Institute of chartered accountants of nigeria new syllabus

The Institute of Chartered Accountants of Nigeria (ICAN) has introduced a new syllabus for its professional examinations, effective from 2020. The new syllabus is designed to reflect the changing needs of the accounting profession and to equip students with the skills and knowledge required to succeed in the profession.

Here are the key changes in the new ICAN syllabus:

New Syllabus Structure

The new syllabus is divided into three main sections:

  1. Foundation Level: This section covers the basic principles of accounting, finance, and business.
  2. Professional Level: This section covers advanced topics in accounting, finance, and business, including financial reporting, auditing, taxation, and management accounting.
  3. Strategic Level: This section covers strategic and advanced topics in accounting, finance, and business, including financial management, corporate finance, and business strategy.

New Syllabus Content

The new syllabus includes new topics and areas of focus, including:

  1. Financial Reporting: The syllabus places more emphasis on financial reporting, including the preparation of financial statements, accounting standards, and financial analysis.
  2. Auditing: The syllabus includes new topics on auditing, including auditing standards, auditing procedures, and auditing techniques.
  3. Taxation: The syllabus includes new topics on taxation, including tax planning, tax compliance, and tax audit.
  4. Management Accounting: The syllabus includes new topics on management accounting, including cost accounting, budgeting, and performance measurement.
  5. Financial Management: The syllabus includes new topics on financial management, including financial planning, financial analysis, and financial decision-making.
  6. Corporate Finance: The syllabus includes new topics on corporate finance, including capital structure, dividend policy, and mergers and acquisitions.
  7. Business Strategy: The syllabus includes new topics on business strategy, including strategic planning, competitive analysis, and business ethics.

Assessment

The new syllabus will be assessed through a combination of written exams and practical assignments. The exams will be held twice a year, in May and November.

Key Changes for Students

For students who are already enrolled in the ICAN program, the new syllabus will require them to adapt to new topics and areas of focus. Students will need to:

  1. Update their knowledge: Students will need to update their knowledge of accounting, finance, and business to reflect the new syllabus.
  2. Develop new skills: Students will need to develop new skills, such as financial analysis, auditing, and taxation.
  3. Focus on practical applications: Students will need to focus on practical applications of accounting and finance concepts, rather than just theoretical knowledge.

Overall, the new ICAN syllabus is designed to equip students with the skills and knowledge required to succeed in the accounting profession, and to reflect the changing needs of the profession.