Department of accountancy

DEPARTMENT OF ACCOUNTANCY

 

 

YEAR ONE (1): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 101 PRINCIPLES OF ACCOUNTING I 3
2  BUS 101 INTRODUCTION TO BUSINESS I 2
3 ECO 101 ELEMENTS OF ECONOMICS I 3
4 GSS 101 USE OF ENGLISH I 2
5 GSS 104 HISTORY & PHILOSOPHY OF SCIENCE 3
6 GSS 108 IGBO I 1
    TOTAL 14

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 102 PRINCIPLES OF ACCOUNTING II 3
2  BUS 102 INTRODUCTION TO BUSINESS II 2
3 ECO 105 ELEMENTS OF ECONOMICS II 3
4 GSS 102 USE OF ENGLISH II 2
5 GSS 103 INTRODUCTION TO LOGIC & PHILOSOPHY 2
6 GSS 109 IGBO II 1
    TOTAL 14

 

YEAR TWO (2): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 213 INTERMEDIATE FINANCIAL ACCOUNTING I 3
2 ACC 221 AUDITIND I 3
3 ACC 281 BUSINESS COMMUNICATION 2
4 MAT 100 MATHEMATICS FOR SOCIAL SCIENCES I 3
5 LAW 243 INTRODUCTION TO NIGERIAN LAW I 1
6 GSS 107 NIGERIAN PEOPLES & CULTURE 2
    TOTAL 13

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 214 INTERMEDIATE FINANCIAL ACCOUNTING II 3
2 ACC 222 AUDITIND II 3
3 CSC 100 INTRODUCTION TO COMPUTER SCIENCE 2
4 MAT 100B/111 MATHEMATICS FOR SOCIAL SCIENCES II 3
5 LAW 244 INTRODUCTION TO NIGERIAN LAW II 1
    TOTAL 12

 

YEAR THREE (3): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 231 INTRODUCTION TO COST & MANAGEMENT ACCOUNTING I 3
2 ACC 251 TAXATION LAWS & ACCOUNTS I 3
3 BUS 203 PRINCIPLES OF MANAGEMENT I 2
4 BUS 221 BUSINESS STATISTICS I 3
5 ECO 211 MICRO ECONOMICS THEORY 2
6 LAW 201 BUSINESS LAW I 1
    TOTAL 14

 

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 232 INTRODUCTION TO COST & MANAGEMENT ACCOUNTING II 3
2 ACC 252 TAXATION LAWS & ACCOUNTS II 3
3 BUS 204 PRINCIPLES OF MANAGEMENT II 2
4 BUS 222 BUSINESS STATISTICS II 3
5 ECO 212 MACRO ECONOMICS THEORY 2
6 LAW 202 BUSINESS LAW II 1
    TOTAL 14

 

 

YEAR FOUR (4): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 315 ADVANCED FINANCIAL ACCOUNTING I 3
2 ACC 371 MANAGEMENT INFORMATION SYSTEM 3
3 BUS 323 QUANTITATIVE METHODS & OPERATIONS RESEARCH 2
4 CSC 101 COMPUTER PROGRAMMING & LANGUAGE 2
5 FIN 201 INTRODUCTION TO FINANCE I 2
6 LAW 448A EXECUTORSHIP, TRUSTEESHIP & BANKRUPTCY LAW I 1
    TOTAL 13

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 316 ADVANCED FINANCIAL ACCOUNTING II 3
2 ACC 331 ADVANCED COST & MANAGEMENT ACCOUNTING II 3
3 BUS 398 RESEARCH METHODOLOGY 3
4 CSC 203 COMPUTATIONAL TECHNIQUES 2
5 FIN 202 INTRODUCTION TO FINANCE II 2
6 LAW 448B EXECUTORSHIP, TRUSTEESHIP & BANKRUPTCY LAW II 1
    TOTAL 14

 

YEAR FIVE (5): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 416 INTERNATIONAL ACCOUNTING 3
2 ACC 481 SPECIAL AREAS IN ACCOUNTING 2
3 PUB 311 ELEMENTS OF GOVERNMENT 3
4 BUS 425 PRODUCTION MANAGEMENT 3
5 BUS 431 BUSINESS POLICY I 3
    TOTAL 14

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 417 ADVANCED FINANCIAL ACCOUNTING III 3
2 ACC 423 AUDITING & INVESTIGATION 3
3 BUS 426 BUSINESS ANALYSIS 3
4 BUS 432 BUSINESS POLICY II 3
    TOTAL 12

 

YEAR SIX (6): FIRST SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 441 MANAGEMENT ACCOUNTING I 3
2 ACC 461 GOVERNMENT & PUBLIC SECTOR ACCOUNTING 3
3 ACC 453 ADVANCED TAXATION LAWS & ACCOUNTS 3
4 FIN 411 FINANCIAL MANAGEMENT I 3
5 ENT 441 ENTREPRENEURSHIP STUDIES I 2
    TOTAL 14

 

SECOND SEMESTER

SN COURSE CODE COURSE TITLE CREDIT UNIT
1 ACC 442 MANAGEMENT ACCOUNTING II 3
2 FIN 412 FINANCIAL MANAGEMENT II 3
3 ENT 442 ENTREPRENEURSHIP STUDIES II 2
4 ACC 499 PROJECT REPORT 6
    TOTAL 14

 

OPTIONAL ELECTIVES

ENT 311:              INTRO TO RNTERPRENEUR STUDIES 1

BNK 321:              MONEY AND BANKING I 1

BNK 322:              MONEY AND BANKNIG II 1

MKT 201:             PRINCIPLES OF MARKETING I 1

MKT 202:             PRINCIPLES OF MARKETING II 1

FIN 323:                PUBLIC FINANCE 1

BUS 313:              ORGANIZATION BEHAVIOUR 1

 

COURSE DESCRIPTION

 

ACC101: Principles of Accounting I

  1. The nature and scope of Accounting: The function of accountants.

The accounting function and its relationship with the information system of organizations (both manual and electronic system). Users of accounting information and their needs. Qualitative characteristics of accounting information. Define, understand and apply accounting concepts including materiality, substance over firm, going concern, business entity, accruals, fair presentation and consistency.

