The first time I earned 150k. I thought that was the highest and end of it.
I was always super afraid that "there is no any other company in this country that will pay me more than that as an ND holder with ACA."
But thanks to God's grace and continuous self development. Now,…
Not your regular Isale Eko (Lagos Island) boys.
We gathered to celebrate one of us who graduated from Unilag last week as the best graduating student of his department, breaking record of the highest CGPA in 50years.
If you think "school na scam," come and ask these guys to…
If you are a young accounting and finance professional looking for courses to take in your spare time, I have attached a list of some of the courses I have taken to help me get to where I am today in my work.
Because I thought having a National Diploma would be a barrier to my…
Story time...
I've only managed to complete an ND as my highest academic degree so far in my career. However, I don't joke with investment in knowledge, and even though I am not a student at any higher institution, I still ensure to strive for academic excellence while at work.…
Success in academics isn't just about intelligence, it's about perseverance, dedication, and a burning desire to learn. As Benjamin Franklin once said, ''An investment in knowledge always pays the best interest.'' Keep striving, keep learning, and success will follow!
How did I forget that today marks the beginning of my 9th year in the Accounting and Finance Profession?
🌝🌝🌝
AlhamduliLlahi Robilaalameen for the journey so far.
It's been a tough, yet rewarding journey.
In the last 8 years, I have worked in the following roles and…
After my ND and I had worked for 10 months earning N10k per month. When I was to go back to school, my direct-entry admission didn't click. I couldn't continue with N10k job in 2017 and I knew I couldn't stay at home doing nothing too.
I was restless until I saw a friend who…
This is a very insightful thread.
I want to speak on the subject of capital, not from the angle of starting a business but in regard to graduate school applications.
I met a young man during the JarusFC vs. KPMG match a week ago. He said he knew a good GRE score would boost his…
A single job can change your narrative; keep giving your best shot at your personal development while you are waiting.
The job that improved mine came in 2021, when I least expected it. Came in during one of those low moments.
Got on the job and within about 8 months, I got an…
Practical Accounting with Iwelabi
If you are just resuming a company as a Finance Manager, Head of Finance or Finance Lead, and you are not sure of where to begin your contribution, you can check the below:
1. Assess the entity's current payment requisition process.
i.…
Since Big Brother,
@SirJarus
, posted about Ms. K who shot and her shot, and got an offer. I'm tempted to do the same here for two reasons:
1. Someone might pick one or two.
2. Someone might reach out for further conversation.
OK, let's begin.
Ooops, before we begin, I am only…
KPMG showed me pepper during the early days of my career when I applied to them like 3 times and got to interview stage twice without being selected.
At one point, I had to reach out to one of the partners on LinkedIn requesting that he help me look into why I wasn't selected.…
I was in PwC. I’m a big fan of PwC.
There is also consensus that in Nigeria, nobody touches PwC culture-wise.
KPMG is a little tougher a workplace, but people also acknowledge their technical competence.
Overall, if my brother had offers from the two, I will advise PwC.
I once reached out to a recruiter on LinkedIn during one of my low moments, asking her to recommend me for any VP of Finance, Head of Finance or CFO opening she's got.
Mere seeing my picture, Madam concluded that I needed to start small, like I should first apply for senior…
Each time people get to know that I don't have a . degree, they are left speechless.
I was interviewing for a role and it got to a point where the lead interviewer felt I had too much experience for my age-look. The next question was, "How old are you?" I…
In case you still don't understand what BATNA is, think of it this way:
You are interviewing for a job and you are asking for N100k monthly net. If the company says they don't have N100k to pay you, even if that's the least you are willing to accept, "what alternative do you…
Had a long chat with a Shell Executive earlier today at the Shell HQ. It was energizing. He reminded of a good point: to have a strong hand in negotiations, you need to have a strong BATNA.
Your BATNA serves as the floor. Then you parlay your wins from there.
BATNA = Best…
I joined a firm some time ago, and these 3 things happened.
- Before I joined, they used to outsource their Financial Statements preparation to one of the Big 4 firms. When I joined, I started preparing it myself. Saved a few millions.
