THE ROLE OF ACOUNTANT IN PROJECT FEASIBILITY AND VIABILITY APPRAISAL ( A CASE STUDY OF CASAVA STARCH PRODUCITON)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

The entrepreneur must have a range outlook on the intended business investments,  business investments,  examine the alternative uses of capital and account for financial requirement and carry sensitivity and risk analysis.

This study promises an analysis and illustration of the principles of feasibility and viability appraisals and highlights the essence of the subject matter.  It also brings into focus the accountants essential contributions, which have hitherto tended to be cost in wide diffusion

In view of the objective of the study, the literature review examines the views of various writers on the subject matter. Its emphasis is on meaning, importance and components of feasibility and viability studies historical perspective and the role of the accountant thereof.

Research design and methodology details the method used in carrying out the research for the project.  It specifies the sources of data, target population, sampling method and also describes the research instruments and method  of administration and analysis of data.

Data presentationa dn analysis presnts a afeasbility case study of hosuehold cassava – starch milling plant. It details the findings of the researcher regarding the project and examiones.

Specifically the marketing, technical economic and social factors involved

Financial analysis and evaluation provides an illustration of the role of the accountant in a practical project appraisal situation.  It details the application of the data presented above in making relevant financial projections for 5 years.

Also a matching of the projected cost against the projected revenue is done.

In conclusion, this study centered on the role of an accountant in a project evaluation which has been demonstrated in this study by the viability appraisal of operating a starch milling plant

 

 

 

 

 

 

 

 

 

 

 

 

Table of content

CHAPTER ONE

• Introduction

1.1     Background to the study

• Statement of the problem
• The objective of the study
• Scope of the study
• Research questions
• Significance of the study
• Definition of the terms used in the study

CHAPTER TWO

• Literature review

2.1     Meaning and significance of feasibility and viability appraisal

• Historical perspective
• Basic distinction between feasibility and viability appraisal
• The importance of feasibility and viability appraisal
• Compared of feasibility and viability study
• Roles of accountant in the formation and development of new enterprises
• Feasibility and viability studies and accountant.

Chapter three

• Research methodology

3.1     Research design

3.2     Population and sample size

3.3     Research instrument used

3.4     Design of interview guides

• Method of data analysis

Chapter four

• Data presentation

4.1     Data presentation and analysis of result

Chapter five

5.0     Summary of findings, recommendations and conclusion

• Recommendations
• Conclusions

References

Appendix I

 

CHAPTER ONE

 

• INTRODUCTION

The rigous and strains of borrowing, especially in Nigeria and Africa in general are not doubt enormous.

The fault is not that of the lenders (banks) alone as critics claim that the borrowing public are partly responsible for the frustrations. A large portion of the borrowing public are substantially under-educated (about borrowing with this regard, they approval heir prospective lenders unprepared and largely ignorant of the why’s and what’s of their request.  A substantial number of people who approach banks for loans have no business going to the banks to borrow in the first place.  If at all their business and needs are gerund, perhaps they should have tried their friends, relatives or associates first before going to bank to borrow.  No one can fault the bank (lender) on their criteria because the banks is also in business to stay and grow.

Among all other activities of the banks lending is the most vital bank undertaking which should be carefully emphasized, may because it is the most profitable undertaking of the bank or its contribution to the economic growth of the country in general

The federal reserves system,. Financial intermediaries, government and business can be thought of making up the financial environment within which we all strive to achieve our goals but which largely is beyond the control of any single decision unit. Due to the lack of substantial knowledge about the behaviour of this financial environment, however, we are advised to enhance that knowledge.  It seems clear to me that we all have an interest in the development of empirically substantiated theories of behaviour of a financial economy.  After-all, failure of broad section of the economy, whether  in the form of inflation’s, mass bank failure or in dispread business closing is a situation whereby large portion of the borrowing with the result that they approach their prospective lenders unprepared.