 

  1. Accounting procedures and systems: Source documents. Books of prime entry and journals. Double-entry book-keeping principles. Ledger accounts. Classification of expenditure between capital and revenue items. The trial balance (including Extended Trial Balance). Accounting basis and purposes- accrual, Cash and Break-up.

 

  1. Adjustments in final accounts: Accruals and prepayments provisions for bad and doubtful debts, contingencies, discount etc.

 

  1. Acquisition – Treatment and Disposal of Non-Current Assets: Meaning of depreciation. Bases of accounting for depreciation. Disposal and the treatment of profit or loss on disposal.

 

  1. Preparation of final accounts using the Applicable Accounting Standards and Local Laws: Income statement of a sole trader. The statement of financial position of a sole trader.

 

  1. Miscellaneous: Bank reconciliation statement and cash book. Petty cash book and the imprest system.

 

BUS 101: Introduction to Business

Scope of 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. International business. Problems of Nigerian business enterprises.

 

ECO 101: Introductory Economics I

The Basic Problem of scarcity and Choice: the Methodology of Economic Science; the General Principles of Resource Allocation; the Concepts of Optimality and Equity; Equilibrium and Disequilibrium; Micro-economics versus Macroeconomics: Demand, Supply and Price: Types of Resources Allocation Decision; Methods of Resource Allocation in an Economy: Theory of the Firm; Introduction to Welfare Economics.

 

LAW 243 Introduction to Nigerian Law I

The Nigerian Legal System: Sources of Nigerian Law; Hierarchy of Nigerian Court, Commercial Arbitration. Law of Contracts; Commercial Contracts; Commercial Relations between Persons; Unfair Competition. Passing off and “Trade Libel”. Company Law: Introduction to Company Law. Powers and Functions Directors. Introduction to Taxation Laws.

 

MAT 100 A: Mathematics for Social Sciences

Mathematics and Symbolic Logic; Inductive and Deductive Systems; Concepts of Sets; Mappings and Transformation; Introduction to Complex Numbers; Introduction to Vectors: Matrix and Determinants. Discrete and Continuous Variables; The Straight Line in Various Forms; The Circle; Trigonometric Functions; Logarithmic Functions; Exponential functions Maxima, Minima and Points of Inflection; Integral Calculus; Integration by Substitution and By-Parts: Expansion of Algebraic Functions; – Simple Sequences and Series.

 

G$S101: Communication in English (2 Units)

Effective communication and writing in English, Language skills, writing of essay answers, Comprehension, Sentence construction, Outlines and paragraphs, Collection and organization of materials and logical presentation, Punctuation.

 

GSS104: History and Philosophy of Science (2 Units)

Man – his origin and nature, Man and his cosmic environment, Scientific methodology, Science and technology in the society and service of man, Renewable and non-renewable resources – man and his energy resources, Environmental effects of chemical plastics, Textiles, Wastes and other material, Chemical and radiochemical hazards. Introduction to the various areas of science and technology. Elements of environmental studies.

 

GSS 107: Nigerian Peoples and Culture (2 Units)

Study of Nigerian history, culture and arts in pre-colonial times, Nigerian’s perception of his world, Culture areas of Nigeria and their characteristics, Evolution of Nigeria as a political unit, Indigene/settler phenomenon, Concepts of trade, Economic self-reliance, Social justice, Individual and national development, Norms and values, Negative attitudes and conducts (cultism and related vices),  Re-orientation of moral Environmental problems.

 

GSS108: Igbo

 

ACC102: Principles of Accounting II (Pre-Requite ACC101)

  1. Control Accounts, Suspense Accounts, Correction of Errors.
  2. Preparation of accounts from incomplete record
  3. Accounts of Non-trading organizations: Receipt and payments accounts. Income and expenditure account. Statement of financial position
  4. Manufacturing accounts: Elements of cost. Direct and indirect costs. Production, distribution and operational costs. Determination of cost of manufacture. Treatment of profit or loss on manufacture.
  5. Joint Venture Account s including Memorandum Joint Venture Account.
  6. Consignment Accounts in the book of both the consignor and the consignee.
  7. Introduction to Partnerships: the Partnership Agreement, Profit sharing and Partners Capital, Current, Interests, Drawings and Appropriation Accounts.

 

BUS 102: Introduction to Business II (Pre-Requite BUS 101)

 

ECO 105: Elements of Economics II

Introduction to Macroeconomics: National Income Determination; the Public Sector in the National Economy; Macroeconomic Policy Objectives and Instruments; Introduction to Money and Banking, Introduction to Economic Growth and Development. Trade Politics with Particular reference to Nigeria.

