Accountancy – Course Modules

FOUR YEAR STANDARD UNDERGRADUATE DEGREE PROGRAMME

FIRST YEAR

FIRST SEMESTER     

A Major Courses Title Units
  ACC 101 Elements of Accounting I 2
B Ancillary Courses
  MAN  103 Business Mathematics I 2
  MAN 101 Elements of Business Economics I 2
  BAF 101 Introduction to Finance 3
  COS 101 Introduction to Computer Science 3
  PHL 101 Introduction to Logic & Philosophy 2
  PSY 101 Introduction to Psychology 3
C G.S. Courses
GSP 101 The Use of English I 2
GSP 105 Natural Science I 2
Total 21

SECOND SEMESTER

A Major Courses Title Units
  ACC 102 Elements of Accounting II 2
B Ancillary Courses
  MAN 102 Elements of Business Economics II 2
  MAN 104 Business Mathematics II 2
  MAN 106 Introduction to Business 3
  PHIL 102 History & Philosophy of Science 3
C G.S. Courses
GSP 102 The Use of English II 2
GSP 106 Natural Science II 2
Total

                                                    Total = 37 Units                                                                                  

 

16

SECOND YEAR

FIRST SEMESTER

A Major Courses Title Units
  ACC 201 Introduction to Financial Accounting 1 2
  ACC 211 Cost & Management Accounting 3
B Required Ancillary Courses
  MKT 201 Elements of Marketing 3
  MAN 201 Elements of Management 2
  MAN 231 Business Statistics I 2
  MAN 241 Economics Microeconomic Theory 3
C G.S. Courses
GSP 201 Social Sciences I 2
GSP 207 Humanities I 2
Total 19

 

SECOND SEMESTER

A Major Courses Title     Units
  ACC 202 Introduction to Financial Accounting II 2
B Required Ancillary Courses
  MAN 222 Production Management 2
  MAN 232 Business Statistics II 2
  MAN 242 Business Macroeconomic Theory 3
  MKT 222 Business Communication 2
  BAF 222 Principles of Insurance 2
  COS 304 Computer Applications 3
C G.S. Courses
GSP 202 Social Sciences II 2
GSP 208 Humanities II 2
Total 20
Total= 39 points

 

 

THIRD YEAR

FIRST SEMESTER

A Major Courses Title Units
  ACC 301 Financial Accounting III 2
  ACC 311 Cost Accounting I 2
  ACC 331 Taxation 3
  ACC 351 Fundamentals of Government

Accounting System

2
  ACC 361 Quantitative Techniques in Accounting I 2
B Required Ancillary Courses
  BAF 311 Monetary Theory & Policy 3
  BAF 331 Financial Management I 2
  BAF 383 Public Finance & Taxation I 2
  CED 341 Introduction to Entrepreneurship Development 2
  Total                                                                     20

 

SECOND SEMESTER

A Major Courses Title Unit
  ACC 302 Financial Accounting IV 2
  ACC 312 Cost Accounting II 2
  ACC 362 Quantitative Techniques in

Accounting II

2
  ACC 372 Research Methods 3
B Required Ancillary Courses
  Major Courses Title Unit
  LAW 212 Basic Business Law I 3
  BAF 332 Financial Management (Advanced) 2
  BAF 384 Public Finance & Taxation II 2
  CED 342 Business Development & Management 2
  MAN 352 Government & Business 2
  Total                                                                                                                                20             

 

Total = 40 Units

 

 

FOURTH YEAR

FIRST SEMESTER

  Major Courses Title Units  
A ACC 401 Advanced Financial Accounting V 2
  ACC 403 International Accounting 3
  ACC 411 Management Accounting I 2
  ACC 421 Auditing & Investigation I 2
  ACC 451 Public Sector Accounting 3
B Required Ancillary Courses
  MAN 405 General Business Policy 3
  BAF 451 Capital Markets & Portfolio Theory 3
                   Total                                                                                                           18

SECOND SEMESTER

  Major Courses Title     Units
A ACC 402 Advanced Financial Accounting VI 2
  ACC 412 Management Accounting II 2
  ACC 422 Auditing & Investigation II 2
  ACC 432 Taxation II 2
  ACC 442 Management Information System 3
  ACC 490 Project 4
  Required Ancillary Course
  MAN 432 Analyses for Business Decisions 3
  Total                                                                                                                      18

 

