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  #23941 (permalink)  
Old 12th November 2012, 05:16 AM
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Default Re: MarketWatch

Nigerian Firms Lured by London Stock Exchange, Articles | THISDAY LIVE
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  #23942 (permalink)  
Old 12th November 2012, 09:24 AM
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Default Re: MarketWatch

Can someone pls explain to me the meaning of contra asset
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  #23943 (permalink)  
Old 12th November 2012, 10:16 AM
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Default Re: MarketWatch

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Originally Posted by goldsun View Post
Can someone pls explain to me the meaning of contra asset
A contra asset account is an asset account where the balance will be either a credit balance or a zero balance..


A contra account is found on financial statements as an offsetting account to represent the financial flip-side of a figure/asset/liability for book-keeping purposes. Contra accounts typically represent the offsetting nature of debits and credits on a company's financials.

Read more: Contra Account Definition | Investopedia
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  #23944 (permalink)  
Old 12th November 2012, 10:24 AM
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Default Re: MarketWatch

Quote:
Originally Posted by Born 2be rich View Post
A contra asset account is an asset account where the balance will be either a credit balance or a zero balance..


A contra account is found on financial statements as an offsetting account to represent the financial flip-side of a figure/asset/liability for book-keeping purposes. Contra accounts typically represent the offsetting nature of debits and credits on a company's financials.

Read more: Contra Account Definition | Investopedia
I'd read those english, i want explanations
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  #23945 (permalink)  
Old 12th November 2012, 10:27 AM
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Default Re: MarketWatch

Listing Rules for New Company Admission - Proshare
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  #23946 (permalink)  
Old 12th November 2012, 12:54 PM
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Default Re: MarketWatch

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With the level of offers on the floor, it looks like it might continue into the coming week but the bids might just appear out of nowhere. I remain cautious though.
The market seems to be taking a massive hit according to Bloomberg but the price of the big stocks, Dangcem, Nestle, NB, Guaranty, First bank, Zenith bank are all holding up.
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  #23947 (permalink)  
Old 12th November 2012, 04:11 PM
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Default Re: MarketWatch

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Originally Posted by goldsun View Post
I'd read those english, i want explanations
Let me use a contra asset account as an example, remember that you can also have contra liability accounts.

In general, all items on the asset side of a balance sheet should have debit balances. However, some items that are recorded as credits on purpose. These items that are recorded as credits are "contra" accounts. For example, fixed assets on the balance sheet tells you how much a company has spent on acquiring plant and machinery, buildings, etc. However, accounting requires the company to depreciate these assets over time. In order to see both a reflection of what has been spent (fixed assets) and what has been depreciated over time, you need a "contra" asset account, which in this case is accumulated depreciation. Accumulated depreciation is recorded as a credit immediately after the fixed assets line to indicate the level of total depreciation that has been carried out so far.

Another example of a contra asset is "allowance for doubtful accounts" which is a contra asset account to "receivables". So if KoD sells N100M to Goldsun and Goldsun did not pay KoD with cash, KoD records the sale as a credit and debits his "receivable" account for N100M. However, based on past experience with credit sales to other customers, KoD may believe that Goldsun will only pay him N80M. Based on this, KoD may decide to create a contra account called "allowance for doubtful debts". This allowance will be used to reduce the receivables due from Goldsun and in this case will carry a credit balance of N20M.

However, not all line items you see on the assets side with "credit" balances are contra accounts. For example, if you see "cash & bank blanches" with a credit, it is not a contra account, the company is living on overdraft
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Last edited by hispy99; 12th November 2012 at 05:50 PM.
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  #23948 (permalink)  
Old 12th November 2012, 05:28 PM
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Default Re: MarketWatch

Quote:
Originally Posted by hispy99 View Post
Let me use a contra asset account as an example, remember that you can also have contra liability accounts.

In general, all items on the asset side of a balance sheet should have debit balances. However, some items that are recorded as credits on purpose. These items that are recorded as credits are "contra" accounts. For example, fixed assets on the balance sheet tells you how much a company has spent on acquiring plant and machinery, buildings, etc. However, accounting requires the company to depreciate these assets over time. In order to see both a reflection of what has been spent (fixed assets) and what has been depreciated over time, you need you a "contra" asset account, which in this case is accumulated depreciation. Accumulated depreciation is recorded as a credit immediately after the fixed assets line to indicate the level of total depreciation that has been carried out so far.