The burden of proof is therefore in the prospective borrows  should be educated, and get educated is there fore the message of this topic.  It is a further contribution to the promotion and development of an improve business culture by helping to educate the borrowing public. The most critical Turing in a loan proposed are really simple ordinary things that many borrowers especially first time borrowers and small scale enterprises regard as unnecessary and in consequential. The borrower should know that the loan officer cares about the neatness of the documents presented, the language of ht proposal, its substance, the character of the promoters and borrowers is of consequence to the loan offer decisions criteria because he associates.  These with the ability of the borrower to perform maintain control and achieve the designed results and finally to pay back the loan.

Areas of general interest to lenders include,

• Personal credit record of the borrower
• Financial history of the business
• Growth of the business
• Profitability of the business
• Physical condition of the facilities and equipment
• Experience of the key managers to reduce risks, lenders required some of the following
• An equity pledge by the owner to the lender
• A personal asset pledge by the owner to the lender
• A consigning of the loan by all principle or guarantors
• A lien on all assets and personal property of the owes

 

This study represents a modest effort to provide substantial information about that part of the financial environment which is the criteria of borrowing and repaying business loan as a guide towards economic development

 

1.1     BACKGROUNDS; THE DEVELOPMENT OF BANKS IN NIGERIA

          The development of banks may be divided into three periods, partly arbitrarily as any such periodization may be.  A preparatory period ending in 1950 to 1960’s during which time the essential features of banking, as we know them developed.

At the turn of the century, the range of institution included those that specialized in exchange and merchant operation, individual money lenders, rotating credit associations and bank of British west Africa founded in 1980 by sir Alfred Jones.  Not until the beginning of the fifties, banking in the main was largely rudimentary, differing greatly from present day institutions not only in size but also in sources and use of their funds.

Banking operations are more of less continued to large centers of overseers trade and even then, the banks had little contracts with nature public  except for a small amount f savings business.

In 1957, the two expatriate banks   BBWA and bar days bank had in all forty-six branches in west Africa-adding about six indigenious bank was found in 1933 and the beginning of 1951, five more were formed and in the fifteen months between February 1951 and May 1952, not less than 18 indigenous banks were registered with one exception, they had all leased operation by 1945

Bank failure such as these, weekend public confidence in indigenous banks.  The failure of these banks appeared  to be the cause many Nigerians decided to be keeping their savings at home or in other instruments seeing banks as unreliable. Nevertheless, rapid expansion and evidence of past financial heritable continued and by 1962, there were over two hundred banks offices in Nigeria.  From this, one can then say that the banking system has made undertaken over this short periods,  a remarkable penetration into domestic business and be hold it continuous operation.

The total number of indigenous banks and other banks was 18 at the of August 1976 with 459 branch offices including offices of the six merchant banks.  The earliest attempt to regulate the

THE ROLE OF ACCOUNTING IN THE CONTROL OF PUBLIC EXPENDITURE IN NIGERIA

(A CASE STUDY OF CENTRAL BANK OF NIGEIRA (CBN)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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CHAPATER ONE

• Introduction
• Historical Development of CBU (A Public company)
• Statement of problem
• Purpose of study
• Research questions
• Significance of study
• Scope and limitations of the study
• Definition of term

References

 

CHAPTER TWO

• Literature Review
• Historical development of Accounting in Nigeria
• The nature of accounting principles
• Types of accounting principles
• Factors affecting accounting principles
• Budgeting and budgetary control
• Standard costing as a tool for control

References.

 

CHAPTER THREE

• Research Methodology
• Research design
• Determination of sample
• Area of study
• Population study
• Sample of study
• Method of investigation
• Method of data analysis
• Development of research instrument

 

CHAPTER FOUR

• Presentation of data & Analysis
• Presentation of data
• Analysis of data

 

CHAPTER FIVE

• Summary of findings
• Conclusion
• Recommendations
• References

 

CHAPTER ONE

 

• INTRODUCTION

In most developing countries including Nigeria, government participation in economic activity is usually significant.  One of the ways through which government has intervened in Nigerian economy is through the establishment of public enterprises and statutory bodies operating services of an economic or social character on behalf of the government.

