An academic department is measured in many ways, from the validity and innovation of its research to its ability to rigorously impart knowledge that is relevant to the workplace. The Department of Accounting in Covenant University is by every measure one of the finest in the nation. The Department offers an impressive range of courses to provide pragmatic, professional and theoretical training for careers in many different industries, teaching field, and public sector. The Department’s academic programme is rich in depth and breadth. This flexibility coupled with outstanding academically and professionally qualified faculty members made the accounting programme the most popular programme offered in the College of Development Studies in Covenant University. More students in the College of Development Studies major in accounting than in any other disciplines. There are statistics to support this claims. From the commencement of the University of 21st October in the 2002/2003 academic session the Department has had the largest admission applications and students population. The outstanding qualities of the Department of Accounting which has translated to a good number of first class degree output is well known to various communities including corporations and organizations who have discovered these impressive qualities through our innovative Accounting Students Industrial Work Experience Scheme (ASIWES) with industries and accounting firms, and very unique accounting laboratory, for accounting practical and software applications, the impressive depth and breadth of subject matter and academic leadership in the Department. Some of our students pass their professional examinations like the ICAN-ATS, ICAN Professional, ACCA etc while still in school. Some of them have actually won prizes in the Institute of Chartered Accountants of Nigeria examinations at the ATS and professional levels in 2002/2003, 2003/2004 and 2005/2006 respectively. The unique Accounting Laboratory which has been equipped with over 100 units of personal computers, modern accounting software, and statistical software packages have ensured that our graduates will continue to be at a competitive and professional cutting edge. This unique arrangement has led to a healthy and robust ‘marriage’ between modern information technology and accounting as it is presently the practice in USA, UK, Canada etc. Students are exposed to a practical side of the use of the various accounting and statistical research packages in the Department of Accounting Laboratory. The Department of Accounting began as a sub-unit in the Department of Business Studies on 21 October 2002 with only One hundred and thirty-six (136) students and five (5) academic staff. All the academic staff is equally professionally qualified with one professor of Accounting who is a Chartered accountant. The staff position has been improving since then. Students are also placed on compulsory industrial work experience in accounting firms, consultancy firms, banks, insurance companies, manufacturing firms and government establishments. The students’ population, as at 2005/2006 academic year rose to seven hundred and sixty-six (766). The Department of Accounting has a range of courses which provides a solid understanding of the fundamental techniques and practices of modern accounting. Our curriculum reflects many years of teaching experience and is continuously updated to incorporate the latest development in accounting and important innovations in academic research.
The specific objectives are:
- The continuing search to expand the scope of application of the Accounting, Taxation and Public Sector Accounting, Entrepreneurship & Financial Studies disciplines in order to promote and enhance national economic development. In this regard, the Department seeks to stimulate interest and provide needed leadership, in research and experimentation in all branches of Accountancy, Taxation, and Entrepreneurship and Financial Studies.
- The need of the professional in Accounting and Taxation to see himself/herself as a member of the organizational team whose collaborative effort is required in order to achieve organizational objectives. This requires that the Accountant or Taxation expert should have reasonable grounding in all aspects of Economics, Computer, and management in addition to his/her specialization
- The need to inculcate requisite attitudes, ethics, and skills of professionalism. To this end, student and staff interaction with the everyday practitioner is encouraged and facilitated through Industrial Training Programme of the Department.
- The need to inculcate moral and spiritual values on the graduates of the Department. Such values are expected to permeate his/her thinking and moderate his/her behavior always whether in the classroom, industry or private practice.
- To facilitate the creation of entrepreneurial spirit among young men and women who can help to exploit the available resources and opportunities in the country and elsewhere.
- To produce accounting and taxation teachers and researchers in order to keep pace with the ever-rising standards for accounting and taxation education in the world.
- To facilitate the education and training of accountants, taxation practitioners and financial managers and SME owners.
- To help produce teaching materials and literature more appropriate to the Nigerian environment through research and cross-fertilization of ideas in the classroom.
Laboratories / Studios
The unique Accounting Laboratory which has been equipped with over 100 units of personal computers, modern accounting software, and statistical software packages have ensured that our graduates will continue to be at a competitive and professional cutting edge. This unique arrangement has led to a healthy and robust marriage between modern information technology and accounting as it is presently the practice in USA, UK, Canada etc. Students are exposed to a practical side of the use of the various accounting and statistical research packages in the Department of Accounting Laboratory.
The minimum entry requirement for admission into the Department of Accounting is GCE O/L, SSCE/NECO or any other relevant and acceptable equivalent Credit level pass in five (5) subjects including English Language, Economics, Mathematics, and any two (2) other social science or art subjects obtained at not more than two (2) sittings prior to August of the year for which admission is being sought. Literature-in-English cannot be substituted for English Language but Further Mathematics may be substituted for Mathematics. For postgraduate admissions, the applicant must in addition to satisfying the undergraduate requirements, possess:
- A good first degree in Accounting of not less than a 2nd Class Lower division from any recognized university within and outside Nigeria – For M.Sc Accounting. *
- A good masters degree in Accounting with at least a 60% grade or 3.50 CGPA from a recognized university – For Ph.D. in Accounting (Direct). **
*Those with a 3rd class degree in Accounting or first degree in other disciplines will be required to undergo a one-year postgraduate diploma course before admission to the M.Sc programme. The candidate must have obtained a CGPA of at least 3.00 or grade ‘C’ to be eligible. **Those with accounting background (B.Sc Accounting, ACA [ICAN] or ACCA) with M.Sc in other discipline or M.Sc Accounting with less than 3.50 CGPA will be admitted to do M.Phil/Ph.D.