small_ble

Aquarius

[small_ble @small_ble]

You can't give another human the responsibility of your happiness

[small_ble @small_ble]

@GloWorld Cant believe I’ve been here for more than 30mins and eSIM isn’t fixed yet. didn’t even use 10mins at Mtn office
I was told to fill a form in your silly office and nothing has been done, telling me you’re waiting for SN. That’s why you people will keep struggling to meet others

[UG @UgwunnaEjikem]

“Respect our tradition.” “It’s our culture.”

This is 2026. Deltans, if your ‘culture’ involves sexually assaulting women cos they went outside, it’s not ‘culture’, it’s abuse. Fuck your culture.

[small_ble @small_ble]

The latest ALAT app update is so beautiful 🤭🤭
#alat #ALATByWema #ALATTheEvolution #TrendingNow

[Alex Onyia @winexviv]

Agbo Adoga is 15 years old. He got the SAT perfect score of 1600. He attends Graceland International School, PortHarcourt.

He has 84 major achievements at 15:

1. Singapore Maths Global Finals (SMGF) 2025, Overall Runner Up, Grade 11 & 12.
2. Singapore and Asian Schools Maths Olympiad (SASMO) 2024, Perfect Scorer, Grade 11.
3. 1st place State-wide in SPE YMCTY STEM Competition.
4. 1st place worldwide in the Maths Best of the Best round of the 5th International STEM Olympiad 2025.
5. Gold medal certificate in the Best Of the Bestround of the 5th International STEM Olympiad 2025 (Maths)
6. Gold medal certificate in the Best Of the Best round of the 4th International STEM Olympiad 2024 (Maths)
7. Gold medal certificate in the Best Of the Best round of the 3rd International STEM Olympiad 2023 (Maths)
8. Gold medal certificate in the Final round of the 5th International STEM Olympiad 2025 (Maths)
9. Gold medal certificate in the Final round of the 4th International STEM Olympiad 2024 (Maths)
10. Gold medal certificate in the Final round of the 3rd International STEM Olympiad 2023 (Maths)
11. Silver medal certificate in the Final round of the 2nd International STEM Olympiad, 2022 (Maths)
12. Silver medal certificate in the Final round of the 5th International STEM Olympiad 2025(Coding)
13. Honourable mention certificate in the final round of the 4th International STEM Olympiad 2024 (Coding)
14. Participation certificate in the final round of the 3rd International STEM Olympiad 2023 (Coding)
15. Gold medal for being the World Champion in the 4th Grand Final of the International STEM Olympiad (Mathematics - Grade 11), Spain, 2025
16. Gold medal in the 4th Grand Final of the International STEM Olympiad (Coding - Grade 11), Spain, 2025
17. Gold medal for being the World Champion in the 3rd Grand Final of the International STEM Olympiad (Mathematics - Grade 10), Netherlands, 2024
18. Silver medal in the 4th Grand Final of the International STEM Olympiad (Coding - Grade 10), Netherlands, 2024
19. Gold medal in the American Math Olympiad 2024
20. 1st place in the National Mathematics Tournament (Maths4life) team quiz show with a prize of ₦3,000,000, 2025
21. Most valuable player of the National Mathematics Tournament (Maths4life) team quiz show, with a prize of ₦100,000, 2025
22. Quarter-Finalist in the 2025 Cowbellpedia TV Quiz Show Senior Category nationwide.
23. Winner of the 2023 Cowbellpedia TV Quiz Show Junior category nationwide with a cash prize of ₦5,000,000, and an educational excursion to South Africa
24. State Champion in the 2023 Rotary Club of Port Harcourt Airfield-Sponsored Mathematics Competition Junior Category with a cash prize of ₦250,000
25. Semi-Finalist in the 2024 Rotary Club of Port Harcourt Airfield-Sponsored Mathematics Competition Senior Category
26. 2nd Runner-up National in the 2023 Math Contest Nigeria competition with a cash prize of ₦100,000
27. Silver medallist in the 2024 Special Maths Competition (SMC) with a prize of ₦75,000 and a new laptop.
28. 2nd Runner-up world-wide in the 2023 Special Mathematics Contest (SMC) with a cash prize of $250
29. University of Witwatersrand Mathematics Competition Junior – Top Ten – 2022
30. University of Witwatersrand Mathematics Competition Senior – Finalist – 2024
31. University of Witwatersrand Mathematics Competition Senior – Finalist – 2025
32. 2024 International Youth Mathematics Challenge (IYMC), 1st Nationwide
33. 2024 International Youth Mathematics Challenge (IYMC), Silver Honour Award
34. 2023 International Youth Mathematics Challenge (IYMC), Silver Honour Award
35. 2022 International Youth Mathematics Challenge (IYMC), Silver Honour Award
36. Nigerian Junior Maths Olympiad - 1st in Nigeria, rounds 1 and 2– 2023
37. Nigerian Senior Maths Olympiad - 1st in Nigeria, rounds 2 and 3– 2025
38. Nigerian Maths Olympiad – 3rd Round Participant – 2022
39. Nigerian Maths Olympiad – 3rd Round Participant – 2023

