gobuchinny:


This is a very ignorant post..y r you acting like Oyedepo is doing Nigeria a favour? don't you know the person that benefits most from this is Oyedepo? is the school free? is the school subsidised?

This a business like any other business..i know because my family owns a school in Lagos that generates million every quarter...what is all this rubbish like we should clap that a great thing has been done..

These schools are built with tithe and offerings of the people and privatised to personal business and you are here talking like a great thing was done..should we clap for him

I appreciate it when I read post like this, it gives me joy to know that there are still persons who can reason coherently and logically

CodeTemplar:
Does winners say or allow that? Prove it if you say yes.

I don't care about your losers winners. I'm talking about churches in general

CodeTemplar:
Mr accounting professional, is land and building part of intangible assets as you implied? back up your claims and stop running.

Quote me any where I said land and building are intangible assets

I know I said too many things for your brain to comprehend so u mixed things up..please go back and read ALL my mentions and quote anywhere I implied land and buildings are intangible ..if you find send me you akkant number I will send you 20k and you have my word..

CodeTemplar:

The churches that sent missionaries are still operating today and the sensible question to ask is how many of them charge less than Winners or nothing? Please research this well before typing back.

Your govt that used to do similar thing too is trying to offload education subsidy from their neck also. That should tell you something. Life isnt by crowd mentality but by logic. Part of maturity is the ability to accept thing for what they are whether it favours you or not.

If you read my post properl, you will find out that I was not particular about winners or any church. I referred to all the churches. You should also research to find out if what I said about the missionaries and how churches should be impacting the community especially the poor is true or not.

CodeTemplar:

Oga, before you shout like a man with kidney in the skull, know these:

Faith Academy in Delta state was built with well over a billion Naira and it they cant recover the initial capital spent in two decade freom fees going by the population of the school and what they pay teachers alone.

Be guided and do proper research before hating on people you don't know.

This pattern of subsidy doesn't stop at the that particular FA alone but is being replicated in many FAs across the continent. Same pattern is present at the universities (CU and LU) also and I wonder what you stand to gain be rubbishing the efforts of a good man who didn't force himself on you like Buhari is doing.

By the way, what is the name of your profit family owned school in Lagos? State it, and let's do a side by side comparison of the school with one of the Faith Academies. Let's compare the fees, facilities and staff ratio to see just how profitable school businesses are.

You sha get their time.. all na scope, listen if your government fails, you:
1. blame devil. just like accidents are caused by blood sucking demons but not evil contractors/irresponsible government.
2. blame "16 years of PDP".
3. blame the Church leaders.. you know they ought to build factories, build airports, roads and employ the numerous graduates.
while the fools using tax payers money to enrich themselves and sponsor thugs/cultists are the real visionary leaders, Master strategist, this & that.
Let's assume a bullion van was seen at this bishop's house.... Nigerians no go rest, by now police, DSS, Media houses for no let am sleep.
Once again Na you get their time

school for d rich

Samunique:
Thanks @op, I was one the people who worked on PH school in Etche .

What a sweet memory !!!

Please sir what is the pay for teachers like and what was the fees when you worked there?

I am asking because some people are comparing these schools to imaginary bamboo schools in Magodo, Lagos.

AKzee:
They only employ Christian teachers. SMH

It's a religious/faith based school, I.e a Christian school. I guess they will only think of employing a traditionalist or a Muslim if there's no Christian to fill the space for the specific subject.
I'm assuming they hold services and fellowships their teachers also partake in.

na secondry school be like university so.. i hope say poor man children fit attend this one

gobuchinny:


Very powerful quote from Elumelu..does are the people Nigeria is indebted too..not all these fraudsters using the free gospel to privatize business that their dumb and lazy members cant even afford...free gospel ooo..gospel somebody else died for them don commercialise to set up their generations for ever..