                                Total= 36 Units

 

COURSE DESCRIPTION

ACC 101         Elements of Accounting I    2 Units

 

Topics treated are: Historical Development of Accounting Terminologies, Concepts, Conventions and Purposes of Accounting Information and its Communication. The nature and scope of Accounting. The Role of an Accountant in an organization. Major Branches of Accounting, (Financial, Auditing, Taxation, Public sector, Cost and Management Accounting) and their roles in an Organization. Users of Financial Statements, Their Information Requirement, Objectives, Adequacy and the Usefulness of Financial Statements. Principles and Practice of Double Entry Book-Keeping. Forms and Contents of Books of Accounts- Computer Sheets, Prime Books Including Journals, Cash Books and Petty Cash Book. The Ledger- Sales Ledger, Purchases Ledger and General Ledger. Trial Balance, its Scope and Uses. Its Preparation from Accounting Records and List of Ledger Balances. Classification of Expenditure between Capital and Revenue. Methods of Recording Accounting Data: Manual and Computer. Preparation of Final Accounts for Sole Proprietorship. Accounting Treatment of Adjustments.  Depreciation- Reasons and Methods of Providing for it. Debtors, Bad Debts and Provision for Doubtful Debts. Accruals and Prepayments. Bank Reconciliation Statement- Format and Preparation. Banking Transactions and Processes.

 

ACC 102            Elements of Accounting II    2 Units

 

The following topics are treated: Correction of Errors and Control Accounts.  Depreciation Methods, Manufacturing Accounts. Receipts and Payments of Income and Expenditure Accounts. Balance Sheet of Non- Trading Organization or Statement of Affairs. Preparation of final Accounts from Incomplete Records. Stock Valuation for Financial Accounting Purposes. Preparation of Insurance Claims. Miscellaneous Accounts- Consignments, Containers, Royalties and Bill of Exchange.

 

 ACC 201 Introductions to Financial Accounting    2 Units

(Pre-Requisite ACC 101 and 102)

The content is as follows: The Broad Structure of Accounting Theory, Fundamentals Underlying Assumptions, Fundamental Theoretical Concepts, Generally Accepted Accounting Principles and Accounting Procedures. Departmental and Branch Accounts. Treatment of Overhead in Departmental Accounting. Partnership Accounts, Admission, Retirement, Dissolution, Charge of Interest, including the Treatment of Goodwill, Piecemeal Realization. Introduction to Accounts of limited liability Companies – Articles and Memorandum of Association. Formation Including Treatment of Issues of shares/Debentures, Redemption of Preference Shares and Debentures, Sources and Structure of Capital, Classes of share Capital.

 

ACC 202   Introduction to Financial Accounting II    2 Units

(Pre-Requisites; ACC 101 and 102)

The topics are: Introduction to Interpretation of Accounts and Financial Statements Analysis. Analysis of Working Capital and cash flows and objectives of disclosure.  Introduction to Basic Accounting Standards (IFRS, IAS etc). The Nature and Role of bodies which set Accounting Standards in Nigeria; Structures and Process of Issuing Accounting Standards; Provisions of Some Accounting Standards (IFRS). Accounting for Investment. Accounting for Hire Purchase Transactions. Accounting for Purchase and Sales of Business.

 

ACC  211   Introduction to Cost and Management Accounting    3 Units  

 

Nature, Scope and Functions of Cost, Management and Financial Accounting; Different meanings of cost Viz. Historical, Standard, Marginal, Average etc; Cost Unit and Cost Centers, Classification of Cost by Nature, Functions, Elements, Responsibility and Behavior. Principles underlying the Preparation and Presentation of Cost Account for Various types of Business. Cost Accounting for Material: – Stock Recording and Management, Material Procurement, and Pricing, Methods of Inventory Valuation, Just-in-Time purchasing and Production, Inventory Control.  Cost Accounting for labour; Basic Methods of Remuneration, General Features of Incentive Schemes, Labour Costing and Labour Cost Control, Job Evaluation, Merit Rating, Labour Turnover And Their Impact On Labour Cost. Overhead Costing, Overhead Allocation, Apportionment and Absorption, Activity Based Costing. Introduction to job and Process Cost Accounting.  Elements of Marginal Cost, Absorption Costing, Standard  Costing and Budgetary Control. Accounting Ratios; Uses, Limitations, Classification etc. Double Entry Accounts for Cost Control. Profit Planning and Profit Analysis, Quality Control Techniques, Merit Rating, Job Evaluation, Work Measurement. Current Problems and Issues.

