The Delta State Government on Thursday April 9, confirmed its second Coronavirus case who died after presenting himself to one of the hospitals in the state.
Governor Ifeanyi Okowa who made the announcement, said the deceased came into the South-South state from Lagos two weeks ago. The man had severe symptoms of the disease, and he died after his specimen which came back positive was taken.
I have just been informed of another case of #COVID19 in Delta State. The individual in question, had underlying health issues and had visited Lagos State in the past two weeks. The patient presented himself late to one of our hospitals with severe symptoms.
These symptoms included difficulty in breathing. He was immediately given the necessary attention by healthcare professionals. Shortly after the specimen was taken, he passed away. However, his test results came back positive today.
In order to mitigate against the spread of the virus, we are fast-tracking our contact tracing to ensure that all those that came in contact with the deceased patient are properly isolated and tested immediately.
Again, it is important that as we work to protect the citizens and residents of our state, families and friends of individuals that are exhibiting the primary symptoms of the #COVID19 virus, do not keep it from the authorities. If you see something; say something.
Nollywood Actor, Etim Effiong took to Instagram to share his excitement over news of his father, ex Lt. Col. Moses Effiong receiving a presidential pardon after 34 years.
The actor revealed that his father was convicted and sentenced to life in prison for concealment of treason in the Vatsa Coup against the IBB government in 1986. He was released in 1993, but his rank and entitlements were not restored.
Etim however, couldn’t hold back his joy after his father was granted a Presidential pardon by the Buhari-led administration after 34 years.
THE COLONEL IS BACK! IN 1986 my Father was convicted and sentenced to life in prison for concealment of treason in the Vatsa Coup against the IBB government. Although he was released in 1993, it wasn’t made official and his rank and entitlements were not restored. Today 34 years later, he has officially received his presidential pardon.
The Federal Government has granted amnesty to no fewer than 2,600 inmates as part of measures to decongest prison facilities during the COVID-19 pandemic.
The Minister of Interior, Rauf Aregbesola, announced this at a press conference which held at the headquarters of the Nigerian Correctional Service in Abuja today April 9.
According to the Minister, those eligible for the pardon include inmates that are 60 years and above; those suffering from ill-health likely to result in death; convicts serving three years and above and have less than six months to serve; inmates with mental issues; and inmates with an option of fine not exceeding N50,000.
Aregbesola said that out of the said number, 70 inmates will be released today from Kuje maximum custodial centre.
“In a symbolic gesture of the amnesty given to the 2,600 inmates across Nigeria, 41 Federal inmates and 29 FCT inmates making a total of 70 inmates who met the above criteria will be released today from the Kuje Custodial Centre in Abuja. This amnesty will not apply to inmates sentenced for violent extreme offences such as terrorism, kidnapping, armed banditry, rape, human trafficking, culpable homicide and so on.
The Governors of the 36 states under whose jurisdiction most of the inmates were incarcerated will complete the exercise in line with the federal principle.” he said.
The Copyright Society of Nigeria (COSON) has announced a N50 million financial relief package for all Nigerian artistes as the nation continues to battle the Coronavirus pandemic.
In a statement released, President of COSON, Tony Okoroji, said since the beginning of the pandemic and the eventual lockdown of some states, himself and other board members have received calls from many artistes who are desperate for any kind of assistance as they have been affected by the pandemic and the current lockdown which has also stopped entertainment activities across the country.
He said the orgaization’s board has therefore approved the release of 50 Million Naira to be shared amongst about 4,500 members on the society’s register as at May 19th, 2019 as an Anti-Corona Emergency Relief Distribution from COSON. Each member is to receive N11, 000.
“I have personally received calls from several members of COSON who are desperate for immediate assistance of any kind. Other members of our Board have received similar messages. At a time like this, COSON must be responsible and responsive to the needs of our members and we should do everything we can to help them wade through these hard times. That is the very reason why COSON was set up.
I am proud of the quick response of members of the COSON Board who showed great understanding that we must be our brothers’ keeper at a time like this.
