A Professor of Business and Accounting Education, Ekiti State University, Ado-Ekiti, EKSU Prof. Nneka Salome Ezeani has proposed a way forward in creating a reasonable balance between business and accounting in managing and promoting business ventures in Nigeria.
The Professor made this known at the 83rd inaugural lecture held at the auditorium of the University.
The lecture was tagged, In Defence of No Accounting, No Business: An X-Ray of A Non-Existing Battle.
Ezeani noted that “business cannot operate effectively unless accounting is involved, hence accounting is the pivot that rotates every business globally in an enterprise.”
She stated that “accounting is the bedrock of any business be it private or public establishments,” adding that businesses need good accounting system and policies for business success.
Ezeani challenged business owners to build trust and standard policies in keeping proper accounting records that will not fail but lead to effective business growth.
The professor stated that the way forward in creating a reasonable balance between business and accounting is the promotion of business education activities, and accounting education activities, promoting business enterprises activities that is initiating business skills that aim at creating wealth for all.
She also noted that the promotion of entrepreneurship education activities that encompass teaching of integrated entrepreneurship studies where students are taught pre-requiste skills and knowledge of how and what it takes to establish, manage and run successfully a business in various discipline.
She further propose the promoting of academic research/teaching practice noting that academic research should be done without any plagiarism of any form.
At the end of lecture, the inaugural lecturer was able to untangled the battle normally experienced by businessmen and businesswomen in venturing into business activities without adequate knowledge and skills of accounting. “It further reinforces the need for strong accounting policies to be maintained in any business venture for success and productivity”.
Aside this, she was able to bring to the knowledge of the audience, the status of accounting as it relates to business in the world of business and “the lecture exposed the necessary ingredients needed of a successful business venture by maintaining appropriate classes of an account and all transactions made in the business”.
While commenting on the lecture, the Vice Chancellor, Ekiti State University, Prof. Edward Olorunsola Olanipekun who commended Prof. Ezeani for an outstanding lecture delivery, urged all present to imbibe the knowledge acquired through the course of the well explained lecture into accounting and businesses in Nigeria.