Money is indeed silent

Idiot why didn't you make your father's school free for the poorest in society. What CSR has ur school done for Nigeria. You reap profit from the so called poor and probably offer substandard education therefore thinking everyone is like you... The oyedepo you talk about has offered free education to over 1000 people which person hv u schooled for free.

chemgee:


You sha get their time.. all na scope, listen if your government fails, you:
1. blame devil. just like accidents are caused by blood sucking demons but not evil contractors/irresponsible government.
2. blame "16 years of PDP".
3. blame the Church leaders.. you know they ought to build factories, build airports, roads and employ the numerous graduates.
while the fools using tax payers money to enrich themselves and sponsor thugs/cultists are the real visionary leaders, Master strategist, this & that.
Let's assume a bullion van was seen at this bishop's house.... Nigerians no go rest, by now police, DSS, Media houses for no let am sleep.
Once again Na you get their time

Those guys have their kidney in their skulls. They assume govt and church have di.cks and rape ladies to produce poor children in the society. To them, people plan out their poverty consciously and even have insurance policy covering it.

HigherEd:

Idiot why didn't you make your father's school free for the poorest in society. What CSR has ur school done for Nigeria. You reap profit from the so called poor and probably offer substandard education therefore thinking everyone is like you... The oyedepo you talk about has offered free education to over 1000 people which person hv u schooled for free.

The heavy duty mumu could have googled davidoyedepofoundation for a start but hatred has darkened his brand new/unused brain.

gobuchinny:


Quote me any where I said land and building are intangible assets

I know I said too many things for your brain to comprehend so u mixed things up..please go back and read ALL my mentions and quote anywhere I implied land and buildings are intangible ..if you find send me you akkant number I will send you 20k and you have my word..

you implied it . . . .never said you post it directly. English language, Mr School Owner.

1Sharon:


I don't care about your losers winners. I'm talking about churches in general

In a threads for Winners Faith Academy school?

CodeTemplar:
In a threads for Winners Faith Academy school?

Yes. I only came here cos my bullshit detector exploded

the topic was posted for everyone to see and comment

1Sharon:


If you are on a low income you pay NONE of those.

Don't even try to compare paying taxes to paying the full amount for a service

I like how you ignored the part on free healthcare in Nigeria

Someone is paying for the supposed 'free' education and health care you enjoy in the UK. Its not exactly free. Someone's tax is paying for those freeloaders who don't work yet have access to all these 'free' things. Nothing is really ever free.
We are waiting for Brexit, and we'll see how things pan out in the UK. Many industries are already leaving in preparation for brexit, to tax friendlier countries.
A lot of services are being cut off from the NHS, and their citizens are having to go private health care now, save for emergency services.
A lot of their public schools are a joke now, and private schools in the UK are better than public schools. Grammar schools for the secondary schools are govt owned and good, but are only for an exclusive few ( The brilliant ones), and majority of others have to go to the public schools with little or no discipline. Things are changing dramatically now. Their children are no longer going to universities because of student loans which can kill. They don't produce enough Drs anymore, and are relying on Asian and African Drs to sustain their workforce in the healthcare.
Nothing is free in this life, and definitely not education.

1Sharon:




Yes. I only came here cos my bullshit detector exploded

really?

HigherEd:

I have been looking at your funny posts with amazement of how wrong you could be.

First and foremost, Living faith schools belong to World Mission Agency, an arm of LFC worldwide. It doesn't belong to any individual but the church so all ya analysis is a waste.
There are tons of high revenue generating endeavours oyedepo can do to make money, buy oil well, real estate(housing, hotel), telecoms, banking and aviation but he only ventured into school because he loves education. School business is for averagely rich people not the super rich. Reason why dangote, otedola, adenuga and co don't own schools.

Your post is beret of wisdom...World Mission has majority shareholding as who? LFC has majority shareholding as who? don't be deceived by all the bureaucracy jargons...its owned by Him and His family..there incorporate it to go corporate for greater reach and accountability but that does not mean its not owned by him...World Mission cannot sneeze without Papa approving the sneeze

Who told you Oyedepo only ventured into only school business..the funny thing is how ignorant even the members are...Oyedepo has business venture you and every lower cadre member will never know

Dont be silly about the education business ...its easier for a church to venture into the educational arm than any other business because of the already existing human capital but i wonder if you understand what you just read..

Thats y churches and schools have always been 5 and 6..

School business can be done by averagely rich and the super rich...which is evident in the fees paid sir..