Starting immediately, with the co-operation of the banks, each qualified member of COSON will receive a modest sum of eleven thousand naira in what we have termed Anti-Coronavirus Emergency Relief (ACER) General Distribution. We are able to do this because of the deft management of our resources. We wish we could do more. I however believe that most people are aware of what we have been through in recent times. Let me thank the COSON management team of Vincent Adawaisi, Isa Aruna and Anthony Imuse who burnt the midnight oil to ensure that the decision of the Board is executed with dispatch” he said
On outstanding Specific Distributions, the COSON Chairman said
“Every member of the Board is very eager that all outstanding specific distributions should be paid without any delay. The issue was prominent in our discussions on the emergency relief distribution. While the Board and the General Assembly have approved the specific distributions, it is common knowledge that COSON funds in two banks are frozen. The money for the specific distributions is domiciled in the frozen accounts. The money is safe. Not one Naira is missing.
It is also common knowledge that we have gone to court to have the accounts unfrozen and immediately that happens, the money will be paid. In any case, all those entitled to Specific distribution will also receive the Anti-Coronavirus Emergency Relief (ACER) General Distribution.
It is unfortunate that it is some of our colleagues that requested the banks to freeze the accounts which has brought this suffering to innocent COSON members and even to those who took the action. That is why we need to be very careful about what we say and what we do.
I hope that we will use this very challenging period to think deeply. We have built COSON to be there for musicians through thick and thin. We work hard to ensure that COSON takes care of musicians while they are alive and celebrates them even in death. Has anyone forgotten how in an unprecedented manner we buried the late Ras Kimono like a king?
Said the COSON Chairman, “Some people may think that because things are going well for them today, they will never need COSON. I have been in the industry long enough to know that the day will come when each of us needs an institution like COSON. When I hear people in our industry call on government to clamp down on COSON or that those who owe us money should not pay us, I ask why anyone would choose to urinate into a well from which he might soon draw water to drink when he is desperately thirsty”.
Concluded Chief Okoroji
“I know that I cannot please everyone but I am working hard every day to lift up the musicians of Nigeria, promote and defend our industry and provide visible solutions to the problems of each of us. I have absolutely no interest in the cantankerous name calling and rabid character assassination which many appear to dwell in and which do not provide even one
cup of garri for any Nigerian artiste or one cube of Maggifor his pot of soup”.
The Treasury House which is the office of the Accountant General of the Federation in the Federal Capital Territory, Abuja was gutted by fire this morning Wednesday April 8th.
According to reports, the fire started from the third floor, razing the building upwards including the Accountant General’s office and most of the important offices. The cause of the fire is yet to be ascertained.
Ondo state government has granted permission to churches in the state to hold Easter celebration services on Sunday April 12 despite the total ban on public gatherings in the state due to the Coronavirus pandemic.
A statement released by the chairman of Ondo chapter of the Christian Association of Nigeria(CAN), Reverend John Oladapo, today Wednesday April 8, said the state government granted permission on condition that all churches would adhere strictly to all precautionary measures to avert the spread of Coronavirus.
Oladapo said part of the conditions include washing of hands with soap and water by worshippers, use of hand sanitisers, limiting services to 20 people in a small church building, 50 persons in a medium size while big and cathedrals must maintain 3 congregants on a pew.
The CAN chairman said the Easter services would hold between 7am and 12noon on Sunday and warned against posting the church services on social media.
Confirming the development, the state Commissioner of information and Orientation, Donald Ojogo, said the state government graciously granted the permission because Easter Sunday, isone of the most important annual celebrations of the church. He said the state Government has already communicated to the Ondo State Police Command about the permission granted to CAN.
Ojogo said there will be no Easter Retreat (Good Friday Programmes) or the Jumat service gatherings on Friday April 10th or ‘Gallilee’ services on Monday April 13th. He said the ban on all social, political and religious gatherings continues afterwards, until further notice
Boko Haram leader, Abubakar Shekau has reacts to the $7m reward the US Department of State recently announced for anyone with credible information that will lead to his arrest. The Department of State made the announcement on March 4th. READ HERE
Media personality Bassim who films reports on Terrorism, shared a video of the sect leader reacting to the $7 million bounty placed on him.
