Department of Accounting

SUMMARY OF COURSES 

COURSE CODE: ACC111

COURSE TITLE: INTRODUCTION TO ACCOUNTING I

This foundation course in Accounting aims at exposing the students to basic techniques of classifying and recording the different types of cost and revenues associated with transactions and compiling simple financial reports. Topics covered in this course include: Brief history of the development of accounting, definition, branches of accounting, users, uses and qualities of accounting information; basic accounting concepts, procedures and practices; measurement of assets, liabilities, income and costs, accounting equation, book keeping (books of primary entry, ledgers, bank reconciliation statements,  etc); the trial balance ; uses of suspense accounts, preparation of financial statements; differences between cash and trade discount, reserves and provisions, etc.; conceptual framework for the preparation and presentation of financial statements, introduction to SAS 1 & 2 and other equivalent IAS, IFRS etc

COURSE CODE: BUS 111

COURSE TITLE: INTRODUCTION TO BUSINESS I

This course describes the nature and scope of business; Concept of business and administration; explains the kind of businesses. It explains types of businesses; who a consumer is; explains different business environments, discusses various legal issues in business; the role of government in business; explains the ethics and responsibilities of a business; the character of business from social, legal and economic perspectives; forms of ownership, organization and management; marketing, production finance and accounting functions; government and Business; the social responsibility of Business, problems of Nigerian Business enterprises; government and Business; the social responsibility of Business, problems of Nigerian Business enterprises. It also discusses accounting in business, how communication helps in the business. Analyze the roles on business concern; role of insurance in business.

COURSE CODE: ACC121

COURSE TITLE: INTRODUCTION TO ACCOUNTING II

Pre-requisite ACC111

This course is a more detailed treatment of topics discussed in ACC111. Attention will be focused on the preparation and presentation of simple financial statement for sole trader, partnerships and limited liability companies. There is also a discussion of the elementary accounting theory relating to depreciation and inventory valuation, end of year adjustments, introduction to manual, mechanical and electronic system of bookkeeping, introduction to SASs, and IAS, IFRS etc.

COURSE CODE: BUS 121

COURSE TITLE: INTRODUCTION TO BUSINESS II

Topics included in this course are functional areas of business elementary concepts in personnel Management, Marketing, Accounting, Finance, Money and Banking, Insurance and production management, amongst others.

COURSE CODE: ACC211

COURSE TITLE: FINANCIAL ACCOUNTING I

Pre-requisite ACC111/ACC121

This course entails revision of trial balance, suspense accounts, adjustments and the preparation and presentation of final accounts. Also, total/control accounts, incomplete records, account of clubs and societies, farmers’ accounts, voyage &solicitors accounts, inventory valuation and bills of exchange, electronic money transfer, detailed treatment of SAS 3, SAS 4 and equivalent IAS, IFRS etc.  are treated in the course.

COURSE CODE: ACC212

COURSE TITLE: ACCOUNTING ETHICS AND CORPORATE GOVERNANCE

This course exposes the students to further areas in accounting ethics and values. The topics include: dimensions of AEV-general business ethics, professional ethics, ethics of accounting information, purpose of ethics, accounting ethics, ethics in tax, ethics in accounting, human resource management, intellectual property, knowledge and skills, international business ethics; civil service ethics and corruption, ethics of economics systems: Ethics and Accountability-enhancement mechanism, corporate governance, economic efficiency view; Models of AEV-ethical decision making principles, utilitarianism, justice, human rights, individualism; spectrum of firms-amoral, legalistic, responsive, ethical engaged, ethical. Other topics covered are philosophy [rationale and theories of AEV (theological, consequentialism, utilitarianism; deontological, Kantianism, universalism and respect for persons; ethics value theory (classical); common personal values). Law and AEV: Human rights, monitoring agents-EFCC, ICPC, Police, NASB, NDLEA, NAFDAC, SON, Code of Conduct Bureau etc. mandate and operation are also treated.

