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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 primary aim of this study is to check the effectiveness and efficiency of financial control in Computerized Environment. i.e. First Bank of Nigeria Plc and to ascertain whether computer has enhance profitability and control in the bank and other financial sectors or industries.

CHAPTER ONE

1.0 Introduction – – – – – – – 1

1.1 Background of the Study – – – – – 2

1.2 Statement of the problem – – – – – 3

1.3 Objective of the study – – – – – – 5

1.4 Hypothesis – – – – – – – – 6

1.5 Significance of the study – – – – 6

1.6 Scope of the study – – – – – – 7

1.7 Historical background of the case study – – – 8

1.8 Definition of Terms – – – – – – 10

CHAPTER TWO – Literature Review

2.0 Introduction – – – – – – – 13

2.1 Functional Financial Control in a Computerize Accounting

System and effectiveness in First bank Nigeria Plc. – -14

2.2 Limitation of Financial Control in a Computerized Accounting

System in First Bank of Nigeria Plc. – – – 16

2.3 Manual Bookkeeping and Electronic Data Processing – 17

2.4 Meaning and Purpose of Accounting System- – – 21

2.5 The Development of Computers – – – – 24

2.6 Method of Processing and application of Data in

Accounting – – – – – – – – 29

2.7 Advantage of Computerization of the accounting System 36

2.8 Limitations of Computerization – – – – – 39

CHAPTER THREE

3.0 Research Methodology – – – – – – 41

3.1 Introduction – – – – – – – – 41

3.2 Method of Data Collection – – – – – – 42

3.3 Source of Data Collection – – – – – – 45

3.4 Method of Data Analysis – – – – – – 45

3.5 Conclusion – – – – – – – – 46

CHAPTER FOUR

4.0 Presentation and Analysis of Data- – – – 47

4.1 Introduction – – – – – – 47

4.2 Data Presentation and Analysis- – – – – 47

4.3 Data Presentations – – – – – – – 48

4.4 Data Analysis – – – – – – – – 50

4.5 Summary of finding- – – – – – – 51

CHAPTER FIVE

5.0 Summary, conclusion and recommendation – – 53

5.1 Summary – – – – – – – – 51

5.2 Conclusion – – – – – – – – 52

5.3 Recommendations – – – – – – 56

Bibliography – – – – – – – 58

Appendix:

CHAPTER ONE

1.0 INTRODUCTION

In the ancient days, human activities were relatively easy. The difficulties posted by nature then, were considerably simply and demanded solutions of man and his way to solve them necessitated the inventors of machines. Since the invention of the first machines, the world has experienced a tremendous degree of advancement in technology and ones for the machine invented for solving complicated problems in the computer. With increasing frequency, it is recognized that an understanding of the computer how it influences accounting operations and it’s benefits to every accounting students and intend to work this world of advancing technology cannot be over emphasized.

Due to the recent intends in accounting operations and the complexity of these operations with the number of task to be performed constantly on the increase, today’s accountants are left with no option other than to always device ways by which these increasing tasks could be processed more speedily and accurately so that there will be no loss of information.

With the advert of computer many organizations have computerized their accounting systems, an example of such organization with computerized accounting system is FIRST BANK OF NIGERIA PLC.

1.1 BACKGROUND OF THE STUDY

In the last few decades, business activities have not only grown bigger and very much complex, but things happen even faster than expected, the combination of complexity, size and faster action and reaction generated a view for new management tools, especially tools for converting the large and complex volume of business data into useful and meaningful terms to assist management in decision making.

The processing of business data and the delivery of information using there machines is known as “AUTOMATIC DATA PROCESSING” OR “COMPUTERISED OPERATIONS”.

The effectiveness of computer depends on the ability of the user. Inherently the computer has no creative ability than the screw-driver or any simple machine. The fundamental power is it’s ability absorb a mountain data, manipulate the data, and bring out the results in a summarized meaningful form, quickly accurately for management use.

