Description
Course Overview
This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements – the income statement, balance sheet, and cash flow statement – as well as their interpretation.
UNIVERSITIES IN BENIN REPUBLIC…
Course Objectives
The course gives students the necessary background to:
- understand the concepts and measurements that underlie financial statements,
- develop the skills needed to analyze financial statements effectively, and
- gain an understanding of the choices enterprises make in reporting the results of their business activities.
Admission Requirements
Any applicant who meets the minimum entry requirements for admission into the University may be granted admission, the requirements are :
- O’level Result
- Birth Certificate
- Passport Photograph
REGISTRATION PROCESS
To register for any of the available courses take the following steps
- Click on courses on the menu bar or apply now button to pick a course
- After selecting the course, click apply now to add to cart
- View the cart to fill the application form
- Submit the form to go to the payment page
- Complete the payment form and select method of payment and submit.
- You will receive an email letting you know of your registration and your application status
- You will be contacted by one of our admission team member to guide you on the admission.
- After making the payment of application fee admission letter will be sent to your email with fee structure.
- You will need to make payment of at least 70% of the tuition and acceptance fee for you to be granted access to the course applied for.
- After making the payment an email will be sent to your email with access link to your registered course.
- You study online and can come to school every semester for exams.
FEE STRUCTURE
100 level Fee Structure
180,000 Naira Tuition fee
10,000 Naira Application fee
20,000 Naira Acceptance fee
20,000 Naira Examination Fee
30,000 Naira study kit (t-shirt, course guide, workbook, pen, digital material)
Total 260,000 naira
200 level Transfer Fee structure
180,000 Naira tuition fee
10,000 Naira application fee
20,000 Naira acceptance fee
30,000 Naira transfer fee
20,000 Naira Examination Fee
30,000 Naira study kit (t-shirt, course guide, workbook, pen, digital material)
Total 290,000 Naira
Transfer final year 300 level Fee structure
180,000 Naira tuition fee
10,000 Naira application fee
20,000 Naira acceptance fee
20,000 Naira Examination Fee
30,000 Naira transfer fee
20,000 Naira Project supervision fee
60,000 Naira Certificate fee
20,000 Naira convocation fee
30,000 Naira study kit (t-shirt, course guide, workbook, pen, digital material)
Total 390,000 Naira
CURRICULUM
BUSINESS MATHEMATICS (SMS 101)
Mathematics and Symbolic Logic
INTRODUCTION
One important instrument for communication, but not easily mentioned is the use of figures. Figures are major instrument used for expression, especially where large data are involved. It makes
expression very concise in explanation and interpretation. This makes it important for us to know how mathematical symbols and logic could be used.
Simple Sequence and Series
INTRODUCTION
A series is a succession of numbers, of which each number is formed according to a definite law which is the same throughout the series.
INTRODUCTION TO FINANCE (BFN 209)
NATURE AND SCOPE OF FINANCE
INTRODUCTION
Finance plays a very important role in any business activities, whether public or private sector. Its management is the pillar upon which all economic activities stand. No business can survive or be sustained without finance. In this first unit of this course, we will you will be introduce the nature of finance in a buy & sell enterprise, define finance; explain the role and field of finance.
FINANCE GOALS AND OBJECTIVES OF A FIRM
INTRODUCTION In this unit, we will be shown the financial goal of a firm which is shareholders’ wealth maximization as reflected in the market value of business equity – owners’ contributions/shares.
BASIC FORMS OF BUSINESS ORGANISATION
INTRODUCTION
There are three main forms of business organizations- the Sole proprietorship, Partnership, and Limited Liability Company. Each of these has its own distinguishing features/characteristics, as well as merits and demerits.
COST ACCOUNTING((ACC 305)
BASIC CONCEPT OF COST ACCOUNTING
INTRODUCTION
When cost accountants speak of cost accounting, they have in mind the ascertainment of: a. The cost of manufacturing a product; or
b. The cost of giving a service; or c. The way in which cost can be controlled. In view of the cost of that is involved in manufacturing, the conversion of raw materials to finished goods through the utilization of labour and overhead support, the three basic elements of manufacturing costs are direct materials, direct labour and manufacturing overhead. Cost Accounting is defined as the process of collecting, summarizing, analyzing and reporting in monetary terms tailor made information to management showing the costs and benefits of pursuing each alternative course of action open to management. This first unit of this course will highlight, the purpose of cost accounting, differences between cost accounting and financial Accounting, Essential elements of effective cost Accounting information, cost classification, importance of contribution in Decision Making Relationship between contribution and profit, Relevant and irrelevant costs. Eddy (2004:3)
RECEIPT AND ISSUE OF MATERIALS
INTRODUCTION
Materials management is concerned basically with planning and control of material. Control is a process by which events are made to conform with a plan. Therefore, to control materials, there must be a plan of actions. Planning focuses on such issues as what to store, where to buy, when to buy and how much to buy. The items to be stored will be dictated by the basic functions of the train and the customers it serves. In this unit, we shall discuss the issues relating to receipt and issue of material.
COST CLASSIFICATION
INTRODUCTION
In performing his managerial functions of planning and control, the information about ‘costs’ is of vital importance to the cost accountant. In choosing among alternatives and planning and the optimum utilization of resources, he should know costs of each alternative. Costs data are also needed to make decisions such as pricing, volume, make or buy replacement, assets acquisition, product mix, etc.
Further, the performance of executives and their subordinates can be evaluated and controlled only when a comparison between the costs actually incurred and the costs that should have been incurred is made.
Project Evaluation (BFN 409)
PROJECT MEANING
INTRODUCTION
Ordinarily, a project is an undertaking that requires commitment of human and material resources.Projects require commitment and deployment of resources. As a business manager of the future, you will encounter various projects in your work place or environment. Most of the projects are likely to be private sector driven. They may be manufacturing projects or they could be petrochemical or civil engineering projects. Your key task, as a project evaluator, is to carefully consider each and every project brought to your attention and see how useful or valuable they are. Our first task and which we will accomplish in this unit is to examine the concept of a project cycle. This concept is very important as it gives us an overview of projects. The knowledge so gained, will lead us throughout the duration of this course.
Man Power Planning and Analysis
INTRODUCTION
In Unit 5, we discussed the concept of an engineering evaluation of a project. Engineering evaluation of a project as we saw seeks to evaluate the engineering soundness of a project. This is very crucial especially when the project will be ranked or compared with another project. Every enterprise requires labour. It is labour that coordinates the other factors of production like land and capital. In terms of project evaluation, our concern is to look at the project and examine the human resources aspects. In terms of manpower planning and evaluation, we need to examine the following:
• Key employees
• The key responsibilities
• The qualifications
• Hours of work
• Training and development of the staff
• Remuneration of the staff
Project Income and Evaluation
INTRODUCTION
In Unit 5 of Module 2, we discussed project cost analysis. We discussed how to cost a project, especially a start-up project. We saw that fixed costs and working capital all add up to constitute the project cost. In this unit, we shall discuss the projected income statement which is a very vital statement required for project analysis and evaluation. The key basis for financial planning and project evaluation is financial information. The financial information is required to record,compare and evaluate a firm‘s earning power and ability. In an already existing project, the financial information is already provided since it is a historical data. The income statement or the profit and loss account is a summary of revenues, expenses and net profit of an enterprise for a period of time. This serves as a measure of the firm‘s profitability over the period. For an on-going project or firm, when prepared, the income statement becomes a historical statement. The projected income statement is a forecast of the revenues, expenses and the net profit of an enterprise or project.