COURSE CODE: BUS 211

COURSE TITLE: PRINCIPLES OF  MANAGEMENT I

The course familiarizes students with basic concepts, principles, processes, significance and evaluation of management; functions of the manager, planning: nature and purpose; organization: nature and purpose, span of management, departmentation, line and staff authority; service department, staffing and directing, selection of managers, appraisal of managers, management and development.

COURSE CODE: ACC221

COURSE TITLE: FINANCIAL ACCOUNTING II

Pre-requisite ACC111

This course include miscellaneous accounting topics such as manufacturing accounts, consignments, goods on sale or return, royalties, containers, hire purchases and sinking funds. Introduction to the analysis and interpretation of financial statements, ratio analysis-uses, limitations, standards of comparison; trend, percentage, common-size financial statements, vertical, horizontal, industry, intra and inter-firm analyses, factors to consider in firms analysis, cash flow statement, hire purchase, treatment of SAS 18 and the equivalent IAS and IFRS.

COURSE CODE: ACC222

COURSE TITLE: INTRODUCTION TO COST ACCOUNTING

This course introduces the students to the definition and characteristics of cost, objectives of cost accounting; collection, classification and coding of costs, criteria and design of accounting system; elements of cost: material, labour and overheads. The organization of the cost department and relationship with other departments shall be examined. Student shall be exposed to the preparation of accounts where costing financial accounting are combined and where they are separate (integrated and inter-locking accounts), cost methods: batch, contract, operation, process costing, apportionment of joint cost, treatment of scraps, wastes, normal and abnormal losses and gains, principles of equivalent production units, evaluation of process stocks using FIFO, LIFO and average prices. Cost statements, simple variances, overhead costing and rolling plans are also taught.

COURSE CODE: BUS 221

COURSE TITLE: PRINCIPLES OF MANAGEMENT II

This course is an in-depth look at management functions; some of the topics include directing, motivating, planning, organization, controlling and leadership, nature of directing, leadership, controlling, the control process, control techniques, recent development in management process. The Nigerian specific envinronment, management problems in Nigeria, challenges of indigenization, transferabilty of management systems (modern trends) are also itroduced.

COURSE CODE: ACC311

COURSE TITLE: INTERMEDIATE FINANCIAL ACCOUNTING

Pre-requisite ACC211/221

The course is designed to review the Financial Accounting courses studied up to ACC221, and to take the students into advanced topics. The course will also acquaint the students with accounting procedures and financial control of international business. Topic include: partnership law and Accounts including admission, dissolution and liquidation; Joint Venture, contract account, departmental and branch accounts; including foreign branches, detailed treatment of SAS 5, 6, 7 and equivalent IAS, IFRS.

COURSE CODE: ACC312

COURSE TITLE: CORPORATE FINANCIAL POLICY

The course is an introductory course, which provides insights into the nature and scope of corporate financial decisions. The course covers issues such as meaning, scope and objectives of finance, the nature and functions of the money and capital market, public issues –methods and procedures, investment decision, working capital management (cash, inventory and receivables) and basic mathematics of finance; essentials of financial management, information and reports, the impact of information and communication technology on financial management practice, capital investment decisions-techniques and planning and control and the identification and evaluation of investment opportunities including risk and return relationship.

COURSE CODE: ACC313

COURSE TITLE: INTRODUCTIONTO TAXATION

The course examines the relevant income tax laws and practice as applicable to individuals, partners, and companies domicile or resident in Nigeria as well as a comparative appreciation of taxation laws in some other countries such as the U.K. Topics covered in this semester include structure of Nigeria tax system, development of Nigerian tax legislation, determination of responsibility to pay tax, administration of tax. Other issues covered here include analysis of taxation laws in various countries-OECD, UK, USA, Tax practice and professional ethics etc.

