Exams is here again!!!!

 Let your hard work propel you to a speed so fast that good luck has no choice but to ride with a winner like you. All the best for your exams.

Accounting Software/Package workshop..........Just for you!!!

NUEA - ADSF
In conjuction with
Superior Associate and Salvador Accounitng Institutes


Presents this wonderful events

Don't miss it!!

QUIZ! QUIZ!! QUIZ!!!

For more enquiry contact
Saka:   08146460242
Emmanuel:    08142373843

Email: eksuacc@gmail.com

UPDATED NUESA - ADSF CALENDAR FOR 2015/2016 SESSION

Financial Statement Analysis Multiple Choice Questions

---

NOTE: Attempt all Questions to see the Result at the bottom of this page.

---

1. 1)
   
   If current assets are Rs. 15.6 million, current liabilities Rs. 11.2 million and stocks Rs. 1.8 million, what is the acid test ratio?
   
   
   • A) 1.39
   • B) 1.23
   • C) 1.65
   • D) 0.89


2. 2)
   
   What will be the effect of conversion of a portion of bonds payable into common stock on the interest coverage ratio of the company?
   
   
   • A) Increase
   • B) Decrease
   • C) No effect
   • D) Can not be found from the given information


3. 3)
   
   What will be the effect on the inventory turnover ratio of the company, if it changed from FIFO to LIFO during the period of inflation?
   
   
   • A) Increase
   • B) Decrease
   • C) No effect
   • D) Can not be found from the given information


4. 4)
   
   Assume that a company has current assets of Rs. 60,000, current liabilities of Rs. 35,000 and prepaid expenses of Rs. 5,000. Calculate the quick ratio of the company?
   
   
   • A) 1.57
   • B) 1.71
   • C) 1.86
   • D) 0.58


5. 5)
   
   A complete set of financial statements for Hartman Company, at December 31, 1999, would include each of the following, EXCEPT:
   
   
   • A) Balance sheet as of December 31, 1999
   • B) Income statement for the year ended December 31, 1999
   • C) Statement of projected cash flows for 2000
   • D) Notes containing additional information that is useful in interpreting the financial statements


6. 6)
   
   Failure to record the receipt of a utility bill for services already received will result in which of the following?
   
   
   • A) An overstatement of assets
   • B) An overstatement of liabilities
   • C) An overstatement of equity
   • D) An understatement of assets


7. 7)
   
   Which of the following is the proper journal entry to record Ransom Company's billing of clients for Rs. 500 of services rendered?
   
   
   • A) Debit Cash 500; Credit Accounts Receivable 500
   • B) Debit Accounts Receivable 500; Service Revenue 500
   • C) Debit Accounts Receivable 500; Credit Capital Stock 500
   • D) Cash 500; Credit Service Revenue 500


8. 8)
   
   Which of the following transaction have an effect on expense account?
   
   
   • A) Purchase of office equipment on credit
   • B) Payment on accounts payable
   • C) Repayment of principle of bank loan
   • D) Payment of wages


9. 9)
   
   A business has purchased machinery on credit, what will be its journal entry?
   
   
   • A) Cash - (Debit); Machinery - (Credit)
   • B) Machinery - (Debit) ; Accounts payable - (Credit)
   • C) Accounts payable - (Debit) ; Machinery - (Credit)
   • D) Machinery - (Debit) ;Cash - (Credit)


10. 10)
    
    Which of the following is NOT normally required for revenue to be recognized according to the revenue principle for accrual basis accounting?
    
    
    • A) The price is fixed or determinable
    • B) Services have been performed
    • C) Cash that has already been collected
    • D) Evidence of an arrangement for customer payment exists

Second Semester Resumption Date Announced!!!

This is to inform all Full Time Degree Student of Ekiti State University Aocoed - Chapter that the resumption date for second semester 2015/2016 session is on the 29th of March 2016. Respective student are implored to resume immediately as academic activity will commence with immediate effect.
Thanks
Mgt.

P.R.O

Happy Mattriculation Accounting Department and all other freshers

 

We wish all freshers Happy matriculation as they are recognized today as fully as a student of this great institution. As you see the beginning, so shall you see the end. Happy Matriculation

NIGERIA STOCK EXCHANGE MARKET TOUR!!!

NIGERIA STOCK EXCHANGE MARKET VISITATION DETAILS

Nigeria stock exchange market visitation..... check details

Director's Cup photo shoot

The Champions!!!

“With profound gratitude to God almighty and endless appreciation, for the fabulous victory attained during the director's cup by the department, which featured gold medals in the scrabble, athletics and other competition, and most significantly emerging as winners of the football cup. It is indeed another ground breaking achievement for the prestigious department. Finally all the prayers, handwork, selfless efforts, and determination paid off, and one of our great desires has become a reality. We believe that this shall, be the beginning of greater achievements. We appreciate everyone who duly represented the department in full capacity, and also the supporting team, we together made this happen.Of the greatest Nigerian accounting students!!!”

Directors Cup

The ongoing directors cup matches, fixtures and updates. follow us live as we bring to you the momentum, drilling, joy of football.
latest match update

Male
 25/1/2016
 AcctDept. 1- 0 English Dept.

G & C 1 - 1 EMT







26/1/2016
AcctDept. 1 - 1 Comp. Sci
Emt Dept  3 - 0 Sos Dept

27/1/2016
Eng |Dept 0 - 0 Comp. Sci
 G&C    1 - 0    SoS

Semi Final
Emt 0 - 1 Comp. Sci
Acct. 0 -0 G&C p* (5-4)

Final
Acct. 0 - 0 Comp. sci  P*(4-2)
Winner Accounting Dept.

Female
Semi Final
Acct 0 -0 G&c P*(2-4)

EMT 1 -0 SOS

Final
Emt 0 - 1 G&C

Scrabble Challenege..... ... Unravel your world of words

Screening Exercise Notice for 100 level Student

FG to adopt IPSAS accrual-based accounting

The Accountant-General of the Federation (AGF), Ahmed Idris has said that Federal Government would adopt International Public Sector Accounting Standards (IPSAS) accrual-based accounting standards by January 2016.
Alhaji Idris made this known when he paid a courtesy visit to Babachir Lawal, the Secretary to the

Foreign Exchange Crisis: CBN lifts ban on cash deposit of dollars, others

CBN Governor, Godwin Emefiele

The Central Bank of Nigeria has lifted a ban stopping commercial banks from accepting cash deposits of foreign exchange from customers.
The CBN governor, Godwin Emefiele, who announced the decision in Abuja on Monday, said the new directive took immediate effect.
Mr. Emefiele said the CBN would henceforth equally discontinue its sales of foreign exchange to Bureau de C

Celebration ! Celebration ! 400 Level Students of EKSU Aocoed-Chapter

Just like yesterday, just like a seed germ planted, and as time goes on it began to grow roots and wide. It was dream and now it has become a REALITY. Many thanks to all the students of Ekiti State University, Aocoed Chapter and most especially the 400 Level Accounting Students

Welcome Back!!!

We wish all student  welcome  back to campus and happy resumption