ACCOUNTING YEAR 1 - 5 COURSE OUTLINES

ACCOUNTING
ENTRY QUALIFICATIONS
The following are the minimum entry requirements for the listed programmes:
B.SC. PROGRAMME IN ACCOUNTING AND
B.SC PROGRAMME IN BUSINESS ADMINISTRATION
The Accounting and the Business Administration programmes have the same entry
qualifications and both are of 5-year duration for those entering at Year I.
The minimum entry requirement is five CREDITS at the SSC, GCE ‘O’ level or
equivalent, including English Language and Mathematics, and which must be
obtained at not more than two sittings.
Holders of additional, relevant and approved professional qualifications such as
ACCA, ACA, ACMA, ACIA, HND (Upper Credit), ACIS, ACIB, ACII may be
considered for admission at an enhanced level depending on transcript.

 

CLASS: YEAR 1
COURSE CODE	COURSE	UNITS	COMPUTER
	TITLE	STATUS	CODE
ACC 210	PRINCIPLE OF ACCOUNTING	3.C	1
BUS 210	MATHS FOR BUSINESS 1	3.C	2
BUS 211	INTRODUCTION TO MANAGEMENT	3.C	3
CIL 308	BUSINESS LAW	3.C	4
ECN 210	PRINCIPLE OF ECONOMICS(MICRO	3*C	5
ECN 211	PRINCIPLE OF ECONOMICS (MACRO)	3*C	6
IRP 210	FOUNDATION OF INDUSTRIAL RELATION	3*C	7
FSC 103	INTRODUCTION TO COMPUTER	3*C	19
GAS 201	GENERAL AFRICAN STUDIES I	2*R	8
GST 102	INTRODUCTION TO PHILOSOPHY & LOGIC	2*R	613
GST 105	USE OF ENGLISH LANGUAGE I	2*R	608
				30
CLASS: YEAR 2
COURSE CODE	COURSE	UNITS	COMPUTER
	TITLE	STATUS	CODE
ACC 220	ELEMENTS OF COST Accounting	3*C	10
BUS 220	MATHS FOR BUSINESS II	3*C	11
BUS 221	NIGERIA BUSINESS ENVIRONMENT	3*C	12
FBA 220	STATISTICS 1	3*C	13
FIN 220	INTRODUCTION MONEY AND BANKING	3*C	14
ACC313	PUBLIC FINANCE	3*C	601
GST 104	HISTORY & PHILOSOPHY OF SCIENCE	2*R	614
GAS 202	GENERAL AFRICAN STUDENT II	2*R	9
				22
CLASS: YEAR 3
COURSE CODE	COURSE	UNITS	COMPUTER
	TITLE	STATUS	CODE
ACC 310	COST ACCOUNTING	3*C	15
ACC 311	FINANCIAL ACCOUNTING	3*C	16
ACC 321	ACCOUNTING THEORY	3*C	17
CIL 306	COMPANY LAW	3*C	18
FBA 310	STATISTICS	3*C	20
FBA 320	RESEARCH SEMINAR	3*C	21
FIN 310	BUSINESS FINANCE I	3*C	22
CSC 207	DATA PROCESSING & MGT.	3*C	604
GST 105	USE OF ENGLISH LANGUAGE I	2*R	608
GST 102	INTRODUCTION TO PHILOSOPHY & LOGIC	2*R	615
GAS 201	GENERAL AFRICAN STUDIES I		8	**30/24
CLASS: YEAR 4
COURSE CODE	COURSE	UNITS	COMPUTER
	TITLE	STATUS	CODE
ACC 312	TAXATION I	3*C	23
ACC 320	MANAGEMENT ACCOUNTING I	3*C	24
ACC 322	PRINCIPLES OF AUDITING	3*C	25
ACC 411	ADVANCED FINANCE ACCOUNTING I	3*C	26
ACC413	RESEARCH PROJECT	3*C	27	I
BUS 410	BUSINESS POLICY I	3*C	28
BUS412	ANALYSIS FOR BUSINESS DECISION I	3*C	29
FIN 320	BUSINESS FINANCE II	3*C	30
ACC 414	INTERNATIONAL ACCOUNTING	3*C	518
**GST 1 04	HISTORY OF PHILOSOPHY OF SCIENCE	2*R	617
**GST 1 06	USE OF ENGLISH II	2*R	12
**GAS 202	GENERAL AFRICAN STUDIES	2*R	8	**33/27
CLASS: YEAR 5
FINAL
COURSE CODE	COURSE	UNITS	COMPUTER
	TITLE	STATUS	CODE
ACC 41 0	MANAGEMENT ACCOUNTING II	3*C	31
ACC412	PUBLIC SECTOR ACCOUNTING	3*C	32
ACC 420	AUDITING & INVESTIGATION	3*C	33
ACC421	MANAGING INFORMATION SYS. COM. APL.	3*C	34
ACC 422	TAXATION II	3*C	35
ACC 423	ADVANCE FINANCE ACCOUNTING II	3*C	36
BUS 420	BUSINESS POLICY II	3*C	37
BUS 422	ANALYSIS FOR BUSINESS DECISION II	3*C	38
