THE ROLE OF ACCOUNTING IN THE CONTROL OF GOVERNMENT EXPENDITURE

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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

 

PREFACE

          This term paper is a dear exposition of role of accounting in the control of forernment expenduture.

The writer has brought her considerables research report as a student who has really gone through research studies by analyszing the role of accounting in the control of government expendeture.  This term paper will enable accountin student to develop their ability to focus on what is relevant and ways means and methods of accounting in the control of thermment expenduture which will improve the auality of accountability in government expenditure.

It is arranged in such a way that one chapter flows and naturally leads to another. It is arranged in three chapters the study starts in chapter two analyses of the areas of expenditure, explain account and analysis of the differences of public expenditure planning and chapter three summaries of the topics.

Generally, this term paper is ideal for studies studing accounting academicans will also find this a worth reference material.

CHAPTER ONE

INTRODUCTION

• BACKGROUND OF THE STUDY
• STATEMENT OF THE STUDY
• PURPOSE AND OBJECTIVE OF THE STUDY
• SIGNIFICANCE OF THE STUDY
• SCOPE AND LIMITATION
• DEFINITION OF TERMS

 

 

CHAPTER TWO

REVIEW OF RELATED LITERATURE

• MEANING OF PUBLIC ACCOUNTING
• SOURCES OF MONEY INTO PUBLIC ACCOUNT
• AREA OF EXPENDITURE FROM PUBLIC ACCOUNT
• WHO IS AN ACCOUNT
• TYPES OF ACCOUNTING OFFICERS IN THE ACCOUNT
• THE ROLE OF ACCOUNTING OFFICERS IN THE CONTROL OF PUBLIC EXPENDITURE
• DEFFICIENCES OF PUBLIC EXPENDITURE PLANNING

 

CHAPTER THREE

• SUMMARY OF FINDINGS
• CONCLUSION
• RECOMMENDATION

BIBLIOGRAPHY

 

CHAPTER ONE

INTRODUCTION

• BACKGROUND OF THE STUDY

Accounting is said to be a language of business.  Accounting is the act of recording, classifying and summarizing; analyzing, interpreting and reporting financial transaction.  Every body in the society works with accounting concepts and information in their duty activities, whether preparing a household budget, balancing check book, prepaid income tax return, running an association or an organization.  Therefore the owners and managements of any firms need accounting knowledge in order to understand what accounting is al about.

The major purpose of accounting is to provide financial information or records about an economic entity.  In order to do this there is need of keeping track of the daily business activities.  The methods used by a business to keep records of its periodic accounting reports comprises the accounting system is to create a systematic record of the everyday business transaction or activity in terms of many ways, such as follows;

1. By writing with pen and pencil
2. By printing with mechanical or electronic e.g digital computer

• By punching roles or making magnetic impressions cards or tape.

Accounting information can be created thus;

Recording

Classifying

Summarizing

Accounting reports are usually rewered by users of accounting information.  since the information needs of various users differ.  It follows that the accounting system of a business eutity must be able to provide various types of accounting reports.  The information in these reports must be presented in accordance with certain ground rules and assumption, so that users of the reports will be able to interpret the information propery.

 

• STATEMENT OF PROBLEMS

It has been said that accountants plays an important role in the control of government expenditure and this role they play have some effect.  The problems inudering accountants from implemented effective control are stated below;

1. Lack of understanding of the purpose of government accounting among the society in general and the following specific groups in particular, the policious, the administrations and a subsantial proportion of the accounting personnel in government.
2. Lack of co-ordination between budgetring and accounting which are complimentary functions, non use of government accounts for budgeting function by the budget department.
3. shortage of qualified accounting staff due to lack of training facilities within and outside government.
4. difficulty of pusing through proposals of improvement in financial administration at both national, state and departmental levels.
5. failure to apply computerization effectively to the accounting systems.

accounting personnel poses inadequate accounting education, therefore poor undrstanding of the role of accounting

THE IMPACT OF ACCOUNTING INFORMATION ON DECISION MAKING PROCESS

(A CASE STUDY OF ANAMMCO 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
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

ABSTRACT

 

This research work is on the impact of accounting information on decision making process, with a particular reference to the Anammco LTD Enugu. The research was geared towards understanding the operations in Anammco Ltd with an emphasis on decision making process. The problems, prospects and implications of the programme were also examined.