The entire accounting and management function started in a

BUDGET AND BUDGETARY CONTROL AS A TOOL FOR EFFECTIVE DECISION AND PLANNING IN MINISTRIES AND PARASTATALS

BUDGET AND BUDGETARY CONTROL AS A TOOL FOR EFFECTIVE DECISION AND PLANNING IN MINISTRIES AND PARASTATALS

(A CASE STUDY OF MINISTRIES AND PARASTATALS IN IMO STATE)

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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

Budget and budgetary control as a tool for effective decision and planning in ministries and parastatals.

The researcher is prompted into choosing this due to the peculiar nature of the topic budgetary control in ministries and parastatals. In this project work the definition of budget is being known as a techniques their task of planning, coordinating, directing and control in an organization. For a government ministries to achieve their aims budget must be enlisted in Agenda. In carrying out this project work the topic identify the objective, statement of hypothesis, significance of the problem and the limitation of the project work.

This project work is limited to the budget of Imo state government ministry and parastatals. Nevertheless profit oriented organization and parastatals make use of different budget to enable them meet their desire goals. I bid to identify those administrative probelsm personal observations and interview where made and conducted, it was discovered that budget and budgary are the key note of every successful body or organization as a result of policies not being strong enough to beat them to it.

Finally budget enjoys a wide application. They can be used in our private homes where a civil servant who earns and income and plan on it. Also the same thing is applicable to the ministries and parastatals.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

Statement of the problem
Statement of the hypothesis
Objective of the study
Significance of the study
Limitation f the study
Difinition of the term

CHAPTER TWO

LITERNATURE REVIEW

Budgets
Budgetary control
The planning and control process
Management by objective
Management by exception
Budgetary system in non-project secking organization

CHAPTER THREE

Research methodology

Primary source of Data collection
Type of primary source of data
Advantage of interview method
Secondary source of data collection
Type of secondary data collection

CHAPTER FOUR

TEST OF HYPOTHESIS

Budget and budgetary control in Imo state
Review of Imo state government budget
- 1997 Budget
- 1998 Budget
- 1999 Budget
- 2000 Budget
Presentation and analysis of data

CHAPTER FIVE

SUMMARY OF FINDING, CONCLUSION AND RECOMMENDATION

Summary of finding
Conclusion
Recommendation
Bibliography

CHAPTER ONE

INTRODUCTION

Budgeting is essentially concerned with planning and can be broadly illustrated by comparing with the routine a ship captain follows on each voyage. Before the voyage, he will plan his route, taking into account such factors as shipping harzards, tides and possible adverse weather forecast. During the voyage he will check on his plans and record and unusual conditions. If necessary, he may even have to leviater from his plan if prevailing circumstances require it. On completion of the voyage he will compare the conditions he encountered with those he expected and use the experience gained in planning similar voyages in the future.

Budgets and budgeting control are two accounting techniques, which top management adopts to achieve its tasks of planning, coordinating, directing and control in an organsiation. Planning is mainly concerned with the establishment of objectives the formulation, evaluation and selection of the policies, strategies factics and actions required to achieve these objectives planning was previously based on historical cost conventions. This process increased the emergency decision which top management had to make because historical cost conventions arenot future oriented; they do not aid planning.

In order to reduce to management emergency decision making processes and thus aid planning, variable budgets were introduced. This is so because managers want to know more than they have done currently in relation to last period performance, they also want to know how they have done currently in relation to their current target performance.

Control on the order hand follows closely after action has been taken. If is a process where by actual performance is compared with targeted budgeted performance any deviations from this target are investigated for an in-depth or positive explanations to be given. Budgetary control is the technique used for this purpose and when it is combined with budget, it becomes part of responsibility accounting the aim of budgetary control is to provide a format basis for monitoring the progress of the organization as whole and of its components parts, towards the achievement of the objectives specified in the planning budgets.

Budgets enjoy a wide application. They can be used in our private homes where a civil servant who earns a monthly income will map out his objectives and plan effectively with what he haste achieve these objectives. Both profit-oriented and non-profit oriented organization apply in all three tiers of government –local, state and federal.