 

ACC 301      Financial Accounting I    2 Units

 

Advanced Partnership Accounts: Conversion of Partnership into Limited Liability Companies, Amalgamation of Partnerships. Branch Accounts: Home and Branch Accounts: Consolidation of Branch Accounts including Home and Foreign Branches, Rules for Foreign exchange. Preparation of  Published Financial Statements for Limited Liability Companies in Conformity with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS). Legal and Regulatory Framework of Company Accounts.

 

ACC   302       Financial Accounting II    2 Units

 

Capital Reorganization, Reduction and Reconstruction, Business Mergers, Amalgamation and Absorption. Introduction to interpretation of accounts and financial statements analysis: Types of Financial Ratios, Analysis and limitations of financial ratios.  Computation and Interpretation of Accounting Ratios and Trends from Financial Statements to Address Shareholders Needs, Including their Usefulness and Limitations.

Inflation accounting, Accounting for Provident and Pension Funds, Co–operative Societies, Estate Agencies, Sinking Fund and Annuities Accounts, Preparation of Accounts of Shipping Organizaions. Introduction to Bankruptcy: – Preparation of Statement of Affairs and Deficiency Accounts for Individual and Partnership, Preparation of Receipts and Payments of Trustee in Bankruptcy. Application of Accounting Packages in preparation of Accounts.

 

ACC  311       Cost Accounting I    2 Units

 

A Historical Review of Cost Accounting Concepts, Functions, Definition, Objectives, Uses etc. Preparation and presentation of cost accounting information for various users and level of management as well as various type of business. Factory Organization and the Cost Accounting Information System, Different Cost Behaviours and Characteristics. Cost Accounting Record Keeping. Cost Control Accounts, Integrated Accounts, Interlocking Accounts. Reconciliation in Cost Accounting. Cost Accounting Methods and Controls for Materials, Labour and Overheads including Accounting for waste, Spoilage and Defective Materials. Inventory Valuation and Control, Cost Control Techniques.

 

ACC 312      Cost Accounting II    2 Units

 

Detailed Treatment of Cost Accumulation System, Viz Job, Process, Uniform, Batch, Contract , Operation, etc. Standard Costing and its Application to the Systems. Accounting for Variances: Quantity, Rate Cost and Efficiency varainces. Various Cost Accounting Methods and Analysis. Problems of Cost Accumulation. Process costing including Accounting for joint and by-products as well as spoilage. Marginal Costing: Brake even and CVP Analysis. and the Budgetary Process. Cost Termination and Estimation Techniques. Cost statements and Cost Audits, Behavioral Aspects of Cost Accounting.  Absorption Costing, ABC Analysis Techniques. Topical issues in Cost Accounting.

 

ACC 331       Taxation I    3 Units     

 

Principles and Tax Administration in Nigeria; Definition, nature and objectives of Taxation, General Principles of Personal Income Tax; History of Taxation in Nigeria, The Personal Income Tax Act; Its Objectives and Provisions; The Joint Tax Board: State Board of Internal Revenue; Relevant Tax Authority and Residence for Individuals; Registration of Taxpayers and Filing of Returns, Assessment, Procedure and Collections, Objections and Appeal Procedure. Distinction between the taxation of income and the taxation of capital, Incomes and Persons Chargeable: Chargeable Income; Persons Chargeable; Items Specifically Allowed and Disallowed; Incomes Exempted From Tax; Reliefs and Allowances; Marginal Tax Rate. Determination of Tax Liability: Application of Basis Period in Determining Tax Liability; The Commencement Rule; The cessation Rule; Change of Accounting Date; Capital Allowances; Basic Period for Capital Allowances; Income from Partnership; Income from Employment; Assessment and Collection, Pay As You Earn, Taxation of the Income of Trusts and Estate; treatment of losses; Loss Relief, Tax Related Fiscal Policies; Changes in Legislation And Emphasis, The Reform of the Nigeria Tax System. Double Taxation Arrangements and Reliefs; Residence for Individuals, Residence for Companies, Dual Residence for Individuals, Double Taxation Arrangements and Reliefs; Taxation of Non-Resident Individuals; Tax on Turnover Basis. The small company provisions including definitions, computations and exemptions.