 

LAW 244 Introduction to Nigerian Law II

 

 

 

MAT 100B: Mathematics for Social Sciences

Mathematics and Symbolic Logic; Inductive and Deductive Systems; Concepts of Sets; Mappings and Transformation; Introduction to Complex Numbers; Introduction to Vectors: Matrix and Determinants. Discrete and Continuous Variables; The Straight Line in Various Forms; The Circle; Trigonometric Functions; Logarithmic Functions; Exponential functions Maxima, Minima and Points of Inflection; Integral Calculus; Integration by Substitution and By-Parts: Expansion. Algebraic Functions; – Simple Sequences and Series.

 

GSS 102: Communication in English II (2 Units)

Logical presentation of papers, Phonetics, Instruction on lexis, Art of public speaking and oral communication, Figures of speech, Precis, Report writing

 

GSS103: Logic Philosophy and Human Existence (2 Units)

A brief survey of the main branches of Philosophy Symbolic Logic Special symbols in symbolic Logic-conjunction, negation, affirmation, disjunction, equivalent and conditional statements law of tort. The method of deduction using rules of inference and bi-conditionals qualification theory. Types of discourse. Nature or arguments, Validity and soundness; Techniques for evaluating arguments; Distinction between inductive and deductive inferences; etc. (Illustrations will be taken from familiar texts, Including literature materials, Novels, Law reports and newspaper publications).

 

GSS 109: Igbo 11(1 Unit)

 

CSC 100: Introduction to Computers

History and Development of Computer Technology. The Why and How of Computers. Computer Types: Analog, Digital, and Hybrid. Centra! Preparation Equipments: Keypunch, Sorter etc. Data Transmission, Nature, Speed and Error Detection. Data Capture and Validation including Error Detection. Systems Analysis and Design. The Programming Process: problem definition, flow charting and decision table.

 

ACC213: Intermediate Financial Accounting I (Pre-RequiteACC102)

  1. Partnership Accounts: Admission and Retirement of partners. Change in profit sharing ratios. Treatment of goodwill. Dissolution of partnership. Conversation to limited liability companies.
  2. Branch accounts and departmental accounts (excluding Foreign Branches)
  3. Hire purchase accounts in the buyers and sellers book respectively. Treatment of re-possession in the books.
  4. Miscellaneous accounts: Containers accounts goods on sale or return. Contract accounts, Royalty accounts. Accounting for bills of exchange.

 

ACC 221: Auditing I

To equip students with the basic skills to function as bill international and external auditors in the current challenging environment of audit practice.

  1. Nature of auditing: Definition and explain the concepts of audit and assurance (including their nature and purpose). Distinction between Auditing, Accountancy and investigations. Different types of audit and assurance assignments (including those relating to financial statements, internal controls, corporate social responsibility and sustainability reports. The advantages of the different types of audit.
  2. Parties to an assurance (Audit) engagement- their duties, rights and roles professional ethics. The concept of independence as fundamental to professional practice safeguards to independence. The concept of professional skepticism and materiality. Auditing standards. The concept of reasonable assurance and the concept of an opinion in an audit report.
  3. Auditing under the law: The concept of statutory and private audits. Provisions of CAMA 1990. Small company audits identify and explain the meaning of expectations gaps in context of audit and assurance assignments and their implications for the profession, including fraud, going concern internal control and risk issues.
  4. Basic steps or components if an auditor assurance process
  • The approach, obtaining assignments and nomination
  • Accepting an engagement. An engagement letter. Contents of an engagement letter.
  • Risk and risk assessment
  • Different approaches
  • Planning
  • Performance
  • Evidence and obtaining evidence.
  • Testing and other
  • Evaluating and considering an appropriate report
  • Reporting
  • Records and working papers.
  1. Internal control system. Nature of internal financial controls and internal controls effective internal financial controls and internal controls. Different types of internal control with emphasis on internal final controls. Main components of internal control including the control environment, risk assessment, control activities, information and communication and monitory activities identify and evaluate internal control weaknesses and how they may be rectified. Limitations of internal controls. Internal audit internal check. Internal audit versus external audit. Management letter, letter of representation.

 

ACC 231: Introduction to Cost and Management Accounting I

  1. Nature of Cost Accounting: Historical Development of cost Accounting, purpose and scope of cost Accounting. Definition of cost accounting, costing and cost Accounting; Relationship between financial, cost and management accounting.
  2. Cost Classification and Concepts: Classification of costs, cost concept. Uses of cost Data.
  3. Elements of Cost. Materials, labour and overhead; direct and indirect costs. Material costing, purchasing, storage and control. Inventory valuation models.
  4. Labour Costing and Control: Recruitment; remuneration and pay rolling. Wages determination and methods of remuneration. Labour costing and the learning core.
  5. Overhead Costing: Classification; Apportionment and Absorption of overheads. Accounting Entries for overheads.
  6. Absorption and Marginal Costing: Explain the importance of Absorption and marginal costing and application of the concept of contribution. Absorption and marginal costing on inventory valuation and profit determination. Calculation of profit and less under absorption and marginal costing. Reconciliation of profit or losses calculated under absorption and marginal costing. Advantages and disadvantages of absorption and marginal costing.
  7. Cost Audit: Nature of cost audit; material purchases and stores audit. Labour cost audit, overhead cost audit. Methods and systems audit.

