Accounting With Uncle William

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Shout out to my newest followers! Excited to have you onboard!

George K. Momo, Bolay Ngasa

Good morning and HAPPY NEW YEAR, Fans.
May God grant you and your families good health and peace of mind this new year and many more years to come.

ASSETS are defined as all the possessions owned by a business. These may include tangible items like property and equipment, as well as intangible assets such as intellectual property.

On the other hand, LIABILITIES consist of all obligations and debts that the business is responsible for but doesn't own outright. These could involve loans, outstanding payments, or other financial responsibilities.

In accounting, a fundamental principle is followed: assets are , indicating an increase, while liabilities are , representing an increase in obligations. This accounting practice ensures an accurate representation of a business's financial status.

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All fingers are not equal and so shall it be till the end of time. If you can help anyone, help them even if your help will make them rise above you. An okra tree never outgrows its planter. History will remember you.

Don't be a quiet and obsequious follower. Express your opinion when you observe an issue. Do it even if no one seems to listen. One day, your opinion will be remembered. And no one will dare blame you.

In August, an old friend and I had the following discussion while on our way to check on his traps in my native village.

Friend: My man you like to praise people too much even if they have done nothing personally for you.

Me: Haha. It's used to me. So it has become my way of life.

Friend: But it will devalue you. It makes people feel that the person you are appreciating is better than you.

Me: How? Is it not better to give people their flower when they are living?

Friend: Nammo, (as I am often called by my childhood friends), When you praise your friend man too much in this country, it makes them think that you want a favor from them. Thank you is enough.

Me: It’s not everyone that will think like that. Some people really deserve motivation for the good they do for society. And I want to be remembered for being a motivator for good people in this world.

Friend: Have you not done any good for anyone in your entire life? So why people don't praise you too? Telling too much positive things about your fellow men is like selling your blessing/luck to them. I told you “thank you” is enough. Money is not the only good that you can give people. You have helped many people with kind words. The relationship that some people in Minleenta (my native village) have today was motivated by you. Every time you encourage us to send our children to school. Every time you come here, you give us tips about how criminals can steal from people in the citties and how they are taking the same scams to rural Liberia. But no one appreciates you for that. YOU need to stop making people to think that they are better than you. In fact, some of our citizens who left here for Monrovia don't even remember our names or associate with us when they come here. But you know everyone’s name and you eat and drink anything that we eat and drink. Those things hurt me about you. Sometimes I want to tell you, but I don't know how you will feel. Sometimes some of those people can be boasting that you have great respect for them because you know what they can do.

Me: Hahaha. I understand, my brother. But you see this life, people have different attitudes about different issues. If people don't appreciate you for what you do, probably it is because you have not done enough to attract their appreciation or you do what you do as a result of what they do for you. You don't compel the person who buys your goods to say “thank you”.

For my knowing everyone's name and eating what you eat, I have no option. I don't bring food and water here. But the other people can do without associating with you. It could be you too. Why have you stopped playing on the ground as we used to do when we were children? Isn’t it because you have grown? Do zoes (native doctors) and ordinary people eat together always? Life has stages and steps. Some people go from one stage to another and keep going forward; others stay at one stage forever, while some go around (back and forth). Some people lift others while others only lift themselves…

Sorry that my constant act of gratitude hurts you because of the love and respect you have for me. There will come a time and that time is near that you will be proud that I am your friend and brother. The time is coming when the world will appreciate me, not just an individual. However, please let me be grateful to others while that time is yet to come. But from now on, I will be careful with the way I go about praising my fellow men. I too deserve some respect as you have said. 👍

Thank you.

No matter how lazy you are, never allow your fellow man to beat you twice or more. You will have to either avoid him or make him your best friend. That is called wisdom. This post is not about a physical fight. It's deeper than that.

I have reached 100 followers! Thank you for your continued support. I could not have done it without each of you. May God bless you all.🙏🤗🎉

EU Says Recession Is Now Here and Inflation Shock Will Linger On

8 Degrees North in is now officially RSPO certified to produce and sell organic crude palm oil 🌴! With the support of a co-investment grant, they have already generated over $1 million in investments. 👏

RSPO stands for Roundtable on Sustainable Palm Oil and is an internationally recognized standard that facilitates access to premium markets, like the U.S.

U.S. Embassy Ghana USAID/Liberia

If you borrow anything for your business, that is called Liability (plural: liabilities). For example: You borrow money from the bank or your susu club (the name of a saving club in Liberia) or you take some goods on credit.

In accounting, all the things that your business own (all the things you have in the business) are called assets.

Hello Family.

This week, we are starting our lessons.

Hello everyone. We will be coming back with our lesson by next month. Sorry for the long quietude.

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Hello fellow students and lovers of accounting.

I am honored for the support you are giving me by continuously liking this page. Please, just hit the "invite friends" button and invite all of your friends. You may not know who, among your friends, has been looking for the opportunity to learn basic accounting concepts. As for the contents of the page, rest assured that Monday will be a great day of learning. I am so proud of you all.

I am so grateful for your support once again. 🙏🙏🙏🙏🙏

Before you go further in learning accounting, you must be able to define the word itself - accounting. So by the time you are through with this post, you should be able to define accounting.
Accounting is about the systematic and detailed recording of financial transactions of a business. The process of accounting ranges, from accounting for small businesses, government, forensic, and management accounting, to accounting for corporations.

credit: [ pdr-cpa.com ]