Since the colonial era, especially after independence in 1960, Nigerian public enterprises have witnessed a steady growth unit recently.  Its Olisa (1988:133) pet it. Beginning as a trickle in the period between this era of the second world war and Nigeria attainment of independence the creation of public corporations had risen to flood level since independence and his maintained a steady growth.  The rational behind the establishment of public enterprises in Nigeria are many.  Some of the reason include:  generating revenue, they would add to available rational capital for the support of development and welfare programme, making to be controlled by a  few individual, it possible for important profitable enterprises to be controlled by a few individual or group, organization certain critical activities national survival and economic stability and providing employment opportunities (Ademolukun 1983).  However, after a long period of growing, starts intervention in the Nigerian economy through public enterprises, the and of 1980’s onwards had witnessed a reversed which has sometimes been dramatic in public opinion and therefore public policy.

This has been brought by the persistent losses which state enterprises that have been running over fears. Consequently, there has been a willingness to look at alternative policy strategies for the achievement of economic development.  At the forefront of these strategies is the minimization privatization of public enterprises.

In Nigeria, public  enterprises are engaged in a while spectrum of economic activities including agriculture, mining, construction, manufacturing, commerce and services.  The classification of public enterprises in Nigeria, had been made according to varieties of criteria by different authorities.  The public service review commission (1975:101) classified public sector int.

Public utilities

Regulatory of service body

Financial institutions

Commercial ad industrial enterprises

Being a mixed economy, individuals also own and operate private enterprises.  A firm classified as private enterprises when it is founded and managed by an individual and Ora group of individual.  These firms are expected to be registered in the local government within which they operate.

 

The rationale for the establishment of private enterprises are numerous just like establishment of public enterprises. T hey include amongst other.  Provision of employment opportunities.  Generating  income for the owner of the enterprises.  Government interest in profit growth of the enterprises which determine the tax liabilities of the firms, improve the performance of the public sector through competition.  Moreover, the general public is concerned with the contribution which makes towards social upliftment which is exhibited to the environment in which the business is loaded and its willingness to contribute to the development of the environment.

The activities of the public enterprises have been on the increase in resent times which necessitated the introduction of the accounting practice to check and monitor the financial activities of these enterprises.  In this book, titled principles of accounting, by Bimage (1985) accounting is defined as a process by which data relating to the economic activities of an organization are measured, recorded and communicated to interested parties for analysis and interpretation.

The earliest method of accounting records were kept in physical quantities.  These records came from the Eastern (early) civilization which involved in the countries around the Mediterranean sea such as Mesopotamia, Egypt, Crete, Italy etc.  money was recorded as soon as money took the place of barter as a medium of exchange and unit of accounting practice has been closely related to the economic development of the country.  If the business organization grows in size and complexity, management and outsiders became more clearly differentiate from the outside groups which include owners of the firm (stock holder) creditors, government employer and the general public.

The differentiation necessitated the need to have accounting department in the enterprises to give accurate financial of the management and to satisfy the outside demands or the general public who are already interested on whether the enterprises in growing or not.

 

The role of accounting in public enterprises in Nigeria is primarily to ensure accurate accountability in these sector and present the time and fair financial position of the enterprises.  The role is of utmost importance in any organization.  An organization can only grow or profit when the resources are well managed and effective observed over expenditure.  These resource can only be well managed if accounting department of the organization give an accurate financial information to know how ,much the enterprises having.  It is only when this is done that the firm allocate its resources and knows what is to be done.

The role of accounting seems to be more pronounced in the public enterprises.  In recent time there are cases of misappropriation of funds in the public enterprises and improper accountability.  These factors have led to a lot of public enterprises going into oblivon. If the government has reorganized the role of accounting, all these febles should not have arisen.  No enterprises can move forward without having a well organized financial departments to give accurate financial; information about the firm.

 

This is because if improper accounting records are not minimized or where possible eradicated these is bound to be cases of public enterprises failure.  Consequently, staff of such enterprises will forced out of their job.  This will result to economic and social; activities in the society.

