An Empirical Analysis Of The Impact Of Private Sector On The Economic Growth And Development Of Nigeria (1980–2010)
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An Empirical Analysis Of The Impact Of
Private Sector On The Economic Growth And Development Of Nigeria (1980–2010)
ABSTRACT
This
research work on A Comparative Study of Expenditure Controls method in
Government and private Hospitals is aimed at studying and analysing the
different methods of expenditure control that is being adopted by these
hospitals, their practical application and their level of effectiveness. It is
aimed at carrying out a comparative analysis of two hospitals. To achieve the
aim of this research, secondary data through textbooks and journals were used
to review some of the related literatures. Equally, questionnaires, interview
and observation, which sought to find out facts needed for analysing, were
used. The questionnaires were analyzed by simple percentages while hypothesis
were tested using chi-square statistics. The findings of the analysis indicate
among others that the method of expenditure control used by both hospitals are
not the same; The daily control method for private hospitals and the vote card
method for Government Hospitals. The different methods of expenditure control
used by the two hospitals are effective, but with slight loopholes associated
with vote card method. I recommend among others that both hospitals should
adhere strictly to authorization procedure for drug purchased and materials
purchases. Both hospitals should exhibit high degree of cash management and
employ competent personnel for proper and efficient expenditure control.
viii
TABLE OF
CONTENTS
Approval
page ii
Certification
page iii
Dedication
iv
Acknowledgement
v
Abstract vii
Chapter One
1.0
Introduction 1
1.1
Background Of The Study 1
1.2
Statement Of the Problem 4
1.3
Objectives Of The Study 6
1.4 Research
Questions 6
1.5
Formulation Of Hypotheses 7
1.6
Significance Of The Study 8
1.7 Scope Of
The Study 9
1.8
Limitations Of The Study 9
1.9
Definitions Of Terms 10
Chapter Two
ix
2.0 Review
Of Related Literature 12
2.1
Introduction 12
2.2 Overview
Of Expenditure Control 12
2.3 The
Expenditure Control Methods 14
2.4 Internal
Auditing Overview 19
2.5
Management Audit 25
2.6 Cost
Benefit Analysis 27
2.7
Quantitative Models For Expenditure Control 28
2.8 Items
Related To the Income Generated In A Hospital 32
2.9 Items
Related To The Expenditure Of A Hospital 36
2.10 The
Expenditure Control Method That Are In Application 37
2.11 Vote
Card Method of Expenditure Control 42
Chapter
Three
Research
design and Methodology
3.0
Introduction 45
3.1 Sources
of Data 46
3.2 Research
Instrument 47
3.3
Reliability and Validity of Research Instrument. 48
x
3.4
Population 49
3.5 Sample
Size/Technique 50
3.6
Administration Of Research Instrument 52
3.7 Method
Of Data Analysis 52
3.8 Decision
Criterion For Validation Of Hypotheses 53
Chapter Four
4.0 Data
Presentation and Analysis 54
4.1 Data
Analysis/Presentation 54
4.2 Testing
Of Hypotheses 67
4.3
Discussion of Findings 75
Chapter Five
5.0 Summary
of findings, Conclusion and Recommendations 78
5.1 Summary
of findings 78
5.2
Conclusion 79
5.3
Recommendation s 79
Bibliography
82
Appendix 1
85
xi
Appendix 2
86
1
CHAPTER ONE
1.0
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Expenditure
control or cost control is part of management control process, in every
organisation.
This process
is very important to any organisation be it profit making organisation or
non-profit making organisation. Thus, lack of this practice in any organisation
will cause misapplication of cash in cash disbursement process and this will
create a very big problem leading the organisation into deficit and at an
extreme case, the organisation might wind up. Many researches have been
conducted in the reason for winding up of companies and organisation in which
lack of expenditure control process had found responsible.
Expenditure
control has been defined as the process by which managers utilize effectively
and efficiently, the scarce resource in the achievement of the organisational
goals. At this juncture, let us look at expenditure and control from separate
perspective.
2
Expenditure
is the total amount spent on the process of trying to achieve a particular
organisational goal. Control means to order, limit, instruct or rule something
or someone’s actions. It is used by either government officials or organisation
managers to make restrictions on wages increases, immigrate credit and so on
(which are all expenditure).
As regards,
this research work, which is the comparative study of expenditure control
methods in government and privately owned Hospitals, A study of the University
of Nigeria Teaching Hospital Enugu (UNTH) and Toronto Hospital and Maternity
Onitsha; this implies a comparative study of non-profit making organisations,
since UNTH is government owned Hospital while Toronto Hospital is privately
owned Hospital as a category of profit making organisation. Non-profit making
organisations are characterized by the following:
a) There is
neither a conscious profit motive nor an expectation of earning net income.
b) No profit
of any excess of revenue over expenditure is distributed to those who
contributed support through taxes and voluntary donations.
3
In profit
making organisations, the reverse of these characteristics is the case in the
sense that their major objective is to maximize profit and excess of revenue
over expenditure are given to the owners of the organisation.
Government
owned hospitals pay more attention to services they render to the public, as
their major objectives is to provide services that fulfil a social needs for
those who do not have the purchasing power to acquire these services
themselves. Irrespective of the fact that privately owned hospitals try to
render good and quality services to the public, they pay more attention to
maximize of profit which their major objective.
Comparative
study of expenditure control in Government and privately owned Hospital which
is major research question in this research work has to with the different ways
and methods by which expenditure is being controlled in each of the hospitals
so that they will not run into deficit or liquidations.
According to
Johnson (1976), the management control concept which imbibes the expenditure
control are the same both in profit oriented and non-profit oriented
organisations, but the implication of these concepts
4
differ in
important respect. We will want to find out if also the expenditure control
methods are the same or differ in the two hospitals under study, owning to the
fact that one is profit oriented and the other is non-profit oriented.
1.2
STATEMENT OF THE PROBLEM
The problems
encountered by the Government and privately owned Hospitals in expenditure
control are as follows: The problem of daily control method and the vote card
method. The problem encountered is to know the effective method to use in the
two hospitals. Here, the problem encountered is to check whether the daily
control method will be efficient and effective in the Government owned
hospitals or whether the vote card method is the best. Another problem
encountered by the hospitals in expenditure control is the problem of internal
control. Internal control is the essential feature of an organisation, be it
profit making or non-profit making, and it is expected to be well managed
effectively and efficiently. Any
5
problem or
limitation of the internal control will pose a problem to the expenditure
control of the organisation.
Therefore,
the above problems encountered by the two hospitals are the problems of
expenditure control methods encountered by the government and privately owned
hospitals by the government and privately owned hospitals that attracted the
attention of the researcher.
The problem
definition in this research work is to investigate and analyse the different
ways and methods by which expenditure is controlled in government owned
hospitals and privately owned hospitals so that they will not run into deficit
and liquidation. As a comparative study, two hospitals has been selected for
the study, they are: University of Nigeria Teaching Hospital Enugu (UNTH) for
government owned Hospitals, and Toronto Hospital and Maternity Onitsha for
privately owned hospitals.
In this
research, we study the different methods of expenditure control being adopted
by these hospitals and their practical application and their level of
effectiveness.
This study
will form a basis for our analysis which will help to answer some research
questions.
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