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Covenant University Canaanland Ota

2025/2026 Alpha Semester:- Course Compact

College: College of Management And Social Sciences

Department: Accounting
Course Code/Title: ACC112/ Introduction to Financial Accounting I :- 3Unit(s)

Lecturers

1. ABUA CHRISTIANA UYILOWHOMA DR

2. ALAWODE OLUFEMI PETER DR
3. AWALA ORIGHOMISAN ABRAHAM MR
4. ERIABIE SYLVESTER OSARUMWENSE DR
5. NWOBODO HELEN OHIOREN DR
6. OGABA MOSES MR
7. OGABI MAUTIN ARINOLA MISS
8. OKOUGBO PEACE ONUWABHAGBE DR
9. OLUSEYI-SOWUNMI OYEDAYO SHARON DR

Time Table

Day: Time: Venue:

This course introduces students to the fundamental principles and practices of accounting,
focusing on accurate recording, classification, and reporting of financial transactions. It provides
a practical foundation in bookkeeping procedures, double-entry principles, cash control systems,
and computerized accounting applications. Through guided exercises, students develop
Overview:
competence in preparing and balancing ledgers, extracting trial balances, reconciling bank
statements, and identifying errors in accounting records. Emphasis is placed on accuracy, ethical
practice, and understanding how basic financial information supports managerial and business
decision-making.
Students are required to maintain a minimum of 75% class attendance to qualify for final
examination eligibility. Active participation in lectures, discussions, and practical sessions is
compulsory, as engagement enhances understanding of accounting concepts. All assignments,
Rules:
class exercises, and group projects must be submitted clearly, neatly, and on schedule, following
prescribed formats. Late submissions or copied work attract penalties. Professional conduct,
punctuality, and respect for collaborative learning are expected throughout the course.
The course aligns with the learning outcomes of the Bachelor of Accounting and Financial
programmes by building foundational competencies in bookkeeping, double entry, and financial
Alignment with
reporting. It supports professional accounting qualifications such as ICAN, ACCA, and CIMA, by
Covenant
covering early-stage financial accounting standards and internal control principles. The content
University Vision /
also reinforces core employability skills—numeracy, analytical reasoning, attention to detail, and
Goals:
the ethical use of financial information—consistent with the expectations of global accounting
and finance practices.
tudents completing this course will gain practical, industry-ready skills including the preparation
and analysis of financial records, effective use of Excel and accounting software, application of
Comtemporary
internal control procedures, and understanding of bank reconciliation and cash management
Issues/Industry
systems. They will also develop accuracy, teamwork, time management, and data interpretation
Relevant Skills:
skills relevant to roles such as accounting assistants, finance officers, audit trainees, and data
analysts within business and public-sector organizations

Course Objectives Learning Outcomes

At the end of the course, students should be able to:

Recommended Reading Texts

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No Record Found
ModuleWeek Topic Outlines Outcomes Delivery Method Activity Lecturers
OLUSEYI-
SOWUNMI
OYEDAYO
Students
SHARON DR
should be
OKOUGBO
able to explain
Class :- PEACE
the meaning,
Students take ONUWABHAGBE
nature, and
Definition, part in guided DR
scope of
nature, and discussions ERIABIE
accounting.
scope of on “Why every SYLVESTER
Identify and
accounting business OSARUMWENSE
describe the
Historical needs DR
major Interactive
development accounting,” OGABA MOSES
Introduction branches of lectures with
of accounting identify MR
to Accounting accounting PowerPoint
1 1 Branches of accounting NWOBODO
and Distinguish slides
accounting functions from HELEN
Bookkeeping between classroom
Accounting case OHIOREN DR
accounting discussions
data vs. examples :- 0 ALAWODE
data and
information Discussion :- OLUFEMI PETER
information
Uses of complete a DR
Discuss the
accounting short quiz on OGABI MAUTIN
importance
information the branches ARINOLA MISS
and uses of
of accounting. AWALA
accounting
:- 0 ORIGHOMISAN
information to
ABRAHAM MR
various
ABUA
stakeholders
CHRISTIANA
UYILOWHOMA
DR
OLUSEYI-
SOWUNMI
OYEDAYO
SHARON DR
Class :-
OKOUGBO
Compare two
PEACE
sets of
Definition of ONUWABHAGBE
accounting
bookkeeping Differentiate DR
records and
and between ERIABIE
Lecture with identify key
accounting bookkeeping SYLVESTER
real-world differences. :-
Differences and OSARUMWENSE
illustrations. 0
and accounting DR
Short group Class :- Write a
similarities Explain the OGABA MOSES
discussions short
Bookkeeping between objectives of MR
comparing reflection on
1 2 and bookkeeping financial NWOBODO
bookkeeping how
Accounting and accounting HELEN
and accounting bookkeeping
accounting Identify the OHIOREN DR
records. leads to
Objectives of users of ALAWODE
Q&A session for accounting :- 0
financial accounting OLUFEMI PETER
concept Discussion :-
accounting information DR
clarification Group
Users of and their OGABI MAUTIN
presentation
accounting needs ARINOLA MISS
on users of
information AWALA
accounting
ORIGHOMISAN
information :-
ABRAHAM MR
0
ABUA
CHRISTIANA
UYILOWHOMA
DR

