ATTENTION:
BEFORE YOU READ THE CHAPTER ONE/ABSTRACT OF THE PROJECT TOPIC
BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL
PROJECT COSTS N5,000 ONLY.
THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT
IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420
IMPROVEMENT OF ACCOUNTING SYSTEM IN
GOVERNMENT OWN COMPANY.
ABSTRACT
The purpose of the is to see how the
accounting system of government owned companies meets the statutory requirement
that such books of accounts must be kept as will give a true and fair view of
state of affairs of a business, and to explain its transaction.
Secondly, it is to see how far the
system aids improving the efficiency of the management of the company.
The various books of account were
examined and the manner of recording transaction right from their points of
origination was studied.
1. Direct observation of
accounting staff at work.
2. Indirect interview with
various cadres’ officials in accounting department.
Findings
generally showed that the system was adequate for a company of its size for the
purpose of maintaining proper books for managerial information and control is
very under developed in the company.
The effect
of this cannot be accurately quantified.
Nevertheless, it cannot fail to be significant.
It is
recommended that there should be an urgent investigations into the causes of
the increase in the costs of sales and services. Effort should made to control the increase
matched by appropriate increase in the revenue from sales and services.
The
effective practice of this will involve instatement of Budgetary control system
which will enable actual performance to be compared with the budgets periodically
and deviations from the budgets analyzed as to causes and effects.
TABLE OF
CONTENTS
Title page
Approval
page
Dedication
Acknowledgement
Abstract
Table of
contents
CHAPTER ONE
1.0 Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Significance of the study
1.5 Scope and limitation of the study
CHAPTER TWO
2.0 Review of related literature
2.1 Background of accounting in government
owned companies
2.2 Meaning of accounting government owned
companies
2.3 Subsidiary books & Nominal accounts
2.4 Sales
2.5 Final account
2.6 Research design
2.7 Source of data
2.8 Method of data collection
CHAPTER
THREE
3.1 Summary of findings
3.2 Conclusion
Bibliography
CHAPTER ONE
INTRODUCATION
1.1 BACKGROUND OF THE STUDY
Following
reports of irregularities and malpractices in the government owned companies,
then the state governor, chief, Jim Nwobodo appointed a panel of inquire to
investigate the management finances and organization of the company. This was in September 1980.
The panel discovered in the course of
its investigations that the management like store ledger payment vouchers, cash
books and accounting ledgers. After a
through investigations of the financial operation the panel found:-
a. That the company board started
operation with out the necessary preparation that would enable it function well
both as a service and profit making concern.
b. That at the early stage of the
company operation, only memorandum records of the financial transactions were
kept. The company board did not maintain
proper books of accounts and the accounting system. A very recent testimony to this assertion is
the controversial case of NNPC(The Nigerian national petroleum
corporation). The missing #2.8 billion
this was around 1979 and even recently more of such testimonies still exists.
Testimonies
at the House of Representatives special committee investigating the missing
money revealed a gross deficiency in the accuracy of the accounting
system. The presidency then under the
civilian administration set up a judicial commission of inquiry into the
affairs of the NNPC.
This country
will be saved a lot of waste in the midst of poverty if our government
corporation and parastatals are more efficiently managed. It is in the light of this project is being
carried out determine the accuracy as well as the adequacy of accounting system
of one of the government owned companies in Enugu state with a view to
ascertain how efficiently it has been contributing towards the improvement of
the efficiency of the management of the company.
1.2 PURPOSE OF THE STUDY
The purpose
of this project is to study the accounting system of government owned companies
to see is proper books of accounts and kept as required by the S.122 (1)(b)(c)
and 2 of schedule, table of the companies and Allied matters Decree 1968, and
to see how effectively the system helps the management of the company to
improved its efficiency by supplying it with relevant information in proper
form and timely enough to be useful in the fulfillment of its management
function.
(a) All sums of money received and
spended by the company and the matter in respect of which the receipt and
expenditure take place.
(b) All sales and purchase of goods by
the company.
(c) The assets and liabilities of the
company in subsection (2) of the same section it says “proper book shall not be
demanded to give a true and fair view of the state of the company’s affairs and
to explain its transactions.
1.3 SIGNIFICANCE OF THE STUDY
The study is
focused on the improvement of accounting system in government owned
companies. This work therefore, would be
significant and beneficial to the following ways.
A. The study is a scientific
enquiry geared towards the improvement of accounting system in government
companies. Therefore, it will be of
interest to the management of government companies, especially the accountants,
members of the Board of Directors etc.
B. The research findings would
contribute extensively to the existing pool of knowledge in the areas of
accounting system in Nigeria. The
academic and the general seekers in knowledge would gain from the pool of
knowledge in many ways.
C. The study is an academic effort
directed towards the laying of solid foundations for more research in the areas
of human endeavor, therefore, this work will be a great help to the future
researchers reference.
D. The improvement in the
accounting system in the government owned companies promotes the up-comings latent
accounting deficiency companies.
E. Finally, research work is an
academic task designed for the award of Bachelor Degree in Accountancy to the
researcher by the Madonna University collage, Okija, an affiliate of Esut.
1.4 SCOPE AND LIMITATION OF THE STUDY
The research
study is limited towards improved accounting system in government owned
companies. However, the researcher hopes
to cover all possible regarding government owned companies.
As more
concern is being expressed over the failure rate of government owned companies,
thus becomes necessary. This study was
conducted on selected companies within the limit of problem or difficulties
which government owned companies in this case it is necessary to determine the
extent to which accounting records or control is recognized for the success of
the government owned companies.
Policy by
careful and scientific analysis of accounting records he can bring to light
significant facts which will enable errors in management and policy to be
rectified and reform & economics to be introduced. He must be competent to device and
consolidate the accounting records of branches and subsidiaries, install and
direct costing system and generally to advise and give effect to their policy
and all matters affecting the business in its financial and accounting aspects.
HOW TO GET THE FULL PROJECT WORK
PLEASE, print the following instructions and information if you
will like to order/buy our complete written material(s).
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5,000) into our bank Account
below, send the following information to
08068231953 or 08168759420
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) after we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
AFFILIATE LINKS:
myeasyproject.com.ng
easyprojectmaterials.com
easyprojectmaterials.net.ng
easyprojectsmaterials.net.ng
easyprojectsmaterial.net.ng
easyprojectmaterial.net.ng
projectmaterials.com.ng
googleprojectsng.blogspot.com
myprojectsng.blogspot.com.ng
https://projectmaterialsng.blogspot.com.ng/
Comments
Post a Comment