COURSE CODE: ACC314

COURSE TITLE: MANAGEMENT INFORMATION SYSTEM

This is a course in computer application to management decision making. Topics include systems analysis, principles of systems design and documentation. Information needs of management, nature of management, decision design and implementation of management information systems, system software, multi-programming, application of management information systems, data base management systems to typical business problems. Other topics include real-time and on-time systems networking, cost-benefit analysis evaluation, costing/pricing of computer service and application of accounting software.

COURSE CODE: ACC316

COURSE TITLE: PRINCIPLES AND PRACTICE OF AUDITING

This course and ACC 424 offered in the final year are actually one course broken into two parts for convenience and depth only with ACC 424 going into greater depth and current issues in Auditing. The course examines the appointment, duties, responsibilities, powers and privileges of the auditor and the statutory and professional standard, which regulate his work. Topics in this semester include: historical background, nature, objective and scope of audit, types of audit, importance of auditing, the auditing of government (federal/state/local government/establishments), introduction to International Auditing Standards Procedures for appointing an auditor and fixing his remuneration, auditors duties, rights, powers, responsibilities, removal, resignation, the distinction between statutory and management audit; internal control Vs internal check, audit methods, and procedures (including vouching, posting, verification, sampling, preparation of auditing programmes, files and working papers. etc), independence of auditor under CAMA 1990, BOFIA 1991, Insurance Decree 1997. The course also explores Auditing standards: nature, purpose, scope and development, functions of directors and audit committee under CAMA 1990, fundamentals of auditing: independence, objectivity and integrity, confidentiality, due audit care skill and competence, audit of public sector accounts, performance audits and financial audits, introduction to international auditing standards

 COURSE CODE: BUS 315

COURSE TITLE: BUSINESS LAW

This course introduces the students to the Nigerian Legal System, sources of Nigerian Law, division of power between the Federal and State governments, status law (its legislation and interpretation, history and development of common law and equity laws), hierarchy of Nigerian law courts, main law officers, distinction between civil and criminal liability, the nature of tort, the basis and extent of liability in tort, remedies, the differences between real and personal property and various types of interest in their legal person, corporate personality, the doctrine of ultra vires, law of contract, law of commercial agency. Topics include; sale of goods, carriage of goods, negotiable instruments, line percentage and install mental purchases, surety-ship, money lending and guarantees, pledge, lien, exchange control, differentiation between Civil and Criminal liability, Partnership laws, Nigerian laws of insurance and banking.

COURSE CODE: ACC321            

COURSE TITLE: INTERMEDIATE FINANCIAL ACCOUNTING II

Pre-requisite ACC311

This course introduces students to topics in company accounts, issue of shares and debenture cash, script dividends, taxation in the accounts, advanced treatment of sinking funds, investment accounts, purchases and sale of business, conversion into Limited Liability Company, accounting and control problem of multinational companies, transfer of dividends, foreign exchange conversion, translation of accounts of foreign branches and subsidiaries, issues in the preparation and presentation of financial statements for companies including banks and insurance companies in compliance with CAMA 2004 and BOFIA 1991, detailed treatment of SAS, IFRSs & IPSASs and relevant sections in CAMA, BOFIA dealing with the preparation of financial statement for companies, banks and insurance companies.

ACOURSE CODE: ACC 322

COURSE TITLE: ADVANCED COST ACCOUNTING

This course builds on the general principles of costing. The course examines in-depth control of the various elements of cost (material, labour and expenses), cost ascertainment, allocation and apportionment procedures, costing methods (jobs, units batch, contract, process, uniform and operation costing), costing techniques (standards and marginal costing and breakeven analysis), cost book-keeping, variance analysis etc.