[CFCDaily @CFCDaily]

🚨Chelsea fans celebrations to being WORLD CHAMPIONS across the world. [@Greenaugustus13]

[Chelsea FC @ChelseaFC]

🥶

[Chelsea FC @ChelseaFC]

Everyone at Chelsea FC is devastated to learn of the tragic passing of Diogo Jota and his brother, Andre.

Our thoughts go out to their family, friends and all at Liverpool FC at this incredibly difficult time. 💙

[small_ble @small_ble]

@ghosttweetor @IranMilitary__ Try stand with Benue fess

[small_ble @small_ble]

@ApeMP5 Good morning

[small_ble @small_ble]

@Timmyofdelta Five meter

[small_ble @small_ble]

@dogstelegrameme Mmmm

[small_ble @small_ble]

@Timmyofdelta 0x63f5763C543D4dfc2f346b11C40179cBa0D75252

[small_ble @small_ble]

@sacaswallet @OlaAfo32 @ojo_ogun @adecro

[small_ble @small_ble]

@john322226 Esin de😂😂😂

[small_ble @small_ble]

@ChelseaFC ENJR

[Iwelabi @Iwelabi1]

For today's #DailyFnADose

Let me share this that I wrote some years back.

---
Welcome to another episode of #AccountingStandards with Iwelabi.

In today's episode, we'll look at a simple technique for demonstrating your technical knowledge of the applicability of some International Accounting Standards (IAS) when you appear to have been caught off guard in an interview with a highly experienced interviewer.

Assume you're in an interview, and you've been doing an excellent job of introducing yourself and sharing your experience until your interviewer says...

Interviewer: How familiar are you with IASs and IFRSs, and how many of them can you apply comfortably in practice?

***

Given that you are a recent graduate, you lack relevant experience.

Alternatively, you have always worked with startups and have always felt that all of those standards are never applicable to startups.

Your own condition could be that you have always worked as an Account Payable Officer in a Multinational and have never had the opportunity to work directly with your organization's Financial/Corporate Reporting Team.

Now, this interview feels more like you're winning and on your way to a dream job. It's about to go crazy. Not to worry, I've compiled a list of at least 5 standards that you can discuss together so that by the end, your interviewer will be wowed beyond words.

***

Interviewer: Young man, are you here at all? 🤔

Iwelabi: Yes, sir! - with a grin 😃 I'm not sure where to begin, but I can confidently discuss the applicability of IAS 16, IAS 23, IAS 20, IAS 40, IAS 36, and IFRS 5 right away.

Iwelabi: Suppose that your company built this tower we are in, which is only used for its' office operations. The tower cost N50m to build. However, while constructing the tower, we only had N30m and borrowed N20m from CBN with N3m interest. How do we treat this in our book?