- Before I joined, they used a Big 4…
Companies are interested in two things:
1. Maximizing profit
2. Minimizing cost
How has your past initiatives and work experiences contributed to achieving these goals for previous organizations?
When you find the answers, make sure to document and leverage on them during…
I think I can share some stories here.
The reasons why I haven't topped up my ND are in this order: Finance, Time and Relevance.
Here is how:
When I was done with my ND, I attempted to go back to school using direct entry to the university, but it didn't work out. I never…
This was the shot that transformed my career. It was an interesting long story because of the circumstances surrounding the "shot" at the time.
+ A friend saw the job on Linkedin and shared with me on WhatsApp. I'd say
@aremuadeolajr
forced me to apply even when I wasn't in the…
This my friend resumed a job at Amazon as an MBA intern, and my joy knows no bound for this her win.
To everyone hustling to get better offers out there. May God shower His mercies on you all soon, too.
Cheers.
I think going forward, I should start advocating more for "automation" of finance and accounting activities.
To start with, I will list five sets of Excel and Google Sheets functions that I believe every young accounting and finance professional should at least learn today.
Honestly, his humility and love for Islam is just a blessing from Allah.
I got close to Big Brother,
@SirJarus
on the basis of Islam. He's always very keen about encouraging me to keep repping the deen as best as possible.
He was very happy to learn that I left a job because…
Two things I appreciate about him are how humble he is despite how high Allah has elevated him and his understanding of some aspects of the deen.
He could be in a business meeting with business executives in mid week in London and on weekend, he is playing football with manual…
A good colleague here as deemed it fit to create a WhatsApp group for those of us who are Accounting and Finance enthusiasts and professionals alike.
Would retweet the link to the platform once it's dropped.
Looking forward to learning from you all.
Cheers.
After 3 months of rigorous training and a few weeks of wait, finally got the hard copy of my HBSOnline cert.
With my National Diploma, who would have thought I'd be able to afford a course with HBS.
Schooling beyond 4 walls.
#Iwelabi
.
One of those things I love seeing while using X is how those who are "far ahead of us by many standards" still choose to engage us respectfully.
Beautiful stuff!
Hardly would you see senior execs engage your post or comment on LinkedIn, unless you are Big Fish yourself.
LinkedIn is such a goldmine if you are looking for jobs. Just post one or two simple pieces about your field 3 times a week for about 3 months and you are likely going to see at least one recruiter come to your DM for opportunity.
As for X, if you are business person, just…
Accounting Standards with Iwelabi
A brief overview of the practical aspects of managing your
#PPE
.
...
Oleyo: Long time no see, Oga Iwelabi. I'm pleased to inform you that I recently accepted a position as an
Accounting Officer in a
#startup
coy.
Iwelabi: Wow,…
As a big preacher of leveraging what you have to get what you want, I wrote the below short article on
#LinkedIn
some 8 months ago, before I became active here on X.
I hope someone finds it helpful.
"
Iwelabi and the
#Accountancy
#Profession
.
Agree with me: Experience should…
Personal Finance Tips 101
"Charity does not decrease wealth." - The Prophet (Peace and Blessings of Allah upon him)
The more you give, the more it flows back.
Accounting with Iwelabi
Do you know?
Understanding this simple trick will help improve your double-entry technical know-how.
Asset: To increase its value, Debit; to reduce it, Credit.
Liability: To increase its value, Credit; to reduce it, Debit.
Income: To increase its…
Do you know?
Bank Charges aren't Finance Costs.
Why?
- Finance Costs are related to interests on money borrowed or other associated related borrowings like interests on hire purchase or lease.
- Bank Charges are operating expenses.
Cheers,
Iwelabi.
If you want to really test your patience as an Accountant, get on incomplete records and reconciliation assignments.
Even the best of us would remain humble in the face of missing and incomplete data.
Do you know?
These three Accounting and Finance concepts aren't the same.
Financial Accounting, Management Accounting and Financial Management
Financial Accounting: Largely Reporting
Management Accounting: Largely Analysis
Financial Management: Largely Decision-Making
Cheers.
