ATTENTION:
BEFORE YOU READ THE ABSTRACT OR
CHAPTER ONE 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
WHATSAPP US ON
08137701720
IMPROVEMENT OF
ACCOUNTING SYSTEM IN GOVERNMENT OWN COMPANY.
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 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: 3139283609
Bank:
FIRST BANK
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
https://projectmaterialsng.blogspot.com.ng/
https://foreasyprojectmaterials.blogspot.com.ng/
https://mypostumes.blogspot.com.ng/
https://myeasymaterials.blogspot.com.ng/
https://eazyprojectsmaterial.blogspot.com.ng/
https://easzprojectmaterial.blogspot.com.ng/
Comments
Post a Comment