Oyedepo has no flare for education if it wont profit him..people that have flare will subsidise it or make it free..the UK government have flare for education

CodeTemplar:
you implied it . . . .never said you post it directly. English language, Mr School Owner.

HAA ..how did I imply it ..everything you draw conclusions from must be what I posted naaw.

Show me the implying post

All talk no substance...

If I implied such like how you linked amortization to land then I must go back to my economics teacher and collect my tuition fees for that course

gobuchinny:


How else do you wanna know a mans motivation if not to follow the money? do you know how much CU charges? do you think going to CU comes cheap?..

Don't know how much FA charges but I know it will be above the average

If the schools were free like what Awolowo did or what the early missionaries did..then I wont even be on this thread my brother

But telling me to celebrate or appreciate someone who is running a business and providing a service that people are paying for at a premium is an insult to my intelligence.

I really don't blame Oyedepo but our useless and selfish government..the man saw a need and filled it..demand and supply..simple economics..

its a way of diversifying the much cash that is generated every sunday..too much cash needs to be plunged into fixed assets that generates current assets..real business men know this principle..

Like I said..its similar to money laundering or washing your money in the laundry so it becomes clean...fraudster buy hotels do you think dey buy it to recover their principal amount?? no rather its to hide the cash in the assets while generating whatever liability that comes with it..

Its a win win for them and if they ever become broke again they sell the real estate at above the FSV for which it was purchased in the first place

just look at your logic, do you know a software called comsol for multiphysics is 140,000 pounds just for license alone. Only one software. Imagine having licences for several of them how much it would cost. Do you know much he pays staff, even a russian trained professor is the vc of convenant. So you want him to pay the young man 600k naira. Someone that has seen millions of dollars as grant alone. See the way you think and the way oyedepo think is like the distance between heaven and earth. Almost all the apps that are making wave in Nigeria are done by his students. That man is a great man, he is not like your politicians. Infact in 10 years time convenant university would dwarf all the public university in Nigeria combined. His vision is bigger than yours. Just look at ordinary primary school the lab alone is better than most schools in Nigeria. Let Him charge 1billion for school fees if you cant afford it go to imsu. Do you know how much govt subsidizes education thats why ASUU strike would never end because the money for education is going into subsidy remove subsidy increase fees and watch univeristies compete globally. Finally oyedepo doesnt care about your money, people beg him with cheque. People kneel down just to give him money. When you serve God from the heart he would change your thinking you would see that money is not everything.

HigherEd:

Idiot why didn't you make your father's school free for the poorest in society. What CSR has ur school done for Nigeria. You reap profit from the so called poor and probably offer substandard education therefore thinking everyone is like you... The oyedepo you talk about has offered free education to over 1000 people which person hv u schooled for free.

we actually do CSR and offer subsided scholarships for staff children..they pay about 25% of tution..we have some students that have been given scholarship from the community but on merit..

But remember we are a real business and got the seed capital from our family balance sheet so we must break even..Oyedepo on the other hand stole the commonwealth to set up a school that will generate proceeds for him and his generations for ever

A school that the poor and wretched members and trust me there are many in that church cannot attend

What a scam..you tax the people and the same people cannot attend the school..people that give their all..some drop all their monies in the basket and walk home and remain poor.....atleast make it free for the members forget the non members.

Slave mentality and you expect us to thank him...taaaaaaaaaa…

WAKE UP

deji17:


Is Oyedepo even paying taxes to Govt from the money he realised from these schools

what money?

jesmond3945:
just look at your logic, do you know a software called comsol for multiphysics is 140,000 pounds just for license alone. Only one software. Imagine having licences for several of them how much it would cost. Do you know much he pays staff, even a russian trained professor is the vc of convenant. So you want him to pay the young man 600k naira. Someone that has seen millions of dollars as grant alone. See the way you think and the way oyedepo think is like the distance between heaven and earth. Almost all the apps that are making wave in Nigeria are done by his students. That man is a great man, he is not like your politicians. Infact in 10 years time convenant university would dwarf all the public university in Nigeria combined. His vision is bigger than yours. Just look at ordinary primary school the lab alone is better than most schools in Nigeria. Let Him charge 1billion for school fees if you cant afford it go to imsu. Do you know how much govt subsidizes education thats why ASUU strike would never end because the money for education is going into subsidy remove subsidy increase fees and watch univeristies compete globally. Finally oyedepo doesnt care about your money, people beg him with cheque. People kneel down just to give him money. When you serve God from the heart he would change your thinking you would see that money is not everything.