As a passionate Finance and Accounting professional, anytime I find myself in a new city, I am always very glad to locate any of the Big 4 offices around to say "Hi."
Throwback to when I paid a short visit to KPMG Nairobi's office.
If you are a Finance Lead, Head of Finance or new CFO. Or even an Accounting and Finance professional at all, you should check my pin tweet.
Don't only check, please RT for those who might find it beneficial.
Cheers,
#Iwelabi
.
If you are a young accounting and finance professional, you are better off spending 2 hours learning an excel formula that can help you get the job done in 15 minutes than getting the job done manually in 1 hour.
Imagine you need to combine two columns of about 1,000 rows into…
Diary of a young
#CFO
What would you be remembered for?
---
2 weeks ago, my first boss (managing partner) of the audit firm I interned at in 2016 called me out of the blue. I was surprised to see his call, but I know there is nothing to worry about.
Boss: Hello Iwelabi, how…
I got to know about UK degree apprenticeship in 2018. Applied to a Big 4 from Nigeria (EY UK). Got to stage 3 of 4. Internet issue did me strong thing when I was to do an interview recording.
But since that year, I have been exposed to a lot of possibilities so much that I…
If you have brought your children to the UK, this is important information as they become teenagers. Please RT and share.
As your children approach University age, it is important to know the options available to them. Average student loan debt in the UK is more than £30,000 for…
Each time people get to know that I don't have a . degree, they are left speechless.
I was interviewing for a role and it got to a point where the lead interviewer felt I had too much experience for my age-look. The next question was, "How old are you?" I…
This was from Accounting Yard 2 years ago.
My response that year:
---
I've always wanted to share some pointers on how I handle double-entry postings at work.
Thanks to Accounting Yard, they provided a good scenario that I can use to explain this.
....
Whenever you want to…
Below is a "na-me-na-you" template I built some years ago as a junior accountant who managed cash deposits and other cashier-related responsibilities.
Guess what?
I built it for counting money. Yes, you heard that right. I used excel to count the cash I collected from…
Not a big fan of "hard labour work." Once I join your finance team, no story; we are automating major parts of our processes, if not all.
Thanks to Nifemi Esan, my VP of Finance from back then, who gave me the freedom to manage and direct our team. I indeed flexed my muscles on…
My Accounting and Finance People, this one is for us.
"ACCA discounts for ICAN members!!!!
The below amount is valid till 31st May 2024!
• Free subscription for two years, meaning candidate saves £197 i.e. N325,050.
• N16,500 per paper for exemptions, instead of £58…
Accounting 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…
Finance Manager needed in an Ed-Tech startup.
• Be super good at Financial Reporting
• Comfortable using QuickBooks and Sage
• Ability to think outside the box
• Strong informed decision-making skills.
• Location: Yaba, Lagos.
Pay: N450k to…
Very brilliant questions here.
Let me answer this via storytelling. I hope people benefit.
I take courses for two major reasons:
1. To increase my knowledge of a subject matter
2. To increase my earning
@Iwelabi1
please what are the reason you take course. It is becoz you need it right now for a task or for upskilling sake.
Also how did you derive knowledge from the course and not just watch it and not gaining anything. 🙏🙏🙏🙏
I was 26 when I made my first million, and it was super unbelievable because it was coming from my then-9-5, I would have argued that I could make such myself, but I was a super-hungry risk-taker right from my early twenties.
- I could go months without a full-time job. Just…
Accounting with Iwelabi archive:
---
In today's episode of Accounting Standards with Iwelabi, we will examine the applicability of IAS 2 - Inventory using an interview role play.
...
Chidi: What Accounting Standard can you discuss with ease?
Iwelabi : (with a smile on his…
Inventory is measured at the lower of cost and net realisable value (NRV). I’m sure you know that, but for the purpose of those that want to know more, we will be covering Inventories - IAS 2 in this week’s
#AccountingStandardSeries
Accounting & Finance Teaser with Iwelabi
Oleyo Inc. purchased a truck for N500k. Paid N200k for the truck papers; additional N200k for custom duties; N100k to put the truck in a usable condition, and finally spent additional N100k to learn how to drive the truck.
