Our Archives

Call 08068929770 or 08122972656 for any enquiries.

Project Topic:

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

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 52 ::   Attributes: Data Analysis
::   187 people found this useful

Project Body:

CHAPTER ONE

  1. 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. The study will make use of federal ministry of labour and productivity as the case study

1.2 THE HISTORICAL DEVELOPMENT OF FEDERAL MINISTRY OF LABOUR

The Federal Ministry of Labor and Productivity has been in existence (with different names) since 1939, with the central purpose of ensuring cordial relations between workers and employers in the public and private sectors. The body was created after the start of World War II to coordinate resources for war efforts, with first one and then two Labor Inspectors attached to the Governor’s Office. With growing worker agitation over cost Of living allowances, the Department of Labor was established on 1 October 1942. It was headed by a Commissioner and two Labor Officers, and was charged with dealing with labor movement issues, ensuring the orderly development of Industrial Relations and enforcing protective legislations. The organization grew as the war progressed, with offices opened in the industrial centers of Enugu, Kaduna and Lagos. Later a Ministry of Labor was created in addition to the Department of Labor, and the two were merged on 1 April 1958. After Independence in 1960, the Ministry has grown steadily, renamed the Federal Ministry of Employment Labor and Productivity in 1979 and the Ministry of Labor in January 2007.

ORGANISATION OF FEDERAL MINISTRY OF LABOUR

The outward-facing divisions the Ministry of Labour are Trade Union Services and Industrial Relations; Employment and Wages and Inspectorate. The Trade Union Services Division formulates policies on trade union organizations and manages disputes and complaints. It also assists in worker’s education, and keeps records on trade unions and their activities. Internally oriented departments are Human Resources; Finance and Supplies; Policy, Analysis, Research & Statistics.

The Ministry is responsible for several parastatals (government-owned agencies): Michael Imoudu National Institute For Labour Studies (MINILS), Nigerian Social Insurance Trust Fund (NSITF), National Directorate of Employment (NDE), National Productivity Center (NPC), National Industrial Court and Industrial Arbitration Panel (IAP)

 

  1.  STATEMENT OF PROBLEM

Obviously, every private and public enterprises in Nigeria has their accounting department.  And there are increasing cases of financial mismanagement in virtually all the public and private organization in Nigeria.  The problem of this study lies on how the managers of these enterprises are able to recognize the role of accounting in their enterprises so that these cases of improper accountability will be minimized or if possible its total eradication in our society

  1. PURPOSE OF STUDY

These studies include investigating the role of accounting in the control of public enterprises in Nigeria.  The purpose of this study include among other others.

  1. To determine the extent to which accounting is generally affects the economic activities of the public section in Nigeria
  2. To examine how managers adequately and efficiently apply the role of accounting in their organizations.
  3. To disseminate certain factors that affects the accounting departments of most organizations which makes them not to function as expected
  4. To determine government policies which aid to promote accounting in all public enterprises in Nigeria.
    1. RESEARCH QUESTIONS
  1. To what extent do accounting records generally affect the economic activities of public enterprises?
  2.  Do managers adequately and efficiently apply the role of accounting in their organization?
  3. What are the factors that have negative effect on accounting departments of most organizations which make them not to function effectively as expected?
  4. What are those government policies which aid to promote accounting in Nigerian public enterprises?
    1. SIGNIFICANCE OF THE STUDY

In this study, the researchers have set out to examine the role of accounting in the public sectors in this country.  Nigeria with the aid of highlighting the inherent problem encountered in the account departments of most organizations.  It is expected that this work will be of interest to the owners of business enterprises, the government, students and the general public.

To shareholder, owners of enterprises, interested persons and the governments, this study is expected to enkindle their interest the more and they will take note of various recommendations mentioned here and help steer the management team towards forming a sundry organizations to present accurate financial information on their firm.  This study will also help to serve as literature to individual or corporate bodies who want to carry on further research on the role of accounting in the public sectors in Nigeria.

 

  1. SCOPE AND LIMITATION OF THE STUDY

Scope  of the study shows extent of coverage done in the study.  The research topic suggest a study on the role of accounting in the public enterprises in Nigeria.  The focus of the study is on federal ministry of labour and productivity of Nigeria.  I take this to be a fair representative of Nigerian public enterprises that is either avoidable or hand to come by

There are factors as constraints that are normally follows this research work, some of them are

  1. TIME: this which was a major problem was adequate not

managed by the researcher.  There was not enough time for the researcher to get the project topic, get it approved and within a short time we will be talking about our exams assignment and quiz.

  1. LACK OF MATERIALS: the unco-operative of most

people working in the library and other offices where the researcher needed to get materials posed great problem to the researcher.  Some  of the staff do not feel safe letting have access to some materials while other will change you more than double the cost of Photostat before one can get what he wants.

3.         FINANCE:  Before now our project use to be a joint project of a group of four-ten people but now it has to be on individual student. So  finance hinder the projects in one way or the other. Either by transportation to where to get the materials or where to obtain the necessary information.

  1. DEFINITIONS OF TERMS

MANAGEMENT: Its function centre on decision for planning and guiding the operation that is going on in the enterprises.

ACCOUNTING: accounting is the act of recording, classifying and summarizing in a significant manner and in terms of money, events and transactions which are in part at least financial character and interpreting the result thereof.

FINANCIAL STATEMENT: These are accounting reports issued by a business to described its financial  affairs and resuslts of the operations.  The financial statements are the end product of the general financial accounting activity.

Project Department:

MORE ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS


Get The Complete Project »

Instantly Share this Project On Social Media:

CLOSELY RELATED ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Secondary data, Data Analysis,Abstract  ::   619 engagements

CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »

A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   447 engagements

ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   296 engagements

HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »

APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   307 engagements

2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »

ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 69 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   291 engagements

ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »

ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 86 ::   Attributes: Questionnaire, Data Analysis  ::   258 engagements

THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Rita Eze from abia state university said "thank you so much for your sincerity; i will tell my friends about you guys.".
    Rating: Very Good
  • 2. JULIET from UNIMAID said "I THANK YOU GUYS FOR BEING HONEST.....I WILL TELL MY FRIENDS ABOUT YOU GUYS. THANKX SO MUCH".
    Rating: Excellent
  • 3. Lilian Terdoo from BSU said "i have nothing to say but thanx for being honest. i appreciate u guys...".
    Rating: Very Good
  • 4. Demien Johnson from UNN said "Uniprojectmaterials is a blessing to researchers. my job was eased up by you guys. your jobs have good quality and was delivered on time to me. Thanks a million times".
    Rating: Very Good
  • 5. Patience from unilag said "i was having difficulties handling my dissertation of 12000 words. until i stumbled on uniprojectmaterials, my work was ready in three days with high quality write up and excellent data analysis, i will tell all my friends about u guys. Mr Donald is a very nice person, he should be in charge of the phone. he attended to me very well. God bless. ".
    Rating: Excellent
  • 6. James Ike from College of Education, Gindiri said "Great delivery. Una dey try wella!!!".
    Rating: Excellent

Paper Information

Format:ms word
Chapter:1-5
Pages:52
Attribute:Data Analysis
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives