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Accountancy


Accountacny Department

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BRIEF HISTORY OF THE DEPARTMENT

The Accountancy Department of Madonna University, Nigeria. Okija Campus was established 28th April 1999. The programme equally started in the Faculty of Management Sciences in the same year.

PHILOSOPHY OF THE PROGRAMME

The philosophy underlying the course – Accountancy – in this department, is to inculcate a spirit of self reliance in our graduates with a view of making them professionally competent to apply this body of knowledge in their work-place practices; real-life solution of financial/managerial problems; and in rendering accounts of stewardship.

Ever since inception, the staff strength and quality of graduates kept increasing year-after-year, while graduating up to eleventh (11th) set of graduates. The department has equally distinguished itself in innumerable ways that are evident in the high level of passes our students record in ATS/ICAN examinations; and in the employers’ ratings of our graduates (Alumni).

OBJECTIVES OF THE PROGRAMME

However, the degree programme in Accountancy has the following primary/specific objectives:

 To provide the students with a comprehensive knowledge of accounting concepts and related functional and research disciplines, as a basis for effective professional growth;

 To prepare students as future accountants who should be able to handle high –quality accounting work in private and public sector organizations

 To develop analytical and communication skills to enable them carry out challenging professional tasks and management challenges in their environments.

 To prepare these students for future responsibilities and opportunities of accounting

career in this era of advanced technology and computerization, developing their mind power, expertise in business decision making, intellectual curiosity and cope with demands of their offices.

 To implant the need for transparency, accountability and probity in the minds of the

            future accountants.

SCOPE OF THE PROGRAMME 

The degree programme in Accountancy will expose students to the following core areas of Accountancy: Financial Accounting and Reporting, Management Accounting, Accounting Ethics, Accounting theory, Management Information System, Cost Accounting, Public Sector Accounting, International Accounting, Taxation, Bankruptcy and Executorships Accounts, International Financial Reporting Standards, Auditing and Investigation, Commercial 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.

ADMISSION REQUIREMENTS

A candidate seeking admission into the B.Sc programme in Accountancy has to satisfy both the university minimum entry requirements, and Departmental requirements. The basic entry requirements into Accountancy Department are clearly spelt out by the NUC, and further elaborated in the Madonna University General Academic Rules and Regulation (MUGARR). Admission is usually through:

 Unified Tertiary Matriculation Examination (UTME);

 Direct Entry;

 Inter-University Transfer

 Inter-Departmental Transfer; and

 ATS/ICAN Final Certificate.

Admission through UTME. Candidates must possess a minimum of Five O’Level credits in SSCE, GCE, NECO or their equivalent. These credits must include English Language, Mathematics, Economics, and any other two subjects in not more than two sittings. In addition, the candidate must have acceptable scores in the Unified Tertiary Matriculation Examination (UTME)

Direct entry admission. In addition to satisfying the above basic requirements, the candidate must possess at least two A’Level passes or any of the following qualifications: OND/HND from a recognized polytechnics or a B.Sc degree from a recognized university.

ICAN/ATSWA MEMBERSHIP

All students of the department are encouraged to register as student members of the ICAN, Accounting Technician Scheme of West Africa (ATSWA). In pursuit of this objective, students are highly exposed to practical accounting environment through the Supervised Industrial Working Experience Scheme, as on the path of making them professional Accountants on/after graduation.

JOB OPPORTUNITIES 

The programme, Accountancy, involves theories, quantitative methods, and policy analysis designed to equip the students for a variety of positions. Graduates of Accountancy are found in different fields of human endeavour, both in the public and private sectors of the economy. A growing number of accountants serve as financial, cost/management accountants; internal/external auditors; Forensic Investigators; Tax Consultants; Bankers; Stockbrokers; administrative personnel officers; Public relation officers; Career diplomats; Intelligent officers; Social workers; Investment analysts; Lecturers; Research specialists in all levels of government, in the university and private research organizations. Above all, our graduates are equipped to pursue graduate programmes in Accountancy and other allied courses; and are well tutored to strive for membership of national and international professional Accountancy bodies like – ICAN, ACCA, etc.