 

ACC 351      Fundamental of Government  Accounting Systems    3 Units

 

Historical Development of Government Accounting; Financial Authorities and Legal Aspects of Government Accounting. Nature and Objectives of Government Accounting. Distinction Between Government and Private Sector Accounting and introduction of IPSAS, Forms and Documents used in Government Accounting. Vouchers and their uses and Preparation, The Basis of Government Accounts – IPSAS Cash and  Accrual Basis in Government Accounting, Bank Reconciliation Statements; Recording of Expenses and Revenue in Government –Departmental Vote Expenditure, Abstract Book, Departmental Vote Revenue Abstract Book. Consolidated Revenue Fund, Public Accounts Committee, Development Fund.

ACC 361      Quantitative Techniques in Accounting I     2 Units

Introduction  to Quantitative Application in Business. Tools and Concepts of Quantitative Analysis – Probabilities, Matrices, Calculus etc. Business Decision Theory and Analysis: Decision making under certainty Risk and Uncertainty; Decision Rule. Sensitivity Analysis, Estimation of Cost Behavoiur Patterns, Correlation/Regression Analysis etc., Accounting Arithmetic.

 

ACC 362     Quantitative Techniques in Accounting II    2 Units

 

Optimization Techniques – La Grance Models, Maximization and Minimization Problems. Linear Programming  Techniques – Graphical and Simplest Approaches. Transportation Algorithms;  Assignment Problems. Game Theory, Queueing Theory and Business Applications. Simulation Techniques. Markov Chain and Analysis. Network Models – pert and CPM Inventory Control Models, etc.

ACC 372      Research Methods    3 Units

Definition and types of research, problems associated with research in accounting especially in developing countries. Selecting and formulating project topics and titles. Expected contents of project. Literature review; strategies, scope, plagiarism, relevance, conceptual framework etc. Citation and referencing. Research methodology, population and sample. Questionnaire design, validation and administration. Statistical measures and scales, parametric and non-parametric statistics, hypothesis testing. Reporting research findings. Application of computer packages.

 

ACC 401    Advanced Financial Accounting (V)    2  Units

 

Review of Companies Account: Preparation of Financial Statements For Publication; Application of Standards (IFRS) and Legislations in Preparation and Presentation of Financial Statements; Preparation of Profit and Loss Account, Balance Sheet, Value Added Statement, and Cash Flow Statement Using both Direct and Indirect Methods. Detailed Group Accounts: Parent Company and its Subsidiary (ies) and Associates. Treatment of Non-controlling Interest, Goodwill, Pre-and Post Acquisition Reserves, Intra – Group Transactions, Dividends, Peace Meal Acquisition, Indirect Subsidiaries. Consolidation of Profit and Loss Accounts, Balance Sheets, Cash Flow and value Added Statements of group companies including Multinational (takeovers, merger, reconstruction, re-organization and Associate Companies). Accounting for Mergers and acquisition: Distinction between Mergers and Acquisition Accounting.  Review of Accounting Standards and their impact on Accounting Practices – IAS, FIRS, and GAAP. Accounting for Foreign Operations – foreign Branches/Affiliate, Method of conversion (Foreign Currency Transactions) Including Treatment of Investment in Foreign Subsidiaries. Case Studies.

 

ACC 402    (Advanced) Financial Accounting VI     2 Units

 

Accounting for Banks and Insurance Industries, Application of relevant Standards (IFRS) and Legislations. Preparation of Financial Statement of Banks: Value Added Statements and Cash Flow Statements of Banks and Insurance Companies, Insurance Claims, Detailed Review of Specialized Acts relating to Banks and Insurance Companies’ Accounts.:- BOFID, Insurance Act, CAMA, NAICOM ACT, Prudential Guidelines. Valuation of Shares of Businesses: – Going Concern and Break – Up Businesses. Interpretation of Financial Statement: Ration Analysis for Working Capital and Statement of Cash flow, and Objectives of Disclosure.  Accounting for Lease: – Finance and Operating Leases. Preparation of Specialized Accounts: – Oil and Gas, Stock Brokers, Farmers and Property Companies, Joint ventures, Investment and Securities, Containers, Consignments, Bills of Exchange, Good on sales or return. Bankruptcy and Liquidation:- Statutory Requirements; Preparation of Statement of Affairs and Deficiency Statements of an Insolvent Debtor, Partnership, and Liquidating Company. Preparation of receipts and payments of receivers and Liquidators.  Accounting for Capital Reduction, preparation and implementation of capital reduction scheme. Accounting for Amalgamation of Companies. Application of Accounting Packages in Preparation of Accounts. Case Study.

