Blog entry by Oladipupo Adebanjo

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by Oladipupo Adebanjo - Monday, 10 May 2021, 11:40 PM
Anyone in the world

It was a really exciting, to learn that Professor Akintola Owolabi, will be facilitating the course, cost and management accounting.

We immediately commenced, with a refresher on corporate and financial accounting(CFA), and how it dove's tail into cost and management accounting(CMA).

In CFA, we primarily pictured decision making, principally for investors, on whether a potential investor should invest or not; taking into account 3 major parameters namely, returns, risk, and overtime period.

There were salient questions asked, as to why are we in business? How do accountants measure profit? What direction should profit face? For profit to be up, what should be the direction of revenue? What direction should expenses face? By providing the right answers to the above questions, it is evident that between expense and revenue, expense is more within the control of a manager.

The amount of the product that one sells, is based on the per unit value of that product by the volume or number of products. Likewise, the total revenue is the selling price by the volume or quantity of that product. Except for a monopolistic or oligopolistic situation, one cannot charge any selling price as there is a competitive market and once equilibrium is struck, the prices will become stable.

The die is certainly cast, and I can't wait to update you on what seems to be a very interesting course.

From me, it is Love and Light always.

Mr.Lads

#EMBA26

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