Aims of this thread:

1.To promote the Accounting Profession by providing current news and happenings in the Accounting profession.
2. To serve as an avenue for mentorship. That is, to serve as a platform where aspiring Accountants can tap from the wealth of experience of the Professionals.
3. To share latest Accounting job updates.

3rd ICAN Annual International Academic Conference.
For more information
www.naijaaccountant..com.ng

Use your experiences to better the society at large, ANAN president charges SFAFP inductees
THE President of the Association of National Accountants of Nigeria (ANAN), Mr. Anthony Chukwuemeka Nzom has admonished the 135 accountants newly inducted as associates of the Society for Forensic Accounting and Fraud Prevention (SFAFP) to be up and doing and use their wealth of experience to better the society at large.

He gave this advice during the induction which was held at the Anti-Corruption Academy of Nigeria (ACAN), Keffi in Nasarawa State.
ANAN president, who noted that the work of an accountant is beyond auditing but also investigating, further added that people from other disciplines have come to join the association, saying that’s why Nigeria remained the hob of African.
According to him, “we don’t have competitor. You may be invited to court to prove your case in court. It is your ability to prove that makes the person a criminal. You will be taught on confidence building. Instead of people going to abroad, we have decided to bring it here to make it affordable and accessible.
“Nigeria remains the hob of Africa, even in our present condition we are still doing well. Our problems are self-inflicted. We did the groundnut pyramid in Kano, cotton in Gusau and textile industry in Kaduna. We believe we can turn it round and this is what we are doing to turn it round.
“People from other countries have come to copy from also due to the fact that we are broad in our approach to issues. The trustees of these societies are ANAN Members that have undone the course elsewhere.
“When ANAN was established, some people thought we are going to fall on the way, but today it is a success story. We have over three thousand students with the least qualification of HND and BSC”.
Nzom urged the inductees to be prepared to read more as the pass mark would be 70 and even 69 would not be acceptable.
He revealed that their lecturers are professionals and their trainings are issue based, saying that practical learning is what makes forensic accountant”, he added.
Nzom stated that only South Africa could equate Nigeria in forensic accounting.
In his speech, the Board Chairman, Professor Benjamin Osisioma, who described the induction as an epoch making event, while inducting them informed they were still associates and would only be members after the completion of their mandatory three months trainings, stating they were the first batch of associates of the SFAFP to be inducted.
He said there were different faces of fraud in the society, “they rob us in all ways. Nigeria has paid a great price contending with fraud fight. The traditional control has failed. Regular auditing has gone down the drain providing the need for forensic accountants. Forensic auditing is the only way out”.
Osisisoma noted that the vision of the society was to pioneer indigenous professional distinction in the training and development of forensic accountants, and the delivery of high quality service to foster integrity and excellence.
“We want to build a professional body that you and I will be proud of. The society has five core values that define WHO we are, and WHAT we do: Integrity, trust, excellence, service, and professionalism. We have no competitor today, we are bent on crafting a unique working ethics that will endure”, he boosted.
He tasked the inductees to be up and doing in their study as they are being brought into the flagship of service and excellence.
Speaking earlier, Prof. Andrew Zamani of the Department of Psychology, Nasarawa State University, Keffi who spoke on the topic, “Thinking Like a Thief: The Anti-Fraud Psychology” stressed that leadership, corruption and stealing have eroded our value system, saying that stealing is an adventure, a thrill and a faulty learning and malformation of character due to poor socialization which leads to an overwhelming sense of deprivation or being cheated. “It is an anti-social behavior and criminal: it violated other people’s rights and happiness” he said.
Also speaking, the Executive Secretary of Society for Forensic Accounting and Fraud Prevention, Dr. Abuchi Ogbuji who spoke on “Training Synopsis, Curricular and Programme” noted that the training was developed to give skill to forensic accountants and fraud managers and that the forensic class number was restricted to 35 candidates maximum per stream to enhance quality training and learning.
He said the country was a fertile ground and big market for the forensics, but yet to be tapped, urging the inductees to stand out in the society.


http://naijaaccountant..com/2017/02/use-your-experiences-to-better-society.html?m=1

How to Become a Chartered Accountant (Part 1)


The benefits of having a professional qualification cannot be overemphasized most especially when you are an Accounting graduate. It is not just enough to have a degree in Accounting but it is very important to be a qualified Accountant because being a qualified Accountant is a portrait of Professionalism in that field.
As a Chartered Accountant you are seen to be an expert in all areas of Accounting because it is believed that you have gone through series of rigorous training and examinations before earning that prestigious ACA title to your name.