COURSE CODE: ACC323

COURSE TITLE: BANKRUPTCY, LIQUIDATION ACCOUNT AND EXECUTORSHIPS

The course introduces students to situations that lead to business cessation and the related bankruptcy conditions that affect the application of the going concern. It examines legal, economic, financial and managerial implication of possible or actual cessation of business and the procedures involved, a careful study and applications of bankruptcy act, companies and allied matters act as far as liquidation of firms is concerned, financial statements Accounts, deeds of arrangements, rules disposition of property by wills and letters of administration, law and accounts relating to the administration of insolvent estates, trusteeship, trusteeship relating to the administration insolvent estates, trusts and estates of deceased person, corporate collapse etc.

COURSE CODE: ACC324

COURSE TITLE: APPLIED STATISTICS

This course emphasizes the practical application of statistics. Topic covered include statistics of quality control, analysis  of time series, index number analysis, demography statistics, life tables statistics, non-parametric statistics, design of experiment and sample surveys, simple correlation and regression analysis, binomial probability distribution, poison probability distribution, normal distribution, student t-distribution, hyper geometric distribution, Chi- square distribution and F distribution. Other topics include theory of estimators and their properties, confidence interval and hypothesis testing.

COURSE CODE: ACC325

COURSE TITLE: RESEARCH METHODS

Topics covered in this course include the nature and scope of scientific research, the nature of scientific theories, models, hypotheses; problem definition, literature review, information gathering techniques, data processing and analysis, drawing conclusions and making recommendations, referencing, bibliography, acknowledgement, projects report design, appendices, glossaries, the use of computer in data analysis and report presentation, types of research; stages of research, research design, pilot survey; research proposal, plan and synopsis; methodology; samples and sampling process; questionnaires design, measurement scale; validity and reliability tests; research budget, publicity, post enumeration survey; data presentation, statistical tools; ANOVA; multiple linear regression, coefficient of determination; referencing methods (Harvard, Chicago; APA Schools; Library of Congress style), writing Research report, marketing and feasibility survey; interpretation of finding, drawing inferences, and conclusion from the result of the study, recommendations, sign post for future research; executive summary, hypothesis testing. Students will be required to conduct a simple research within the University or city to demonstrate the research skills acquired in preparation for their final year project and to present a research proposal.

COURSE CODE: ACC326

COURSE TITLE: COMPANY LAW

The course is designed to expand the knowledge of commercial law which the student will already have obtained in Business Law I; placing particular emphasis however on the constitution and operations of corporate entities (Company Law). Topic include types of companies, company formation procedure and documentation, issue and transfer of shares and debentures; prospectus and statutory books, meetings and resolutions, duties of officers (directors, secretary, auditors, etc), provision relating to disclosure in corporate accounts, reconstructions, amalgamation and take over.

COURSE CODE: ACC 430

COURSE TITLE: RESEARCH PROJECT

Project work comprises an original study of a current local accounting or management problems. The aim is to help students develop the ability of identifying specific problems and made use of various concepts, tools and techniques to arrive at appropriate solutions. This assignment is intended to provide the students with the opportunity to practicalize the principles of problem definition, data gathering, and analysis and report presentation, which the students learnt in ACC325 (Research Methods). Project is normally supervised by faculty members. An interdisciplinary approach is also encouraged. Other details include: a systematic field research on a current accounting topic approved by a supervisor and the Department. The report is of reasonable and acceptable length and quality. It involves fortnightly discussions and reviewed of progress of work with the supervisor.

COURSE CODE: ACC412

COURSE TITLE: ADVANCED FINANCIAL ACCOUNTING I

Pre-requisite ACC311/321

This course covers general overview of financial accounting course up to ACC321, preparation of accounts for publication, amalgamation and reconstructions, segmental reporting and abridged financial statements, accounting for earnings per share, accounting standards particularly those issues by the Nigerian Accounting Standard Board- SAS, 20, 21, 24 etc and provisions of CAMA 1990 dealing with the preparation and presentation of published financial statements, introduction to international accounting standards and their applications in financial statements.