 

ACC 403      International accounting    2 Units

 

This Course is designed for Students Interested in Accounting and Financial Control of International Operations: International Accounting Standards, The Preparations, Transaction and Analysis of Financial Statements for Companies with Branches or Foreign Multinational Companies. Accounting and Control Problems of Foreign Companies, The Transfer of Dividends, Cost of Foreign Products, Funds for Directors etc. Capital Flight. The Issues Relating the Internationally Accepted Accounting Standards, International Financial Reporting Standards, International Accounting on Climatic changes and Environmental issues, International Accounting on Energy Development Issues, International Accounting on solid minerals and Sustainable Development, and case Studies of Selected Foreign Companies Operations. Case study of companies.

 

ACC 411          Management Accounting I    2 Units  

         

General introduction – The Nature, Sources, Scope, Purpose etc. of Management Accounting and Information Types. The Role of Management Accounting Information in Organizations. The Nature, Form and Evaluation Criteria for Management Accounting Reports. The Management Information System. Accounting for Management.  Decisions – the Nature and Types of Management Decisions. The Concepts of Contribution and Relevance and their Application in Routine, Non-routine and Special Management Decisions (eg. CVP, Pricing, Resource Consumption etc.).  Accounting for Planning Decisions – The Nature of Goal Setting and Planning. Management Accounting Tools for Short-term Profit Analysis. Planning for Income, Expenses and Costs, including the preparation of Operating and Cash Budgets. Planning for the Long-Term; The Nature of Capital Budgeting and Capital Budgeting Techniques. The Implementation and Control of Capital Projects. Risks and Uncertainty Measurement –  Risk Using Decision Tree Analysis. Special Budgets (e.g. Zero-Based Budgets; Continuous Budgets; Activity-Based Budgets etc.). Its application in Budgeting. Case Study.

 

ACC 412     Management   Accounting II     2 Units

 

Accounting for Control Decisions – Control Theory: A General Consideration, Internal Control; a Systems Consideration.  Accounting Control Tools and Techniques (Variance Accounting and Analysis; Budgetary Control; Ratio Analysis; Sensibility Analysis; Responsibility Accounting; Divisional Performance Measurement ; Intra – Organization Planning, etc) Quantitative  Techniques and Their Application in Management Accounting (Cost Estimation and Behaviour Patterns including Learning Curve Theory; Inventory Management and Control Techniques; Linear Programming; Simulation; Mark or Portfolio Analysis.) Special/Emerging Issues in Management Accounting (Behavioural Aspects of Management Accounting; Management Audit; Throughput Accounting; Resource Consumption Accounting etc.) Feasibility Studies and Selected Case Studies.

 

ACC 421      Auditing Investigation I    2 Units

 

The Theory of Auditing: The Objectives of an Audit, Classes of Audits; Transaction and Procedural Audits, Internal and External Audits; Advantages of Auditing; Qualities Required of the Auditor;  The Concept of Audit Reports. The Legal Framework Of Auditing: Appointment of Auditors; Remuneration of the Auditor; Removal of the Auditor; Resignation of the Auditor; Duties of the Auditor; Rights of the Auditor; Other Legal Matters Relating to the Auditors. Audit Committee: Composition and Duties, Currents Developments; Auditor’s Practical Relation with Members and Directors; Duties and Responsibilities of Directors; Practical Problems in the Relationship between Directors and Auditors. Professional Rules: International Federation of Accountants; International Financial Reporting Standards, Nigerian Financial Reporting Council; The Use and Application of Accounting Standards, The Need for Convergence of Standards ; International Auditing and Assurance Standards Committee, International Standards on Auditing, Nigerian Auditing Standards Committee, Nigerian Standards on Auditing. Commencing a new Audit: Professional Etiquette; Confirmation of Appointment; Letter of Engagement.  Audits Working Papers; Flowchart, Internal Control Questionnaire; Audit Programmes; Compliance Tests; Substantive Tests ; Internal Control; Limitation and Application to Small Organizations. Audit Evidence: The Concept of Audit Evidence; Attributes of Audit Evidence; Sources of Audit Evidence, Auditor’s Attitude to Audit Evidence; The Use of Assertions in Obtaining Audits Evidence; Procedure for Obtaining Audit Evidence; Factors for Assessing Audit Evidence. Interim Auditing: Interim Auditing in Practice; Letter of Weakness. Difference Between Interim and Final Audit; The Procedure for Balance Sheet Audit; Verification of Items in the Balance Sheet; Profit and Loss Account; Post Balance Sheet Events and Going Concern; Audit Certificates. Case Study.