Another example of a contra asset is "allowance for doubtful accounts" which is a contra asset account to "receivables". So if KoD sells N100M to Goldsun and Goldsun did not pay KoD with cash, KoD records the sale as a credit and debits his "receivable" account. However, based on past experience with credit sales to other customers, KoD may believe that Goldsun will only pay him N80M. Based on this, KoD may decide to create a contra account called "allowance for doubtful debts". This allowance will be used to reduce the receivables due from Goldsun and in this case will carry a credit balance of N20M.

However, not all line items you see on the assets side with "credit" balances are contra accounts. For example, if you see "cash & bank blanches" with a credit, it is not a contra account, the company is living on overdraft
See wetin amnesty money don do to KOD. It has made him soft to the point of him creating an 'allowance for doubtful debts' contra account. If not for amnesty money, oga Goldsun go just receive a visit from some militants and he will go and look for the balance sharperly sharperly. .
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  #23949 (permalink)  
Old 12th November 2012, 08:48 PM
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Default Re: MarketWatch

Capital market indices drop on NSE
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  #23950 (permalink)  
Old 13th November 2012, 02:19 AM
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Default Re: MarketWatch

NSE Hails Firms for Timely Disclosures, Articles | THISDAY LIVE
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  #23951 (permalink)  
Old 13th November 2012, 11:04 AM
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Default Re: MarketWatch

My people, please what's going on with flourmill? are people cashing out? what price would be a fair price cos N60 is not attractive
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  #23952 (permalink)  
Old 13th November 2012, 12:24 PM
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Default Re: MarketWatch

There seems to be blood on customs street.
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  #23953 (permalink)  
Old 13th November 2012, 12:28 PM
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Default Re: MarketWatch

Quote:
Originally Posted by xplicitiyke View Post
There seems to be blood on customs street.
No be small one....
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  #23954 (permalink)  
Old 13th November 2012, 01:02 PM
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Default Re: MarketWatch

Quote:
Originally Posted by xplicitiyke View Post
There seems to be blood on customs street.
which day unna change the name to customs street
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  #23955 (permalink)  
Old 13th November 2012, 01:54 PM
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Default Re: MarketWatch

Starting from next week, I am going to analyze one stock per week, based on the Q3 results, for a few weeks and contributions will be highly welcomed. This way we can discuss the market and maybe SMN can start having impact on the market and thus create some kind of efficiency.

We make or lose money together so nobody will accuse me of chopping alone again...

Caveat: E get some stocks that I will not discuss on my blog that I may hold in my portfolio.
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  #23956 (permalink)  
Old 13th November 2012, 01:54 PM
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Default Re: MarketWatch

Quote:
Originally Posted by xplicitiyke View Post
There seems to be blood on customs street.


WAITING FOR DIAMOND at 3 and FBN at 12.5k... To do massive Mopping up
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  #23957 (permalink)  
Old 13th November 2012, 01:59 PM
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Default Re: MarketWatch

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WAITING FOR DIAMOND at 3 and FBN at 12.5k... To do massive Mopping up
Diamond at N3.00...

*brings out calculator*

PE of 1.8x and PBV of 0.41 on top ROE of 24.4%

A very unlikely scenario, given that efficiency is increasing in the market. The reason the price is going down on Diamond bank, going by the bid and offer value trend, is not based on profit taking but bargain hunting as investors try to pick the stock at the lowest possible price. At a certain price sellers will put a halt.

Impossible is nothing. but Diamond at N3.00
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  #23958 (permalink)  
Old 13th November 2012, 08:33 PM
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Default Re: MarketWatch

Quote:
Originally Posted by goldsun View Post
which day unna change the name to customs street
that is the name of the street where NSE is located. like in US when you say wall street, people go sabi say na money matter
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  #23959 (permalink)  
Old 13th November 2012, 08:49 PM
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Default Re: MarketWatch

Quote:
Originally Posted by pegheneji View Post
that is the name of the street where NSE is located. like in US when you say wall street, people go sabi say na money matter
ok, previously used to hear it being called broadstreet
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  #23960 (permalink)  
Old 13th November 2012, 09:02 PM
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Default Re: MarketWatch

@horlads, are companies now mandated to produce the cashflow. I noticed most company now include it in thier financial result
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