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OLUSEYI-
SOWUNMI
OYEDAYO
SHARON DR
OKOUGBO
Source PEACE
documents Class :- ONUWABHAGBE
(invoices, Identify Examine real- DR
receipts, common life invoices, ERIABIE
Demonstration
debit/credit source receipts, and SYLVESTER
with actual
notes, etc.) documents credit notes. :- OSARUMWENSE
source
Sales day used in 0 DR
documents.
Recording book, business Class :- Record OGABA MOSES
Lecture with
Business purchases day transactions sample MR
illustrations of
2 3 Transactions book Record transactions in NWOBODO
daybooks
and Cash Returns transactions sales and HELEN
Powerpoint
Control inward and in books of purchase day OHIOREN DR
slides detailing
outward original entry books. :- 0 ALAWODE
Step-by-step
books Explain the Discussion :- OLUFEMI PETER
examples using
Journal proper role of Short practice DR
board
and its uses discounts and exercise on OGABI MAUTIN
Types of journal proper. trade and cash ARINOLA MISS
discounts and discounts. :- 0 AWALA
their purposes ORIGHOMISAN
ABRAHAM MR
ABUA
CHRISTIANA
UYILOWHOMA
DR
OLUSEYI-
Prepare and
SOWUNMI
balance Class :-
OYEDAYO
different Prepare a
Powerpoint SHARON DR
forms of three-column
Slides OKOUGBO
cashbooks cashbook
interactive PEACE
accurately from a given
lectures with ONUWABHAGBE
Single-column, Explain the list of
worked DR
double- concept and transactions. :-
examples ERIABIE
column, and operation of 0
Hands-on class SYLVESTER
three-column the imprest Class :-
exercises using OSARUMWENSE
cashbooks system in Maintain a
sample DR
Petty cash petty-cash petty-cash
business OGABA MOSES
book and management. book using the
Cashbook transactions. MR
imprest Identify and imprest
2 4 and Cash Group NWOBODO
system apply sound system for one
Control I discussions on HELEN
System of cash-handling accounting
internal control OHIOREN DR
cash handling and cash- period. :- 0
and fraud- ALAWODE
and security security Discussion :-
prevention OLUFEMI PETER
Internal procedures. Case study:
strategies. DR
control Evaluate identify
Demonstration OGABI MAUTIN
measures over internal weaknesses in
of petty-cash ARINOLA MISS
cash control a company’s
operations and AWALA
measures cash-handling
imprest ORIGHOMISAN
designed to process and
replenishment ABRAHAM MR
protect an suggest
cycles. ABUA
organization’s improvements.
CHRISTIANA
cash :- 0
UYILOWHOMA
resources
DR

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OLUSEYI-
SOWUNMI
OYEDAYO
SHARON DR
OKOUGBO
Class :-
PEACE
Prepare three-
ONUWABHAGBE
Single-column, column and
Prepare DR
double- petty cash
single, double, ERIABIE
column, and books from
and triple Demonstration SYLVESTER
three-column sample data :-
column with actual OSARUMWENSE
cashbooks 0
cashbooks source DR
Petty cash Discussion :-
Operate a documents. OGABA MOSES
book and Discuss
Cashbook petty cash Lecture with MR
imprest control
2 5 and Cash book using illustrations of NWOBODO
system measures
Control II the imprest cashbooks HELEN
System of used in
system. Powerpoint OHIOREN DR
cash handling preventing
Describe Slides detailing ALAWODE
and security cash theft. :- 0
systems for Step-by-step OLUFEMI PETER
Internal Class :- Small
cash handling examples DR
control group task tp
and internal OGABI MAUTIN
measures over identify
control ARINOLA MISS
cash weaknesses in
AWALA
a sample cash
ORIGHOMISAN
system :- 0
ABRAHAM MR
ABUA
CHRISTIANA
UYILOWHOMA
DR

