IMPROVEMENT OF ACCOUNTING SYSTEM IN GOVERNMENT OWN COMPANY.

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

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Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

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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.

CHAPTER ONE

 

INTRODUCATION

• 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:-

1. 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.
2. 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.

 

• 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