The Accountancy department is an academic department in the School of Management and Business Studies. The department is as old as the college itself. Its history could be traced to the era of Yaba Technical Institute which had a strong bias for technical and commercial subjects leading to award of West African School Certificate in 1948. The programme was phased out after being transformed to Department of Commerce in 1954.
The Department of Commerce was operating with options in Company Secretary, Accountancy and Secretarial Studies under a four-year Secondary Commercial Full-Time residential course. The Department also runs evening classes for those already employed in Industry and Commerce. The department continued to grow and expand. In 1958, Part-Time day release course started in Accountancy which also led to the introduction of same in Banking in 1963.
The Yaba Technical Institute then became Yaba College of Technology. However, in 1970/71, the Department of Commerce was merged with the Department of Management Studies to become Department of Management and Business Studies. In 1981, the introduction of School system gave birth to an independent Accountancy Department, within the School of Management and Business Studies. The aspects of industrial services/short courses programmes were removed to form the nucleus of the college Industrial and Consultancy Services Centre (YABATECH CONSULT).
The ethics of the department is firm discipline and integrity based on professional conduct. This is fashioned in line with the ethical code and conduct of the Institute of Chartered Accountants of Nigeria (ICAN). In line with this, students of the department of Accountancy are expected to dress corporate in and outside the classroom. They are to comport themselves professionally, keep the rules and regulations of the college.
PROGRAMMES IN THE DEPARTMENT
ND in Accountancy is designed to guide and enable the student have basic accounting knowledge as a technical level manpower who can effectively perform variety of functions in the practice of accountancy. The Objectives are to: Demonstrate a basic knowledge of financial operations in any kind of organization Prepare final accounts of any organization Assist in audit team in audit assignment Assist in basic tax matters Assist in collection of basic data for budget preparation, standard costs and simple variance analysis. Assist in collection of basic data required for investment and other financial decisions Interprete basic ratios, statistical and financial data Carry out preliminary survey and feasibility studies.
HND in Accountancy is designed to guide and enable the student to acquire detailed theoretical, technical and professional knowledge. The progrmme is designed to let the diplomate have a thorough understanding of the specialization areas of the profession such as Financial Accounting, Cost and Management Accounting, Auditing and Assurance, Financial Management. The diplomate will also gain thorough understanding of the professional ethics, research Methodology and Entrepreneurial skill. At the end of the programme, the diplomat should be able to:
1.Prepare financial accounts and records of any kind of organization.
2.Prepare report and interprete group accounts.
3.Set up and operate accounting system for any kind of organization.
4.Report, analyze and interpret financial statement
5.Set up and operate a sound cost and management accounting system for any kind of organization.
6.Advice clients on investment decision making within and outside the stock market.
7.Prepare draft audit programme and carry out audit assignments.
8.Lead a stock taking and cash counting team for audit purpose
9.Carry out special investigation on financial matters
10.Prepare budget, standard costs and analyse variances for control purpose
11.Provide basic data for pricing of products/services and marketing strategies
12.Prepare tax returns
13.Advise on company registration procedure
14.Employ cost reduction methods and equipment for simple managerial function
15. Interprete basic statistical data
16. Carry out survey and feasibility studies.
17. This will place our diplomate in the middle management position in the industry, comment and government.