Some candidates may qualify for scholarships or financial aid, which will be credited against the Program Fee once eligibility is determined. Please refer to the Payment & Financial Aid page for further information. Explore an explanation of projected income and learn how to estimate it, how to create a final projection and other uses for projected income. Learn the definitions for two types of accounts, temporary and permanent, and the differences between them. It reveals a business’ liquidity so that companies know just how much cash is on hand, and thus their projected runway to when cash is projected to run out. Under Cash Flow from Investing Activities, we reverse those investments, removing the cash on hand. They have cash value, but they aren’t the same as cash—and the only asset we’re interested in, in this context, is currency.
When your cash flow statement shows a negative number at the bottom, that means you lost cash during the accounting period—you have negative cash flow. It’s important to remember that long-term, negative cash flow isn’t always a bad thing. For example, early stage businesses need to track their burn rate as they try to become profitable.
By learning how to create and analyze cash flow statements, you can make better, more informed decisions, regardless of your position. Business owners, managers, and other stakeholders use cash flow statements to better understand their companies’ value and overall health and guide financial decision-making. Regardless of your position, learning how to create and interpret financial statements can empower you to understand your company’s inner workings and contribute to its future success. The problem with this method is it’s difficult and time consuming to create.
There are various ways to compute the profitability of a company, such as gross margin, operating margin, return on assets, return on equity, return on sales, and return on investment. Learn the definition of profitability ratio and analyze examples of profitability ratio. Here’s an example of a cash flow statement prepared using the direct method. More specifically, these activities may include an asset purchase or sale, interest from loans or payments related to mergers and acquisitions. We’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep.
Any cash generated from such a sale will be categorized as a cash inflow under this section. Purchasing stocks of another company treated to be an investment would also yield the same result. In general, any cash used for investments would be tagged as cash outflow under this section.
Cash Flow Classifications
The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. For the most accurate information, please ask your customer service representative. Clarify all fees and contract details before signing a contract or finalizing your purchase. Each individual’s unique needs should be considered when deciding on chosen products. As can be seen from above, ML company has a net cash flow of $17,010 for the year ended December 31, 2020. The purchase of a long-term asset would result in a cash outflow in the Investing Activities section.
You’re selectively backtracking your income statement in order to eliminate transactions that don’t show the movement of cash.
After listing the cash receipts and payments, subtract the outgoing cash from the incoming cash to arrive at the net cash flow for operating activities.
Accrual accounting recognizes income in that period it is received instead of when the payment is actually received from clients.
The cash-based information provided by the cash flow statement contrasts with the accrual-based information from the income statement.
Among the main trifecta of financial reports—the balance sheet, income statement and cash flow statement—it’s often the statement of cash flow that gets the least attention and time. direct vs indirect cash flow example But as a view into your company’s liquidity, it provides an important piece of the puzzle. Using the indirect method, actual cash inflows and outflows do not have to be known.
The Essential Guide To Direct Cash Flow And Indirect Cash Flow
Since the cash flow statement provides insight into different areas a business used or received cash, it’s an important financial statement when it comes to valuing a company and understanding how it operates. Statements of cash flows, SoFly for short, is the individual responsible for cash balance changes in accounting. Learn the purpose and format of the statement of cash flows through examples, and the five reasons it’s important to the company. Cash Flows from Operating Activities Cash flows from operating activities result from providing services and producing and delivering goods.
The indirect method is almost universally used, because FAS 95 requires a supplementary report similar to the indirect method if a company chooses to use the direct method. In summary, information about the sources and uses of cash helps creditors, investors, and other statement users evaluate the company’s liquidity, solvency, and financial flexibility. In general, an increase in a company’s current assets would result in a cash outflow, while a decrease would result in cash inflow. It includes any cash inflows and outflow that affect the equity capital and borrowing structure of a company. This section includes all cash inflows and outflows involving long-term assets such as land, building, equipment, machinery, etc.
