members children I will give you 10k.

Truelly faith academy is more affordable I beleive as i dont have much details on their fees..my issue is with CU as i am privy to the cost and the population spread of the students...you find alotta muslims, children of politicians, the rich and also their members but that school was not built with the members in mind.

how much is the school fees

.

gobuchinny:


Im not speculating but im certain of the profitablity of all Oyedepos schools

I have told you this over and over again the aim is not to recover the cost of purchase of land or real estate..d aim is to have current assets in form of receivables ..and allow the land appreciate over the years..

Y cant you google if land and building is intangible assets or not ...must I spoon feed you that's how you guys don't study your bibles but allow these thieves to keep feeding you nonsense every sunday to fleece you and buy businesses in their names while you guys remain poor

Infact its easy for Oyedepo because he didn't dip his hands into his family treasury to buy the land..its free money that never left his balance sheets but left the sheeples balance sheet..its just like yahoo yahoo..free money las las dey remove cost of internet and other miscellenous but by and by its free money

You talk nonsense shamelessly. It show delusion and hatred.

I gave you a concrete example of the newly built FA in Delta State and showed your speculating @ss why they cant recover cost of construction alone in two decades but you conveniently ignored that and continued with your speculation.

You are talking more rubbish. Sample you school if it exist let's compare it to one of the FA by fees paid, services rendered, stafff salary, population, and capital. You wouldn't because you know I will expose you conclusively with that.

CodeTemplar:
See your brain also . . . . dont govt collect tax? why cant all Nigerians afford govt schools? Can all citizens afford your non-existent school in virtual Lagos?

@bold, tax how?

Tithes noni


Is going to church free?

Donkunxex:
A lot of people really need to read the book "rich dad poor dad" y'all need to understand income flow , expenses, assets and liabilities. Jesus christ. Rich dad poor dad is an entry level book. Too much educated illiterates in this thread.

The early missionaries who no longer make schools free should read it first then I will take you serious.

gobuchinny:


Truelly faith academy is more affordable I beleive as i dont have much details on their fees..my issue is with CU as i am privy to the cost and the population spread of the students...you find alotta muslims, children of politicians, the rich and also their members but that school was not built with the members in mind.

You again!

CodeTemplar:
See your brain also . . . . dont govt collect tax? why cant all Nigerians afford govt schools? Can all citizens afford your non-existent school in virtual Lagos?

@bold, tax how?

Bros you see ehen..if I break down you stupidity from this post alone..even you sef no go believe how stupid you r..

Nigeria's case is simply hinged on kwaruption..infact forget the taxes..the revenue from crude oil is enough to provide free basic educations for the citizen so lets not even talk about Nigeria and if you want to use Nigeria's inadequacy to compare y ur papa wont do free schools for members then be my guest..it will invariable mean your papa is kwarupt like Nigeria ..where you find selfish politicans cornering the commonwealth of a nation...now those that sound fimilar to you..Oyedepo cornering the commonwealth of the church for his personal gains

BTW Nigeria with all its flaws has subsidized education at the primary secondary and even tertiary levels and can be afforded by a braoder spectrum of the citizenry unlike you papa`s business..so whats your point again?

1Sharon:


Tithes noni


Is going to church free?

church is not like shrine.

CodeTemplar:
church is not like shrine.

Do shrines tell you you're going to hell if you don't pay?

CodeTemplar:
Low IQ indeed, is Land and Building same thing to you?
Why aren't govt school appreciating? Research the accounting concept called amortization and depreciation to cure you ignorance instead of fo.oling around endlessly.

Oga stop chatting about something you don't know shit about. And for your information, this my friend is my profession.

So, for your information, those schools are publicly owned property, but even if the government choses to privatise them, if it had cost the govt, 30k Naira to acquire the plots in 1970, (although today the Land Use Act, 1978 would have been used to get the plots) a private company will acquire same for 30k in 2019?

Please make una dey apply small common sense.

1Sharon:



Ppl who have a taxable income

So is it still free now that u admit they take from the people and give to them again?
Then if the govt covers free education for all, why do people still take huge loans in UK to fund college education and pay during their earning period after graduation? Iit shows very few people enjoy free education and fyi, winners gives scholarship to the poor but not all because it will affect their purse and the school standard

CodeTemplar:
You talk nonsense shamelessly. It show delusion and hatred.

I gave you a concrete example of the newly built FA in Delta State and showed your speculating @ss why they cant recover cost of construction alone in two decades but you conveniently ignored that and continued with your speculation.

You are talking more rubbish. Sample you school if it exist let's compare it to one of the FA by fees paid, services rendered, stafff salary, population, and capital. You wouldn't because you know I will expose you conclusively with that.

You are irredeemable..an educated illiterate who has refused to gain knowledge...expose me how??first you dare talk of amortization and depression with land and you expect to understand the business of real estate?

