History of Accounting in Nigeria - 725 Words

History of Accounting in Nigeria The institutionalization of Accounting started in Britain, from where Accounting was imported to Nigeria. During the preindependence period, in Nigeria, especially before the establishment of the Collages of Arts and Sciences (particularly the one in Ibadan), people who wanted to enroll into accounting profession had to be trained through article ship. This meant that, they had to be attached as apprentices to those in the profession already. When the College of Arts and Sciences in Ibadan (now university of Ibadan) was established, it offered courses in accounting; students were prepared for the intermediate level of ACCA (Chartered Association of Certified Accountants), a British Accounting Body. In†¦show more content†¦To date, one must pass the qualifying professional Examinations of the Institute before she/he become a member, that is a professional Accountant. However, there are provisions for exemption of some stages or subjects, depending on the result shown by the academic transcript of a student. For example, a B.Sc. Accounting graduate from a recognized and accredited University would be exempted from foundation and PE1, while a B.Sc. Accounting graduate from a recognized but non-accredited university would only be exempted from Foundation stage. Other exemption guidelines and many more information about the Institute are contained in its students’ Regulations and Syllabuses. Since 1981, another accountancy body—the Association of National Accountants of Nigeria (ANAN) had been working hard to be registered and obtain recognition of the government. It was on 25th August, 1993 that the Association was granted its charter by Decree no 76 of 1993. It became the second recognized body of accountants in Nigeria. From the period of it recognition up to December 1995, the Association was granting automatic membership to applicants. The association has the plan of convincing the government to allow accounting graduates to attend its Accountancy College for the period of nine months before proceeding to their National Service (NYSC). At the college, students would beShow MoreRelatedCompany Analysis : Salam Oil And Gas Company1445 Words   |  6 Pagesindependent marketer in Oil and Gas Business, This is a business plan on a mere context of entering the oil and gas business in Nigeria and every business like investing in oil and gas start-up need a fore planning on how the business is going to survive in a country where the politicians, businessmen and bureaucrats put almost all their investment due to the fact that, Nigeria is one of the biggest oil producing nation in the world with a very huge oil deposits around the South –South, South-East andRead MoreThe Bombing Of Radical Violence1 059 Words   |  5 Pageslimited scope of attention should also turn to other countries throughout the world, which are experiencing similar and often more fatal events. Since June 2015, Turkey has experienced seven major bombings, five of which were claimed by ISIL, accounting for 229 deaths in the span of 9 months. Major cities, home to well over millions of Turkish civilians, such as the capital Ankara, Istanbul and DiyarbakÄ ±r were all targets. Through that time where was the worldwide support for Turkey? Where wasRead MoreSWOT Analysis of Shell in Nigeria1364 Words   |  5 Pagesis owned by the Shell Transport and Trading Group of Great Britain. These two companies have worked together since 1903. Shell includes companies like Shell Petroleum of the USA (which wholly owns Shell Oil of the USA and many subsidiaries), Shell Nigeria, Shell Argentina, Shell South Africa, and other individual subsidiaries (shell.com). Shells parent, Royal Dutch/Shell Group is the worlds second largest private sector energy corporation in the world, behind Exxon/Mobil and ahead of British PetroleumRead MoreBoko Haram : A Serious Problem1628 Words   |  7 PagesThe State of Nigeria has experienced a growing number of militants across the county. Over the past three years, there has been an increasing threat posed by growing numbers of homegrown terrorists that have managed to become a serious problem to the nation. In recent times, several te rror attacks have been mounted in major towns and cities spread across the country. The major religious terrorist group, Boko Haram, has caused chaos in these areas causing substantial damage in the regions over whichRead MoreThe Ethics Of Business Ethics757 Words   |  4 Pagesbusinesses, small and large, to follow business ethics. There is a particular framework businesses are to follow. However, the reoccurring news headlines of poor business ethics prove differently. Poor business ethics include bribery, corporate accounting scandals, and environmental issues. Business ethics does not provide a list of correct ethical business decisions; rather, it reflects a standard of business to improve decisions. Often times unethical situations will result from choosingRead MoreProgressive Education : Setting An Agenda For Sustainable Development998 Words   |  4 PagesEducation in developing nations: A Case Study-Nigeria According to statistics provided by UNESCO, there are about 10.5 million Nigerian children that are out of school. This accounts for 47 percent of the world’s population of Out of School Children, the highest in the world. According to the UNICEF, the exponential growth in Nigeria’s population has put immense pressure on the public services and infrastructure. With children under 15 years of age accounting for about 45 per cent of the country’s populationRead MorePoor Numbers : How We Are Misled By African Development Statistics992 Words   |  4 Pagesstatistics and what to do about it’ by Morten Jerven Poor Numbers’ overarching message to data users is to take care when using statistics. Morten Jerven, former Economic History PhD student and current Assistant Professor of International Studies, has written many articles about African growth, particularly on the reliability of growth accounting and evidence. He uses a multidisciplinary approach, combining statistical, historical and ethnographic methods to analyse the production and dissemination of nationalRead MoreThe Accounting Profession and Nat39077 Words   |  157 PagesTHE JOURNAL OF ACCOUNTING ANAN Volume 1, No 1, March 2009 Published by: Nigerian College of Accountancy, Jos Postgraduate Professional College and Training Arm of ANAN ...Advancing the Science of Accountancy EDITORIAL BOARD Prof. Edet Robinson Iwok, Ph.D, FCNA Prof. A. A. Okwoli, Ph.D, FCNA Prof. Abimaje Akpa, Ph.D, FCNA Prof. B. C. Osisioma, Ph.D, FCNA Prof. Edet B. Akpakpan, Ph.D, FCNA, Prof. A. C. Ezejulue, Ph.D, FCNA Prof. A. S. Mikailu, Ph.D, FNIA Chairman, Education, TrainingRead MoreThe Effects of Credit Management on the Profitability of Manufacturing Companies in Nigeria (a Case Study of Guiness Nigeria Plc3653 Words   |  15 Pagesneed to be a global set of accounting standards. As companies compete globally for scarce resources, investors and creditors as well as multinational companies are required to bear the cost of reconciling financial statements that are prepared using national standards. It was argued that a common set of practices will provide a â€Å"level playing field† for all companies worldwide (Murphy, 2000). IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). TheyRead MoreConsequences Of Globalisation For Sub Saharan Africa1506 Words   |  7 Pagesworld increases in FDI, social enterprise and the manufacturing sector suggest that there is hope for the continent; with historical social unrest and political deviance thus far preventing wide-spread economic growth and development. Africa has a history of political and civil unrest dating back to the late 19th century and the start of the colonial occupation of African nations. Since independence many nations have struggled with undemocratic governments famous for corruption, embezzlement and money