ACC 424	ENTREPRENEURSHIP	3*C	603	27

8.1 ACCOUNTING & BUSINESS ADMINISTRATION
ACC 210: PRINCIPLES OF ACCOUNTING
The nature and scope of accounting; the role of accountants. The accounting function and its relationship with the information systems Organisations. Accounting procedures and systems. Double entry book-keeping accounting systems; the trial balance accruals, pre-payments and adjustment/classification of expenditure between capital and revenue. Methods of recording account data: manual and mechanical. Manufacturing, Trading and profit and loss accounts and balance sheets of a sole trader; Accounting treatment of control accounts and bank reconciliation. Partnership Accounts: Formation, operation and preparation of fin accounts. Incomplete records, accounts of Clubs and Societies. Company accounts: Introduction to Company accounts; simple fin accounts.
ACC 220: ELEMENTS OF COST ACCOUNTING.
Objectives and purpose of Cost Accounting. The principle underlying the preparation and presentation of cost: viz: historical cost, standard cost, marginal cost, average cost, etc. Cost units and cost centres. The elements of cost; and classification of cost.
ACC310: COST ACCOUNTING
A review of the history, principles and objectives (in terms of users) of Cost Accounting (information). Preparation and presentation of Cost Accounting information for various users and levels of management as well as various types of businesses. Cost accounting aspect of materials, labour and overheads. Integrated and uniform cost accounting Job (including contract and batc costing. Process costing (detailed treatment of joint and by products as w as spoilage). Marginal costing (Break-even and cost-volume Analysis), standard costing and budgetary control-variances. Behavioural aspects of cost accounting. Topical issues in cost accounting.
ACC 311: FINANCIAL ACCOUNTING
Company Account: Formation, Issue and redemption of shares and debentures, final accounts, merging, amalgamation, absorption, etc, including statutory requirements of company accounts in respect of each area. Advanced Partnership accounts: Admission, retirement, dissolution charge of interest, including the treatment of goodwill on admission/retirement, conversion of partnership to limited companies, amalgamation of partnerships. Departmental and Branch accounts (Home and foreign branches). Introduction to interpretation of accounts for financial statement analysis Funds flow statements.
ACC 312: TAXATION I
Outline of Nigerian system of Income Tax: administration: structure, and procedures, returns, assessment, appeal, postponement, collection; with reference to all necessary legislation. Distinction between the taxation of income and the taxation of capital. Personal Income Tax: The law and practice of income tax relating to individuals, exempting, treatments of losses.
Computation and as cessable income commencement and cessation of trade or business. Company Tax: the principles and scope of company tax. The small :>mpany provisions including definitions, computations and exemption.