The indirect method is typically faster and closely linked to the balance sheet, which is why most companies prefer it. Both methods are accepted by Generally Accepted Accounting Principles and International Financial Reporting Standards , so you can ultimately decide which method you prefer. This is typically thought of as the most important section, as it shows how much cash was generated from a business’s actual operations.
Cash Flow Statements: Reviewing Cash Flow From Operations
While income statements are excellent for showing you how much money you’ve spent and earned, they don’t necessarily tell you how much cash you have on hand for a specific period of time. Manage a business successfully, so owners have sufficient cash on hand to fund operations. In short, without a regularly prepared cash flow statement, it will be difficult to see the big picture of your company’s performance.
IAS 7 requires that the cash flow statement include changes in both cash and cash equivalents. The cash flow statement can be used to determine free cash flow to the firm and free cash flow to equity .
Investing Activities And Cash Flow
If you’re looking for help with your nonprofit statement of cash flows, we recommend reaching out to Jitasa accountants. Our trained accounting professionals will not only help your organization compile an accurate report, but we’ll also help you interpret the findings from it.
ROYALTY PHARMA PLC MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) – marketscreener.com
ROYALTY PHARMA PLC MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K).
A statement of changes refers to relevant alterations in profits, policies, improvements, and investments. Learn the format and important elements to include in statements of changes in equity. Galaxy Interiors 2011 Income Statement ($ in… The income statement for M2 Pizza Pie Company… Geller Florist Inc. had the following… Jones Industries received $800,000 from issuing… Cash Flow for Month Ending July 31, 2019 is $500, once we crunch all the numbers. After accounting for all of the additions and subtractions to cash, he has $6,000 at the end of the period. Transactions that show a decrease in liabilities result in a decrease in cash flow.
Select account categories to add account groups to support cash flow reporting. While the concepts discussed herein are intended to help business owners understand general accounting concepts, always speak with a CPA regarding your particular financial situation. The answer to certain tax and accounting issues is often highly dependent on the fact situation presented and your overall financial status. For example, non-cash expenses such as depreciation and amortization are added back to the net income since these are expenses that didn’t result in a reduction of cash. It was able to generate a net cash inflow of $45,000 from its financing activities, which all in all resulted in a net cash inflow of $17,010.
Cash flow statement, or check out the resources and templates your accounting software offers.
Peggy James is a CPA with over 9 years of experience in accounting and finance, including corporate, nonprofit, and personal finance environments.
The balance sheet shows the financial position of the business for a given financial period.
While you can pull this report together on your own, we highly recommend reaching out to a professional instead.
That’s an asset recorded on the balance sheet, but we didn’t actually receive the cash, so we remove it from cash on hand. Even though our net income listed at the top of the cash flow statement was $60,000, we only received $42,500.
Access The Latest Business Knowledge In Finance
Throughout this article, we’ll explain each method, how they are calculated and why you might choose to use either one. By studying the CFS, an investor can get a clear picture of how much cash a company generates and gain a solid understanding of the financial well-being of a company. Cash Flow From Operating Activities indicates the amount of cash a company generates from its ongoing, regular business activities. It is only in the calculation of the Cash Flow from Operations that the company accountants must make a choice between the Direct Method and the Indirect Method.
In most cases, companies that are still growing will have a negative net cash flow from investing activities. – When you’re calculating cash flow using the indirect method, you’ll start by recording the net income for a given period, before subtracting or adding non-cash expenses, losses, and gains. Non-cash expenses can include items like depreciation, amortization, and depletion.
Earlier this week, a popular Warri Slay Queen and runz babe, blew off the Internet, especially Facebook when she claimed that she won’t stop sleeping around until she successfully infect 10,000 rich married men with the deadly HIV disease that she’s carrying
Mother Reveals What Makes Little Daughter to Have Big Breast at 8 Years of Age
A mother of the little girl who appeared online recently for being the most little girl with biggest chest in the world has voiced out to tell the world why her little girl developed big chest at a very tender age.
