Accounting

400 LEVEL

1st SEMESTER

COURSE CODE

COURSE STATUS

COURSE TITLE

L

T

P

U

ACC 401

C

Advanced Financial Accounting I

2

0

0

2

ACC 403

C

Financial Management I

2

0

0

2

ACC 405

C

Tax and Tax Management I

2

0

0

2

ACC 407

C

Auditing and Investigation I

2

1

0

2

ACC 409

C

Management Accounting II

2

0

0

2

BUS 311

C

Management Information System

2

1

0

3

BUS 401

C

Business Policy I

2

1

0

3

ACC 499

C

Final Year Students Project

0

0

18

6

Total

22

2nd SEMESTER

COURSE CODE

COURSE STATUS

COURSE TITLE

L

T

P

U

ACC 400

C

Seminar

0

0

0

1

ACC 402

C

Advanced Financial Accounting II

2

1

0

3

ACC 404

C

Financial Management II

2

0

0

2

ACC 406

C

Tax and Tax Management II

2

0

0

2

ACC 408

C

Auditing and Investigation

2

1

0

3

ACC410

C

International Accounting

2

1

0

3

BUS 402

C

Business Policy II

2

1

0

3

ECN 416

C

Quantitative Analysis for Business Decisions

2

1

0

3

Total

20

Elective Courses

BUS 410

E

International Business

2

1

0

3

ACC 400: SEMINAR: 1 unit

Each student must present a seminar. Each student’s seminar topic must be related to the student’s final year project and shall be assessed by oral presentation and defence

ACC 401: ADVANCED FINANCIAL ACCOUNTING I 3 units

Review of company accounts. Banking accounts, Bankruptcy and liquidation accounts. Acquisition, mergers and take over, capital reconstructions scheme, reduction of share capital, amalgamation, absorption, account for inflation. Analysis and interpretation of financial statement, inter firm and intra firm comparism. The effect of changing money value in income measurement and valuation of assets, current cost and purchasing power methods.

ACC 402: ADVANCED FINANCIAL ACCOUNTING II 3 units

Accounting for groups of companies, preparation of consolidated balance sheet. The elimination of intra-group balances and profits on intra group transactions. Treatment of minority interest. Associated companies, accounting treatment of international groups and consortium, executorships and trusteeship accounts.

ACC 403: FINANCIAL MANAGEMENT I 2units

The nature, scope and purpose of Financial Management; main objectives of business organization, corporate governance, goal congruence and function of financial manager. 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.

ACTC 404: FINANCIAL MANAGEMENT II 3 units

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. Investment and portfolio management: port folio theory, efficient market hypothesis, valuation of securities, risk and diversification, capital assets, pricing models, self insurance and co-insurance.

ACC 405: TAX AND TAX MANAGEMENT I 2units

Companies Income Tax- taxation of special corporate bodies such as air/ shipping lines, banks/financial institution and insurance companies. Withholding tax from dividends and rents computation of capital allowances, franked investment income. Capital Gains - general provision of the capital gains act 1967as amended. Computation of chargeable gains allowable expenses and disallowed expenses. Acquisition and disposal; line purchasing transaction; assets lost or destroyed, death: partnership; exemption and reliefs.

ACC 406: TAX AND TAX MANAGEMENT II 2 units

Petroleum profit tax: general provisions of the petroleum profit tax of 1958 as amended. Administration of federal board of inland revenue and relationship between board and federal inland revenue department. Imposition of tax and ascertainment of adjusted profits, deduction allowed, and losses. Pioneer legislation, Double Taxation reliefs, Tax Management.

ACC 407: AUDITING AND INVESTIGATION I 2 units

The Audit Report – statutory requirement for audit report (Companies Act 1968). Types of Audit Report; professional requirements, duties and powers under statute and case law, independence and ethical consideration. Advanced auditing procedures – internal control procedures, organization structure, separation of duties and responsibilities, authorization procedures, physical controls and suitability of personnel revenues purchases – inventory and cash cycles-cut-off procedures, sampling and statistical techniques, system design and audit considerations. Audit Policy – Audit of group accounts – over subsidiaries; Assessment of materiality and the application of judgment. The Post-audit Client review. The audit of accounts of solicitors and charitable and other non-profit-oriented undertakings, Auditing of computer-based accounting systems. Statistical Sampling in performing the audit Investigations – Investigations for clients prior to investment in on acquisition of a business. Prospectus investigation; special investigations and reports.

ACC 408: AUDITING AND INVESTIGATION II 3 units

The audit of public account- power and control over funds as provided for by the constitution. The status and functions of the auditor general of the federal and states auditors, general public. Audit law and practice in Nigerian banks. Insurance companies, building societies, unit trusts, solicitors etc. Investigation, special engagement and investigation, interpretation of terms of references, general approach, and investigation of acquisitions, mergers, amalgamation etc. Special audits, writing Investigation reports, presentation of reports to management or clients. Forensic examination and report writing, and court testimony. Investigative Accounting: Fraud detection, Accounting violations, theft audits, records tampering investigation, techniques of exposing tax evasion and witness testimony, .

ACC 409: MANAGEMENT ACCOUNTING II 2 units

Investment Appraisal: Capital budgeting and corporate planning. Discounted Cash Flow (DCF), pay back and accounting rate of return, concept of cost of capital and capital rationing, risks and uncertainty in investment decisions. Application of quantitative techniques to management accounting such as least squares, standard deviations, correlation and multiple regressions, business modeling using linear programming and probability models, simulation, learning curves. Performance measurement including the residual income concept,. Decentralization, autonomy and divisional control

ACC 410: INTERNATIONAL ACCOUNTING 3 units

Introduction, dimension of international accounting, exchange rate, accounts for foreign branches and subsidiaries, comparative financial accounting and reporting practices, regulation framework and standards in preparation of accounts for multinational companies, project financing institutions e.g. World bank, IMF and UNO in different countries. Transfer of dividends, funds for foreign directors, cost of foreign products. International accounting standards and financial accounting standards. International taxation and tax management, international budgeting and budgeting control, international auditing and audit.

ACC 499: FINAL YEAR STUDENTS PROJECT 6 units

A systematic field research on current accounting topics approved by a supervisor in the Department. A report of reasonable and acceptable length and quality. Students are expected to present their research based report before a panel of examiner.