Department of Accounting and Finance

Brief History

Philosophy, Aims and Objectives of the Degree Programme

The Department of Accounting and Finance offers courses leading to the B.Sc. Degree in Accounting, which may be awarded with Honors or as a pass degree. The philosophy and mission statement underlying the Economics programmes of the department is to produce graduates equipped with critical skills and abilities to: abstract using simple models that identify the essence of a problem; analyze and reason- both deductively and inductively; marshal evidence, assimilate structure and analyze qualitative and quantitative data; communicate concisely the results to a wide audience, including those with no training in Economics; think critically about the limits of one’s analysis in a broader socio-economic context; and draw economic policy inferences and to recognize the potential constraints in their implementation.

 

ACCOUNTING PROGRAMME:

Philosophy, Aims and Objectives of the Degree Programme

The Department of Accounting and Finance offers a programme of courses leading to the award of B.Sc degree in Accounting with Honours .

The objectives of the programme are to

(i)provide the basic knowledge needed for preparing students for careers in industrial, commercial, public and other human organizations.

(ii)equip the students with necessary skills and competence for recognizing, defining and taking appropriate decisions to solve management and accounting problems of an organization.

(iii)prepare students for the acquisition of professional competence required by national and international accounting bodies.

(iv)provide a strong academic background for research and post-graduate studies.

In achieving these objectives, the Department places much emphasis on quantitative approach to financial statements analysis and managerial decisions making and the students are exposed to all areas of Accounting such as Financial, Cost, Management, Auditing and Control and Public Sector Accounting and Finance Management.

The Degree

The B.Sc. (Honours) degree in Accounting is a 4-year programme for candidates that possess Secondary School Certificates and a 3-year programme for candidates that possess higher qualifications such as G.C.E. ‘A’ Level and N.C.E. The programme provides the students with broad scientific and professional knowledge which prepares them for successful career in varieties of occupations.

Admission Requirements

The criteria for admission into the programmes will be as follows:

(a)        UME: Candidates on a four-year degree programme must have

(i)         passed at credit level five subjects including English Language, Mathematics,

Economics and at least one other subject from Government, Geography, Business Methods, Accounting, Commerce and Statistics at not more than two sittings at Ordinary Level S.S.C.E., G.C.E. or N.E.C.O.

(ii)        written and passed the JAMB examination in English Language, Mathematics and

any other TWO social or management science subjects.

(b)        Direct Entry: In addition to the requirements in (a)(i) above, candidates on a three- year degree programme must have

(i)         passed at least two subjects in H.S.C., G.C.E. ‘A’ Level which must include

Accounting as a subject; or

(ii)        OND in Accounting with a minimum of lower credits grade; or

(iii)       HND in relevant discipline with at least lower credit; or

(iv)       Passed the P.E.1/Intermediate examinations of a recognized professional

Accounting bodies such as ICAN and ACCA; or

(v)        N.C.E. in Accounting or Economics/Mathematics combined, or any other relevant subjects combinations with a minimum of 10 points; or

(vi)       An acceptable grade at the Fountain University Degree Foundation Programme.

Graduation Requirements

To graduate, a UME student must have                                                                 

(a) completed and passed the following minimum number of units at each level

100 Level –   40

200 Level –   44

300 Level –   40

400 Level –   36

       Total = 160

including all compulsory courses specified by the University/Department;

(b)        completed and met the standards for all required and optional courses;

(c)        obtained a minimum GPA of 1.5; and

(d)        met other requirements that may be prescribed by the Department, College& the Senate.

To graduate, a Direct Entry student must have

a)         completed and passed the following number of units at each level

200 –   48

300 –   46

400 –    36

        Total = 130

including all compulsory courses specified by the University/Department;

b)         completed and met the standards for all required and optional Courses;

c)         obtained a minimum CGPA of 1.5; and

d)         met other requirements that may be prescribed by the Department, College and the Senate.