The BIG question : How can you become a Chartered Accountant?
In Nigeria, there are two recognized Professional Accounting bodies which are established by Acts of Parliament. These bodies are Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria. It is mandatory by law that any individual or group of individuals having the intention or desire to practice as an Accountant in public practice must be a registered and licensed member of either of the two Professional bodies.

In this article we would be looking at how to become a Chartered Accountant through the Institute of Chartered Accountants of Nigeria pathway and subsequently we would look at the ANAN pathway.

Becoming a Chartered Accountant through the ICAN pathway:
ICAN was established by an Act of Parliament as a registered Accountancy body with power under the Ambit of the law to award professional certificate and license to its members who have met her requirements. The Institute prescribe two major routes towards earning the prestigious ACA title. These routes are:
1. Accounting Technician Scheme(ATS); and
2. Professional Level.
Today we would be discussing about the first route which is the Accounting Technician Scheme Route.

How did the Accounting Technician Scheme started?
The Accounting Technician Scheme was established by the Institute of Chartered Accountants of Nigeria and Institute of Chartered Accountants Ghana because of the deepen need for Accounting Technicians in the financial reporting chain and national development process in their countries. Hence, to facilitate the production of more Chartered Accountant to take up the increasing demand for professional Accountants, ICAN then Introduced the ATS in 1989 to give secondary school certificate holders the opportunity to become Chartered Accountants.

Why Accounting Technician Scheme?
1.Possession of an accounting qualification which is recognized by employers.
2. Induction into membership of ABWA ( Association of Accountancy Body of West Africa) and designated as AATWA.
3. Promotion opportunities for those who are already in employment.
4. Direct entry enrollment for HND or BSc programme in Accountancy in Higher Institutions.
5. Exemption from some of the Professional Examination Papers of member bodies' Institutes and those of other professional bodies.

What Are the Stages in ATS?
The Accounting Technician Scheme has 3 stages and each stage has four examinations in total.These stages and their respective examinations are as follows:

ATS 1: Basic Accounting Processes, Economics, Communication Skills, Business Law.

ATS 2: Principle and Practices of Financial Accounting, Information Technology, Quantitative Analysis, Public Sector Accounting.

ATS 3: Cost Accounting, Management, Principle of Auditing, Preparing Tax Computation and Return.


When is the Examination Period?
The ATS examination is always conducted twice every year that is March Diet and September diet.

What are the Qualification Requirements??
(a) Five (5) credit passes including English Language and Mathematics in the West African School Certificate Examination, General Certificate of Education or Senior Secondary Certificate Examination in not more than two sittings.
(b) Ordinary National Diploma of any Polytechnic recognized by the Council of the Institute.
(c) National Certificate of Education (NCE) from any College of Education.
(d) Any other relevant qualification approved by the Institute.

Are There Any Form of Exemptions?
Yes there are various forms of exemptions depending on your qualification. Here are the various exemptions available and their respective exemption fee for different qualification:

QUALIFICATION LEVEL OF EXEMPTION CURRENT RATE (=N=)