Profit oriented organization use the type of budget that is output and objective oriented to enabl them know how efficient they have been in managing the resources available to them. They therefore use the planning programming budgeting system (PPBS) budgeted expenditure is compared with actual performance achieved. The system is based, not on traditional organizational structure and divisions, but on programmes grouping of activities common objectives.

This is in sharp contract with the type of that is used in non-profit seeking organizations like the local state and federal government agencies. This is the lineitem budgeting system. This method is the tradition the traditional approach to government allocation; it is oriented to expenditure and budget relates mainly to the organizations from which they are prepared not for the purpose for which money is spent.

OBJECTIVE OF THE STUDY

The purpose of the study is to find how budgets and budgeting control is used as a tool

THE BUSINESS OF FINANCIAL RATIOS AS A TOOL OF EVALUATING THE PERFORMANCE OF A COMPANIES FOR INVESTMENT DECISION

THE BUSINESS OF FINANCIAL RATIOS AS A TOOL OF EVALUATING THE PERFORMANCE OF A COMPANIES FOR INVESTMENT DECISION

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ABSTRACT

Risks and uncertainties are factors, which a business must face so long as it remains a going concern. Thus to avoid the effect of such risks and uncertainties, management and other potential businessmen are advised to adopt the tool of financial ratios.

The financial ratios will expose the position of the business in terms of performance and efficiency of operations. They show whether the management are efficient or inefficient in utilization of resources such as capital, assets labor etc.

This project work is aimed at highlighting usefulness of financial ratios as a tool of evaluating the performance of companies for investment decision.

Chapter one (the introduction) will explain the meaning of financial ratios, it will go further to state the purpose of the study, it significance, scope as well as definition of terms with respect of financial analysis.

Chapter two will deal with the literature review. Then the study of background of topic will be equally highlighted. Explanation of selected financial ratios will also be shown.

Coming to chapter three, the techniques of collection of data and data analytical tool to be used will be described here. The techniques for collection of data will include the questionnaire sources. The data analytical tools to be used as percentage size analysis and chi-square.

Chapter four shows the analysis of the data collected.

Finally, in chapter five, the findings be made will be stated, followed by recommendation to ensure effective and efficient use of financial ratios by users for investment decisions. Finally the conclusion will inform readers or users that usefulness or benefits of financial ratios in evaluating performance of companies for investment decision cannot be over emphasized and that if neglected, the shareholders or investors will not know their position or fate in companies.

TABLE OF CONTENT

CHAPTER ONE

Introduction 1
Purpose of study 5
Significant of study 6
Statement of problem 7
Statement of hypothesis 9
Scope and limitation of study 9
Definition of terms. 9

CHAPTER TWO

REVIEW OF RELATED LITERATURE 13

2.1 Importance of financial ratios 13

2.2 Users of financial ratios 15

2.3 Reliability of financial ratios 19

2.4 Limitations of financial ratios 19

2.5 Computation of financial ratios 22

2.6 Explanation of selected financial ratios 22

2.7 Final consideration in financial statement analysis. 28

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY 33

3.1 Sources of data 33

3.2 Sample to be used. 34

3.3 Methods or system of investigation. 34

CHAPTER FOUR.

DATA PRESENTATION, ANALYSIS AND INTERPRETATION 37

4.1 Data analysis 37

4.2 Test of hypothesis 49

4.3 Summary of ratio. 54

CHAPTER FIVE

Summary Of Findings, Conclusion And Recommendation 59

5.1 Findings 59

5.2 Recommendation 61

5.3 Conclusion 62

Bibliography 63

Appendix 69

CHAPTER ONE

1.1 INTRODUCTION

Financial ratios are tools used to analyze financial conditions and performance. Financial analysis means different things to different people. Trade creditors are primarily interested in the liquidity of the firm being analyzed. Their claims are short term and the ability of the firm to pay these can best be judged by an analysis of its liquidity. On the other hands, the claims of bondholders are long term. They are interested in the cash flow of the firm to service debts over a long period of time. The bondholders may evaluate this by analyzing the capital structures of the firm, the major sources and users of fund, the firms profitability. Finally, an investor in a company’s common stock is concerned principally with present and expected future earning as well as the stability of these earning about a trend. As a result the investor usually concentrates on analyzing the profitability of the firm (financial ratios)