 

• HISTORICAL DEVELOPMENT OF CBN (A PUBLIC COMPANY)

The formation of CBN started gradually in the early 1950’s but gathered momentum by the middle and towards the decade.  Precisely CBN was established in 1958.  Among the factors that led to the formation for an apese financial institution in the early “50s” were the dissatisfaction and short coming to the west African currently board.  The WACB established in 1912 was playing the role for an apese monetary institution in the British West Africa especially in areas of the country.

The issue of West Africa Currency exchanging this with the existing currencies, investment of reserve mainly in London and the repatriation of existing currencies. However, because of the anomalies and short coming of the WACB especially as if could not perform the monetary management, Nigeria nationalist continued to amount pressure on the colonial administration for the establishment of a central Bank that should have all pioneers of a central bank, and not just a glorified currency exchange house.

In 1952 at the floor of  federal house of Assembly (First sitting) Lagos-Chief Anthony Enahoro Summoned up courage and mored a private member motion calling for the establishment of central Bank for the purpose of rapid economic development in all its phases.

Howe

THE IMPACT OF EMPLOYEES PARTICIPATION IN DECISION MAKING AND ORGANISATIONAL PRODUCTIVITY (A CASE STUDY OF ANAMMCO COMPANY ENUGU)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
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Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
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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 BANK SECURITY FOR 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. 

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ABSTRACT

Decision is the point at which plans, policies and objectives are translated into concrete action.  It is noted that Managers, do consider decision making to be the heart of their job in that they must always choose what is to be done, they influences the ordinary employees in decision making.

The objective of the research is to know the impact of employees participation in decision making on organizational productivity in Nigerian public sector organizations.

Structural questionnaires were administered to 210 respondents which include the management (senior) and intermediate staff of the company, through the employees participating in the decision making will result to high productivity in the organization.

Data collected are analysed in a tabular form using a simple percentage of formular to get the findings.  The results were discussed in terms of the need for the employee to participate in the decision making in an organization to boost productivity.

 

 

TABLE OF CONTENTS

CHAPTER ONE:

• Introduction

1.1     Background of study

1.2     Statement of problems

1.3     Purpose of the study

1.4     Scope of the study

1.5     Research Hypothesis

1.6     Significance of the study

1.7     Limitation of the study

1.8     Definition of Terms

 

 

 

CHAPTER TWO

• Review of Related Literature

2.1     The Concept of participation

2.2     Factors that influence participation

2.3     Prerequisites for participation

2.4     Forms of Employees participation

2.5     Different needs for participation

2.6     View Expressed

2.7     Constraints to participate

2.8     Argument for participation

2.9     Argument against participation

References

 

CHAPTER THREE

• Research Design and Methodology

3.1     Research Design

3.2     Area of the study

3.3     Population of the study

3.4     Sample and Sampling procedure

3.5     Instrument for data collection

3.6     Validation of the instrument

3.7     Reliability of the instrument

 

 

• Method of data collection
• Method of data analysis

References

 

CHAPTER FOUR

• Data Presentation and Analysis

4.1     Presentation and Analysis of Data

4.2     Testing of Hypothesis

4.3     Summary of Results

References

 

CHAPTER FIVE

• Discussion, Recommendation and Conclusion

5.1     Discussion of Result/Findings

5.2     Conclusion

5.3     Implications of Result/Findings

5.4     Recommendations

5.5     Suggestions for further research

Bibliography

Appendix

Appendix

 

CHAPTER ONE

 

 

• BACKGROUND OF THE STUDY:

It should be known first that a decision is a choice whereby a person forms a conclusion about a situation Costello, I Wand Zalkind, S.S. (1963 p. 334), confined the term decision making, to a choice process, choosing one from among several possibilities.  However, election theory in Costello, T.W. et al (1963, p. 387) largely considers decision as asking the process of making a single choice among course of action at a particular point in time.  This depicts a course of behaviour about what must be done or vice versa.

