Nigerian College of Accountancy

Last updated
Nigerian College of Accountancy
Established1994
Director-GeneralDr. FRIDAY E. AKPAN PhD,FCNA
Location
Jos
,
Nigeria
Affiliations International Association for Accounting Education and Research

Nigerian College of Accountancy (NCA), is an educational institution in Jos, Nigeria established in 1994 that is operated by Association of National Accountants of Nigeria (ANAN).

NCA is the training arm of ANAN, following International Federation of Accountants standards and pronouncements in training its students. It is a University member of the International Association for Accounting Education and Research (IAAER). The institution is headed by Director-General Dr. Friday Effiong Akpan. [1] Accountancy graduates with a B.Sc. and Higher National Diploma from Nigerian Universities and Polytechnics qualify for admission to a three-year training program at the Nigerian College of Accountancy. On successful completion of the examinations they earn the designation of Certified National Accountant and qualify to join ANAN. [2]

The College opened in 1994 at Barkin Ladi in Plateau State, admitting ten students for the 1985/1995 academic year. Student numbers were low in the following years, and the college closed down temporarily in 1988. ANAN was chartered in 1993 and the College reopened with 54 students for the 1994/1995 year. Numbers grew steadily, with an intake of 3,300 student in the 2007/2008 year, which runs from September to May. As of 2011 the college was located at temporary premises in the Dogon-Dutse area of Jos.

Currently, the College is temporarily situated at NIGERIAN COLLEGE OF ACCOUNTANCY, College of Accountancy Road, Kwall-Near Jos. It was re-opened for academic and professional work in the 1994/95 session with 54 students; 1995/96 session had 142 students and 1996/97 session had 138 students, in 1999/2000 206 students, and in the 2000/2001 session 384 students, 2001/2002 session 656 students, 2002/2003 session 821 students, 2003/2004 session 1,288 students, 2004/2005 session 1,377 students, 2005/2006 session 2,277 students, 2006/2007 session 3,200 students and 2007/2008 session 3,300 students. Its session commences in September and ends the following May. When at full-stream, the College is expected to have an annual intake of 5,000 professional students and another 1,000 practicing accountants on Mandatory Continuing Professional Development, MCPD.

On graduation from the University or Polytechnic, the accounting graduate qualifies to attend the NIGERIAN COLLEGE OF ACCOUNTANCY (NCA) where he is given proper professional education and training by experienced professional experts with sound educational background. The Nigerian College of Accountancy is headed by a Director General who is a Certified National Accountant. He is the Chief Executive and Accounting Officer of the College. The Governing Board of the Nigerian College of Accountancy consists of eight (8) Certified National Accountants with the Director General as Member/Secretary to the Board.

At the College, the system of lecturing is largely workshop oriented, garnished with tutorials. Visiting lecturers with wide practical experience are invited on periodic basis to provide tutorial to complement formal lectures.

The objective of this system of pedagogy is to develop students’ ability to practicalise theoretical concepts of a given situation. Students of the College are presumed to have mastered the principles and theories of accounting at degree or higher diploma levels at the University or Polytechnic.

It goes without saying that the emphasis at Nigerian College of Accountancy is on practice and integrity, because the training procedure imparts knowledge, aptitude, skill, competence and, of course, beyond that, judgment in the application of these factors to problems in real life situation. Personality Presentation and Professional Ethics such as mode of dressing, development of personal confidence, sufficiency of self-discipline, self-analysis, self-criticism and caution which reduces the possibilities of mistakes and help acceptable ethical standards in serving the public and colleagues, end of the one year full time (nine months) course, students sit for the professional examination –PEA in January and PEB in May.

On passing the professional examinations, the student then qualifies to undertake a two-year supervised practical experience training in any sector of the economy. Thereafter, he becomes eligible to apply for membership of the Association, and if admitted as a member, he will be entitled to describe himself as a Certified National Accountant and to write after his name the designation “CNA”. At this stage, he is a fully qualified professional accountant but he cannot set up an office for private practice until he fulfills additional conditions set out here under. The Nigerian College of Accountancy is the first of its kind to be established by a body of accountants anywhere in Africa.


Related Research Articles

<span class="mw-page-title-main">Accountant</span> Practitioner of accounting or accountancy

An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.

<span class="mw-page-title-main">Certified Public Accountant</span> Title of qualified accountants in many countries

Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. It is generally equivalent to the title of chartered accountant in other English-speaking countries. In the United States, the CPA is a license to provide accounting services to the public. It is awarded by each of the 50 states for practice in that state. Additionally, all states except Hawaii have passed mobility laws to allow CPAs from other states to practice in their state. State licensing requirements vary, but the minimum standard requirements include passing the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting-related experience.

