FG trains Adeyemi College staff on international accounting standards practice

The Federal Government through the office of the Accountant- General of the Federation (AGF) has organized a two-day training programme for selected staff in the Bursary and Audit department in Adeyemi College of Education (ACE), Ondo.

The training exercise tagged: ‘’ In-house training on International Public Sector Accounting Standards (IPSAS) Accrual Basis’’, which would hold between Thursday April 27 and Friday 28, 2017,  was organized by the College Management in conjunction with the office of the AGF.

Speaking at the opening ceremony of the programme, the Provost of the College, Prof. Olukoya Joseph Ogen commended the Federal Government for the initiative, noting that the step would go a long way in improving the capacity of the participants, and other staff in the Bursary and Audit departments in the College.

Prof. Ogen stressed the importance of training and re-training of staff,  stating that the commitment of his administration to capacity building,  was aimed at promoting efficiency, accountability and improved service delivery in the institution.

The College helmsman commended staff of the Bursary and Audit departments for dedication to duties, display of professionalism and contributions to the growth and advancement of the College.

While reiterating his administration’s commitment to intellectual development, workers welfare and career advancement, Prof. Ogen said the decision by the College Management to approve the training programme,  was geared towards adding values to the lives of the workers in the institution,  in order to enable them acquire knowledge,  that would  keep them abreast with global best practices.

Earlier in an address of welcome, the Bursar of the College, Mr. Ganiyu Abdul represented by Mrs. Taiwo Adedoyin, Deputy Bursar, Funds Management, stated that the training was organized in response to directives from the office of the Accountant General of the Federation.

Abdul explained that the International Public Sector Accounting Standards (IPSAS), is a globally accepted Accounting practice, which aimed at boosting the skill of handlers of Accounting operation in all countries of the world.

The College Bursar expressed appreciation to the institution’s Management for providing financial support and approval for the training. He expressed optimism that those selected to participate in the exercise would benefit maximally, while knowledge acquired would be transferred to other staff in both Audit and Bursary departments, who did not participate in the programme.

Abdul, however, appealed to participants to take the training exercise seriously, so as to justify the purpose for which it was organized, assuring that the College Management would not relent in organizing programmes that would add values to the lives of workers in the institution.

The two-day programme willfeature presentation of papers on various topics which include Understanding the Revised Economic segment of the National Chart of Accounts; Snapshot on Double Entry Principle in Public Sector Accounting; Review of the Revised Cashbook and its Analysis and Accounting for Public Sector Revenue and Subsidiary Books.

Others are Accounting for Public Sector Expenditures; Inventory;  Preparation of Opening Statement of Financial Position; Posting into General Ledgers and Extraction of Monthly Trial Balance as well as Preparation of Financial Statement: Notes to the Accounts and Preparation of Financial Statements: Main Reports.

The event  which held at the Bursary Conference Room was attended by Principal Officers of the College including the Acting Librarian, Mr. Akinade Awoyemi; Deputy Director, Internal Audit, Mr. Oladosu Abimbola; Head, Financial Accounting, Mr. Tayo Omotayo as well as representative of the College External Auditors, Mr. Sunday Betiku.

Also present were Messer Umar Adamu Isah and Oloju Francis Afolabi, Resource persons from Consolidated Accounts Department, Office of the Accountant General of the Federation, staff from the College Store department, Information and Public Relations Unit among others.

The climax of the event was the presentation of the soft copies of the training programme to the Provost, Prof. Olukoya Ogen and the Acting Librarian, Mr. Akinade Awoyemi by Mr. Umar Adamu Isah from the office of the AGF in Abuja, the Federal Capital Territory.