Season Greeting Greatest Accountants!

Season greetings to you all, wishing you a Merry and a Prosperous New Year!

CELEBRATION OF AN ICON AND INAUGURATION OF NUESA (ADSF) EXCO'S

On this day, we give GRATITUDE to the Almighty Father for this great event.

The Coming Demise And Rebirth Of The Accounting Profession by Russ Alan Prince ,contributor

Like all professionals, accountants are fungible. This is not to say that some accountants are superior to others, for that is certainly the case. The capabilities of individual accountants and the support they receive from their firms can certainly make a significant difference. However, if an accountant was to “disappear,” his or her clients can easily find a qualified replacement. What will happen when technology supersedes the core abilities of most accountants?

2015/2016 session calendar

Calendar for 2015/2016 Session

2015/2016 School Activities Schedule

Resumption Date Announced!

This is to inform all Full Time Degree Student of Ekiti State University Aocoed - Chapter that the resumption date for 2015/2016 session is on the 12th of October 2015. Respective student are implored to resume immediately as academic activity will commence with immediate effect.

Admission List is out!!

This is to inform you all who sat for the Full time degree Post Utme of Ekiti state university, in affiliation with Adeniran Ogunsanya college of education that the long awaited admission list is finally out. candidates who sat for the post utme should kindly go to to the school premises to check their names on the notice board.
or follow the link below to check your name
Admission List

EKSU Vice-Chancellor, Professor Patrick Oladipo Aina Emerges Best Vice-Chancellor in South West Nigeria

“The good works of a man speak for him everywhere he goes and like a golden fish, a good leader has no hiding place as history will preserve his place and achievements for generations unborn to emulate”.

These above were the words of the Chairman, NANS Zone D while presenting the award of the Best Vice-Chancellor in Southwest Nigeria to the Vice-Chancellor of Ekiti State University, Prof. Patrick Oladipo Aina at a ceremony held at the Federal Polytechnic, Ado-Ekiti.

Buhari appoints new Accountant General of the Federation

June 25, 2015 Premium Times

President Muhammadu Buhari has approved the appointment of Ahmed Idris as the new Accountant General of the Federation (AGF), a statement said. The statement on Thursday, signed by Haruna Imrana, the Director Communications, Office of the Head of Civil Service of the Federation, said the appointment took effect immediately.

Nigeria’s N630bn annual food import bill worries Emefiele

By BusinessNews Staff on September 19, 2015

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin  Emefiele, has reiterated his concern over the country’s position as a net importer of agricultural produce with import above N630 billion.
The country imports food products such as wheat, rice, flour, fish, tomato paste, textile and sugar in large quantities

Nigerian banks, the most regulated in the world – CBN

By BusinessNews Staff on September 19, 2015

The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of economic policy, Mrs. Sarah Alade, has said banks operating in Nigeria are one of the most regulated in the world and expressed optimism that the era of bank failure was gone.
Alade declared this at the second

Ease of doing business: World Bank ranks Nigeria 170th

By BusinessNews Staff 

The reforms effort of the immediate past administration of President Goodluck Jonathan may have yielded some dividend as Nigeria moved up five places in the latest ranking by the World Bank Group on the ease of doing business.
The World Bank ranked Nigeria 170th among 189 countries survey, this shows an improvement of 2.9 per cent on the 175 position it occupied last year.
Also, Nigeria was ranked 129 on the ease of starting a business (138 last year), on dealing with construction permits it was ranked 171 as

Accounting Poem (by conel punk)

NO ACCOUNTING FOR TASTE

No accounting for taste.
What you dislike
and called a waste
is what I like.

You call cheese,honey

Accounting Poem (by Larry Potter)

Accounting 143

In my heart you are an asset
But in my mind, a liability
You are an entry I can't forget
That's slowly shaking my equity.

Loving you is an understatement

Fundamental Accounting Concepts

In preparing general-purpose financial statements,

several guidelines that are understood by both the

accountants who prepare them and the users of such

reports should be followed.

These guidelines are called generally accepted accounting principles or GAAP.

Generally accepted accounting principles are actually based on fundamental accounting principles and concepts.
This chapter covers the core concepts in accounting that you need to know before moving on to the more intricate topics.

Lesson 1

Basic Accounting Principles

The Conceptual Framework of Accounting mentions the underlying assumption of going concern. In addition, the concepts of accrual, accounting entity, monetary unit, and time period are also important in preparing and interpreting financial statements. Read more..

Lesson 2

Accounting Elements: Assets, Liabilities, and Capital

The three major elements of accounting are: assets, liabilities, and capital. These terms are used widely so it is necessary that we take a look at each element. We will also discuss income and expense which are actually included as part of capital. Read more..

Lesson 3

The Accounting Equation and How It Stays in Balance

The accounting equation is the unifying concept in accounting that shows the relationships between the accounting elements: assets, liabilities, and capital. In this lesson, you will learn about the basic accounting equation and how it stays in balance. Read more..