The objective of the study is therefore to expose to various departments the proper way to embark on effective accounting information. Forty questionnaires were distributed of which thirty were completed and return using stratified random sampling. Also related literatures dealings with the impact of accounting information were examined. Some personnel of Anammco Ltd were interviewed, and secondary data were obtained from books

The data collected were later analysis and interpreted. From the study, it was discovered that accounting information is an important aspect of management policy, for higher productivity, efficiency and increased performance, though it involves a huge financial obligation.

Various organizations should therefore try and embark on accounting information on decision making for successful running of their organization.

CHAPTER ONE

1.0 Introduction

• Background of the study\
• Statement of the problems
• Purpose of study
• Scope of study
• Research questions
• Statement of hypothesis
• Significance of study
• Definition of terms

CHAPTER TWO

2.0 Literature Review

2.1 Brief history on the development of the company Anammco

• Accounting nature
• Accounting objectives
• Value of information related to decision making process
• The impact of accounting on the Annamco Ltd
• Characteristic of accounting
• Users of accounting information
• Tools of accounting information

2.9.0Kinds of accounting information

2.9.1 Financial accounting information and tools

2.9.2 Analysis of financial statement

2.9.3 Significance of ratio analysis

2.9.4 Funds flows analysis

2.9.5 Cost and management accounting information tool techniques and models for decision making.

2.9.6 Cost classification

2.9.7. Cost volume project analysis

2.9.8. Linear programming and other types of costing analysis

• Summary of the chapter.

CHAPTER THREE

3.0. Research Methodology

3.1 Research questions

3.2 Research Design

3.3 Area and population of study

3.4 Sample and sampling procedure

3.5 Instrument of data collection

3.6 Validation of the instrument

3.7 Methods of the instrument

CHPATER FOUR

4.0 Presentation of data

4.1 Analyzing data

4.2 Test of hypothesis

4.3 Interpretation of data in the research questions.

CHAPTER FIVE

5.0 Summary and conclusion

5.1 Discus of findings

5.2 Conclusion

5.3 Recommendations.

5.4 Suggestions for further study

5.5 Limitation of the study

5.6 Implication of the study

Reference

Bibliography

CHAPTER ONE

 

1.0     INTRODUCTION

          This research work on the impact of accounting information on decision making process, a study of Anammco LTD Emene is geared to X – ray the impact that accounting information exert to improve the decision making process of a company with reference to ANAMMCO LTD ENUGU.

Decision making is simply making a choice out of several alternative or it is the process of studying and evaluating two or more available alternatives leading to a final choice.

1.1     BACKGROUND OF STUDY

          With the view of being independence, Nigerians had the view of a better tomorrow. We were able to feed ourselves and provide ourselves with social, economic and political endeavor. Subsequently our hopes seemed unattained which made the country becomes as strong as the Iroko tree. The idea had, was that it would be worst for Nigerians to our economic adverse situation raising its ugly head. This economic crisis has made financial institutions industries (large or small scale) go into distress at alarming rate and those who service this financial problem has form the onset prepared his/her firm against this ugly situation by mapping out all kinds of straggles example increase in price of this goods, adopts favorable production tool, engage in marketing etc.

Any business, firm, establishment that wants to survive this present day bad economy in Nigeria must make a right decision, map out a good and competitive strategies to carry out his/her business successful. The price of any convincible item from garri and bread to electronic and educational items not to talk of the life wire of every man standing that is petrol which has presently made life unable for the adjust.