ACC 313: PUBLIC FINANCE SCHEME OF WORK
Content
Income and Expenditure of Government: The Scope and development of Public Finance. Sources of Government revenue. The incidence, allocative and distributional effects of different forms of Taxation and Current expenditure. National Income Measurement and Analysis: Micro-economic environment, national income analysis; the Keynesian model, stabilization policy, Economic significance of the Government sector. Criticism of the allocative and distributional effect of unregulated market forces. The rationale of interventionalist policies. Direct monetary and fiscal methods of intervention. The concepts of public Goods. The problem of externalities, real income distributions and pricing policies, generally. Forms of State enterprises, subsidies, Grants and pricing policies in the Public Sector. The Public Debt. Its causes and consequences. Debt management and its monetary implications. The Characteristics of the Nigerian System, and its implications membership of ECOWAS. The Finance of Local Government; Forms of Local Government. Forms of State enterprises; Subsidies, Grants and Pricing Policies in the Public sector. Assessment of Public Sector projects and services. Element of Cost/Benefit Analysis. Appraisal of Public Sector economic performance.
ACC 320: MANAGEMENT ACCOUNTING I
The nature and objective of Management Accounting. The preparation interpretation and presentation of business budget, forecasts and other advanced forms of cost accounts in aid of Management. Budgets and Budgetary Control, to include Short and Long term budgeting, relationship between budgets and Standard Costing. Preparation of budgets of various types. Types of standard and significance and analysis of causes of variances. Behavioural considerations with reference to known authoritative works. Participation, negation, budgetary slack, feedback. A review of process costing, product including joint and by products and their application decision-making situations. An introduction to investment decision making; returns on capital employed and the payback period, basic discounting techniques Internal rate of returns and net present value. Cost-Volume-Profit Analysis; different models.
ACC 321: ACCOUNTING THEORY
The nature and role of accounting theory. A brief history of the development of the accounting theory. Types of methodology of accounting theory. The regulatory framework and the impact of Government on the development of accounting theory - the accounting Profession, generally accepted accounting principles, Companies Acts, Stock Exchange Commission, etc. Accounting concepts - a review of their evolution, implication, conflicts and possible alternatives. The measurement of periodic net income - net income concepts, revenue and expenses, gains and losses (including extra ordinary items), criticisms: of reported net income and the problem of net income measurement. The measurement of capital. The balance sheet: valuation of assets and liabilities. The impact of price: level changes on financial statements and methods of accounting.
Social responsibility accounting - Corporate social responsibility. Human resources accounting. The current Issues in the development of accounting theory - the work of Standard - setting bodies (Local and International).
ACC 322: PRINCIPLES OF AUDITING
The nature and purpose of an audit. The role of the auditor -internal auditor -internal audit, external audit, reporting responsibilities, appointment, dismissal, resignation. The concepts of "true and fair", "independence of auditor.'" Relationship of auditors to directors, shareholders and other financial statement users. Audit planning-Initial review of accounting system, evaluation of internal control system and procedures, development of an audit programme. Audit Procedures - Vouching of accounts, Verification of assets, sampling techniques, flowcharting, stocking procedures letter of representation; The audit report - statutory requirement for audit report (Companies Act 1968). Types of audit report; professional requirements, Duties and power under statute and case law, independence and ethical consideration.
ACC410: MANAGEMENT ACCOUNTING II
The application of statistical techniques for the presentation of accounting information. Accounting reports for boards of directors, higher executive and external uses. Information for Decision making. Elements of decision making; Cosy concepts and decisions: Use, meaning and measurement of relevant costs; optimisation with limiting factors; idle capacity. Applications of decision making techniques; adoption of new products; product mix; alternative methods of manufacture, discontinuing product lines, make or buy; sell or process further shut down and temporary closure. Application of quantitative techniques such as: probability theory statistical methods, least squares; standard deviation; linear programming, inventory model, learning curves, to management accounting. Performance evaluation and control; measurement of divisional comparisons, performance measurements including the residual income, transfer pricing method.
ACC 412: PUBLlC SECTOR ACCOUNTING
Introduction to Public sector - distinction between Public and Private sectors; basic accounting for not-for-profit (NFP) Organisations. Unique characteristics of NFP, classification of NFP; basic characteristics governmental accounting. Structure of governmental accounting in Nigeria, the treasury, audit apartment consolidated revenue fund, capital and development fund. Financial accounting and analysis - use a self accounting system, fund accounting system and standardised uniform of transaction. Decision making and planning and control of public funds – application to costing methods, budgeting processes, the use of Audit Department Accounting for local government, educational and health institutions, planning, programming and budgeting system (PPBS). Recent developments and issues in public sector - implication of Nigeria’s membership in ECOWAS, effect of restructuring public sectors, etc.