 

ACC 251: Taxation Laws and Accounts I

  1. Introduction to taxation: Sources of Government Revenue, objectives and purposes of taxation, classification of taxes, principles/canons of taxation, tax incidence, lax burden, tax impact, tax shift, and tax effect. Distinction between taxation of income and the taxation of capital. Historical development of taxation in Nigeria.
  2. Nigerian system of Tax Administration.
  • Structure and procedure (functions, compositions and powers of tax machineries in Nigeria – Joint tax board (JTB), state board of internal revenue (SBIR), federal inland revenue services (FIRS), joint state revenue committee, local government revenue committee, tax appeal tribunal.
  • Basis for registration and filing of returns, assessments, tax objection and appeal procedures, postponement, collection ; with reference to all necessary legislation. -Tax clearance certificate.
  1. Personal Income Tax (PITA 2004, PITAA 2011 as amended to Date): Taxation of employment Income, basis of assessment, tax exempts, filing of returns, offences and penalties. Taxation of Trust, Settlement and Estates. Taxation of investment incomes (Dividend, Interest and Rent)
  2. Ascertainment of Business income: Taxable and Non – taxable incomes. Allowable and Non-allowable expenses. Basis Period for Assessment. Normal Assessment. Rules for Commencement Change of Accounting Date and Cessation.
  3. Capital Allowances Computation: Initial Allowance, Annual Allowance and Investment Allowance. Qualifying Capital Expenditure. Balancing Adjustments on Disposal of Capital Expenditure. Overlaps and Gaps in Basis Periods. Restrictions of Capital Allowances Claimable.
  4. Loss Relief: Carried forward Relief and Immediate Set-off (Current Year Relief)

 

 

ACC281: Business Communication

Rudiments of Communication: Communication Defined, Elements of Communication, Principles of Communication; Oral, Written and Non verbal Communication: Language Defined, Non-verbal communication, Listening, Oral and written Communication; Functions and settings of Communication: Functions of Communication, Communication setting; Communication Theories and Models: Linear Model, Interactional Model, Transactional Model etc. Writing and Communication Methods: Writing Defined, stages of Writing, other Aspects of the Writing Process, Corporate and Public Communications, Commercial Communication Method and Letter Writing. Process of Meetings, Conferences, Seminars, Symposium and Debates: Meeting Defined Conduct, Procedures, Aims and Benefits/Disadvantages of Meetings. Written Rules Affecting Meetings, Conference, Seminar, Symposium and Debates. Uses of Words, Sentences and Figurative Expressions, Words and their Meanings, Synonyms and Antonym Dynamism in Words, and Predication, Suffixation, Sentences/Figurative Expression. Reports and Handover notes: Types of Reports, Components of Reports and Handover Notes. Organization communication: The concept of organizational communication, Factors Affecting Effectiveness of Organizational Communication. Types of organizational Communication. Public Relations and Marketing Communication.

 

BUS 203: Elements of Management

Basic Concepts in Management: Management Principles, Functions of the Manager. Planning: Nature and Purpose the organizing function, Department, Line and Staff Authority, Staffing and Directing: Selection of Employees and Managers, Appraisal of Managers, Management Development, Nature of Directing, Motivation Leadership Controlling: the Control Process, Control technique, recent developments in the control Function The Nigerian environment: management problems in Nigeria, Challenges of Indigenization, transferability of Management system.

 

BUS 221: Business Statistics

Nature of Statistics, Statistical Inquiries, Forms and Design. The Role of Statistics, Basic Concepts in Statistics, Discrete and Continuous Variable, Functional Relationships, Sources of Data, Methods of Collecting Primary Data, Presentation of Statistical Data, Measures of Central Tendency, Measures of Dispersion, Moments, Skewness and Kurtosis, Elementary Probability Distribution, Normal Binomial, Poission and Hypergeometric. Elementary Sampling Theory, Estimation, Theory, Student’s Distribution, Statistical Decision Theory, Tests of Hypotheses for Small and Large Samples, Chisquare Distribution and Test of Goodness of Fit, Linear Regression. Correlation Theory, Index, Numbers, Time Series and Analysis of Time Series.

 

ECO 211: Economic Theory (Micro and Macro)

Analytical Tools and Models of Microeconomics. Methodology of Economic Science; Theory of Consumer Behaviour and Demand. Theory of Production and Cost Theories of the Firm under Perfect, Imperfect, Monopolistic, and Oligopolistc Competition. Theory of Employment and Distribution in perfectly and imperfectly competitive markets; Liner Programming and the Theory of the Firm: General Equilibrium Analysis and Introduction to Welfare Economics. Aggregate Economic Variables; Determination of the Level of economic activity, the Basic Model of national income Economics Determination; Theories of Consumption and Investment; The Keynesian, Classical and neo-classical Theories of Money; Inflation, Output and Employment, General Equilibrium of the Product; Money and Labour Market; Level of Employment and Economic Growth. Application of Economic Principles to Developed and Developing Countries with special reference to Nigeria.