The little girl trending recently for her nature, bearing big breast at that young age of eight. The little girl appearance is strange to every one to see.
However, despite all views and opinions expressed by concerned people all across social space. The mother came out to tell the world what makes it possible.
She said, “my little girl began to develop puberty signs at the age two. We approached Doctors in different hospital. We had no solution to it. We were told it’s normal that no biological malfunction is wrong in her body.
Therefore we have no choice than to live with her since we were see assured of no health challenge concerning the development”.
Now, if you are the parents of this little girl, what would you have done?
Pastor in South Africa known as Priest Light Monyeki from Soshaguve during the High Place Conference, which is also referred to as his “Supernatural Service,” proclaimed that his congregation must not fear death, as they will not die when he was feeding them with Rat poison.
Monyeki started pouring Rattax (a popular rat poison) into a bottle of water, which he then urged his believers to drink. He also put some rat poison into a water bottle and then challenged his believers to drink from the poisoned water.
Monyeki then took a swig from the bottle of poisoned water. And with the power of belief and the absolute faith they had in Monyeki, many followers ran forward to take a drink as well.
Two Japanese passengers who contracted the Covid-19 virus onboard a cruise ship quarantined in Japan have died.
One passenger died from Covid-19, while the other died from pneumonia, said local reports. Both were in their 80s and had underlying health conditions.
They had already been taken off the Diamond Princess last week and were being treated in hospitals.
At least 621 people on the ship tested positive for the virus, the biggest cluster outside mainland China.
Japan’s Health Minister said both passengers were sent to medical facilities when they showed symptoms.
“I believe they received the best possible treatment”, said Health Minister Katsunobu Kato in an AFP report.
The Diamond Princess was carrying 3,700 people in total and passengers who tested negative for the virus began leaving the ship on Wednesday after a 14 day quarantine.
Hundreds have now disembarked from the cruise. Others are set to leave over the next two days.
More than 150 Australian passengers have already arrived in Darwin, where they will begin two weeks of quarantine.
The first batch of people from Hong Kong have also flown back to the city, where they will similarly be quarantined.
British Foreign Secretary Dominic Raab said the 74 Britons onboard the ship would be flown home on Friday. Indonesia is also set to repatriate its citizens.
But there are fears and criticism over Japan’s handling of the quarantine on the Diamond Princess.
Japanese health expert Kentaro Iwata, professor at the infectious diseases division of Japan’s Kobe University, visited the Diamond Princess and said the situation on board was “completely chaotic”.
“The cruise ship was completely inadequate in terms of infection control,” he said in a widely shared YouTube video which he has since taken offline.
US officials have also said moves to contain the virus “may not have been sufficient”.
But on Thursday, Japan’s health minister responded to Mr Iwata’s criticism, saying authorities had worked hard to deal with a very complicated situation.
“We’ve been doing our best in the circumstances,” said Katsunobu Kato.
New infections in China declining
Meanwhile China, where the outbreak began, has seen a sharp drop in the number of new infections.
There were 394 new confirmed cases and 114 deaths reported on Wednesday, down from 1,749 new cases on Tuesday, the National Health Commission said.
Overall, there have now been 2,118 deaths and more than 75,000 confirmed infections recorded in mainland China. About 16,000 patients have recovered.
There are more than 1,000 cases outside of China with the biggest cluster on the Diamond Princess in Japan, followed by Singapore, South Korea and Hong Kong.
Iran says two people infected with the virus have died in the city of Qom – the first reported deaths in the Middle East.
On Wednesday, Hong Kong said a 70-year-old man with underlying illnesses became the territory’s second fatality.
France, Japan, the Philippines and Taiwan have each had one death attributed to the virus.
Sharp rise in South Korea
South Korea on Thursday announced a jump of 31 confirmed Covid-19 infections – 23 of them from a newly identified cluster at a large religious community. South Korea now has a total of 82 confirmed cases.