Decision, however, is the point at which plans, policies and objectives are translated into concrete actions.  Planning engenders decision guided by company policy and objectives, policies, procedures and programmes.  The aim of decision making is to channel human behaviour towards a future goal.

Decision making is one of the most germane activities of management.  It has been the preoccupation of all the management of multifarious organization ranging from small-scale organization to multinational corporations.

Managers many at times consider decision making to be the heart of their job in that they must always choose what is to be done, who will do it, when, where and most of the time how it will be done.

Traditionally, managers influence the ordinary employees and specifically, their immediate subordinate in the organization.  This has resulted in managers making natural decision even in area affecting their subordinates.  In Germany, around 1951, a law enacted which provides for code termination and requires labour membership in the supervisory board and executive committee of certain large corporations.  However, the participation of labour in decision making process results to relatively and peacefully labour management relations.

Additionally, the Japanese management WSES decision making by concensus in which lower – level employee initiate the reaches the desk of the top executive.  If the proposal is approved, it is returned to the initiator for implementation.

It is in this context, that the researcher wishes to assess the impact of employees participation in decision making on organisational productivity in Nigerian Public Sector organization, using Anammco Company as a case study.

1.2     STATEMENTOF THE PROBLEM:

There has been a lot of controversy as to whether an employee should participate in managerial decision making or not.  Some writers argued that employees where it affects them or their jobs, it is expected that such participation will serve as training and testing ground for future members of upper management.

In Nigeria, experts that refuted the above assertion see the arrangement as a symptom of malorganisation

THE PROBLEMS OF WORKING CAPITAL MANAGEMENT IN THE PRIVATE SECTOR.

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

 

CHAPTER ONE

 

• THE INTRODUCTION

The main objectives of any business in the private sector is to make profit, but the uncertainty inherent in today’s economical environment threatens the survival of every business and makes sound liquidity and management, the local point for financial management rather than achievement of maximum profit.

1. For sometime past, the convention revenue occurs and balance sheet have been considered sufficient for the effective control of a business. The deeper study and in creased financial lead to an ever growing and importance of working capital and it’s influence on the success or otherwise of business operations.

 

2. Working capital management has been various defined but in a nutshell, it refers directly to planning, organizing, financing and controlling of resources available to the business in order to achieve set of objective or a definite goal.

L.R. Howard puts it this way; working capital may be regarded as the life hood of a business. Its effective provision can do much to ensure the success of a business while it’s in efficient management can lead not only to loss of profit but also to the ultimate downfall of want.  Otherwise might be considered as a promissory concern.

 

3. It is certain that if skilled working capital management is not available in amount of finance provided will transform a financially weak company with mediocre performance into a strong and dynamic organization enjoying a scintillating reputation.

 

• BUSINESS GUIDING OBJECTIVES

Every business has its objectives that guides its policy and in

their most basic form include survival, profitability and growth.  Growth objectives are the control philosophy of any successful management.  This may be expressed in a variety of ways. Sales, profit, market share, geographical coverage, product line but they are all contingent on a continues flow of funds affording management the means to implement decisions.

So, while the primary financial responsibility form an ownership view point may be to maximize value, the financial executive primary managerial responsibility is to present the continuity of the flow of funds, so that no essential decision of top management is frustrated for lack of corporate purchasing power.

1. Considered in these terms the researcher wants to examine how working capital has been managed overtime in an organization.

 

2. To examine if an organization has sufficient cash to maintain a smooth functioning organization that takes advantage of discounts similar savings.

 

3. To examine I cash and inventory are excessive in an organization.

 

To investigate of an organization has adequ

ABSTRACT

This project work “The Problems of Working Capital Management in the Private Sector” affords the reader a step by step approach to the study of the rast filed of private sector and the problems encounter in the management of these private sector.

The first chapter of this work provides relevant introductory materials and objectives guiding business within the region of private sector. The second chapter provides the central philosophy of a successful management, meaning of working capital management and the inefficient management of working capital. In this work, we shall come to know that profit is the sole aim of every business and must be targeted at any point in time.

