Accountancy – History

BRIEF HISTORY OF THE DEPARTMENT

The Department of Accountancy runs a four year Full-Time or Regular Programme. The programme leads to the award of the Degree of Bachelor of Science, and is acquired through course work and project/original essay. The Bachelor of Science degree programme in Accountancy was established in August 1962 under the Department of Finance. Department of Finance was one of the foundation branches of the Faculty of Business Administration. However, at the end of 1972/1973 academic session, a separate full-fledged department named the Department of Accountancy was created to continue the provision of courses of instruction and necessary facilities in pursuit of learning in Accountancy.

The Department is currently enjoying the accreditation of the National Universities Commission {NUC}, the Institute of Chartered Accountants of Nigeria {ICAN} and the recognition and respect of other relevant professional bodies, like the Chartered Institute of Taxation of Nigeria {CITN}, the Association of National Accountants of Nigeria {ANAN} and others.

PHILOSOPHY

The Departmental academic programme has been developed on the philosophy that the student is entitled to acquire profound theoretical and practical knowledge to equip him to face the challenges of life, to enable him to be self reliant, contribute to national development and be able to cope with the problems of his environment. The curriculum is designed to give him a broad knowledge of business and at the same time concentrate on his special field – Accounting. To this end, emphasis is placed upon professional education of the entire individual and providing him with the background necessary for his effective performance in his career.

OBJECTIVES

The academic programme of the Department is aimed at achieving the following specific objectives:

  • To build in students the basic tenets of academic and social principles for a successful career in accounting.
  • To develop the mind and impact theoretical and practical knowledge that will encourage self reliance in the students.
  • To provide basic knowledge needed to understand and analyse problems related to accounting and financial management in industry, commerce, public service and other human organizations.
  • To equip students of accounting with the skills needed to recognize and define business problems and to take appropriate decisions using modern scientific techniques and tools.
  • To produce leadership and inter-personal relations skills needed for service in organizations.
  • To produce graduates who would be eligible to register, obtain appropriate exemptions and pass professional accountancy examinations (and other related examinations) in Nigeria and abroad.

These objectives have shaped the academic contents of the department’s programme.

SCOPE

The degree programme in accountancy will expose students to the following core areas of Accountancy: Financial Accounting and Reporting, Management Accounting, Accounting theory, Management Information Systems, Taxation, Cost Accounting, Public Sector Accounting, International Accounting, Auditing and Investigation, Business Law, Mining, Oil and Gas Accounting. The courses address the dynamic and constantly changing business environment to equip students with the demands of the current global business changes and equally enable them appreciate the use of accounting results in reaching major organizational decision.