COURSE CODE: ACC 413

COURSE TITLE: ADVANCED COST ACCOUNTING

This course builds on the general principles of costing. The course examines in-depth control of the various elements of cost (material, labour and expenses), cost ascertainment, allocation and apportionment procedures, costing methods (jobs, units batch, contract, process, uniform and operation costing), costing techniques (standards and marginal costing and breakeven analysis), cost book-keeping, variance analysis etc.

COURSE CODE: ACC 414

COURSE TITLE: MANAGEMENT ACCOUNTING

Pre-requisite ACC212 and ACC 322

This course focuses on the techniques for designing, developing and presenting accounting information needed for various types of management decisions. Topics include problems in the preparation of business budgets and their use for control, the application of capital budgeting techniques to different situations (e.g. make or buy, lease or own etc); behavioural aspects of accounting and more difficult problems in standard and marginal costing. General principles for designing management reports are also discussed.

COURSE CODE: ACC 415

COURSE TITLE: ADVANCED TAXATION

Topics covered in this course include: company income tax with respect to Administration, ascertainment of profits or losses, deductions from dividends, double taxation arrangements and the Industrial Development Income Tax Act (Pioneer Legislation). Petroleum profits tax with respect to administration, ascertainment of profit/losses, computation of capital allowances, and determination of tax liability. Other topics will include review of the recent FIRS Establishment Act 2007, Capital Gains Tax, Capital Transfer Tax, Estate, Trusts and settlement Taxes, Gas and Solid minerals taxes: international taxation-Concept of residence and tax implications, dual residence, concepts of fixed base and permanent establishment in ascertaining tax liability, other issues-Double taxation, transfer pricing, e-commerce, tax treaties and agreement- DTA, MAP, APA etc. Issues in Tax audit and Investigation and cases dealing with tax problems.

COURSE CODE: ACC 416

COURSE TITLE: PUBLIC SECTOR FINANCE AND FISCAL POLICY

The course familiarizes the students with the peculiar nature of socio-economic objectives and other current issues in public sector organization. Topics covered include: the constitutional and legal framework of public sector accounting (constitutional provisions, provisions of the Finance Act Extort, Financial Regulations, Instruction and Memoranda; Government Accountancy theory and processes (accounting concepts and principles relevant to public sector accounting, concept of funds and its relationship to the entity concept and implication for income and measurement and valuation), financial controls, role of financial control institutions, PAC planning and budgeting, warrant system and virement procedures, vote books, ministerial accounting, ethical issues in government accounting, preparation of statutory financial statements (at all levels), cash flow, value added and interpretation of government financial statements. Public finance, nature and structure of public expenditure, borrowing policy and debts, debt management strategies, principles and practice of federalism, theory and practice of grant, project appraisal in the public sector; assessment of public sector projects, macroeconomic framework for national income analysis, fiscal policies; tax regimes; economic policies; national accounting; public Sector Accounting Standard.

COURSE CODE: ACC417

COURSE TITLE: CURRENT ISSUES IN ACCOUNTING PRACTICES

This course introduces the students to Oil and Gas Accounting and taxation system (Petroleum accounting); Forensic auditing and accounting issues; professional ethics and self-regulation issues, Sarsbane Oxley Act 2002; entrepreneurial development and leadership; anti-corruption crusade; corporate governance issues; internet impact on financial accounting and reporting ; financial reporting and assurance services and users satisfaction, expectation-gaps in financial reporting practices; environmental accounting; social responsibility Accounting, standards for the public sector (accounting and auditing, standards and compliance, multidisciplinary services demands and the training of accounting manpower, corporate governance standard; compliance responsibilities; globalization, global economic recession and mitigation measures, anti-corruption measures and forensics IFRS implementation.

SECOND SEMESTER

COURSE CODE: ACC422

COURSE TITLE: ADVANCED FINANCIAL ACCOUNTING II

Pre-requisite ACC412

The course will cover accounts of Holding Companies, an examination of the unique features of the accounts of special institutions such as banks and insurance companies, account of estates and trusts are also studied as well as a discussion of some contemporary controversies in accounting and accounting theory such as inflation accounting and major pronouncements or recommendations of professional accounting bodies, greater coverage of IFRSs and detailed studies of some selected national standards such as SAS 11, 18, 22, 23 etc and equivalent IAS, IFRS etc.