the point of view of the analyst may be either external or internal. For external, it involves suppliers of capital while that of internal, the firm needs to undertake financial analysis in order to plan and control effectively. To plan for future, the financial manager must assess the firm financial position and evaluate opportunities in relation to their effects on this position.

With internal control, the financial managers is particularly concern with return on investment in the various assets of the company and in the efficiency of asset management.

Financial analysis involves the use of financial statement. These statement attempt to several things. They portray the assets and liabilities of a business firm at a moment in time usually at the end of a year.

They portray an income statement which involves the revenue, expenses, taxes and profit of the firm at a particular period of time usually one year.

While balance sheet represent a snapshot of the firm’s statement of assets and liabilities at a moment in time. The income statement depict its profitability over time.

To evaluate a firm financial condition and performance, analysis and interpretation of various ratios should be given to experiment and skilled analyst.

The analysis of financial ratios involves two types of comparison

INTERNAL COMPARISON: Here the analyst can compare a present ratio with past ratio of the same company. It can also be computed for projected or perform a statement and compared with present and past ratio.
The second method of comparison involves comparing the ratio of one firm with those of similar firm or with industry (this type of comparisons is known as Finding the Industry average of firm). This comparison gives insight into the relatives of financial conditions and performance of the firm. But my emphasis in this research work is to limit it to the first comparison or internal business enterprises have leased to operate or collapsed as a result of increase in market uncertainties ( with unsteady interest raes exchange rate, political instability) and inability of some business managers to use financial ratio effectively and accurately in the assessment of the performance of their organization. In order to attain the traditional objectives of maximization of shareholders wealth, the managers should use or apply financial ratio in taking necessary business decision.

Many banks have gone distressed because of inability of bank managers to check their lending by using financial ratio to ensure that they do not go below their minimum liquidity levels and that of reliable and viable business are given loans and overdraft.

As a result of economic hardship and inflation prevailing in the economic, it becomes very important that an effective and reliable means of evaluating the performance of companies for investment decision should be adopted any management shareholder creditors and even general public. Financial ratios analysis is one of the major techniques and in evaluating performance of business organizations.

Financial ratio exposes the position of the business in terms of performance and efficiency of operation. They show whether the management are efficient or inefficient in their utilization of resources such as capital assets, labor etc.

The degree of leverage of a company is ascertained from financial ratio analysis and this will enable stockholders and other suppliers of capital known the degree of gearing in a company’s capital structures. Prospective investors can now measure their risk in the company and decide whether to invest in the company or not.

Financial ratios indicate whether the value of stock of the company is increasing or falling. This provides prospective investors opportunities to decide whether to invest or not and existing stock holders whether to hold stock or dispose them

Because financial ratios express areas of weakness and strength of the companies mangers used them to review operations for better performances in future.

There are many financial ratios used in evaluation of a company’s performance but for purpose of this study, it will be limited to activity, leverage investment, liquidity and profitability.

1.2 PURPOSE OF THE STUDY

The objectives of this research work is to assess or know the importance/usefulness of

IMPROVEMENT OF ACCOUNTING SYSTEM IN GOVERNMENT OWN COMPANY.

IMPROVEMENT OF ACCOUNTING SYSTEM IN GOVERNMENT OWN COMPANY.

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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 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.

Direct observation of accounting staff at work.
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:-

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.
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

THE OVERVIEW OF LOCAL GOVERNMENT FINANCE IN THE NEW MILLENNIUM

THE OVERVIEW OF LOCAL GOVERNMENT FINANCE IN THE NEW MILLENNIUM