1 OND Accounting (Accredited Institution) Part I & II (All Subjects) 25,680.00
2 NCE Accounting (Accredited Institution) Part I & II (All Subjects) 25,680.00
3 OND Fin. Studies/Banking & Fin. Part I & PPFA in Part II 21,060.00
4 OND Bus. Studies/Bus. Admin. Part I (All Subjects except Law) 10,860.00
5 AAT U.K Parts I, II & III (Except Bus Law [I] Govt. Acctg [II] & PTCR [III]) 36,360.00
6 OND Statistics Q/A. 8,880.00
7 OND Computer Science I.T. 8,880.00
8 OND Insurance Q/A 8,880.00
9 OND Marketing Economics. 8,220.00
10 Diploma in Accounting (Uni. Ben.) Parts I & II (Except Govt. Acctg) 24,120.00
11 Diploma in Public Accounting (Kad. Poly) Parts I & II (All Subjects) 25,680.00
12 Diploma in Public Accounting (Kwara Poly) Parts I & II (All Subjects) 25,680.00
13 Diploma in Accounting (Uni. P/H) Part I & PPFA in Part II 21,060.00
14 OND Accounting (NASFA) Parts I & II (All Subjects) 25,680.00
15 OND (Petroleum Marketing & Bus. Studies) Business Law 8,220.00
16 Diploma in Accounting (Olabisi Onabanjo Uni.) Parts I & II (All Subjects). 25,680
17 OND Accounting (Non Accredited Institution) Part 1 Only 12,180.00
18 OND Accounting&ATS1 Part11 only. 13,500

How Do I Register?
continue reading on
http://naijaaccountant..com.ng/2017/02/how-to-become-chartered-accountant.html

Welcome to Nigerian Accountants Blog spot. In the last edition we discussed about the ATS route towards becoming a Chartered Accountant . Today we would be taking another step further by considering the Professional level route.
The professional level route is a common route for Professional Qualification, HND and Bsc holders .This level is a much more advanced level compared to the ATS route. The professional qualification of the Institute of Chartered Accountants of Nigeria (ICAN) which ultimately leads to the admission of qualified persons as Associate Chartered Accountants (ACA), comprises qualifying examinations of sixteen technical subjects integrating business and professional ethics and work experience requirements.

Who Can Register For the Professional Level?
In order to register as a student with the Institute, an applicant must hold an acceptable qualification. The ICAN Council has accepted the following qualifications for the purpose of entry requirements:

(a) Recognized degree of any University or Higher National Diploma of any Polytechnic.
(b) Any other qualification for the time being approved by the Council.

Any other qualification for the time being approved by the Council.
Approved meanwhile are:
(i) The final examination of Accounting Technicians Scheme, West Africa (ATSWA)
(ii) The final examination of the Institute of Chartered Secretaries and Administrators
(iii) The final examination of the Association of International Accountants
(iv) The final examination of the Chartered Institute of Bankers of Nigeria
(v) The final examination of the Chartered Institute of Stockbrokers
(vi) The final examination of the Chartered Institute of Taxation of Nigeria
(vii) The final examination of the Association of Accounting Technicians, U.K.
(viii) The final examination of the Association of National Accountants of Nigeria
(ix) Executive Management Accountancy (Federal Treasury Training School, Stage III)

What Are the Stages in the Professional Route?
There are three major stages or levels in the professional route. These stages are Foundation, Skill and Professional.

FOUNDATION LEVEL
1. Quantitative Techniques in Business
2. Business and Finance
3. Financial Accounting
4. Management Information
5. Business Law

SKILLS LEVEL
1. Financial Reporting
2. Audit and Assurance
3. Taxation
4. Performance Management
5. Public Sector Accounting and Finance
6. Management, Governance and Ethics

PROFESSIONAL LEVEL
1. Corporate Reporting
2. Advanced Audit and Assurance
3. Strategic Financial Management
4. Advanced Taxation
5. Case Study

Continue on :
http://naijaaccountant..com/2017/02/how-to-become-chartered-accountant_22.html?m=1

NaijaAccountant:
Welcome to Nigerian Accountants Blog spot. In the last edition we discussed about the ATS route towards becoming a Chartered Accountant . Today we would be taking another step further by considering the Professional level route.
The professional level route is a common route for Professional Qualification, HND and Bsc holders .This level is a much more advanced level compared to the ATS route. The professional qualification of the Institute of Chartered Accountants of Nigeria (ICAN) which ultimately leads to the admission of qualified persons as Associate Chartered Accountants (ACA), comprises qualifying examinations of sixteen technical subjects integrating business and professional ethics and work experience requirements.