 

ACC 214: Intermediate Financial Accounting li (Pre-Requite ACC 213)

  1. Accounts of limited liability companies: Distinction with partnerships. Memorandum and articles of association. Statutory books and returns. Classes of share capital. Application, allotment, forfeiture and reissue of shares. Share redemption. Financial accounts of companies. Preparation of simple statement of comprehensive income and statement of financial position under IFRS and local regulations. Cash flow statement and statement of value added.
  2. Published Accounts of Companies: Disclosure requirements of IFRS, FRC (Financial Reporting Council of Nigeria) and CAMA. No 1990. Income statements, statements of financial position, notes to the accounts, cash flow statements, value added statements and five-year historical financial summary. Identify and explain the extent of distributable profits if an entity based on local regulation.
  3. Treatment of taxation in the accounts: Company taxation. Investment accounts and stock exchange transactions. Stock transactions Ex-div, and Cum div. Preparation of interim statements. Listing requirements of the Nigeria stock exchange.

 

ACC 222: Auditing II (Pre-Requisite ACC 221)

To equip students with the basic skills to function as both international and external auditors in the current challenging environment of audit practice.

  1. Audit procedures and Final Audit: Audit programme. Planning the Audit. In implementing the Audit.
  2. Audit Testing: Types of Audit tests walk through test and in-depth Test. Compliance and substantive tests. Sampling technologies, flow charts. Rotational and vouching tests. Analytical procedures.
  3. Verification and valuation of statement of financial position and income statement items
  4. Audit working papers. Audit evidence. Different sources and quality of evidence. Methods of obtaining evidence and their effectiveness. Sufficiency of audit evidence. Written versus oral evidence permanent and current audit file working papers.
  5. Audit practice with respect to distributable profits; Effects of statutes and decide cases. Auditor’s liability/ Duty of care: Professional negligence and lack of skepticism. Liability under statute and under common law. Civil and criminal liability. Effect of decided cases.

 

ACC 232: Introduction to Cost & Management Accounting II (Prerequisite: ACC 231)

  1. Cost Methods: Job and batch costing, Describe the characteristics of job and batch costing; prepare cost records and accounts in job and batch costing situations. Establish job and batch costs from given information.
  2. Process Costing: Describe the characteristics of process costing. Describe situations for use of process costing. Explain the concepts of normal and abnormal losses and abnormal gains. Calculate the cost per unit of process outputs. Prepare a process account involving normal and abnormal losses and abnormal gains. Calculate and explain the concept of equivalent units. Apportion process costs between work remaining in process and transfers out of a process using weighted average and FIFO methods. Prepare process accounting in situation where work remains incomplete; losses and gains identified at different stages of the process.
  3. Joint and By-product Costing: Distinction between joint and by product. Valuation of by-products and joint products at separation points. Joint products accounts.
  4. Service/Operation Costing: Identify situations where the use of service/operation costing is appropriate. Illustrate suitable unit cost measures that may be used in different service/operation situations. Carry out service cost analysis in simple service industry situations.
  5. Contract Costing: Profit on uncompleted contracts. Valuation of work in progress. National profit and suspense.
  6. Cost Accounting Bookkeeping: Inter-locking, Accounting systems. Reconciliation of cost and financial account. Integral accounts.

 

ACC 252: Taxation Laws and Accounts II (Prerequisite ACC 251)

  1. Personal Income Tax (PITA 2004, P1TAA 2011 as amended to Date): Taxation of sole proprietors (computation of tax liability of Sole Proprietors).
  2. Partnership assessment (PITA 2004, PITAA 2011 as amended to Date): Taxable incomes of partners. Assessable Profit, Admission and Retirement of Partners.
  3. Company Taxation (Application of Company Income Tax Act (CITA), 20Q4 as Amended to Date): Chargeable Profits. Persons Liable. Assessable Profit. Total Profit and Tax Payable. Small Company Provision. Transactions or Incomes subject to Withholding Tax (WHT) and Rates. Administration of WHT.
  4. Tertiary Education Tax: Objectives, Basis of Computation. Tertiary Education Tax Fund (TETF) management and Administration.
  5. Taxation of Specialized Businesses: Banks. Insurance Businesses. Shipping and Air Transportation Businesses. Telecommunication businesses.

 

BUS 204: Principles of Management II

 

BUS 222: Business Statistics II

 

ECO 212: Macro Economics Theory

 

LAW 202: Business Law I

 

ACC 315: Advanced Financial Accounting I (Pre-Requisite: ACC214)

  1. Accounting Theory: Principles and objectives of Financial Reporting. Identify and explain current issues arising in this development of generally accepted accounting practice at a local and international level. Alternative choices of income recognition, asset and liability recognition, and measurement. Capital maintenance concepts. Accounting for intangibles- Goodwill, deferred expenses and research and development costs.
  2. Consolidated accounts: Holding and subsidiary companies. Consolidated is statement of financial position and income statements. Disclosure requirements under IFRS and local regulations.
  3. Partnership dissolution: Dissolution by bankruptcy and by the courts. Piece meal realization of assets. Rules in Elliot Vs Elliot and Garner Vs Murray.
  4. Consolidated accounts: Elimination of intra-group balances and profit on intra-group transactions. Treatment of minority interest and cost of control. Merger and acquisition.

 

ACC 371: Management Information System

  1. Introduction to, and Fundamentals of Data Processing Brief history and conventional data processing methods; Manual methods and mechanized methods.
  2. Classification of systems and their relative merits. Closed loop and open loop systems: effect on time-lag; the total system approach and objectives; total systems and subsystems.
  3. Data processing and Management Information Systems MIS.
  4. Business Systems: hierarchical structure of Organizations; the suboptimization issue.
  5. Computer and Data Processing -evolution of the Computer and computer systems-input, output and central processing unit

 

Practicals:

  1. The organization of MIS including the use of mechanical and electronic accounting machines, flow charting and the principles of systems design and documentation.
  2. Managerial uses of the information output as a basis for developing criteria and systems.
  3. Information needs of management and Design of MIS.
  4. The Computer system Input, output and central processing unit. Hardware and Software,
  5. Introduction to common Computer Programming languages used in business (Sage 50 Accounting Packages, Peach Tree Accounting, Quick Books, Tally ERP, Inventoria (Stock Management Package), SPSS etc.)
  6. Batch processing, realtime processing and the management of EDP (Electronic, Data Processing) methods

 

CSC 101: Application of Computer

Introduction to Basic programming. Data types: Constant and variables. Statement types; assignment statements, Input – output statements, control statements.

 

FIN 201: Introduction to Finance

Nature and Scope of Finance: Meaning of Finance, The finance Function, Goals of the Firm, Finance and Related Disciplines, The Role of Financial Managers, Finance Decisions and Risk Return Trade off, Finance in the Organization Structure of the Firm. Basic Forms of Business organizations; Sources of Business Finance; Introduction of Financial Analysis; Profit planning; Financial Forecasting; and Introduction to Working Capital Management.

 

LAW 448A: Executorship, Trusteeship & Bankrupcy Law I

 

PUB 311: Elements of Government

Nature of Politics: Society and Social Organization: The State. The Problem of Law. Constitution and Constitutionalism. Political Ideology. The Classical Heritage, Plato, Aristotle; Stoicism and Pax Romanica: Revolt, Towards the Mass Man. Organs of Government (National Governmental Institutions); Public Administration; Political Parties and Pressure Groups; Public Opinion and Propaganda; Elections; International Order.

BUS 425: Production Management

 

BUS 431: Business Policy

 

ACC 316: Advanced Financial Accounting I (Pre-Requisite: ACC 315)

  1. Accounts of Foreign Branches
  2. Preparation, Translation and analysis of financial statements for foreign multi-national companies. Exchange conversion methods. Accounting treatment of exchange differences.
  3. Accounting and control problems of foreign companies Transfer of dividends, costs of foreign productions and funds for foreign directors.
  4. Comprehensive review of International accounting standards.

 

ACC 333: Advanced Cost Accounting: (Pre-requisite: ACC 232)

  1. Elements of a Control System: Characteristics, design and operating of control systems. Operational and Accounting controls. Feed-back and feed-forward systems.
  2. Standard Costing and Variance Analysis, setting standard, material variances; labour variances. Overhead variance, mix and yield variances, gross profit analysis, operation variance; responsibility; Accounting system.
  3. Pricing Decisions: Economic concept of price. Field cost, pricing return on investment pricing direct cost pricing. Differential cost pricing, conversion cost pricing. Pricing (sex, same costing). Other pricing strategies, including skimming, penetration; complementing product; volume discounting. Discrimination; product line, relevant costing, pricing; transfer printing-explain and illustrate valuable cost fill cost and principle, .behind allowing for intermediate markets. Effect on performing assessment of division and decisions made.
  4. Activity based costing: Identify appropriate cost drivers under ABC. Compare ABC and traditional methods of overload absorption based on production units, labour hours or machine hours.
  5. Target Costing: Derivation of target cost in. manufacturing and service industries, suggest how a target cost gap might be closed
  6. Life cycle Costing: Identify the costs involved at different stages of the life-cycle, derive a life – cycle cost in – manufacturing and service industries, identifying the benefits of life cycle costing.
  7. Through put Accounting: Calculate and interpret a throughput accounting ratio (TPAR). Suggest how a TPAR could be improved, apply throughput accounting to a multi-product decision-making problem.

 

BUS 398: Research Methods

Skills of Scientific Investigation, information Gathering, Analysis and interpretation in dealing with business and organizational behaviour problems in Nigeria; the art of problem identification and analysis, data gathering, analysis and report writing; the problems and prospects of business research in a seller’s market like Nigeria.

 

ACC416: Advanced Financial Accounting and Corporate Financial Reporting

  1. Re-organization and Reconstruction Schemes; Amalgamation (Merger) and adsorption of companies. Capital reduction schemes.
  2. Bankruptcy: Statement of affair and deficiency accounts. Trustee’s cash book and accounts.
  3. Accounting for joint ventures, Bank insurance and non bank financial institutions and pension funds will particular reference to the enabling legislations guiding their operations.
  4. Business and share valuation ongoing concern and break-up bases.

 

ACC 441: Management Accounting I (Pre-requisite ACC 333)

  1. Marginal Costing and CVP Analysis: Marginal Absorption Costing, breakeven analysis-breakeven chart, project volume graph and their Limitations. Application of CVP analysis and break-even chart in decision making. Decision models – product planning; profit planning, promotional mix, equipment selection and replacement and make or buy decision.
  2. Working Capital Management: Adequacy and Quality of working capital. Measures of adequacy and quality, application of financial ratios, liquidity index. Common sized percentage analysis, cash flow analysis etc.
  3. Performance Measurement and Control The scope of performance measurement: Describe, calculate and interpret financial performance indicators (FPIS) for profitability, liquidity and risk in both manufacturing and service business. Suggest methods to improve these measures. Describe calculate and interpret non-financial performance indicators (NPIS) and suggest method to improve the performance indicated. Explain the causes and problems created by financial manipulation of results and suggest methods to encourage a low term view. Explain arid interpret the balanced score card, and the building block model proposed by Fitzgerald and Moon. Discuss the difficulties of target setting in qualitative areas.
  4. Budgeting and Budgeting Control: Nature types zero based budget (ZBB) incremental; functional flexible; programme planning and budget system (PPBS) etc. Development of budgets, sales and production budgets. Budgeted income statement. Cash budget, master budget, flexible budgeting- Behaviourial aspects of budget identification of the factors which influence behaviour. Discuss the issues surrounding settings, the*difficulty level for a budget. Explain the benefits and difficulties of the participation of employees in the negotiation of targets.

 

Acc 453: Advanced Taxation Laws & Accounts

  1. Capital Gains Tax (Capital Gains Tax Act): Administration of Capital Gains Tax. Chargeable Gains and Capital Gains Tax, Roll over Relief
  2. Companies’ income Tax: minimum Taxation. Trades or Businesses Sold or Transferred. Pioneer Legislation (Industrial Development (Income Tax) Relief Act, Double Taxation Arrangements. Tax on Turnover Basis. Tax on Dividend Basis.
  3. Petroleum profit tax: overview of oil and gas industry in Nigeria. Accounting period and basis of assessment for tax purposes. Incomes accruing to petroleum companies. Allowable and non-allowable expenses. Capital allowances (petroleum investment allowance and annual allowance). Restriction on capital allowance claimable. Treatment of loss. Registration and filing of returns. Joint venture. Profit sharing contract (PSC) agreement.
  4. Miscellaneous Tax Laws: Value Added Tax. Stamp Duties. Transfer Pricing
  5. Emerging Trends in international taxation and e- taxation.

 

ACC 461: Public Sector Accounting And Finance

The purpose of this course is to impact on the students understudying of the public sector environment, legal framework and financial authorities that support the compilation of reliable financial accounts for the public sector and evaluation of the financial performance of the Nigerian economy.

  1. Nature and Development of Public Finance: Public receipts and expenditure development of Public Finance through primitive era, mercantilist era and Laissez Faire era. Fiscal and monetary policy tools in public finance.
  2. Public Finance
  • The economic environment
  • Revenue sources
  • The economic role of the public sector
  • Debt management strategies
  • Fiscal policy and tax administration
  • Principles and practice of federalism, fiscal federal isms, fiscal capacity in multi-level government structures.
  • Theory and practice of grants in relation to state and local government
  • Project appraisal in the public sector
  • Rolling plans prospective plans
  1. Nature of Government Accounting: Accounting for not-for-profit organizations. Legal aspects of government accounting. Constitutional provisions and budgeting, accounting and auditing, financial regulations, civil service regulations in relation to accounting. Types of funds and their operations.
  2. Accounting Process and Bookkeeping Procedures: Preparation of Government Accounts and Final accounting. Financial statements and report nature and types of Financial controls. Expenditure controls, role of public accounts committee.
  3. Government Budgeting: Legislative and executive procedures in budget, preparation and implementation, modern budgeting systems, programme performance budgeting, planning programming budgeting systems, zero-base budgeting, etc. elements of fiscal and budgetary administration.
  4. Government Audit. Auditor-general, Appointment, functions and power, internal audit function, audit alarm committee, pre-audit and post-audit, value for money audit.
  5. Financial Management in the Public Sector
  • Financial Control of Government funds
  • Auditing practices in the public sector
  • Warrant: types and system of operations
  • virement procedure
  • vote book and budgeting control
  • Financial control institution
  • Budgeting in the public sector
  • Role of National Assembly and State Assembly in Financial Control
  1. Financial Reporting in Government
  • Cash flow statements
  • Value-added Statements
  • Published reports
  • Interpretation of financial statements
  • Accounting for ministries
  • Preparation of Trial Balance and Transcript
  • Salaries/wages and variation control
  1. International Public sector Accounting Standards (IPSAS)
  • Introduction to IPSAS
  • Structure/organization of IPSAS
  • Financial reporting council, Nigeria (IPSAS content)
  • Principles/concept/policies
  • Analysis of IPSAS Issued (IPSAS 1 -IPSAS 32)
  • Presentation of Financial Statement 1ASI
  • Income Statement
  1. Accounting for Public Sector organizations and government business entity
  2. Describe the general nature of, and difference among these bodies.
  3. Describe the financial provisions of enabling law for the relevant utilities, authorities, parastatals, boards, corporations, agencies and tertiary educational institutions.

 

ACC 481: Special Areas in Accounting

The following areas shall be covered in this course:

  1. Petroleum Accounting
  2. Accounting for Banks, Insurance Companies and stock Exchange Transactions.
  3. Control Systems and Fraud Examination
  4. Professional Practice and Ethics
  5. Accounting Problems of Small and Medium-Scale Enterprises
  6. Emerging Issues in Accounting Theory and Practice

 

ENT441: Foundation Course in Entrepreneurial Studies I

The Historical and Economic role of Entrepreneurship. Theory and the Practice of Entrepreneurship. Starting and managing a new enterprise. Characteristics of entrepreneurs, the identification and evaluation of pew venture opportunities, resource utilization, strategy development ‘and successful planning, implementing and launching of new business venture. Analyses of case studies and developing of detail business plan for starting and owning and enterprise. Writing of feasibility study and business proposal.