Lesson 4

Accounting Equation: More Examples

Here are some more sample transactions and their effect to the accounting equation. Read more..

Lesson 5

Expanded Accounting Equation

The expanded accounting equation is the same as the basic accounting equation except with the capital portion broken down into: owners' contributions, owner's withdrawals, income, and expenses. Read more..

Lesson 6

Double Entry Accounting System

The double entry accounting system emerged as a result of the industrial revolution. Merchants in the olden times recorded transactions in simple lists. Business became more and more complex, hence the development of more effective ways to keep track of business transactions. Read more..

Lesson 7

The Accounting Cycle: 9-Step Accounting Process

The accounting cycle, also commonly referred to as accounting process, is a series of procedures in gathering, processing, and communicating financial information. This lesson takes you through the steps in the accounting cycle. Read more..

Summary

Fundamental Accounting Concepts: Summary

This is a summary of the topics discussed in Fundamental Accounting Concepts under the Accounting 101: The Basics tutorial series.

Test Yourself

Fundamental Accounting Concepts: Quiz

Test your accounting skills with this short quiz in Fundamental Accounting Concepts, under the Accounting 101: The Basics.

Murder at dusk: Female teacher shot dead in Nsukka

By Chinenyeh Ozor; Nsukka

Tension mounts at the University town of Nsukka, Enugu state, following last week’s gruesome killing of a female classroom teacher at about 200 meters to her residence while returning from the state capital where she attended the swearing- in ceremony of newly appointed commissioners in the state.
Crime Guard gathered that the teacher identified as Princess Uzoamaka Onyishi, nee Ugwuokwor, 40 , hailed from Mbu -Akpoti in Isi- Uzo local government area of the state. She had accompanied one of her relations , Mrs. Eze, to attend the swearing-in ceremony of her husband, Mr M.E Eze, who was appointed Attorney -General and Commissioner for Justice in the state, only to be assailed by unknown gunmen, very close to her Uwani-Ugwu residence in Nsukka metropolis.

Princess Uzoamaka Onyishi,

Nigeria’ll implement accrual basis accounting standard —FG

By Funmi Olasupo
The Federal Government has said Nigeria will begin the implementation of Accrual Basis under the International Public Sector Accounting Standards, IPSAS, in January 2016.
The Accountant-General of the Federation, Ahmed Idris dropped the hint in Abuja at a book launch:

Nigerian Accountants Want Government To End Multiple Taxation

In a bid to promote investment and economic development, the Association of National Accountants of Nigeria has tasked the country’s tax authorities to abolish multiple taxation.

Speaking at his inauguration as the new president of the association, Sakirudeen Labode said that the multiple taxation in the country distracts and irritates businessmen and potential investors, adding that doing away with the practice, would bring more corporate organisations and individuals into the tax net.

Labode,

EKSU [Main campus] Post-UTME Result 2015 Released

This is to inform all candidate who participated in the post-UTME 2015 screening of the Ekiti State University that the result of the screening has been officially released.

Instruction to Check your Result

1.Click here to go to the application portal

2. Log-in with your existing login details on the Apply portal (i.e. the email address and password used to register for the Screening

The UNHOLY 3NITY

The UNHOLY TRINITY

On our Visit to the Central Bank of Nigeria, we were opportune to meet with the Head of the Communication Department Mr Uche who was also the Guest Speaker for the Visitation. In his Speech, He talked about something very very important though funny but arrest the mind of we the listeners. He said and i quote "one of the major duty of every central bank of the world is to control the three Economy prices" which he also refer to as the UNHOLY TRINITY. He went further to say that this prices can not be control all at the same time, this is when it all started getting interesting.

Eksu main campus post utme procedures

Ekiti State University (EKSU) Sacks 6 Lecturers, Suspend 300 Students

Ekiti State University (EKSU) Sacks 6 Lecturers, Suspend 300 Students The Vice-Chancellor, Ekiti State University, Ado Ekiti, Prof. Oladipo Aina, has said that the institution has sacked six lecturers and rusticated 300 students for alleged sexual harassment and plagiarism, among others. He spoke to our correspondent in Ado Ekiti, while stressing that his administration was committed to providing basic infrastructure in the school. Aina said vices, comprising cultism, examination malpractice, rape and forgery, among others, that portrayed the university in bad light would soon end. Aina, who said there were no fewer than