ACC 414: INTERNATIONAL ACCOUNTING
 Internationalization of Accounting
Multinational Enterprises (MNE)
Requirement for MNE
Internal factors that cause expansion in MNE
External factors that cause expansion in MNE
Types of MNE (including characteristics)
Relationships between MNE and their host country
The frequent complains against MNE
 International Accounting Basic
Objective, Types of exchange rate, Method of International Accounting: Temporal method; Close rate method
 Effect of Changes in foreign exchange rate
Problems, Types of exchange rate, Spot rate, Forward rate, Provision of SAS7
 Transfer Pricing
Objectives of TP, Centralization and Decentralization, Problem of decentralization, Control, Evaluation
 Taxation
Principles (both local and international), Burden, Types, Tax neutrality Tax administrations system, Tax domains, Sovereignty domain, Territorial domain, World wide domain, Foreign tax, credit, Tax treaties advantages; Foreign tax incentives, Tax havens, Tax holiday, International tax planning
 Segment Reporting
Segment selection, Information required for each identified segment, Revenue and expenses not directly distributable to the segment
ACC 420: AUDITING & INVESTIGATION
The provision of Company Act of 1968 as they affect the auditor. Advanced Auditing Procedures - internal control procedures, organization structures, separation of duties and responsibilities, authorization procedures, physical controls and suitability of personnel, revenue; purchases; inventories and cash cycles; cut-off procedures, sampling and statistical techniques, system designs and audit considerations. Audit Policy - Audit of group accounts - overseas subsidiaries; Assessments of materiality and application of judgement in materials to be disclosed. The post-audit client review. The audit of account of solicitors and charitable and other non-profit oriented undertakings, Auditing of computer-based accounting. The study and evaluation of internal control system EDP. Flow charting, Attributable sampling; Statistical sampling in performing the audit, use of specialists. Investigation - Investigations of clients prior to investment in or acquisition of a business. Prospectus investigation: special investigations and reports.
ACC 421: MANAGEMENT INFORMATION SYSTEM AND COMPOTER APPLICATION
Introduction to and fundamentals of Data Processing - brief history and conventional data processing methods: Manual methods and mechanised methods. Classification of systems anti
their relative merits. Closed loop and open loop systems: effect on time-lags, the total system approach and objective; total system and sub-systems. Data Processing and Management Information Systems (MIS) organization of MIS including the use of mechanical and electronic accounting machines, flow charting and the principle of system design and documentation. Managerial uses of the information output as a basis of developing criteria systems. Information needs of management and design of MIS Computer and data processing - evolution of the computer and the computer systems, input, output and central processing unit. Hardware and software. Introduction to common computer programming languages used in business (COBOL, FORTRAN, SPSS, etc). Electronic Data Processing (EDP) methods; batch processing real-time processing and the management of EDP. Business system hierarchical structure of organizations; the sub-optimisation issue.
ACC 422: TAXATION II
Business Taxation - Computation of tax. Loss relief and capital allowances (including change of date of reporting, change of fiscal year, and Ioss of office) with particular reference to companies. Relief for small companies and pioneer companies. Capital transfer tax - transfer inter viva and transfer on death, and computation of transfer tax: Capital Gains Tax - as affecting companies; re-organisation, merger, takeover, closed companies, disposal assets directly or indirectly Computation of Capital Gains Tax and deductions allowed, valuation of assets. Replacements of business assets (roll-over relief). Petroleum profit tax; Taxation of overseas activities - corporate and individuals' tax implication of overseas investments. The treatment of tax branch/subsidiary companies. Repatriation of funds and tax implication, dividends, double taxation. Current issues on taxation - Nigerian Institute of Taxation, etc.
ACC 423: ADVANCE FINANCIAL ACCOUNTING II
Accounting for specialized Transactions - Joint Ventures, hire purchase, goods and sales or return royalties, containers, consignments, investments and securities, Bill of Exchange and pension fund. Accounting for Banks and Insurance industries, with special reference to relevant legislations. Interpretation of financial statements - ratio analysis, analysis of working capital and statements of the sources and application of funds and cash flows; and objectives of disclosure.