 

FIN 411: Financial Management

The nature, scope and purpose of Financial Management; Sources and costs of short, medium – and long-term finance; sources and problems of new financing, capital budgeting; management of working capital. Analysis and interpretation of basic financial statements; business mergers and take-overs; determinants and implications of dividend policy, valuation of shares, assets and enterprises. Risks of Finance and methods of avoiding them. Banking systems and industrial finance, Mortgage Finance, Capital Structure of Nigerian firms.

 

ACC 417: Advanced Financial Accounting and Corporate Financial Reporting. (Pre-Requisite: ACC416)

  1. Further treatment of bankruptcy
  2. Liquidation and dissolution of companies: application of CAMA 1990. Voluntary and compulsory liquidation
  3. Interpretation of financial statements using ratio analysis and cash flow statements.
  4. Accounting reports: Nature, format and contents of accounting reports. Emerging trends in corporate reporting. Social responsibility accounting, human resources accounting, sustainability and integrated reporting and the requirements of true and fair view or fairly presented.
  5. Corporate financial reporting case studies.

 

ACC 423: Auditing and Investigations (Pre-Requisite: ACC 222)

  1. Review of topics treated in Acc222 and 222
  2. Forensic Audits. Differences between Forensic Audit and normal Statutory Audit. Technical. Professional and Ethical issues that may arise during audit and assurance engagements. Identify and explain the nature and purpose of laws, regulations, standards and codes in the context of audit engagements.
  3. Investigation: Types and circumstances of investigations. Distinction from correctional audit. Types and firms of investment report.
  4. Further Treatments of Audit’s Liability: Statutory and Non statutory, Audit liability. Liability of investigating Accountant. Case
  5. Specialized Audits and Investigations:
  • Audit of farmers, Professionals, Hospitals, Hotels etc.
  • Computer Audit
  • Fraud and Error
  • Public Sector Audits
  • Investigation- Banks, Insurance companies, Private Mortgage Institutions etc
  • Not for Profit Organizations- Charities, NGO’s etc
  • Joint audits. Auditors involved with prospectuses and offer documents Examination of Financial forecast and projections. Handling Insolvency Assignments. The diligence reviews for mergers, acquisitions and business combinations.
  1. Application of information Technology in Auditing: Explain the Effect of Information Technology Auditing. Analysis of IT control frameworks in internal controls.
  2. Auditor’s Report. Qualified and unqualified reports and circumstances leading to each firms of qualification. Evaluate and apply suitable judgments on when it may be appropriate to withdraw from withdraw an opinion on or take such other Relevance of audit report in corporate financial reporting. Draft audit report. Draft management report.
  3. Audit Professional Practices: Professional Ethics. Setting upon Audit Practice. Management of an Audit Firms.
  4. Social and Environmental Audit. Transnational Audit

 

ACC 442: Management Accounting II (Pre-requisite ACC 441)

  1. Capital Budgeting: Nature of capital budgets. Types of appraisal – Non-discounting and discounting method of investment appraisals. Pay back (PBP); Accounting Rate of Returns (ARR) and Raking; Discounting methods – Net present value (NPV) internal rate of return (1RR); Discounted payback; profitability index. Project Analysis and Capital Rationing (single period, multi-period and use of linear programming.
  2. Analysis of Financial Statements: Ratio analysis cash flow statement.
  3. Accounting Information Reports: Types of accounting reports and their presentation; character of reports to management.
  4. Environmental Accounting: Discuss the issues businesses face in management of environmental costs. Describe the different methods a business may use to account for its environmental costs. Discuss Triple Bottom Line Accounting and Sustainability Accounting.
  5. Back flush accounting: Describe the process of back flush accounting and contract with traditional process accounting. Explain the implication of back flush accounting on performance management and the control of a manufacturing process. Identify the benefit of introducing back flush accounting to evaluate the decision to switch to back flush accounting from traditional process control.

 

ACC 442: Introduction to Entrepreneurship Studies

Introduction to Entrepreneurship and new Venture Creation, Entrepreneurship in theory and practice, the Opportunity, Forms of business, staffing, marketing and the new venture, the opportunity, forms of business, staffing, marketing and the new venture, determining your capital requirements, raising capital cost, financial planning and management, starting a new business, innovation, legal responsibility, insurance, and environmental consideration.

 

ENT311: Introduction to Entrepreneurship Studies (2 Units)

Some of the ventures to be focused upon include the following:

  1. Soap/Detergent, Tooth brushes and Tooth paste making
  2. Photography
  3. Brick, nails, screws making, Dyeing/Textile blocks paste making Rope making
  4. Plumbing, Vulcanizing, Brewing,
  5. Glassware production/Ceramic, production, Paper production
  6. Water treatment/Conditioning/Packaging,
  7. Food, processing/packaging/preservation
  8. Metal working/Fabrication – Steel and aluminum door and windows
  9. Training industry
  10. Vegetable oil/and Salt extractions, Fisheries/Aquaculture
  11. Refrigeration/Air conditioning, Domestic Electrical wiring, Radio/TV repairs, Plastic making,
  12. Farming (crop), Carving, Weaving, Brick laying/making, Bakery
  13. Tailoring, Iron welding, Building drawing, Carpentry, Leather tanning
  14. Interior decoration, Printing,
  15. Animal husbandry (Poultry, Piggery, Goat etc),
  16. Metal Craft – Blacksmith, Tinsmith etc, Sanitary wares
  17. Vehicle maintenance
  18. Bookkeeping