Accounting and Finance(Phd)


Candidates for admission into the Ph. D Degree programme must possess M. Sc Degree in Accounting or Accounting and Finance with a minimum average score of 60%; or Master of Philosophy (M. Phil.) Degree in Accounting or Accounting and Finance, obtained from Benson Idahosa University or any other university recognized by the Senate of Benson Idahosa University.


  1.  Full-time: A minimum of six (6) semesters, and a maximum of ten (10) semesters.
  2.  Part-time: A maximum of Ten (10) semesters and a maximum of twelve (12)
  3.  For extension beyond the specified maximum period,  special permission of the Postgraduate Board shall be required.



Topics are covered under philosophical concepts including:

a)       Accounting Thought

Accounting archaeology and historical development; trends and development of accounting thoughts; trends in theories and framework development, and application to accounting

practices. Accounting process challenges and the impact of global environment of modern business. Current value accounting controversy and the dilemma of accounting convention. The mechanism and intellectual challenges of multidisciplinary development of accounting and the relevance to current demands in managerial, investment decisions, problems, and functions. Multi-disciplinary and interdisciplinary interfaces of accounting and the impact of composite sub-disciplines on main-streaming of the accounting process. Contemporary issues in accounting.

b)       Regulatory Framework

National and International Standards in accounting, convergence and harmonization of global accounting standards and professional regulatory regimes. Regulatory agencies and challenges of compliance with standards; standard setting, monitoring and compliance enforcement. The challenges of globalization; generally accepted accounting principles and practices. Framework for financial discipline and accounting ethics. Forensic accounting and studies in the law of evidence, International Financial Reporting Standards (IFRSs), and International Public Sector Accounting Standards (IPSASs).


Topics covered include:

a)       Evolution and Development of Auditing as an Intellectual discipline

In-depth study of the history and theory of auditing and relationship with current practices. Auditing as intellectual discipline and a field of global professional practice: Theories and practice standards; collaboration and the culture of global consumer primary. Evaluation of concepts such as independence, evidence, audit significance, statistical data treatment, and substantive testing. Broad scope auditing concept and the review of traditional approach to assurance services. Accounting practices in traditional and contemporary approaches. Financial accounting theory and practices and interface with auditing, assurances and financial reporting; political impact on global accounting practices, Satisfaction of users of accountants’ services; Accounting services beyond reporting. international accounting and auditing standards. The future of the accounting profession.

b)       Professional Practice Issues and Services

Professional practice issues, service consumer satisfaction; professional self— regulation, accounting precipice and the impact of the USA Sarbanes Oxley Act, 2002. Auditing in line with Companies and Allied Matters Act 1990 (As Amended). The Institute of

Chartered Accountants of Nigeria (ICAN) Act, 1965. Practice issues and ethics. Professional practice management and regulations, corporate valuations, responsibility

and social accounting; environmental management accounting. Studies in the future of accounting as a field of global practice.

c)       Auditing Standards

Auditing standards and application to different entities. Auditing of computer systems and the challenges of information Communication Technology (ICT) applications; networked global systems environment. Auditing practices and global best practice standards; comparative audit practices in different countries and the effect on multinational corporations; corporate governance and financial reporting responsibilities. The auditing functions; regulatory, legal and standards compliance monitoring, enforcement and sanctioning procedures. Public and private sector convergence of auditing standards and applicability to diverse entities.

Professional and social ethics; corporate governance; forensic audit and investigations, application of laws, rules, regulations and standards in different environments

d)       Public Sector Audit

Public sector audit and multi-corruption dimensions in under-developed economics. different audit approaches, nature and techniques and the response to contemporary challenges; audit of government and its agencies, supreme audit institutions; global standards project. Constitutional gaps in the national policy on audit and stewardship processes. Audit issues in anti-corruption strategies. Value for money auditing application in broader contexts.

e)       Forensic Audit

Forensic audit and integration of investigation in normal regular audit. Relevance of watchdog approach and the challenges of audit in a corrupt operating environment of less developed countries. Special investigation, corporate reporting issues and global reporting standards.


ACC  913 is pre-requisite for  ACC  924 and ACC 930. Candidates are required to apply the theories relevant to research methodology and field practice and to acquire research skills through supervised hands on experience training. Candidates are assigned to research centre for their interactive work and field exposure, under the guidance of research supervisors. They are expected to participate in real life researches and are guided to formulate and conduct pilot researches towards publications in learned journals. Candidates are required to design and defend pilot research proposals, and  to demonstrate research skills in tackling different research challenges . These will culminate in the presentation of the research proposal and defense of same for approval of doctoral candidacy.


Candidates will be required to demonstrate adequate knowledge of quantitative tools, techniques and mathematical programming analyses of accounting issues, to enable them utilize modeling, probability theory, statistical inferences; regression analyses; equations, calculus, multi-curve linearity, identification, specification problems; dummy variables; and other tools to design, conduct, analyze research data and test hypothesis. Students are required to audit this course as tool of analysis only.


