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 in the College of Development Studies in Covenant University.
There are statistics to support this claim. From the commencement of the University on 21st October in the 2002/2003 academic session the Department has had the largest number of applications for admission and students population. The outstanding qualities of the Department of Accounting, which have translated to a good number of first class graduates 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 a 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 while still in school. Some of them actually win prizes in the Institute of Chartered Accountants of Nigeria examinations at the ATS and professional levels respectively. The unique Accounting Laboratory, which has been equipped with over 100 units of personal computers, modern accounting software and statistical software packages has 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 the USA, UK, Canada, etc. Students are exposed to the 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 21stOctober, 2002 with only one hundred and thirty-six (136) students and five (5) academic staff. All the academic staff were professionally qualified with one Professor of Accounting who is a Chartered Accountant. The staff position has been improving since then. Students also undertake industrial work experience in accounting firms, consultancy firms, banks, insurance companies, manufacturing firms and government establishments. The students’ population, as at the 2014/2015 academic year rose to four hundred and sixty 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 continually updated to incorporate the latest development in accounting and important innovations in academic research.
The Department of Accounting aims to produce high level graduates in Accounting, Taxation, Entrepreneurship and Financial Management who will contribute, through research and publications to the growth of Accounting knowledge and the improvement of the quality of professional practice in Nigeria and on the international scene. Other specific objectives are to:
i. expand the scope of application of the Accounting, Taxation, Entrepreneurship & Financial Management 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, Entrepreneurship and Financial Management;
ii. sensitize on 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;
iii. inculcate requisite attitudes, ethics and skills of professionalism in accounting. To this end, student and staff interaction with the everyday practitioner is encouraged and facilitated through the Industrial Training Programme of the Department;
iv. inculcate moral and spiritual values in the graduates of the Department. Such values are expected to permeate their thinking, and moderate their behaviour always, whether in the classroom, industry or private practice;
v. facilitate the creation of the entrepreneurial spirit among young men and women who can help to exploit the available resources and opportunities in the country and elsewhere;
vi. 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;
vii. facilitate the education and training of accountants, taxation practitioners and financial managers and SME owners; and
viii help produce teaching materials and literature more appropriate to the Nigerian environment through research and cross fertilization of ideas in the classroom.