Truck…
- If you must be a great accountant, you must learn to ask the right question.
- When everything is not adding up, just follow the money.
- If you can't pay attention to details, don't be an Accountant.
- "Zero - 0" has no value but be careful with where you place it.
Many Non Accounting Professionals often take any inflow that enters into one's account as income. That's where the flaw begins.
You hear people say something like Accounting is 1 + 1.
Revenue is a complex thing for some accounting students not to talk of non accounting…
Revenue basically is income generated from sale of goods or services related to the business’ PRIMARY operations.
- Revenue: income from what you are primarily in business for (eg sale of bread is revenue to a bakery because they are in business to make bread and allied…
To the young accounting and finance professionals in the house, please check my pin tweet.
I have dropped a little piece for our use.
This particular one is on "how to comfortably display our accounting standards knowledge in interviews."
I hope we find it interesting.
A number of young professionals have asked me several questions on CV Writing, including:
Iwelabi, how should I structure my CV?
What should come first and what should come last?
Can I include my picture in my CV?
can I include my grade?
Etc.
Response:
Please see what my…
My career cheat code.
+ I invest a lot in personal and professional development.
+ My watchword for earning is "Allah is Ar-razzaq."
You see, with those two, no matter how much I am earning on a job, if it challenges my personal beliefs and values, I'd gladly leave it without…
Why is Omo Alhaja doing like this na. 😂
Now, people will think we own the money that we are watching and counting on behalf of others.
Each time I talk about how difficult my role can be as a VP of Finance. My Tech Bros friends always wonder how. This is not to say Finance is…
The kind of
#Accounting
and
#Finance
contents I hope to drop here in the next couple of months ehn, if you like, forget to turn on your post notification.
If our Ogas at the top of their careers are giving their best shots for the sake humanity and we can see it well clearly, why wouldn't we, the younger generations, not be motivated to make meaningful impact in our little space?
Many Congratulations, Doc!
All the very best, Sir.
After a rewarding 12-year journey, I am leaving the corporate world to embark on a new path as a social entrepreneur. My professional life and personal life are now united by the same purpose: I aim to make people more prosperous while ensuring that their prosperity doesn't harm…
Imagine being recommended to undergo a recruitment process with Microsoft.
What would be the outcome? Have you armed yourself with the required skill set? How well can you sell yourself?
During my
#interview
with the MD of one my former firms. A scenario ensued after she…
I wanted a PhD in my accounting career but when I couldn't even get a easily, I resulted to working in the field early enough. Today, people assume I know accounting so much that I must have a PhD in it or must have schooled abroad. I only had ND from FPI.
Our 9-5er Global Head of HR.
Many thanks for the call, Ma'am.
Appreciate it 💯.
Looking forward to more areas of collaborations that benefit our 9-5er community here.
Cheers.
I had an hour-long phone call with
@Iwelabi1
earlier today. I have to say, he's incredibly knowledgeable and really knows his stuff. If you need anything related to accounting or finance, he's the person to talk to!
You are not always the problem. Take it easy on yourself.
Story time...
Wrote the below sometimes ago. I hope you find it helpful.
---
I don't know what you are going through, but you might want to follow and read some of the stories I'll be sharing with us over the next…
Wrote this some time ago on
#LinkedIn
. Hopefully some of my audience here find it motivating.
--
Iwelabi and the
#Accountancy
#Profession
.
Agree with me: Experience should be based on the depth of one's hustle, not just age or years of repetition.
My
#accounting
and
#finance
…
#ThrivingThursday
Someone asked, what's your backstory?
My response:
I wanted a PhD in my accounting career, but when I couldn't even get a easily, I resulted to working in the field early enough. Today, people assume I know accounting so well that I…
#Accounting
with Iwelabi
Back then, one thing that often caused us trouble was having to do the math when we were told that the price of a transaction is VAT inclusive and we needed to figure out the VAT and the Revenue Amount.