 

ACC 422      Auditing and Investigation II    2 Units

 

The Auditor’s Report: Basis and Elements of Auditor’s Report; Contents of the Auditors Report and Modifications; Qualified Reports; Materiality, Concept of True and Fair View; Audit of Group Accounts; Joint Audits; Sampling in Auditing. Quality Control Audits: The Need for Quality Control in Audits; Audit Plans and Planning Memorandum; The Conduct of Audit Office for Quality Control; Audit Reviews. Professional Ethics: The Code of Conduct for Professional Accountants(IFAC); Professional Rules of Conduct(ICAN); The Auditor’s Liability; Divisible Profits and Dividends. Internal Auditing: Qualities of the Internal Auditor: Internal Auditing in Practice; The Human Aspects of Internal Auditing; Current Trends in Internal Auditing. Errors and Fraud; The Duties of the Auditor in Relation to Fraud and Errors; The Effects of Errors and Fraud on Published Financial Statements; Indications of the Existence of Fraud in Practice; International Auditing Scandals; The Sarbanes- Oxley Act. Public Sector and  Specialized Audits: The Audits of Ministries and Government Agencies; Audit of Local Governments; Audit of Parastatals and Public Institutions; Insurance Companies; Charities, Social Clubs and Town Unions, Audits of Micro – Finance Banks. Investigations: General Framework for Investigations, Special Classes of Investigations: Purchase of Business, Statutory Investigations, Bank Evaluation for Credits, and Accountant’s Report for Prospectus and Case Studies. Forensic Audit: Concept, Meaning and Procedure; Emerging Issues in Auditing and Assurance; Transnational Audits, Transnational Audits, Environmental and Social Audits. The Use of Computers for Accounting and Audit; Problems Associated with Computer Based Systems, Controls in Computer- Based Systems; The Audit of Computer – Based Systems; Computer Assisted Audit Techniques. Case Study.

 

ACC 432     Taxation II    2 Units

 

Taxation of Limited Liability Companies: Company Income Tax and Company Income Tax ( Amendment) Act 2007, The Federal Inland Revenue Service Board: Composition, Duties and Powers, The Federal Inland Revenue (Establishment) Act 2007: Administrative Machinery, Pioneer Legislation. Profits Chargeable: Computation and Adjustments, Capital Allowances, Loss Relief , Basis Period , Commencement, Cessation, and Change of Accounting Date, Minimum Tax, Withholding Tax, Education Tax, Tax on Turnover Basis, Returns, Assessment and Collection, Objections and Appeal Procedure, Taxation of Non – Resident Companies, Double Taxation Arrangements and Reliefs. Taxation of Specialized Companies: Insurance Companies, Airlines, Shipping and Cable Operating and Telecommunication Companies, Banks and Other Financial Institutions. Value Added Tax: General Principles and Objectives, Vatable Goods and Services, Exempt Goods and Services, VAT in relation to Capital Assets International Dimensions of Value Added Tax. Capital Gains Tax:  Administration and Application, Deductible and Non- Deductible Expenses, Exemptions, Partial Disposals and Delayed Payments, Relief from Double Taxation and Roll – Over Reliefs, Acquisition by Share Transfers. Petroleum Profits Tax:  Administration of PPTA and Relevant Tax Authority, Definitions of Petroleum Operations, Meaning of Disposal and Disposed of, Profit Exempted from PPTA, Allowable and Non – Allowable Deductions, Accounting Periods and Payment.  Tax Concept of Posted Price, Gas Adjustment Factor, Capital Allowances Under PPTA, Tax Off – Sets and   Petroleum                                                                                                                                                         Investment  Allowance, Chargeable Profit, Chargeable Tax and Additional Tax , Treatment of Losses, Memorandum of Understanding, Joint Venture Contracts and Production Sharing Contract. Anti-Avoidance Rules and International Dimensions of Nigerian Taxation; Case Study.