COURSE CODE: ACC423

COURSE TITLE: AUDITING, INVESTIGATION AND FORENSIC ACCOUNTING

Pre-requisite course is ACC316. Topics covered in this semester include the divisible profits and dividends, audit of non-manual accounting systems, public sector audits (duties, power, appointment and removal of Auditor), specialized audits and investigations including prospectus audit etc., special features in the audit of financial institutions and professional firms are also studied. Also covered are Accounting standards, IPSAS, INTOSAI, IDI, AFROSAI, AFROSAI-E, statutory and case laws affecting audits and the auditors and their functions; internet audits etc. Topics in forensic accounting include meaning, scope, development and relevance, diverse functions and services, forensic auditing, fraud prevention plans; roles of forensic accountant in litigation process, specialized audits in public sectors; deeper coverage of public sector entities, performance audits and environmental audits.

COURSE CODE: ACC424

COURSE TITLE: FINANCIAL MANAGEMENT

This course covers issues in financial management such as financing and capital structure, identification and evaluation of various sources of finance, concept and measurement of various costs of capital, optimal capital mix, capital structure theories and implications; dividend policy decisions (types, legal procedure and theories); corporate re-structuring; mergers and acquisitions (purpose, types of restructuring, motives, valuation of assets and businesses); financial management issues in small and medium scale enterprise, case studies on the different aspects of financial management, portfolio theory-measurement of risk and returns, treatment of inflation, taxation, risk and uncertainty and the effect of government policies on investment decisions and financial management in public sector.

COURSE CODE: ACC425

COURSE TITLE: PUBLIC SECTOR ACCOUNTING

This course is divided into two sections (A and B). Section A aims principally to develop characteristics of public sector and non-profit concerns, distinction between public sector and private sector organizations, organizations of government accounting functions, goal of the ministry of finance, treasury department, audit department, distinction between self accounting and non self-accounting units, types of fund and the general principle of fund accounting, routine accounting procedure of documentations. Section B extends the knowledge gained in section A. Topics covered include: Accounting report prepared at the federal, state and local government levels, effect of recent civil service reforms on the accounting functions of government, application of costing methods to decision making in government, budgeting, system-zero-based budgeting (ZBB), and planning and budgeting systems (PPBS).

ADMISSION REQUIREMENTS

1. Candidates for admission into the four-years degree programme in Accounting should possess:
2. S.C.E (WAEC, NECO), G.C.E, or its equivalent with credit passes in at least five subjects, which should include English Language, Mathematic and Economics (obtained in not more than two sittings). There are no waivers for credit passes in English Language and Mathematics
3. The required Unified Tertiary Matriculation Examination (UTME) subjects are:
4. English language
5. Mathematics

• Economics

1. Plus any other relevant/related subjects.

• Any other requirement the university may deem fit

1. Candidates for direct entry (three-year B.Sc. programme in accounting:

The admission requirements are as in A (1) above, plus:

1. Two or more subjects in the General Certificate of Education (G.C.E) at the Advanced level or Higher school certificate (H.S.C). One of the subjects must be Economics.
2. National Certificate of Education (N.C.E) with at least merit in relevant subjects

• National Diploma (ND) from any recognized tertiary institution with a grade not lower than upper credit or any equivalent diploma from a recognized university.

GRADUATION REQUIREMENTS

To graduate, students admitted into the four-year programme must successfully complete a minimum of 153 credits while students admitted for the three-years programme will be expected to accumulate a minimum of 122 credits. It should be noted that students undergoing the three-year programme must offer and pass all NUC required course (i.e. GST 111, 112, 113, 121, 122, 123, 211 and 221)