I thought it was a thing of the past, until…
#Career
Chat with Iwelabi
On Overcoming the Fear of Starting a New Role
Starting a new job or resuming a new position can be a daunting experience. Even the most experienced professionals may feel a sense of self-doubt or second-guessing when stepping into unfamiliar territory.…
Go ahead and you won't regret it Bi'idniLlah.
AlhamduliLlah. Done similar thing in the past and today. I am way better off.
Just before people discourage you that it's not possible for anyone to leave such an amount. Trust me, some people have left something bigger for Allah…
1. Follow the money: ensure you have classified and account for all cash inflows and outflows.
2. Identify Accruals, Prepayments and Non-Cash items: Ensured you have correctly recorded all accrual related transactions, all prepayments have been correctly posted and depreciation…
Dear Young Accounting and Finance Professionals,
As young professionals, you must always remember the fundamentals (debit and credit), unless they are completely irrelevant to what you are currently doing. Even so, you must ensure that you participate in continuing professional…
You are already on track with your existing profile and your stated career goal of working for one of the Big 4.
To make things easier, let's look at what you need to be a successful CFO in a few buckets:
Story time
I wrote the below about a year ago:
---
"The more successful someone is, the more failures they have stacked up to reach their heights."
-Depesh Mandalia
I saw the above quote on one of my friend's WhatsApp statuses, and I can't stop thinking about my journey in the…
Chief, please permit me to use this to share an important lesson on Stakeholders Management as it relates to daily life.
---
We all learn stakeholder theory in MGE; if we go back to that, it has some important life lessons around relationships and our interactions with others.…
Being left on read can be frustrating, especially when it seems like the other person is active. It can feel like they're ignoring you or not valuing your conversation.
But it’s important to know that others aren't responsible for our emotions.
So, I’m learning to deal with it.
AlhamduliLlah!
I was so deliberate about not coming here until I was done with this (spent roughly 7 hours completing my final module earlier this noon).
It's my second time having a run with Harvard Business School Online, and the experience still remains one of the best!…
My career cheat code.
+ I invest a lot in personal and professional development.
+ My watchword for earning is "Allah is Ar-razzaq."
You see, with those two, no matter how much I am earning on a job, if it challenges my personal beliefs and values, I'd gladly leave it without…
Due to popular demand and for the sake of some of the people who are just getting to know about our handles,
@richardokunolar
and I have decided to reopen the application for our mentorship programme to begin later this month for our new followers here.
Below is the application…
Looking forward to taking your accounting and finance career to the next level?
Here is a highly recommended opportunity to help you with just that.
Please see the flyer for more details.
Link to apply:
Cheers,
#Iwelabi
.
If some of us enter this 9-5 matter, we go just scatter the table with some unimaginable experiences, and some will beat their chests that we are blatantly lying.
I was at a workstation in Abeokuta last month, getting ready to prepare for my current Harvard course, when this…
Just before the weekend begins, let's have this.
#CareerChat
𝐰𝐢𝐭𝐡 𝐈𝐰𝐞𝐥𝐚𝐛𝐢
𝘈𝘳𝘦 𝘺𝘰𝘶 𝘴𝘵𝘪𝘭𝘭 𝘵𝘳𝘺𝘪𝘯𝘨 𝘵𝘰 𝘧𝘪𝘯𝘥 𝘺𝘰𝘶𝘳 𝘧𝘦e𝘵 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘦 𝘤𝘰𝘳𝘱𝘰𝘳𝘢𝘵𝘦 𝘸𝘰𝘳𝘭𝘥?
𝘛𝘩𝘪𝘴 𝘪𝘴 𝘧𝘰𝘳 𝘺𝘰𝘶.
If you know that you are just starting…
I wanted to do a very simple thread on IAS 7 - Statement of Cash Flow earlier this morning but I don't know why I am not yet feeling the vibe. Like something really simple for anyone reading to understand.
The storytelling perspective for those who might find the previous one boring.
Conversation between Iwelabi and his new intern.
Iwelabi: Hello, AbdurRazzaq (AR). How are you today?
AR: I am fine, sir. Thank you. I am very glad to finally be joining your team 😊.
Iwelabi: You…
I think going forward, I should start advocating more for "automation" of finance and accounting activities.