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Explore the
nature,
structure, and
Explain the
content of the
purpose and
ledger as the OLUSEYI-
structure of
principal book SOWUNMI
ledger
of accounts. OYEDAYO
accounts. Interactive
Identify and SHARON DR
Differentiate lectures
classify the OKOUGBO
between real, explaining
types of PEACE
nominal, and double-entry
accounts — ONUWABHAGBE
personal principles with
real, nominal, DR
accounts with board Class :- Class
and personal. ERIABIE
practical illustrations. exercise:
Understand SYLVESTER
examples. Step-by-step record and
and apply the OSARUMWENSE
Apply the demonstrations post
rules of debit DR
rules of the of ledger transactions
and credit OGABA MOSES
double-entry postings using and prepare
Double Entry under the MR
principle practical balances. :- 0
3 6 and Trial double-entry NWOBODO
correctly in examples. Class :- Group
Balance I system. HELEN
recording Group work: identify
Explain and OHIOREN DR
transactions. discussions and errors in
derive the ALAWODE
Demonstrate peer-learning sample ledger
accounting OLUFEMI PETER
how the exercises on postings and
equation DR
accounting classifying correct them.
(Assets = OGABI MAUTIN
equation accounts. :- 0
Liabilities + ARINOLA MISS
underpins all Guided practice
Equity) as the AWALA
financial sessions on
foundation of ORIGHOMISAN
transactions. constructing
accounting ABRAHAM MR
Record and and balancing
records. ABUA
post entries ledger accounts
Practice CHRISTIANA
accurately to
recording, UYILOWHOMA
maintain a
posting, and DR
balanced
balancing
ledger.
transactions
into ledger
accounts.

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Explore the
nature,
structure, and
Explain the
content of the
purpose and
ledger as the OLUSEYI-
structure of
principal book SOWUNMI
ledger
of accounts. OYEDAYO
accounts. Interactive
Identify and SHARON DR
Differentiate lectures
classify the Class :- Class OKOUGBO
between real, explaining
types of exercise: PEACE
nominal, and double-entry
accounts — record and ONUWABHAGBE
personal principles with
real, nominal, post DR
accounts with board
and personal. transactions ERIABIE
practical illustrations.
Understand and prepare SYLVESTER
examples. Step-by-step
and apply the balances. :- 0 OSARUMWENSE
Apply the demonstrations
rules of debit Class :- Group DR
rules of the of ledger
and credit work: identify OGABA MOSES
double-entry postings using
Double Entry under the errors in MR
principle practical
3 7 and Trial double-entry sample ledger NWOBODO
correctly in examples.
Balance II system. postings and HELEN
recording Group
Explain and correct them. OHIOREN DR
transactions. discussions and
derive the :- 0 ALAWODE
Demonstrate peer-learning
accounting Quiz :- Short OLUFEMI PETER
how the exercises on
equation quiz on DR
accounting classifying
(Assets = classification OGABI MAUTIN
equation accounts.
Liabilities + of accounts ARINOLA MISS
underpins all Guided practice
Equity) as the and the AWALA
financial sessions on
foundation of accounting ORIGHOMISAN
transactions. constructing
accounting equation. :- 0 ABRAHAM MR
Record and and balancing
records. ABUA
post entries ledger accounts
Practice CHRISTIANA
accurately to
recording, UYILOWHOMA
maintain a
posting, and DR
balanced
balancing
ledger.
transactions
into ledger
accounts.

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Explain the
process of
balancing
ledger OLUSEYI-
accounts and SOWUNMI
determining Balance OYEDAYO
Class :-
debit or credit ledger SHARON DR
Individual task:
balances. accounts OKOUGBO
balance a full
Demonstrate correctly and PEACE
Lecture set of ledger
how to extract carry down ONUWABHAGBE
explanations accounts and
a trial balance balances. DR
with whiteboard prepare a
from the Prepare a trial ERIABIE
and corresponding
ledger using balance from SYLVESTER
spreadsheet trial balance :-
closing ledger OSARUMWENSE
demonstrations. 0
balances. account DR
Practical Class :- Group
Identify and balances OGABA MOSES
exercises on activity: review
Balancing discuss the Identify the MR
balancing a trial balance
3 8 Accounts and uses of a trial significance NWOBODO
ledger accounts and identify
Trial Balance I balance in of a trial HELEN
and preparing errors that do
checking balance in OHIOREN DR
trial balances. or do not
arithmetic detecting ALAWODE
Interactive affect it. :- 0
accuracy. accounting OLUFEMI PETER
group sessions Class :- In-
Examine the errors. DR
on identifying class problem-
limitations of Explain the OGABI MAUTIN
undetected solving
a trial balance, limitations of ARINOLA MISS
accounting exercise using
including the trial AWALA
errors. real-world
errors not balance as a ORIGHOMISAN
style
disclosed by tool for ABRAHAM MR
transaction
it. ensuring ABUA
data. :- 0
Apply trial accuracy CHRISTIANA
balance UYILOWHOMA
preparation to DR
practical
business
transactions.