The economy is really in direstacts, the era of mile thumb is employing it, is a sure way final abysmaky. Organizing human and natural resources intricately are the problems of various organization, effective planning and decision making process. Other factors such as stag flatiron taxation, economic and political empowerment this research accounting, cost accounting as well as management accounting. There are other branches of accounting that would be favorable “Financial Accounting” is that part of accounting which covers the classification and recording of actual transactions of an entitling in monetary terms in accordance with established concepts, principles of accounting standards and legal requirements. It involved metamorphosed into a very complex web of inter-grated financial information system which modern organization cannot do without.

It presents a broader, more overall view of the organization with primary emphasis upon classification according to type of transaction rather than cost and management accounting emphasis on functions, activities, products and process and internal planning control. Cots accounting and management accounting are very much intrinsically inter that is to say that the different between the two superficial so that definition of management accounting is the provision of information require by the management for use, identifying, presenting and interpreting of information used for.

1. Formulating strangely
2. Planning and controlling activities

• Decision taking

1. Optimizing the use of resources\
2. Disclosure to shareholders and other external to entity
3. Disclosure to employees

• Safe guiding assets

There are various ways one can involves or participate in management to that there is effectiveness.

1. Formulation of plans to meet objectives (strategic planning)
2. Formulation of short term operation plans (budgeting profit planning)

• Acquisition and use of finance

1. Reviewing and reporting on systems and operations
2. Corrective measures to bring plans and results.
3. Communication of financial and operating information.

Cost accounting as the part of management accounting which establishes budget and standard cost of operations, department or products and the analysis of variance profitability or social use of funds.

• STATEMENT OF THE PROBLEM

Nigeria has a very difficult economic situation some aspects of it are experiencing from disability of inflation rate where as other aspects are worse hit by deviating depression for our years now, the emphasis is on the restructuring of our economy. The international monetary fund (IMF) emerged with a difficult inter restructure measures (without regards to our socio-economic background) which were applied the area of our economist whoTHE IMPACT OF ACCOUNTING INFORMATION ON DECISION MAKING PROCESS

THE DEVELOPMENT OF ACCOUNTING PRINCIPLES AND STANDARDS (AN EMPIRICAL STUDY)

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

 

ABSTRACT

          The objective of this study is to access based on empirical research the exceptional qualities or otherwise of the present accounting principles and standards.

Information was drawn from both primary and secondary sources. The primary sources were held with members of institute of chartered accountants of Nigeria (ICAN) on the subject matters. During the time, question on the general field of accounting principles and development were asked. The rest of the information came from library sources.  The information collected was analysis using simple tabular diagrams, percentages, ratio and statistical tools chi-square. The result obtained from this study is that the present way of evolving accounting principles and standard from the beginning which dates back to 600BC has not been very helpful. The study also revealed the economic life of business differ significantly so that the purpose or aims of financial reports are not the same everywhere. All these have resulted to display in the financial report between accounts.

Although, it  is evident that a quest deal of success has been recorded by the accountancy, bodies worldwide, in standardizing existing standards. This project recommends that a standard based on contemporary problem and fashioned for the immediate or particular business environment be evolved. It is hoped that when the points mentioned above are fully implemented, the accountancy profession, especially in Nigeria which is currently being threatened by existing laws in the country, can effectively render those necessary committee it owes to the public it services. By way of reward for the this services, the future existences of the profession would be guaranteed as it would remain ever strong and reliable.`2

 

LIST OF TABLES

Table 1:       Statement of standard Accounting practice (SSAP)

Table 2        Reconciliation

Table 3        Questionnaire administrative and received

Table 4        The disclosure of Accounting Policies and information and the producers and users in the understanding and interpretation of financial statement and the making of economic decision (SAS) 1 and 2

Table 5        Does the use of several method for valuing and reporting stock, give rise to wide  differences in  total result of the operations of enterprises in the same line of business (SAS4)

Table 6        Will the accounting for employee retirement benefits help in determination of the amount due to employees before or after the date of implementation of plans (SAS8)

Table 7        Will the accounting for depreciation provide a guide for uniform and acceptable method of determining and reporting depreciation on items? (SAD9)

Table 8        Is there need for  review of the accounting principles and standards to reflect contemporary problem?