Your ignorance is bliss..please educate yourself and if you are in Lagos, Ogba to be precise, you can hit me up..i will take you on a tour of our school..built on sweat and real money not fraudulent monies from the commonwealth privatized to personal gains..its not a big school but very decent and caters to the needs of the community which we are paid for..now should the community thank me for providing a service im being paid for

The bolded is very funny...you are constantly exposing your ignorance and illetracy to any well informed reader on this thread by thinking of how to recover cost of construction or real estate from a long term investment

Clowns everywhere

CodeTemplar:
So is it still free now that u admit they take from the people and give to them again?
Then if the govt covers free education for all, why do they take huge loans in UK and pay during their earning period after graduation?

Don't even try it. Taking taxes from ppl and returning it to them in the form of free services is nothing like paying for the service completely.

Primary and secondary is free. University education in Scotland is free.

[quote author=gobuchinny post=76285817]

You are too ignorant and not business minded..do you know that business are in two folds..one the fees which brings incomes and also real estate..do you know the history of most FMCGs? its about real estate...Banks, FMCGs, industries are all into real estate..any good business man wants to own the building and also make the money while the property appreciates ;Dthese group of schools are money spinners for the Oyedepo dynasty while the real estate appreciates over time..

My families school building was bought at 5m per plot for 2 plots in 2005..now current valuation stands at 35m per plot that 10m for 2 plots to 70m OMV..

You don't understand business if you think buying a school premises is all about making the money back in form of liquid cash ..besides the money will be made back eventually over the years..

Furthermore, remember its free money for Oyedepo..monies made from donations that he never worked for..unlike my family that bought the 10m property from my father gratuity

Oyedepo doesn't need to make the money spent back because for him he has tied down his money in a fixed asset that generates currents assets while the fixed assets appreciates ...qualities of a good business man[/quote

Hmmmmmmm, Mr business..... At least tru dat ppl got job d way urs gave some ppl job....dats d main tin

Ekealterego:

Oga stop chatting about something you don't know shit about. And for your information, this my friend of profession.

So, for your information, those schools are publicly owned property, but even if the government choses to privatise them, if it had cost the govt, 30k Naira to acquire the plots in 1970, (although today the Land Use Act, 1978 would have been used to get the plots) a private company will acquire same for 30k in 2019?

Please make una dey apply small common sense.

friend of profession . . . You will exhaust all your Nairaland accounts today.
Is land and building intangible asset in accounting?

Ekealterego:

Oga stop chatting about something you don't know shit about. And for your information, this my friend of profession.

So, for your information, those schools are publicly owned property, but even if the government choses to privatise them, if it had cost the govt, 30k Naira to acquire the plots in 1970, (although today the Land Use Act, 1978 would have been used to get the plots) a private company will acquire same for 30k in 2019?

Please make una dey apply small common sense.

My brother infact d thing tire me..the guy is not bright at all...just to dull to comprehend simple issues..if we come dey talk the proper accounting jargons I wonder if he will think person dey speak local dialect

Amortization and depreciation kooo...immortality and segregation niii...

Oyedepo would make a good president.

He has a global outlook different from that of the average Yoruba man or Nigerian for that matter. .

The fact that he wants his covenant university to be top10 in the world by 2023 and he is actually working towards it shows his above average mentality.

He Could be the visionary Nigeria needs, to bring us from the doldrums of mediocrity.

gobuchinny:


You are irredeemable..an educated illiterate who has refused to gain knowledge...expose me how??first you dare talk of amortization and depression with land and you expect to understand the business of real estate?

Your ignorance is bliss..please educate yourself and if you are in Lagos, Ogba to be precise, you can hit me up..i will take you on a tour of our school..built on sweat and real money not fraudulent monies from the commonwealth privatized to personal gains..its not a big school but very decent and caters to the needs of the community which we are paid for..now should the community thank me for providing a service im being paid for

The bolded is very funny...you are constantly exposing your ignorance and illetracy to any well informed reader on this thread by thinking of how to recover cost of construction or real estate from a long term investment

Clowns everywhere

Your ignorance is beyond bliss and is bling bling. You take a picture with it like a multi-platinum selling rapper.

gobuchinny:


My brother infact d thing tire me..the guy is not bright at all...just to dull to comprehend simple issues..if we come dey talk the proper accounting jargons I wonder if he will think person dey speak local dialect

Amortization and depreciation kooo...immortality and segregation niii...

Mr accounting professional, is land and building part of intangible assets as you implied? back up your claims and stop running.

1Sharon:


Don't even try it. Taking taxes from ppl and returning it to them in the form of free services is nothing like paying for the service completely.

Primary and secondary is free. University education in Scotland is free.

Tax is far more predictable and consistent than donations or offerings.

1Sharon:


Do shrines tell you you're going to hell if you don't pay?

Does winners say or allow that? Prove it if you say yes.