Iwelabi: Since it is obvious that this tower is an asset, the total cost of this asset would be N53m according to IAS 16 - PPE, as the interest of N3m paid on the loan collected to build the tower is to be added to the total cost of a total. Technically, the interest on the loan is called Borrowing Cost.

Iwelabi: Even though the N3m represents the interest we paid on the CBN loan, it is possible that not all of the N3m meets the capitalisation criteria of IAS 23, which addresses how to treat Borrowing Cost. Let's say the loan we received from CBN is repayable + interest in 10 months, and the construction of this tower was completed during the 8th month; if this is the case, we won't be adding the N3m to the total cost of the tower, but rather N2.4m, with the remaining N600k treated as an expense. This is due to IAS 23, which states that capitalisation of Borrowing Cost ceases once the asset is ready for use - in this case, completed. The interest on the loan would be charged as an expense to the profit or loss account after the asset is ready, rather than being added to the total cost of the asset.

Iwelabi: Assume that the CBN loan is no longer a loan but a grant from the FG or another party. That is, IAS 23 will not apply again, but IAS 20, which discusses how to deal with Government Grants. In this case, let us assume that the FG has given us the N30m and that we are confident that we will meet all of the FG's conditions for receiving the money, which means that we can record the grant in our books. Because this is related to an asset, the standard refers to it as a capital grant (we also have revenue grants, which are related to expenses), and the treatment is as follows:

Once we received the money, we...

Dr. Bank - N30m

Cr. Deferred Income (Liability) - N30m

According to the standard, the N30m grant is to be charged as income to the profit or loss account based on the useful life of the asset. Say the Tower is to have a useful life of 10years, that means every year, we will...

Dr. Deferred Liability - N3m

Cr. Other Income - N3m

We will do this every year until the end of the useful life of the asset.

Iwelabi: Again, suppose we decided to leave this tower and rent it out. Because we decided to rent it out, IAS 16 will no longer apply to the asset because the tower is now considered an Investment Property and will be treated under IAS 40 because the Tower will generate us rental income and capital appreciation. Once this is decided, we must stop depreciating the Tower and revalue it, with the gain or loss on revaluation charged to the profit or loss account. At every year-end, we must continue to watch out for the Fair Value of the Tower if we decided to use the Revaluation Model for our investment property subsequent recognition.

Iwelabi: In the event that after we rented the tower out and one of the tenants, out of negligence, set fire 🔥 on some part of the tower, we will need to test the asset for impairment in accordance with the provision of IAS 36. This is so that we don't go ahead to record N40m for the tower in our book when it is only worth N30m if we are to sell it or continue using it after the fire incident. IAS 36 suggested that we record the higher of Value in Use (if we continue using it, what it can generate for us) and Fair Value less Cost to Sell (if we are to sell it, how much are we going to sell it, including any cost we need to incur while selling). Let's say, the Value in use is N30m and the Fair Value less Cost to Sell is N25m. The standard requires that we choose N30m since that is higher and more favorable for us.

Iwelabi: Let's say, after all of this, we've decided to sell the tower, and we're confident we'll be able to do so within the next 12 months. That means we'll have to reclassify the tower as Non-current Held For Sale and treat it in accordance with IFRS 5 - NCA Held for Sale. To do so, we must value the Tower based on its Carrying Amount (the amount currently in our book) and Fair Value Less Cost to Sell. If the CA in our book is N40m and the FVLCS is N25m. That means we'll have to record the tower as NCA Held-for-Sale of N25m and expense the N15m difference as impairment (loss of value).

Interviewer: Wow 👌 👏 😍 We should stop here.

Iwelabi: Thank you, Ma.

Cheers,
#Iwelabi
---

[small_ble @small_ble]

@HoldstationW 0x10264eD069D602fA8fC752bF9a7740cd47F864F3

[small_ble @small_ble]

Has to be Simi😂😂cox how can all tracks be fav😍😍

[small_ble @small_ble]

Simi’s “one of one” is a whole meal☺️❤️

[small_ble @small_ble]

@sacasnetwork @holarwole12 @ojo_ogun @AdecrownI