ACC 442      Management Information System (MIS)    2 Units
System Concepts, System Classification etc. Concepts of Business Management; Components of Business Organization; Applying System Concepts in Business Management; Information and Data Life Circle; Fundamentals of Different Data Processing Systems. Foundation/Imperatives for Effective MIS; MIS Development Process (System Life Circle) – System Investigation (Study) Analysis, Design and Implementation; System Conversion an Installation; System Documentation; Monitoring and Evaluation; Information System, Strategy and Impact on Management Decision Making Process; Accounting Information System (AIS) and Management Information System (MIS). Case Study.

ACC 451        PUBLIC SECTOR ACCOUNTING

(Prerequisites ACC  351, BAF 333 and BAF 334)    3 Units

 

The Constitution, Legislative and Regulatory Context of Public Sector Accounting: (a) the Financial Authorities (b) the Economic Environment of PSA. Government Accounting Concepts and Pronouncements; (a) Accounting Concepts, Bases and Principles relevant to Government Accounting, (b) the Concepts of Funds, its Relationship to the Entity, Concepts and its Implications for Income Measurement and Valuation, (c) Professional Pronouncements on Government Accounting by the United Nations, the International Committee on Government Financial Management, Chattered Institute of Public Finance and Accountancy (CIPA) and International Federation of Accountants (IFAC), (d) Standardization of Federal and State Government Reporting Formats in Nigeria, (e) International Public Sector Accounting Standards Board (IPASB).

Sources of Government Revenue: (a) Types of revenue [i] Federal Accounts Revenue [ii] Federal Government Independent Revenue. (b) Revenue Collection Agencies – NNPC; FIRS, DPR and NCS, (c) Federation Accounts Allocation Committee – Composition and Functions and Bases of Revenue Allocation. (d) Charges to the CRF (e) Revenue Collection Procedures and Monitoring (f) Preparation of Federation Account, CRF and DF.

Financial Management Cycle in the Federal, States and Local governments: (a) Institutional Framework, (b) Planning and Programming (c) Budgeting Process and Budgetary Control (d) Government Accounting Processes (e) Evaluation, Audit and Review (f) Government Contracts. Case study.

 

ACC 490  Project    4 Units

 

Developing student’s Skills in Analyzing and Writing Reports Based on an Empirical and Library Study of a Specific Subject Matter or Topic in Relevant Financial, Management, Costing, Auditing Areas as chosen by the Students who would be Required to Present a Research- Based Report of not less than 2,000 words at the End of the Session.

Key Ancillary Courses

BAF 331  Financial Management I    2 Units

 

The Nature, Scope and Purpose of Strategic Financial Management. Sources of Costs of Short, Medium and Long-Term Finance. Sources and Problems of New Financing. Capital Budgeting: Capital Investment Decision; Techniques of Investment Appraisal, NPV, IRR, CBC; Capital Project Evaluation; Capital Project Evaluation; Capital Rationing, Strategic Approach to Investment Appraisal; Capital Expenditure Control and Planning; Risks and Return in Investment Opportunities, Management of Working Capital Items; Debtors, Creditors, Cash and Stocks, Preparation of Cash Budgets and use of Cash Management Models. Formulation of Inventory and Credit Policies. Analysis and Interpretation of Basic Financial Statements. Leasing: Types of Lease Advantages and Disadvantages, Taxation and Leasing, Corporate Governance; Corporate Governance Principles, Relationships Among Stakeholders, Bad Corporate Governance Implications for Business Share Capital Performance. Capital Investment Appraisal Techniques for SME’s Financial Needs of SME’s problems, Micro Credit Financing.

 

BAF 332 Advanced Financial Management II    2 Units

 

Business Mergers and Takeovers: Feature, Advantages and Disadvantages of Mergers, Purpose of Mergers and Acquisition Leverages Buy Outs, Determinants and Implication of Dividend Policy. Valuation of Shares, Assets and Enterprises. Risks of Finance and Methods of Avoiding them.  Corporate Strategies; Types, Goals and Objectives, Strategies, Tactical and Operating Planning. Corporate Plan and Budgeting. Long term Financing and Strategic Planning, Banking System and Industrial Finance, Mortgage Finance, Capital Structure of Nigerian Firms. Financial Management Process, Application of Information Technology to Financial Management. International Financial Management: Exchange Rate Risks Management, Role of Financial Institution; International Capital Budgeting and Financing.