Table 9        The environment of the practice of accounting profession as presented by the companies and Allied matters decreed is a result of tact of trust in the professional accounting in Nigeria

Table 10      In your own opinion were the thirteen standard launched by the Nigeria Accounting standard board (NASB) actually developed by were they mere modification of UK SSAP”

Table 11      Is there need for a review of the accounting principles and standards to reflect contemporary problems?

Table 12      The encroachment of the practice of accounting profession as presented by the companies and allied matter decree is as a result of lack of trust in the professional competence of professional accountants in Nigeria.

Table 13.     Chi-Square table

Table14.      Chi-Square table.

 

TABLE OF CONTENTS

CHAPTER ONE

Introduction                                                                                           1

1.1     overview of study                                                                        1

• Statement of problem 5
• Objective of study 6
• Hypothesis of the research 7
• Significance of the study 8
• Limitation of the study 9
• Definition of terms 9

Reference                                                                                     12

CHAPTER TWO

Review of related literature                                                                    13

2.1     Historical development of accounting                                          13

2.1.1  The early financial accounting                                                     13

2.1.2  The venture accounting                                                               15

2.1.3  The joint stock company                                                              16

• Development of accounting principles and standards 18
• Recent revisions to accounting standards 23
• Foreign currency transaction and conversion 25
• Accounting for depreciation 26
• Accounting for lease and hire purchase 28

References                                                                                   31

CHAPTER THREE

Research methodology                                                                          33

3.1     sources of data                                                                             33

3.1.1  Primary data                                                                                          33

• Secondary data 33

• Population and sample size 34
• Methodology used 35

CHAPTER FOUR

Presentation and Analysis of Data                                                         38

• presentation and analysis of an empirical research into

the accounting principle and standards                                        38

• Testing of hypothesis 46

CHAPTER FIVE

Summary of Finding Recommendation and Conclusion                        62

5.1     Recommendation                                                                         64

5.2     Conclusion                                                                                  67

Bibliography                                                                                68

Questionnaire                                                                              71

CHAPTER ONE

 

1.1     OVERVIEW OF STUDY

The hall mark of a profession is its commitment to the public service.  The commitment can be classified into three.  Firstly, there must be satisfaction of the society being served, secondly there must be professional pride invite craft and thirdly the profession should be accorded recognition be fond its national boarders.

If we go down into memory, we discover that the need for better accounting principles and standards is a world wide phenomenon, for instance, Noel Hyndman and Robert kink (1989:20) said that one of the main reasons for the dearth of new standards and revisions of same is the fact that the accounting standard committee (ASC) like other standard setting bodies now begin to investigate accounting topics which are extremely controversial.  Invariably, most of the new standards involve significant adjustments to both the profit and loss account and the valuation of assets and liabilities in the balance sheet.

Again, Noel Hyndman and Robert kink (1989:42-44) on then part saw from every practical objective level, most countries have disconvered lack of clear statement of the aims and purpose of financial reporting as the major, short coming in the standard setting processes.  According to Hyndman and kink, and citing germany as an example, “financial statement are considered as one of the most important vehicles for communicating with people who have financial interest in business enterprises”.  The art of accounting in this circumstances unlike the (former) is to provide a reliable and relevant information to the interested parties.

Explaining his own reaction on the global effect of clear statement of the aims and purposes called, “in the united states for example, the stock market crashes of 1929 and 1969 which was blamed on financial report by companies first triggered the estblishment of  accounting standard in that country”. He went further to say that in the U.K, like Nigeria the establishment of accounting standard committee (ASC) by the six professional bodies were ignited by lack of uniform Nigerian situation was made worse by the Nigerian enterprises promotions decree which attempted to transfer ownership of companies to Nigeria”.  Foreighers exploited the lack of uniform accounting procedure in valuing their equity in corporations affected by the decree.  Practicing accountant is faced to go down memory lane once more, he may admit that the problem emanated from their evolvement of those principles and standards that date back to 600 B.C., when accounting as a practice came into being.  Ordinarily, he may resolve that all it takes to improve on the principles is a fough body of accounting standards.  But could these forestall the disasters in the accounting world most especially in our country?