Public sector accounting issues, financial reporting framework, costing applications, management accounting practices and Budgeting; taxation and fiscal policies. Public office accountability culture in developing countries. Comparative national accounting systems and their contributions to development. Comparative studies of accounting for corrupt practices; control of supreme public authorities; accounting for Parliamentary direct spending. Government accounting framework development, Customization and implementation of International Public Sector Accounting Standards (IPSASs). Non financial reporting standards in government. Public governance framework and best practice development. Management of public resources and accountability culture.


This course seeks to deepen students understanding of the more complex problems of tax practices and administration and implications for the future of government revenue. Various tax theories and practical application in national revenue mobilization. Topics should include: tax planning strategies under different forms of taxes, problems of enforcement of tax laws and corrective measures; tax payers census and ascertainment of tax bases. Appeal procedure and fairness in tax administration. Tax assessment challenges; assessment, collection and recovery procedures. Professional ethics and managing a tax practice. Issues of international dimension in tax management. Treatment of issues under globalization trend.


Further work on advanced company accounts including the accounts of banks and insurance companies, and pension operators. The Nigerian Insurance Acts. Valuation of goodwill and company shares. Divisible profits and company dividends. Royalty and hire-purchased accounts. Consolidated and other group accounts. Income recognition and measurement. Elements of mechanized accounting, including the application of computers and related networks with special reference to Nigerian organizations. Framework for financial reporting in public and private sectors. Seminars on accounting system, including business, governmental, municipal and public utility accounting systems.



Stewardship and corporate governance; social ethics and public interest accounting infrastructures; reporting issues. Accounting institutions and the challenges of corruption in the operating environment. Accounting measurement problems; accounting tools and measurement difficulties, models and surrogates in accounting measurements; experimental works on micro, small and medium scale enterprises accounting and reporting standards; income concepts and measurements; measurement of benefits, evaluation in accounting; cost/benefit analysis.

Foreign currency conversion, translation, and reporting; changing value accounting and measurement difficulties; The nature of accounting as a social science discipline. Forecasts, cash flows, segments reporting, and statements constructions. Non-business entities accounting; reporting non-quantifiable data; entrusted non-financial resources stewardship reporting;. Accounting concepts and language; interpretations and communications theory; information theory; behavioural aspects of accounting. Petroleum and gas accounting; human resource capital. Accounting implication of corporate collapse; accounting for unclaimed dividends; corporate valuations, social responsibility accounting; environmental management accounting. Studies in the future of accounting.


Conventional and modern conceptions of management, Definition and dynamics of management theory; levels and feature of theory in management. Application and relevance of theory in the Nigeria context. Organization design and outline managing group processes, problems of integration and control; managing change and development.  Modern issues in management theory.

ACC 924     Ph.D. SEMINAR

Candidates are expected to undertake research works and present papers under this course.


The focus is on the development and use of accounting information for planning, coordinating and controlling working in varying situations. Topics studied include cost behaviour and cost estimation; responsibility accounting and the contribution approach; cost allocation problems and relevant cost analysis for problem solving; pricing in product–cost combinations; cost-volume-profit relationships; new approaches to inventory control; behavioural problems of budgeting; etc. Other topics include transfer pricing and performance evaluation in divisionalised organizations. Emphasis will be placed on the application of mathematical and statistical techniques in analyzing and presenting accounting information for managerial decisions. Introductory matrix Algebra, linear programming and quadratic programming. Cost system, standards and control; input-output analysis, mathematical analysis, Algol programming. Planning and budgeting; integrated forecasting and operating systems, planning and control of large-scale projects. Employee motivation and accounting. Divisional performance and transfer pricing.


This course presumes a prior knowledge of the principles of financial management. For effective participation in the emerging globalized world, individuals and business firms must be conversant with issues and problems associated with international business finance. This course explores approaches and strategies aimed at resolving or coping with problems and challenges throw up in the conduct of international business and financial transactions. Topics covered include; modalities for conducting international business, national balance of payments and the adjustment process, international financial system and key institutions, foreign exchange rate determination, foreign exchange markets and exchange rate behavior, international currency crises, foreign exchange forecasting, assessing and managing foreign exchange rate risk, hedging techniques, international financing and investment decisions; raising finance in international capital markets and export-import financing. Special attention will be given to issues and problems encountered in emerging markets.


A Thesis normally entails an empirical and analytical investigation of a defined problem in the specific area of research. The research problem is usually defined in the context of

relevance to the contemporary operating environment and the felt- need which the research is designed to address. Candidates are expected to undertake an original work, and to bring to bear, adequate research skills, creativity, depth and breadth of cognate knowledge, experience, and scholarship. The design of the research should demonstrate originality, quality and methodological rigour that is compliant with generally acceptable standards. The outcome must contribute or extend the existing frontiers of knowledge. Thesis would be subject to a VIVA by a panel of Internal and External examiners appointed by the School of Postgraduate Studies and approved by Senate. The panel, (with the external examiner as chairman), shall evaluate the final dissertation or thesis and report to the School of Postgraduate Studies, through the Department, for Senate approval.