Who Can Register For the Professional Level?
In order to register as a student with the Institute, an applicant must hold an acceptable qualification. The ICAN Council has accepted the following qualifications for the purpose of entry requirements:

(a) Recognized degree of any University or Higher National Diploma of any Polytechnic.
(b) Any other qualification for the time being approved by the Council.

Any other qualification for the time being approved by the Council.
Approved meanwhile are:
(i) The final examination of Accounting Technicians Scheme, West Africa (ATSWA)
(ii) The final examination of the Institute of Chartered Secretaries and Administrators
(iii) The final examination of the Association of International Accountants
(iv) The final examination of the Chartered Institute of Bankers of Nigeria
(v) The final examination of the Chartered Institute of Stockbrokers
(vi) The final examination of the Chartered Institute of Taxation of Nigeria
(vii) The final examination of the Association of Accounting Technicians, U.K.
(viii) The final examination of the Association of National Accountants of Nigeria
(ix) Executive Management Accountancy (Federal Treasury Training School, Stage III)

What Are the Stages in the Professional Route?
There are three major stages or levels in the professional route. These stages are Foundation, Skill and Professional.

FOUNDATION LEVEL
1. Quantitative Techniques in Business
2. Business and Finance
3. Financial Accounting
4. Management Information
5. Business Law

SKILLS LEVEL
1. Financial Reporting
2. Audit and Assurance
3. Taxation
4. Performance Management
5. Public Sector Accounting and Finance
6. Management, Governance and Ethics

PROFESSIONAL LEVEL
1. Corporate Reporting
2. Advanced Audit and Assurance
3. Strategic Financial Management
4. Advanced Taxation
5. Case Study

Continue on :
http://naijaaccountant..com/2017/02/how-to-become-chartered-accountant_22.html?m=1

hi, i am an engineering graduate but want to be chartered. I have studied financial accounting to a very great extent and will want to register as soon as possible. could you guide me on how engineering graduates could apply? I could not find any provision for science students. Thanks

DanXplore:


hi, i am an engineering graduate but want to be chartered. I have studied financial accounting to a very great extent and will want to register as soon as possible. could you guide me on how engineering graduates could apply? I could not find any provision for science students. Thanks

Welcome DanXplore.
The Institute of Chartered Accountants of Nigeria has open arms for graduates from different fields. Infact the current ICAN 1st Deputy Vice President, Alhaji Razak Adeleke Jaiyeola is a Chemistry graduate. If you don't mind you can PM me on Naijaaccountant@yahoo.com
So we can discuss extensively.

Once again welcome on Board.
DanXplore FCA

what is the BIG diffrence between ACCA and ICAN. any advantage ？.

many banks are now asking for skills in Advance excell . what is your stand on it.

vaxx:
what is the BIG diffrence between ACCA and ICAN. any advantage ？.

many banks are now asking for skills in Advance excell . what is your stand on it.

ACCA and ICAN but have there own unique benefits.
To assess these benefits you need to provide answers to these two salient questions:
1. Do I want to practice here in Nigeria? (i.e Intention to go into private practice as an auditor)
2. Do I have intention of relocating out of Nigeria?

Benefits of ICAN:
1. It gives you an in-depth understanding of the Nigerian Economy most especially Nigerian Tax Law and Public Sector Accounting.
But ACCA Taxation is more tilted towards U.K tax system.
2. With ICAN you can practice as an Auditor, Consultant etc. Only ICAN and ANAN members are permitted by law to certify companies financials.
3. ICAN is much more cheaper compare to ACCA.

Benefits of ACCA
1. Globally recognized.
2.Four Diets Every year compare to ICAN'S two Diets annually.
3. Availability of alot of resource materials. As an ICAN student it is always advisable to go through ACCA packs when preparing for your exams most especially MGE, Case Study.
**Note** Concerning the global recognition, ICAN members can comfortably practice abroad with little supervision because IFRS has eliminated the difficulty hitherto inherent in the transferring of Accountants across the world by their parent companies or subsidiaries.