Today, the disaster is becoming more real than apparent in Nigeria with the introduction of the secondary foreign exchange market (SFEM), the recent open market operation (OMD) and foreign exchange market (FEM).  According to Okpechi 91990:5) this system has brought in its wake a lot of pressures on management of companies to show profits in the fact of rapidly dwindling revenues.  Accounts are most likely going to be massaged and manipulated to show favourable result.  Once more, it is in this regard that accounting standards  of measurement and reporting and the need for more to be more responsive to developed principles assume greater importance.

If members of the profession feel that the present principles and standards have not altogether done much good, shall helplessly ching to them or find something that would be benefical to helping to achieve consistency between standard.  After all December 20^th century dictionary (1985:1022 AND 1261) pointed out the three major qualities of all principles and standard, it defined principles as “consistent regulation of behaviour accord go moral law” and standards as accepted authorities statement of adequacy required.  According to Oxford English Dictionary second edition volume xii (1991:499) principles is defined as a “general law or rule adopted or professed as a guide to action, a settled ground or basis of conduct or action, especially one consciously recognized and followed and standards as a definite level of excellence, attainment, wealth or the lay or a definite degree of any quality, viewed as a presaribed object of ondeavour or as a measure if what is adequate for some purpose.  Form the foregoing, one may deduce that principles or standard is consistency applied if it provides adequate treatment for items in question.  The adequacy assume its acceptability and the circle contnues here lies our problem.  The primary aim of this project, therefore is to find something we could expect would lead to a cutting back of alternative treatments in a longer term.  In the short come closer to which could be regarded as our yearning principles or philosophy.  Put simple a better account standard evolved to solve our immediate problems.  This standard is also expected to fit into the economic like of particular place in question

 

1.2               STATEMENT OF PROBLEM

          Okpechi statement presents one of the problems of this thesis.  I have been tempted many times, to dispel certain newspaper misconception about why the Nigerian accounting standard Board was established and how.  The standard developed so far are carbon copies of those produced elsewhere”…

(Okpechi 1990:2)

so, the first of the needs of this project is to see how accounting principles development based on our local problems instead of reinventing

PROBLEMS OF PERSONAL INCOME TAX GENERATION AND ADMINISTRATION IN ENUGU STATE (A CASE STUDY OF INTERNAL REVENUE ENUGU NORTH)

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

 

ABSTRACT

          This project work is carried out on problem of personal income tax generation and administration taxation can be simply defined as a compulsory contribution by individuals and organizations to a statutory Authority.  The merits of taxations are numerous for instance, it could be used for re-distribution of income or for stabilizing the economy.

In the recent past and till date it has not been easy to fully realized the objectives of taxation owing to the existence of inefficiency and ineffectiveness in the system of administration and collection of personal income tax in Enugu state.  This project problems of personal income tax Generation and Administration in Enugu State.  (A case study of internal Revenue Enugu – North) will highlight those problem militating against the attainment of the objective of taxation.

In carrying out this research work, questionnaires bad been used to collect data and simple percentage analysis was used to analyse the data collected.

Also this research work enabled me to observed whether inhabitants of Enugu North Local Government Area indulge so much in tax avoidance and tax evasion because they have not been sufficiently enlightened on the important and merits of taxation.

Finally the research work carried out helped the researcher to know if there is enough personnel needed for effective tax collection and administration.  The limitation of this study is monetary problem and time, there will be scarcity of accurate national statistics.