This work will help most especially the private sectors to know how to go about maximizing profit. I remain grateful to director school of financial studies Onovo and also to all my well wishers.

INTERNAL CONTROL IN AN EXAMINING BODY-

A CASE STUDY OF THE NATIONAL EXAMINATION COUNCIL, ENUGU ZONAL OFFICE

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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.

WE HAVE SECURITY IN OUR BUSINESS.   

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CHAPTER ONE:

INTRODUCTION

1.1     Background of the study

1.2     Statement of problem

1.3     Purpose of the study

1.4     Significance of the study

1.5     Scope and limitations

1.6     Statement of Hypothesis

1.7     Definition of term

End Notes

 

CHAPTER TWO:

REVIEW OF RELATED LITERATURE

2.1     A checklist of internal control

2.2     Qualities of a good internal control

2.3     Internal control and Accounting profession in Nigeria

2.4     Internal control of real-time installation

2.5     Consideration of an effective control system

2.6     Articles that enhance internal control system

(magazines and journals)

End Notes

 

CHAPTER THREE:

RESEARCH DESIHN AND METHODOLOGY

3.1     Source of Date

3.2     Survey instruments

 

CHAPTER FOUR:

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1     Presentation and Analysis of data

4.2     Interpretation of data

 

CHAPTER FIVE;

FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1     Findings

5.2     Conclusion

5.3     Recommendation

Bibliography

Appendices

 

CHAPTER ONE

INTRODUCTION

Background of the study:

Internal control was defined by the Auditing standards and guideline as a whole system of control both financial and otherwise, established by management in order to carry on the business of on enterprise in an orderly and efficient manner, ensure adherence to management polices, safeguard the asset and secure as far as possible the completeness and accuracy of records.’’(1)

In reality, internal control form the bedrock of auditing both from the point of view of management and the auditor, its objectives being the prevention or early detection of fraud and errors. It may include internal auditing which qualifies as part of the system of internal control and it is designed for the following reasons:

(a)      To enforce financial and other control:

(b)     Ensure adherence to management policy

(c)      Help to safeguard the assets (cash)

(d)     To ensure the accuracy and reliability of the records

(e)      Help to ensure orderliness in the business and

• Help in the prevention and early detection of fraud and errors.

An artificial review of the change in the Accounting practice will depict the essence of internal control system in an organization especially in an examining body.

The earliest known form of accounting, which is stewardship, Accounting started as far back as 450 B.C.  This form of accounting involves the orderly recorded of business transaction by person appointed by the landlord to serve as a stewards for them. This was later changed as the recording remained primitive stewardship accounting pave may to financial accounting during the nineteenth century which marketed the era of industrial revolution”. This indeed led to the advent of joint stock companies- a situation where by group of individuals contributed capital in exchange for shares in the asset and profits of the company sea bubble of 1720, had earlier on instilled fear and suspicion in the mind the public that they doubt the ability of the directors to carry out this type of trade honestly.

Management accounting however, is not left but for it is another aspect of accounting that got it authority and ground from the historical recording and analysing role of accounting to emphasizing detailed information for internal planning, control and decision making.

Currently most business are operated by limited liability companies which are owned by their share holders, but managed by the directors appointed by them.

In the same vein, the public corporation and establishment, and even examining bodies are owned by the public but under the management of appointees.

The appraisal of the work of these appointees are carried out by an independent person referred to as an auditor, who is charge with the responsibility of evaluating and examining the accounts of the management and report on his finding to the owners (share holder) of the company or corporations. It is pertinent to note that one of the tools or mechanism adopted by an auditor in appraising the work of the management is the internal control system with this system of control, the share holder are convinced or self assured on efficient and effective management of their assets and resources.

 

1.2 STATEMENT OF PROBLEM:

In an attempt to overcome envisaged problem in the presentation of accounting information and the system internal control, the government made a leading statement and regulations which serve as a yardsticks by which an accounting system could be measured. Also accounting and Auditing professional bodies laid town some guidelines, which will guide their member, and all practicing Accountants and Auditor in the performance of their professional duties.