Bros your point fruther emphasises my points that its a business..simple so no one should come here and expect us to thank him...his spending money to make more money sir..

Im a business man and i know this..anyone saying his doing this because he loves education is greatly deceived..the man is a business man..its called diversification of income...i give it to him..his smart and intelligent..and a business man in to make profit

You say money is not everything but yet the fees are over the roof..

Also remember that the monies gotten from the services on sunday alone can cater for operational expenses for his schools so he can actually afford to make it free or atleast subsidize it..but greed wont allow him

gobuchinny:


Quote me any where I said land and building are intangible assets

I know I said too many things for your brain to comprehend so u mixed things up..please go back and read ALL my mentions and quote anywhere I implied land and buildings are intangible ..if you find send me you akkant number I will send you 20k and you have my word..

gobuchinny:


You are an ignorant man

Amortization is for intangible assets and can never be used for fixed assets like land while depreciation cannot be used for land in the company balance sheet bush man and fake economist thats y Papa is always knocking your head on the wall because you are not smart ...

Depreciable properties include vehicles, real estate (except land), machinery.......

Be smart and stop forming wisdom when you lack it

land is depreciating asset for schools.

Crooked pastor

CodeTemplar:
The heavy duty mumu could have googled davidoyedepofoundation for a start but hatred has darkened his brand new/unused brain.

You are not smart my man..even yahoo boys have foundations..atheist have foundations

So whats special in your man of gold having a foundation? the free masons have foundations even ogboni has foundations

CodeTemplar:
land is depreciating asset for schools.

Land is not depreciated because land is assumed to have an unlimited useful life. Other long-lived assets such as land improvements, buildings, furnishings, equipment, etc. have limited useful lives. Therefore, the costs of those assets must be allocated to those limited accounting periods

But I know you can never understand the above statement but let me leave you in that state of confusion..you will come and say that I implied that the limited accounting period is the cost of fixed assets

jesmond3945:
just look at your logic, do you know a software called comsol for multiphysics is 140,000 pounds just for license alone. Only one software. Imagine having licences for several of them how much it would cost. Do you know much he pays staff, even a russian trained professor is the vc of convenant. So you want him to pay the young man 600k naira. Someone that has seen millions of dollars as grant alone. See the way you think and the way oyedepo think is like the distance between heaven and earth. Almost all the apps that are making wave in Nigeria are done by his students. That man is a great man, he is not like your politicians. Infact in 10 years time convenant university would dwarf all the public university in Nigeria combined. His vision is bigger than yours. Just look at ordinary primary school the lab alone is better than most schools in Nigeria. Let Him charge 1billion for school fees if you cant afford it go to imsu. Do you know how much govt subsidizes education thats why ASUU strike would never end because the money for education is going into subsidy remove subsidy increase fees and watch univeristies compete globally. Finally oyedepo doesnt care about your money, people beg him with cheque. People kneel down just to give him money. When you serve God from the heart he would change your thinking you would see that money is not everything.

100 likes

gobuchinny:




Land is not depreciated because land is assumed to have an unlimited useful life. Other long-lived assets such as land improvements, buildings, furnishings, equipment, etc. have limited useful lives. Therefore, the costs of those assets must be allocated to those limited accounting periods

But I know you can never understand the above statement but let me leave you in that state of confusion..you will come and say that I implied that the limited accounting period is the cost of fixed assets

it is depreciated in the books . yes or no?

CodeTemplar:
land is depreciating asset for schools.

so from these my quotes you quoted are you saying I implied that intangible assets are linked to land??

Mehn your case na sorry

gobuchinny:


You are not smart my man..even yahoo boys have foundations..atheist have foundations

So whats special in your man of gold having a foundation? the free masons have foundations even ogboni has foundations

Do they also have schools? mumu boy

CodeTemplar:
it is depreciated in the books . yes or no?

so from my explanation are you telling me you don't still understand my position

You ask alotta silly questions I wonder how your lecturers coped