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Explain the
process of
balancing
ledger OLUSEYI-
accounts and SOWUNMI
determining Balance OYEDAYO
Class :-
debit or credit ledger SHARON DR
Individual task:
balances. accounts OKOUGBO
balance a full
Demonstrate correctly and PEACE
Lecture set of ledger
how to extract carry down ONUWABHAGBE
explanations accounts and
a trial balance balances. DR
with whiteboard prepare a
from the Prepare a trial ERIABIE
and corresponding
ledger using balance from SYLVESTER
spreadsheet trial balance :-
closing ledger OSARUMWENSE
demonstrations. 0
balances. account DR
Practical Class :- Group
Identify and balances OGABA MOSES
Balancing exercises on activity: review
discuss the Identify the MR
Accounts and balancing a trial balance
3 9 uses of a trial significance NWOBODO
Trial Balance ledger accounts and identify
balance in of a trial HELEN
II and preparing errors that do
checking balance in OHIOREN DR
trial balances. or do not
arithmetic detecting ALAWODE
Interactive affect it. :- 0
accuracy. accounting OLUFEMI PETER
group sessions Class :- In-
Examine the errors. DR
on identifying class problem-
limitations of Explain the OGABI MAUTIN
undetected solving
a trial balance, limitations of ARINOLA MISS
accounting exercise using
including the trial AWALA
errors. real-world
errors not balance as a ORIGHOMISAN
style
disclosed by tool for ABRAHAM MR
transaction
it. ensuring ABUA
data. :- 0
Apply trial accuracy CHRISTIANA
balance UYILOWHOMA
preparation to DR
practical
business
transactions.

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OLUSEYI-
SOWUNMI
Identify errors
OYEDAYO
disclosed and Distinguish
SHARON DR
not disclosed between
OKOUGBO
by the trial errors
Interactive PEACE
balance. revealed and Class :- Class
lecture with ONUWABHAGBE
Explain and unrevealed by exercise:
worked problem DR
demonstrate the trial identify and
examples. ERIABIE
techniques for balance. correct given
Step-by-step SYLVESTER
locating and Apply accounting
board and OSARUMWENSE
correcting methods for errors. :- 0
spreadsheet DR
accounting detecting and Class :-
demonstrations. OGABA MOSES
Accounting errors. correcting Prepare
Group MR
Errors and Understand errors. adjusting
4 10 discussion and NWOBODO
Suspense the role and Explain the entries and
class correction HELEN
Account operation of function of a suspense
of sample OHIOREN DR
the suspense suspense account
accounting ALAWODE
account in account in postings. :- 0
errors. OLUFEMI PETER
balancing the correcting Quiz :- Short
uided practical DR
trial balance accounting quiz on
exercises using OGABI MAUTIN
temporarily. discrepancies. classification
suspense ARINOLA MISS
Apply error Post adjusting of accounting
account AWALA
correction journal entries errors. :- 0
illustrations ORIGHOMISAN
principles to to eliminate
ABRAHAM MR
practical accounting
ABUA
accounting errors
CHRISTIANA
examples.
UYILOWHOMA
DR
OLUSEYI-
Identify types SOWUNMI
of bank OYEDAYO
accounts and Explain key SHARON DR
explain banking terms OKOUGBO
Lectures with Class :-
common and types of PEACE
illustrated Prepare a BRS
banking accounts. ONUWABHAGBE
examples using from given
terminologies. Identify DR
sample cashbook and
Discuss reasons for ERIABIE
cashbooks and bank
causes of discrepancies SYLVESTER
statements statement
differences between OSARUMWENSE
Group practice data. :- 0
between the cashbook and DR
sessions on Class :-
cashbook and bank OGABA MOSES
preparing Identify and
Bank bank statement. MR
reconciliation explain
4 11 Reconciliation statement. Prepare an NWOBODO
statements. sources of
Statement I Demonstrate accurate bank HELEN
Interactive reconciliation
steps in reconciliation OHIOREN DR
discussions on differences. :-
preparing a statement. ALAWODE
real-life banking 0
bank Appreciate OLUFEMI PETER
issues. Discussion :-
reconciliation the DR
Demonstration Group task:
statement importance of OGABI MAUTIN
using Excel or simulate a
(BRS). BRS in ARINOLA MISS
accounting company’s
Highlight the maintaining AWALA
software reconciliation
importance of reliable ORIGHOMISAN
templates. process. :- 0
reconciliation financial ABRAHAM MR
for financial records. ABUA
control and CHRISTIANA
accuracy. UYILOWHOMA
DR