To start with, I will list five sets of Excel and Google Sheets functions that I believe every young accounting and finance professional should at least learn today.
Long thread but hopefully you enjoy it.
First, I am a Muslim, so in everything I do, I hold God-factor constant. Thus, AlhamduliLlah for the mercies over the years.
Theoretically speaking, I'd say the following has continued to helped my career to date:
If you are a mid-level professional working towards becoming a senior, a simple hack might be to get better at using industry-specific terminologies when having conversations with executives.
It creates another level of flow that helps them have trust and confidence in you.
Tayo, one of our mentees at Mentorship Corner,
@mentorshipcnr
, has sure made us all proud by emerging Best Graduating Student of her department.
I have continuously witnessed Tayo grow for about 5 years now and I am super proud of her growth.
Looking forward to more exciting…
BismiLlah!
Another professional development journey begins today.
It's time to finally take my negotiating skills to the next level as a young
#CFO
.
Looking forward to an amazing learning experience one more time at
#HBSOnline
Cheers,
#Iwelabi
I shared this lesson with our mentees at Mentorship Corner during one of our last sessions.
One of our mentees who works in a multinational had come to report a situation where a colleague was considered by one of the HRBPs for an open senior role within one of the entity's…
True story - one that introduced me to one of the nuances of corporate politics!
Post-NYSC, I interned with this edutech & was in a science team of 3 interns, all first class grads.
We all studied "unrelated" first° disciplines & like with all internships, it was probationary.
Learn Financial Modeling and Business Valuation for Free!
In this 2-hour intensive session you’ll get:
- Comprehensive overview of financial modeling techniques.
- Flexible Approach to Building Monthly Operational Financial Model.
- Real-world case studies and practical…
Good question.
When you don't have work experience, prioritize bringing your education history first, followed by your skillset or other qualifications, and you can have some areas of interest included.
Typically, when I write CVs for undergraduate and recent graduates, I…
#StrivingSaturday
If you are just starting your career or in your first five years and everything doesn't seem to be making sense. Don't worry, just keep forging ahead, everything will eventually come together to make a perfect sense.
Between 2016 and now in my professional…
There was a time in my career that I got a job in a finance house (Asset Management) without knowing it has anything to do with "interest." Normally, since I started my career, I don't apply to banking jobs or any job that has to do with interest until I entered this unknowingly.…
At Deloitte, a colleague in my team contemplated resigning because he was tired of tax and wanted to transition to data analytics; he had plans to relocate to the UK with his young wife. Juggling studies and a full time job wasn’t appealing to him.
I didn’t think it was wise to…
The last time that I said on a Twitter space (talking about Personal Finance) that I got an advance at work to pay my rent, both the moderator and the guest speaker nearly wound me. I heard stuff like God forbid. (Lol. See people talking about personal finance.)
The guest…
Until I became an accountant, I viewed debt as something to avoid at all cost.
Now, I see certain debts as ‘nice to haves’. Sometimes, I’ll rather buy stuff and pay in installments even though I have the cash, because my maths often show me that my cash can yield higher return…
As a passionate Finance and Accounting professional, anytime I find myself in a new city, I am always very glad to locate any of the Big 4 offices around to say "Hi."
Throwback to when I paid a short visit to KPMG Nairobi's office.
1. Invest in yourself and others (knowledge, health, etc)
2. Be an early risk taker.
3 . Leverage as best as you can (don't shy away from taking non-interest loans).
4. See investment in every kobo you spend and track your spending.
5. Do away with "aimless savings", if you…
My Accounting and Finance People,
What automation effort did you attempt today?
I had used a combination of "QUERY and IMPORTRANGE" in the last couple of weeks.
Looking forward to taking your accounting and finance career to the next level?
Here is a highly recommended opportunity to help you with just that.
Please see the flyer for more details.
Link to apply:
Cheers,
#Iwelabi
.
How I wish I can still go back to learning to prepare my Management Account with just "one click" using VBA.
There are a lot of ways to make life easier for professionals than many are aware of.
I always tell my guys, "anytime you are spending too much time on a task, just know…