<span class="mw-page-title-main">Chartered Institute of Management Accountants</span> Body concerned with global managerial accounting

The Chartered Institute of Management Accountants (CIMA) is the global professional management accounting body based out of the UK. CIMA offers training and qualification in management accountancy and related subjects. It is focused on accountants working in the industry and provides ongoing support and training for members.

The Institute of Chartered Accountants of Scotland (ICAS) is the world's first professional body of Chartered Accountants (CAs). It is a regulator, educator, influencer and thought leader.

<span class="mw-page-title-main">Chartered accountant</span> Professional designation for accountants

Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognised by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world.

<span class="mw-page-title-main">Association of Chartered Certified Accountants</span> Global professional organization

Founded in 1904, the Association of Chartered Certified Accountants(ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 233,000 members and 536,000 future members worldwide. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development. The ACCA also works in Nepal, India, China and Pakistan.

<span class="mw-page-title-main">South African Institute of Chartered Accountants</span>

The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The institute provides a wide range of support services to more than 48 000 members and associates who are chartered accountants, as well as associate general accountants and accounting technicians.

<span class="mw-page-title-main">Institute of Chartered Accountants of India</span> National professional accounting body in India

The Institute of Chartered Accountants of India (ICAI) is the World's second largest professional accounting body and largest professional accounting body of India under the ownership of Ministry of Corporate Affairs, Government of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India.

The Institute of Chartered Accountants of Nigeria (ICAN) is a professional accountancy body in Nigeria. It is one of the two professional accountancy associations with regulatory authority in Nigeria, the other being the Association of National Accountants of Nigeria (ANAN). The relationship between the two organizations has been tense. In 2007 ICAN attempted to have a bill declaring ANAN void.

The Association of International Accountants (AIA) is a professional accountancy body. It was founded in the UK in 1928 and since that date has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide.

The Association of National Accountants of Nigeria (ANAN) is one of the two professional accountancy associations with regulatory authority in Nigeria, the other being the Institute of Chartered Accountants of Nigeria (ICAN). A consultant offering financial services in Nigeria must be a member of either ANAN or ICAN.

A Certified National Accountant is a qualified professional accountant that has met the educational qualification and professional experience requirements for membership of Association of National Accountants of Nigeria (ANAN), and has been accepted as a member of the association. The Certified National Accountant is also the title of a quarterly journal of ANAN.

The Association of Accountancy Bodies in West Africa (ABWA) is a regional organization of the International Federation of Accountants (IFAC). As of 2011 there were ten West African accounting institutes represented in ABWA.

The Liberian Institute of Certified Public Accountants (LICPA) is a professional association of accountants in Liberia.

CPA Ireland, formerly the Institute of Certified Public Accountants in Ireland, is one of the main Irish accountancy bodies, with 5,000 members and students.

The Chartered Institute of Cost and Management Accountants (CICMA) is a Nigerian – based professional accounting body offering Accounting education and professional qualifications in cost and management accountancy and related subjects, focus on accounting, business and government operations. The head office of the institute is in Kaduna. The institute also has regional offices at Abuja, Kano, Jos and Port Harcourt. As at September 2015, it had 8,200 members working in and outside Nigeria. It also has 4,500 registered students.

The Institute of Forensic Accountants is a professional body representing and providing professional certification for forensic accountants in Nigeria. As of September 2015 it had 4,300 members and 1,800 registered students. The institute was established in March 2007 to regulate the profession of forensic accountancy in Nigeria. The head office of the institute is in Kaduna. The institute also has regional offices in Abuja, Kano, Jos and Port Harcourt.

The Institute of Certified Public Accountants of Uganda is a professional body for certified public accountants (CPAs) in Uganda. As of July 2016, total membership was about 2,000 members.

<span class="mw-page-title-main">Institute of Certified Public Accountants of Kenya</span>

The Institute of Certified Public Accountants of Kenya (ICPAK) is a professional body for certified public accountants (CPAs) in Kenya. ICPAK is a full member of the International Federation of Accountants and the Pan African Federation of Accounting.

References

  1. ↑ "Director General and Team". ANAN. Archived from the original on 2011-08-11. Retrieved 2011-06-11.
  2. ↑ "About ANAN". ANAN. Archived from the original on 2011-08-07. Retrieved 2011-06-11.

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.