NaijaAccountant:

ACCA and ICAN but have there own unique benefits.
To assess these benefits you need to provide answers to these two salient questions:
1. Do I want to practice here in Nigeria? (i.e Intention to go into private practice as an auditor)
2. Do I have intention of relocating out of Nigeria?

Benefits of ICAN:
1. It gives you an in-depth understanding of the Nigerian Economy most especially Nigerian Tax Law and Public Sector Accounting.
But ACCA Taxation is more tilted towards U.K tax system.
2. With ICAN you can practice as an Auditor, Consultant etc. Only ICAN and ANAN members are permitted by law to certify companies financials.
3. ICAN is much more cheaper compare to ACCA.

Benefits of ACCA
1. Globally recognized.
2.Four Diets Every year compare to ICAN'S two Diets annually.
3. Availability of alot of resource materials. As an ICAN student it is always advisable to go through ACCA packs when preparing for your exams most especially MGE, Case Study.
**Note** Concerning the global recognition, ICAN members can comfortably practice abroad with little supervision because IFRS has eliminated the difficulty hitherto inherent in the transferring of Accountants across the world by their parent companies or subsidiaries.

good . but the second question is yet to be answer.

am not in nigeria though i have the mind of coming back to nigeria to work. i will like to take ican. is it possible.

vaxx:
good . but the second question is yet to be answer.

am not in nigeria though i have the mind of coming back to nigeria to work. i will like to take ican. is it possible.

Yes it is possible.
Concerning the Advance excel. It depends on the position you are applying for. For example if you are in the Asset or risk management dept , then your advance skills in excel will be very handy in carrying out your Risk and Credit analysis esp performing loans, NPL.
Also, as an Accountant having advanced skills in excel is vital because we need those skills when preparing our reports and forecast.
Hence, we should not just relax on only our sage , tally etc expertise.

NaijaAccountant:

Yes it is possible.
Concerning the Advance excel. It depends on the position you are applying for. For example if you are in the Asset or risk management dept , then your advance skills in excel will be very handy in carrying out your Risk and Credit analysis esp performing loans, NPL.
Also, as an Accountant having advanced skills in excel is vital because we need those skills when preparing our reports and forecast.
Hence, we should not just relax on only our sage , tally etc expertise.

thanks alot: am in germany: i will like to do it here and most importantly in english: any guideline？

vaxx:
thanks alot: am in germany: i will like to do it here and most importantly in english: any guideline？

ICAN does not have an exam centre in Germany. The only foreign centre they have is in London. And I don't think it's cost effective flying from Germany to London for a 2days exam!

But you can be studying ahead and anytime you come to Nigeria you can sit for the exam either in May or Nov.

NaijaAccountant:

ICAN does not have an exam centre in Germany. The only foreign centre they have is in London. And I don't think it's cost effective flying from Germany to London for a 2days exam!

But you can be studying ahead and anytime you come to Nigeria you can sit for the exam either in May or Nov.

am grateful

You are welcome.
I wish you success in all your pursuits.

Good afternoon house, please i have applied to register as a professional students with my AAT certificate,
For the past two weeks, i am yet to get my registration number

Please i need somebody to advice me on what to do.

Alayemi:

Good afternoon house, please i have applied to register as a professional students with my AAT certificate,
For the past two weeks, i am yet to get my registration number

Please i need somebody to advice me on what to do.

Keep on checking. Your registration number should be available before weekend.

Thank you guys.

Dear ICAN Prefessionals,

Please I wish to know the examination cost for the May and November diet for registered professional student if their will be any .

Thank you.

Shizolaalasoa:
Dear ICAN Prefessionals,

Please I wish to know the examination cost for the May and November diet for registered professional student if their will be any .

Thank you.

Please kindly specify the stage you intend writing so as to get a precise answer. E.g Foundation, skills or professional. Thank you.