REQUIREMENTS FOR AWARD OF A DEGREE

To earn a degree in Accountancy, all compulsory courses must be taken, and passed. All courses taught during each semester shall be examined at the end of that semester. Candidates will be credited with the number of courses units assigned to the course, which they have passed. The total number of units taken with the number of courses shall also be recorded for the purpose of computing the cumulative grade point average (CGPA). The continuous assessment has 30 percent of the marks for any course taught. Classes of degree are to be awarded depending on the CGPA obtained.

Even when a student repeats the same course once or more before passing it, grades scored at each, and all attempts shall be included in the computation of the CGPA. Grades obtained in all the registered courses whether compulsory or optional, whether passed or failed must be included in the computation. The minimum number of credit units required for the award of a degree is 159 units. This must be satisfied by a student before a degree is awarded.  

COURSE LOAD

A student shall be required to register for an approved combination of courses with a minimum of 15 units, and a maximum of 24 units per semester. No student may register for a number of units higher than the approved maximum units unless with the approval of the University Senate.

   

AWARD OF DEGREES

A student shall qualify for the award of B.Sc degree in Accountancy, when he has:

i. Completed and passed prescribed number of units including all compulsory courses specified by the university, and department,

ii. completed, and met the standards for all required, and optional courses,

iii. Obtained a minimum cumulative GPA (Grade Point Average) of 1.50, and

iv. Met other requirements that may be specified by the Faculty, and the University.

CLASSES OF DEGREE 

The classes of degree to be awarded will depend on the Cumulative Grade Point Average (CGPA) obtained. The following classes of degree are approved:

Classes of degree Cumulative grade point average (CGPA)

First Class 4.50 - 5.00

Second Class Honour (Upper) 3.50 - 4.49

Second Class Honour (Lower) 2.40 - 3.49

Third Class 1.50 - 2.39

Pass 1.0- 1.49

Fail 0.0- 0.99

CREDIT UNIT: This varies according to contact hours assigned to each course per week, per semester, and according to work load carried by student. 

GPA (GRADE POINT AVERAGE) is calculated by multiplying the credit units, and divided by total credit units.

For instance, assume a student with registration number ACC/2013/018 obtained the following scores in a semester:

APPROVED SCORING AND GRADING SYSTEM  

The table below shows the university senate approved scoring, and grading system.

Percentage score Letter Grade Grade Point 

70-100 A 5

60-69 B 4

50-59 C 3

45-49 D 2

40-44 E 1

0-39 F 0

CODING

The coding are in three digits.

1st digit ……………………………………..Year of study

2nd digit ……………………………………. Stress areas

3rd digit ……………………………………. Semester courses

Odd number …………………………….…..First semester

Even number ……………………………… Second semester

For example:

ACC 101 Principles of Accounting I. This implies One Hundred Level Course, Financial Accounting, and First Semester Course

ACC 481 Investment Analysis and Portfolio Theory. This implies Four Hundred Level Course, Finance/Special Areas in Accounting, and First Semester Course.


STRESS AREAS

Financial Accounting 0

Cost and Management Accounting 1

Auditing and Investigation 2

Taxation and Fiscal Policy 3

Public Sector Accounting 4

Computer/Management Information System 5

International Accounting 6

Accounting Theory 7

Finance/Special Areas in Accounting 8

Research Project 9

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ADDRESS
1 Madonna University Road
P.M.B 05 Elele,

Rivers State Nigeria,

Okija, Anambra State Nigeria,

Akpugo, Enugu State Nigeria


CONTACTS
Email: registrar@madonnauniversity.edu.ng       info@madonnauniversity.edu.ng

Phone: 08137180957, 08078130033, 08078129083, 08135955826, 08148396740, 07082137027.

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