Auditors find N183.7bn unaccounted for at NDDC -- Ukura

by Racheal Ishaya
Auditors find N183.7bn unaccounted for at NDDC -- Ukura
NAN-HE-13
Audit
Abuja, Aug. 12, 2015 (NAN) The Auditor-General of the Federation, Mr Samuel Ukura, said N183.7 billion could not be accounted for by auditors who conducted a special check on the Niger Delta Development Commission (NDDC) from 2008 to 2012.
Ukura said this on Wednesday in Abuja after submitting three special reports to the National Assembly.
Two of the reports were on the Environmental audit on the drying up of Lake Chad while the third was on Special Periodic Checks on the activities and programmes of the Niger Delta Development Commission.
Giving a highlight of the report, Ukura said that a lot of discrepancies were noticed in the NDDC accounts, adding that about N183.7 billion was expected to be refunded to the federation.
Ukura said a breakdown of the refund included the N70.4 billion unaccounted for from the mobilisation of various contractors that never reported to site.
It also includes ``N5.8 billion paid to contractors for projects not executed or abandoned. N90.5 billion was spent on extra budgetary expenditure without approval by legal authorities, while un-deducted taxes from contractors are N1.2 billion.
About ``N10.07 billion should be refunded as tax deductions made without evidence of remittance to FIRS. N3.1 billion was transfered to unauthorised accounts and unaccountable staff advances were N1.7 billion.
`` It is our belief that all the money spent by government, if it was properly spent in the region, Niger-Delta would be a better place’’.
Ukura said that N785 million out of N1.1 billion contracts for the supply of furniture to various schools in Delta State was also unaccounted for.
He said that the additional details of their findings were contained in the report he submitted to the Clerk, National Assembly, Mr Salisu Maikasuwa.
On the drying up of the Lake Chad report, Ukura said the reclamation of the lake would revive economic activities of the North East and end insurgency in the region.
``The key message is that Lake Chad is drying up very fast from 25,000 sq. km in 1960 to just 1,500 sq. km as at present. We must save Lake Chad from extinction.
``Right now, the part of the lake with water is in Cameroon and Chad. Hence farmers, cattle breeders in the Nigerian side are suffering and economic activities in the region have dwindled significantly.
``The drying up has brought about so many problems like the clashes between herdsmen and farmers and Boko Haram as well.
`` This is because the youth are idle and like the saying, an idle mind is the devil’s workshop.’’
Ukura said when the committee members on public account at the national assembly were constituted, his office would organise a workshop to enlighten them on the subject matter. (NAN)
RI/IA
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Accounting Education in Nigeria Universities: Challenging or Not?

Accounting Education in Nigerian Universities: Challenges and Prospects 

Introduction

Accounting education in a university incorporates a package of instructional programmes designed to educate “would be” accountants, to make them versatile and adaptable to any of the numerous roles they may be called upon to play after graduation (Anao, 2009). Such education, among other things, seeks to develop concepts, rules, skills, procedures, theories and general knowledge for solving accounting problems (Andersone,1985). It emphasizes the ability to differentiate and integrate alternative problem solving perspectives, the ability

Eksu Old Skul Day Slide Show

Eksu Old Skul Day

It was a memorable day for us as celebrated our first of its kind "The Eksu Old Skul Day:. student wore their best old skul outfits and wonderful grand style you might not have met before.
it was indeed a momentous one. Eksuite   One Love. Greatest Accountants! Great! Photo Slide Shows Coming Soon!!!!!

Old Skul Tins

Its Here
You ask for it and Now you get it!!!
OLD SKUL DAY !!!!             OLD SKUL DAY!!!! OLD SKUL DAY!!!!!!!!!!!!!
EKSU OLD SKUL DAY for the first time in many years.
To create a socialize atmosphere for all eksuites
Come one, Come all in your old skul attire and enjoy endless season of fun!

TIME: 8:00AM TILL DAWN
VENUE:SCHOOL BUILDING

This is to inform all Eksu Accounting Three Hundred (300) Level student of the coming excursion which is of two type; - one official, that which is the Central Bank of Nigeria Lagos Branch
 and the other which is non official of which is the Erin Ijesha Water fall @ Osun state Nigeria. Payment of #1,000 for the CBN and Payment of #3,500 for the Waterfall. Payment should start immediately as there is no much time on our side. Thanks and stay blessed.
P.R.O                                         courtesy: #Accounting Dept. Level Three.
 facebook info link

In the Beginning!

It all started one fateful monday when we all arrived at the place. we had to settle down in a place just to take a space. we were new didn't know anybody and were also few. so we decided to make our stand by joining together our hands. Despite the fact that we are new we still make news, records, history. and we started bubbling like a hot stew. Up to Date we still top the chat. it is a joy rooted down to our heart. All over the place our name is like a race that can not be met talk less gaze. Our life in this place has been by his grace and his mercy on us endureth for ever. amen
Accounting(300L). ONE LOVE!!!

Compliments of the season!!!
Love. the reason for the season!
Supplements of good things, blessing from the highest
 heights joy and supreme happiness to every body. 
Aku - Odun ooooooooo
aseyi se mi oo
a o si ni feyi se ase mo oooo
Ire keresimesi akari oo
lola eludua.!!
amin!
facebook.com/Eksublog

Happy 2015

Happy new year in arrears to all Accounting students.