The cluster is in the south-western city of Daegu – home to 2.5 million residents – and is believed to be linked to a 61-year-old woman who was confirmed to be infected earlier this week.
The Korean Centre for Disease Control said that the woman had contact with 166 people, who were asked to self-quarantine, South Korea’s Yonhap news agency reports.
The religious sect known as the Temple of the Tabernacle of the Testimony, which has been accused of being a cult, said it had shut down the Daegu branch and that services in other regions would be held online or individually at home.
The mayor of the city has described the event as an “unprecedented crisis” and urged people in the city to stay indoors.
Good morning! Here is today’s summary from Nigerian Newspapers
1. The Bayelsa State House Assembly has elected Deputy Speaker, Abraham Ngobere, as the new Speaker of the Assembly.
The Assembly Speaker, Monday Bubou-Obolo, stepped down to pave way for Abraham, because the newly inaugurated Bayelsa State Governor, Douye Diri, is from the same Senatorial District as the former speaker, Bubou-Obolo.
2. Ousted Bayelsa State Governor-Elect, David Lyon, has said that he would never sponsor violence in the state following the Supreme Court judgement that went against him.
Lyon in a statement signed on his behalf by Alphine Ogoh, appealed to all stakeholders to remain calm and allow the legal team of the party explore all legal remedies available in law.
3. Niger Delta Militants, under the auspices of Reformed Niger Delta Avengers, RNDA, have refuted an earlier threat to resume destruction oil facilities following the Supreme Court ruling that sacked Governor-elect of Bayelsa State, David Lyon.
The Coalition of militants in the region led by a factional leader of the RNDA, Johnmark Ebi on Tuesday vowed to resume their destructive activities in the region following the sack of Lyon.
4. Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, on Wednesday reacted to the face-off between the National Security Adviser, NSA, Maj. Gen Babagana Monguno (rtd) and President Muhammadu Buhari’s Chief of Staff, Abba Kyari.
Kanu claimed that the face-off between Mongono and Kyari was an indication that Buhari was not in charge of his government, adding that the situation further proved him right that the current Nigerian president was an impostor from Sudan.
5. The Nigeria Police Force has arrested an alleged conspirator in the murder of an Assistant Director attached to the State House, Abuja, Laetitia Dagan.
The FCT Police Command on Wednesday, who confirmed the arrest of the suspect, identified as Edirin Ohonre, said the suspect, who is currently under interrogation, was assisting the team of detectives with information that would lead to the arrest of the other suspects connected to the crime.
6. The nation’s crude oil reserves of 37 billion barrels, two per cent of which is being produced annually, will be depleted in 49 years, according to the Department of Petroleum Resources.
DPR data showed that the reserves, which stood at 37.45 billion barrels in 2014, fell to 37.06 billion barrels in 2015 and 36.74 billion barrels in 2016. It, however, rose to 36.97 billion barrels in 2017 and 37 billion barrels in 2018.
7. The Lagos State Commissioner for Health, Prof. Akin Abayomi, has said the state has placed 63 persons under surveillance following the confirmation of an index lassa fever case being isolated at the Lagos University Teaching Hospital, Idi-Araba.
Abayomi made this disclosure at a press briefing on Wednesday, calling on the public not to panic.
8. Borno State Governor, Prof. Babagana Zulum, has said that the nation might need about 100,000 more soldiers to win the war against Boko Haram.
Zulum, who stated this on Wednesday while playing host to the House of Representatives’ Committee on Defence led by its chairman, Hon. Babajimi Benson, advised that at least 50,000 people from Borno should be engaged by the military with or without western education to prosecute the ongoing war on terror.
9. The death has been announced of Nollywood actress, Patience Oseni.
Her daughter, Augusta Akomolafe said the actress passed away in Calabar, Cross River State.
10. The Nigerian National Petroleum Corporation has said the nation lost about $750m to crude oil theft in 2019.
The Group Managing Director, NNPC, Mallam Mele Kyari, who disclosed this on Tuesday, decried the growing activities of oil thieves and pirates which he described as a threat to the operations of the corporation.