CHAPTER ONE:

Introduction                                                                                1

• Background of study 1
• Board of internal revenue Enugu 2
• Statement of the problem 8
• Objectives of the study 10
• Formulation of research hypothesis 11
• Delimitation / limitation of the study 13

CHAPTER TWO:

Literature Review                                                                        14

• Origin and importance of taxation in nigeria 14
• Importance of taxation in nigeria 18
• Qualities of good tax system 20
• Effects of taxation 25
• Personal income taxation (general criteria) 27
• Problems of personal income tax generation 34
• Problems of personal income tax administration 36

CHAPTER THREE:

Methodology                                                                               43

• Population 43
• Sample 44
• Instrument 45
• Validation of instrument 46
• Collection of data 46

CHAPTER FOUR

• Presentation and analysis of data collected 49

4.1     administration and collection of questionnaire                   49

• Analysis of questionnaire using the simple percentage 50

CHAPTER FIVE

• Summary and conclusion 59
• Recommendation 61

Bibliography                                                                      65

References                                                                         66

CHAPTER ONE

INTRODUCTION

• BACKGROUND OF STUDY

In all generation, the problems of personal income tax generation and administration continues to surface in one form or another in virtually every society, especially in this part of the world.  It is important to point out that the federal government has taken adequate steps to wards effective tax administration.

This failure on the part of the federal government is responsible for poor financial positions of both the state and local government.  Besides, this inadequate planning and absolute laws governing taxation, evaluation and collection is characterized by chaos.

This chaotic nature of the system can  be appreciated by political influence or interferences in the process of taxation during the civilian administration in the country which gave rise to untrained and inexperienced personal being entrusted with the work of collection and administration of personal income tax.

The important of these issues to tax administration in the developing countries like.  Nigeria, can be seen from the following extract fromtax administration in under developed countries. The tax administration finds himself working with a staff which is inefficient in experienced, and poorly paid.

 

• BOARD OF INTERNAL REVENUE ENUGU

The board of internal revenue Enugu was established to administer income tax in Enugu state just as there are in other states of the federation.

Income tax was first introduced in Nigeria in 1904 by late Lord Lugard.  The introduction of Native Revenue ordinance of 1927 was most difficult in the Eastern areas of the country, due mainly to abserice of recognized central Authority Resistance to this form of direct taxation in such that it leaf to riots notably in calabar, Owerri and the famous, Aba women Riot of 1929 which was so severe that it attracted a probe.  Beside, the Native Revenue ordinance were also Native direct taxation ordinance for the colony and the Native income tax ordinance.

These ordinance were late modified and incorporated into the Direct taxation ordinance No 29 of 1940, cap 54 and the income tax ordinance No 29 of 1943 respectively.

The direct taxation ordinance 1940 empowered native authorities to tax Africans in their areas of jurisdiction while the income tax ordinance 1943 was for the taxation of non-Africans in companies.  The two ordinances were the foundation of our modern taxation which necessitated establishment of board of internal revenue in each of the states of the federation which Enugu Board of internal Revenue is on of them.

BANK FAILURE AND ECONOMIC DEVELOPMENT IN NIGERIA A CRITICAL APPRAISAL

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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

Banks occupy the most strategic point in the financial system of the economy.  For a total of banks to between 1992 to 2002 a space of four years, means that somethings definitely is wrong.

Certain question have been asked.  Solutions proffered and prospects for the future explained but none of them seems to have solved the problem.

This study is not antagonistic of any other rather it is complementary.  Others works have been used here and duly acknowledged but everything is with an intent to find a lasting solution to the issue of bank failure.  The study was based upon data collected through information sifted from books, journals annuals, periodicals.  In conclusion it will be quite expedient to point out that the Nigerian economy is still under developed one and will take the astuteness of every singler Nigeria to get it out of the doldrums.

It is only when the economy become stable that we shall have a very stable banking environment where failures might not be entirely absent but reduced to rate.  The task is not only for the authorities.  Every one has as a role to play.