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OLUSEYI-
Identify types Identify types SOWUNMI
of bank of bank OYEDAYO
accounts and accounts and SHARON DR
explain explain OKOUGBO
Lectures with Class :-
common common PEACE
illustrated Prepare a BRS
banking banking ONUWABHAGBE
examples using from given
terminologies. terminologies. DR
sample cashbook and
Discuss Discuss ERIABIE
cashbooks and bank
causes of causes of SYLVESTER
statements statement
differences differences OSARUMWENSE
Group practice data. :- 0
between the between the DR
sessions on Class :-
cashbook and cashbook and OGABA MOSES
preparing Identify and
Bank bank bank MR
reconciliation explain
4 12 Reconciliation statement. statement. NWOBODO
statements. sources of
Statement II Demonstrate Demonstrate HELEN
Interactive reconciliation
steps in steps in OHIOREN DR
discussions on differences. :-
preparing a preparing a ALAWODE
real-life banking 0
bank bank OLUFEMI PETER
issues. Discussion :-
reconciliation reconciliation DR
Demonstration Group task:
statement statement OGABI MAUTIN
using Excel or simulate a
(BRS). (BRS). ARINOLA MISS
accounting company’s
Highlight the Highlight the AWALA
software reconciliation
importance of importance of ORIGHOMISAN
templates. process. :- 0
reconciliation reconciliation ABRAHAM MR
for financial for financial ABUA
control and control and CHRISTIANA
accuracy. accuracy. UYILOWHOMA
DR

Explain
classification
Classify
of receipts OLUSEYI-
receipts and
and SOWUNMI
expenditures
expenditures OYEDAYO
correctly as
into capital SHARON DR
capital or Class :-
and revenue Interactive OKOUGBO
revenue. Classify given
categories. lecture and PEACE
Differentiate transactions
Compare software ONUWABHAGBE
between as capital or
manual vs. demonstration DR
manual and revenue :- 0
electronic (Excel or ERIABIE
computerized Class :-
accounting accounting SYLVESTER
accounting Practice
systems. package) OSARUMWENSE
systems. entering data
Demonstrate Group DR
Use in a
the use of discussion on OGABA MOSES
spreadsheet spreadsheet
Computerized computer advantages and MR
or accounting template. :- 0
5 13 Accounting application risks of digital NWOBODO
software for Discussion :-
Systems packages accounting. HELEN
basic data Group activity:
(spreadsheets, Hands-on lab OHIOREN DR
recording. evaluate
accounting session with ALAWODE
Identify controls in a
software). computer-based OLUFEMI PETER
internal computerized
Discuss transactions. DR
control accounting
advantages, Course wrap-up OGABI MAUTIN
measures system. :- 0
limitations, and Q&A on ARINOLA MISS
necessary for Discussion :-
and internal integrated AWALA
electronic End-of-module
controls in accounting ORIGHOMISAN
systems. review
computerized topics ABRAHAM MR
Integrate key exercise. :- 0
systems ABUA
accounting
Integrate all CHRISTIANA
concepts into
key concepts UYILOWHOMA
practical
learned DR
applications.
throughout the
course.

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OLUSEYI-
SOWUNMI
OYEDAYO
SHARON DR
OKOUGBO
PEACE
ONUWABHAGBE
DR
ERIABIE
SYLVESTER
OSARUMWENSE
General DR
course review OGABA MOSES
Discussion :-
and Lecturer-led MR
Lecturer-led
5 14 Revision discussion of feedback and NWOBODO
feedback and
key topics open Q&A. HELEN
open Q&A. :- 0
across all OHIOREN DR
modules. ALAWODE
OLUFEMI PETER
DR
OGABI MAUTIN
ARINOLA MISS
AWALA
ORIGHOMISAN
ABRAHAM MR
ABUA
CHRISTIANA
UYILOWHOMA
DR

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