Please kindly help me here for better job am a Chartered accountant also have ATS 2010 with B.Sc in accounting.Am presently serving as internal auditor with 4years experience in a manufacturing company with very small pay which my company has failed to increase since i got qualified and inducted last year 2016.Email osenikazeemaca@gmail.com 08056753914. Thank you in anticipation.

NaijaAccountant:

Please kindly specify the stage you intend writing so as to get a precise answer. E.g Foundation, skills or professional. Thank you.

please where can i download free ican study pack? thanks and remain blessed.

For more details about benefits of becoming a chartered accountant as well as other details,
Follow the link below:

https://www.nairaland.com/3814045/jamb-wrote-2017-jamb-tired

greenermodels:
please where can i download free ican study pack? thanks and remain blessed.

You can download it from ICAN site using your surname and registration number to login. If you don't have a registration number yet just drop your email and the level you are studying for I would forward the packs to you.

NaijaAccountant:

You can download it from ICAN site using your surname and registration number to login. If you don't have a registration number yet just drop your email and the level you are studying for I would forward the packs to you.

one person is a waec holder,another one have an hnd in secretarial studies while the third holds a bachelors degree in economics and geography (combined honours) what level should they start their studies from? my email address is greenermodels@gmail.com.thanks in anticipation of your response.

NaijaAccountant:

You can download it from ICAN site using your surname and registration number to login. If you don't have a registration number yet just drop your email and the level you are studying for I would forward the packs to you.

chairman, good morning. please I'm still expecting your reply. please it's kinda urgent to me,atleast tell me which level that they would start from. thanks.

greenermodels:
one person is a waec holder,another one have an hnd in secretarial studies while the third holds a bachelors degree in economics and geography (combined honours) what level should they start their studies from? my email address is greenermodels@gmail.com.thanks in anticipation of your response.

I am very sorry for the late response.
1. For the person with waec result, he/she should register for ICAN ATS exam. So far, he/she has minimum of "Credit" in both Maths and English language in not more than two sitting. The ICAN/ATS has three stages namely: ATS 1; ATS 2 and ATS 3. The examination period is always September and March.

2.For both the HND and B.sc holder, they should register for ICAN Professional exam. Both of them would start from "Foundation level" because they don't have a degree in Accounting. Note, the professional exam has 3 stages namely: Foundation; Skills and Professional.
Examination period is November and May yearly.

NaijaAccountant:

I am very sorry for the late response.
1. For the person with waec result, he/she should register for ICAN ATS exam. So far, he/she has minimum of "Credit" in both Maths and English language in not more than two sitting. The ICAN/ATS has three stages namely: ATS 1; ATS 2 and ATS 3. The examination period is always September and March.

2.For both the HND and B.sc holder, they should register for ICAN Professional exam. Both of them would start from "Foundation level" because they don't have a degree in Accounting. Note, the professional exam has 3 stages namely: Foundation; Skills and Professional.
Examination period is November and May yearly.

please can you send the study materials for the foundation level to greenermodels@gmail.com.i really need all possible materials including pass questions and answers so that she can guage herself before deciding whether to proceed. remain blessed as you give out this highly valued help to me.

greenermodels:
please can you send the study materials for the foundation level to greenermodels@gmail.com.i really need all possible materials including pass questions and answers so that she can guage herself before deciding whether to proceed. remain blessed as you give out this highly valued help to me.

Please check your email I just forwarded the study packs to you

NaijaAccountant:

Please check your email I just forwarded the study packs to you

God bless you,emails received.

NaijaAccountant:

You can download it from ICAN site using your surname and registration number to login. If you don't have a registration number yet just drop your email and the level you are studying for I would forward the packs to you.

Kudos for doing a good job here kindly forward the study packs of SKILLS LEVEL to me you can exempt B2 & B3 i.e Audit & Assurance and Taxation my email is teephad@gmail.com .Thanking you in anticipation.

Pls I need ACCA study packs for the following ICAN skills level exams:
1. FR
2. PSAF
3. PM
4. MGE.

My email is topjam007@yahoo.com

Thank you Sir