 

 

 

TABLE OF CONTENT

CHAPTER ONE

INTRODUCTION

• The background of the study
• Statement of the problem
• Objective of the study
• Significance of the study
• Limitations of the study
• Definition of term

 

CHAPTER TWO

LITERATURE REVIEW

• Genesis of Banking in Nigeria
• Similarities and differences among banks
• Role of bank in economic development
• The concept of bank failure
• Cause of bank failure
• Indices of bank failure
• Effect of bank failure

 

CHAPTER THREE

RECOMMENDATIONS AND CONCLUSION

• Recommendations
• Conclusion

Bibliography

 

CHAPTER ONE

INTRODUCTION

THE BACKGROUND OF THE STUDY

          Over the last couple of decades the Nigeria financial system has grown remarkable.  From the almost crude form it was characterized with in pre-colonial and colonial days.  It has become so sophisticated that economic experts today can proudly thump their chests.  With due regard to ownership structure of the institution, the regulatory framework, the instrument employed and number of established institutions, Nigeria can be said to posses the most sophisticated financial system in African.

Within the Nigerian financial system itself, the banking institutions have been most remarkable in growth.  This is just as well in any case considering the critical position which they occupy in a complex financial position which they occupy in a complex financial system which supplies the money and credit needs of the economy.

The world bank nor banker is nether used nor defined in the central of Nigeria (CBN) Decree No 24 of 1991 nor bank and other financial institutions Decree (BOFIO)No 25 of 1991 but section 2 of Bills of Exchange Act 1881 provides that “bankers include a body of persons whether incorporated or not who carry out the business of banking section 2 (1) of the Evidence Act defines banks banker to means “any person or persons, partinership or company carrying on the business of bankers.  Finally, the Banking Act of 1969, provides that bank means any perons who carries out the business of banking and include a commercial bank and an acceptance house.

The role of banks is thus an important one in the process of economic development in the sense that they mobilize funds from the surplus spending and for of the economy.  In this way the increase the quantum of National savings and investment.  Secondly though an appropriate investment multiplier, the volume of good and service produced increase a result of investment projects financed by bank funds.  All of which lead to a successful promotion of an efficient system of payment, creating banking habits, development the society and providing employment opportunities.

In view of these highlights, it becomes easily comprehensible why the failure of a bank of a bank has far reaching consequences.  The ability of banks to operate successfully rests upon how well the are able to obtain the confidence of the public if that confidence is missing, the gap will be too great for the banks to fill.  The effects of banks failure on the economic development of Nigeria can be expressed in an nut-shell to be the following.

1. Lack of effective and efficient financial intimidation
2. Loss of public confidence in the system further depression of the economy additional burden on the regulatory authorities Escalation of social vices.

For the sake of the citizenry and in the interest of economic development, there is an expedient need to devise a host of remedying situation.

The fact that a bank fails today is not to say that incidence is systemic.  There must be a number of wap out of any sad predicament.

The only crack is how well these remedies are fruitfully employed such remedies would include.

1. The cultivation of a stable political environment
2. The strengthening of rgualtory agencies
3. The taking over by regulatory bodies of all terminally distressed banks
4. Encouragement of banking education
5. Sincere pursuit by government of all economic and monetary polices.
6. All regulations pertaining capital adequacy, minimum paid up capital, liquidity ratio and asset quality should be reviewed in relation to inflation rate.
7. Privatization and commercialization of all government owned banks.
8. All debt owned bank by government (state, tederal and even partientals) should be paid back immediately.
9. All laws relating to bankruptcy and default should be reviewed and made more function.

An address like this will go a long way in remedying the situation and restoring public confidence in the system.

 

• STATEMENT OF THE PROBLEM

In light of the vital role which bank play in developing the national economy in their capacity as vectors of fund for savings, investment and employment opportunities it will be expedient to point out that Nigeria banking system in all its advancement and sophistication has not succeeded yet in effectively achieving this mission.  The reason is not just one of the fact some banks have failed, but that some.

Factors have co