Functions of Banks
This lesson covers the functions of the Central Bank of Nigeria, commercial banks, and specialized banks. It explains the types of bank accounts, forms of payment, and the differences between commercial and specialized banks. The origin of the Central Bank of Nigeria is also discussed.
- 12:00 “Then it attracts a favorable rate of interest that is, instead of paying commission to the bank unlike the, that is like the current accounts holders. The bank pays them a sum of interest over time for keeping it for sav...”
- 09:38 “features of a current account. Now money can be drawn frequently from a current account as per your need, as per when you need it. Now customers are entitled to the use of checkbooks. Payments of commission is made by th...”
- 11:14 “That is, pass a specified sum of amounts into their account. Then also a checkbook will be given to the customer for his personal transactions going forward. Now let's take a look at savings accounts. This type of accoun...”
Financial Institutions Overview
This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.
- 04:16 “The types of banks, the major types of banks include those listed under the banking financial institution. That is these. All these institutions here are also those included under types of banks. Now let now explain the...”
- 06:38 “require them if they are able to meet their requirements. The agent of payment that they serve as agent of payments for their customers for instance those customers who have current accounts in commercial banks they just...”
- 09:10 “banker to the government that is it serves as banker to the government the government operates accounts with the central bank. Issues and control of currency they are the only bank authorized by law to issue currency and...”
Departmental Accounts
This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as
- 00:10 “Hello viewers, you're welcome to Financial Accounts class, and Mrs. Oyiniloye. The topic we're taking today is departmental accounts. At the end of the lesson, learners should be able to want to define departmental accou...”
- 00:56 “but there are some organizations that have different departments working on that then. And so it's important to be able to prepare the accounts of those departments. We have examples of such organizations like Shoprides,...”
- 09:31 “Some questions even ask for all these things. So you need to sit down and study closely. Let's look at the formats of a departmental accounts. The departmental accounts is usually prepared in a columnar form with separat...”
Types of Occupations
The lesson covers the definition of occupation and the various types of occupations. It explains industrial, commercial, and service occupations, along with examples of each type.
- 03:51 “Banking, at least you've seen different types of banks. We have access bank, we have GTV and the rest. And advertising. The regular advertisements you see on your TV. So they help you. They help you want that particular...”
- 00:47 “The regular things you see out there, the biscuits you see out there, the chocolates you see out there, the cakes you see out there, those are goods. Services are what you experience when you go to the bank in order to e...”
- 00:02 “Good day, my name is Christina, and I'm your commerce teacher. Today, we'll be looking at career opportunities. For this topic, after this topic, you should be able to define what occupation is and identify the various t...”
Public Sector Accounting Overview
This lesson covers the definition of public sector accounting and its importance. It explains the sources of government revenue and classifies expenditures into capital and recurrent. Key concepts and terms related to public sector accounting are also discussed.
- 00:00 “Hello viewers, I'm Mrs. Oyinloye, and I'm your instructor for financial accounts. Our topic for today is public sector accounting, behavioral objectives. At the end of the lessons, students should be able to define publi...”
- 06:17 “Then local authorities, such as the local government also want to know what comes into the accounts of the government. Business of governments accounting. We have the cash basis and a cruel basis. What do we mean by a ca...”
- 07:06 “That means we don't prepare our accounts based on the fact that there are some people all in us, such as debtors or that we are all in some people, such as creditors. Our accounts is prepared based on amounts that comes...”
Public Sector Accounting: Revenue and Expenditure
This lesson covers sources of government revenue and explains terms related to public sector accounting. It classifies expenditures into capital and recurrent categories and provides examples for preparing statements of revenue and expenditure.
- 00:00 “Hello viewers, I'm Mrs. Oyinloye and I'm to take you financial accounts. The topic we're looking at is public sector accounts part four, behavioral objectives. At the end of this lesson, Learner's will be able to differe...”
- 04:54 “quickly prepare the question. Like I've explained to you, statements of capital expenditure will include all those items that are capital in nature. While statements of recurrence expenditure will include items that are...”
- 11:29 “that we have here, which you have been given already, and you have the items of expenditure and you prepare your statements of capital and revenue expenditure. Thank you for watching. I'm Mrs. Zoe Luier. Till next time.”