ABSTRACT
In order to successfully
accomplish the purpose for this research study, on the role of the Nigeria
accountant question were formulated and a questionnaire comprising statement
drawn from the research questions were prepared as well from the following problems
are be setting public sector. Appointment of unqualified accountants to act as
account supervisor, negative attitude of most accountants to wards account
ability resulting to inadequate keeping of financial and accounting records are
stipulated by the financial regulations and treasuring circulars.
Accounting in the Nigeria public sector, problem and prospects is the project
topic and a case study of selected government establishment in PHCN, the
research involve five (5) chapters.
In chapter, it entails the introduction/ background of study, statement of
problem, purpose of the study, significance of study, scope and limitation of
the study and research question.
Chapter two involved the literature review, who is an accountant, accountant is
defined, book-keeping and account differentiated, government accounting
defined, objectives of accounting in the public sector, legal basis, the nature
of Nigeria public sector accounting government and some identified problems of
the Nigeria public sector accounting.
Chapter four, involved
data analysis, data presentation of demographic characteristics, assessment of
accounting system of the public sector, testing of research questions and major
findings.
Chapter five, involved
the summary, recommendation and conclusion more so suggestion for the area of
further research.
The research various
recommendations as remedies if fully implemented, will enhance government
accounting system and records and ensure prudence in the conduct of government financial
transaction.
TABLE OF CONTENTS
CHAPTER ONE
1.1 Introduction/Background of Study
1.2 Statement of Problem
1.3 Purpose of
Study
1.4 Significance of
Study
1.5 Limitation of Study
CHAPTER TWO
Literature Review
2.1
Who is an Accountant?
2.2
Accounting Defined
2.3
Books-Keeping and Account Differentiated
2.4
Government Accounting
Defined
2.5
Objective of Accounting in the Public Sector
2.6
Legal Basis
2.7
The Nature of Nigerian Public Sector
2.8
The Scope of Public Sector Accounting
2.9
Government and Commercial
Accounting Compared
2.10 Some
Identified Problem of the Nigeria
Public Sector Accounting
CHAPTER THREE
3.0
Research Methodology
3.1
Source of Data
3.2
Location of
Data
3.3
Method of Data Collection
CHAPTER FOUR
4.1
Findings
4.2
Recommendation
4.3
Conclusion
Bibliography
Appendix
CHAPTER
ONE
1.1
INTRODUCTION/BACKGROUND
Accounting has often
been described as the language of business and accounting profession as the
back bone of organization. This is because accounting besides duties plays the
role of custodian of the finances of such organization and also serves as the vehicle
for employing these funds in such ventures as to promote survival and growth.
But accounting is
a dynamic profession. Like language it is not static it grows, embracing
additional roles in its development trail. The accounting profession, as it
affects the public sector of the economy, provides figures and information on
the past performance of this sector for planning for the future. Government
budgets depend on information supplied through accounting. It is a thing
of joy that an accounting body in Nigerian, the institute of chartered
accountant s of Nigerian (ICAN), and the association of National, Accountants
of Nigerian (ANAN), has lately accredited two institutions as recognized
training centre for the purpose of training accountants solely for the public
sector.
Today a new scheme, the
accounting technicians scheme (ATS). The Nigerian college of accounting,
Joy has been designed to train and develop the manpower required for the public
sector. However, laudable as this innovation is the content of the is the ATS
is grossly inadequate to turn out the required manpower for the public sector.
The truth is that the curriculum for government accounting is yet to be fully
developed and integrated into the accountancy programmes of our institutions. Beside,
there is a great dealt of textbook on government accounting in the country,
which almost makes the ATS NON-starter.
These are problems that
must be promptly tackled.
The government treasury
schools has provide the public sector accountant the technical skill, but
awards no certificates. As a result of various development over the years, the
complex system of federal, STATE AND LOCAL GOVERNMENT departments and training
organizations as well as various public sector organisations, operating at
national, state and local level.
These organisations,
which are non-proprietary in nature provides goods and services, , which are
often decided no political and collective basis of what is thought to be needed
or signals.
Government establishment
are set up to provides social goods and services for public welfare, since this
establishment finances their activities principally from governments sub
venture which are derived directly and indirectly from governments various
sources of revenue (such as fees, charges, central or local taxation and
borrowing ), the need for a good book-keeping and accounting system, together
with proper accountability for public funds at the operations disposed cannot
be over emphasized. The problems often encountered by operators of government
establishment in maintaining a good accounting system with a view of enhancing
accountability and the prospect accounting in these establishment is the object
of this research work.
1.2
STATEMENT OF PROBLEM
It is worthy to note
that accounting information often sufferer a lots of distortion due to clerical
technical and non-professional errors consequently.
Most operators or
practitioners of accounting information desired for management decisions.
Although, these problems are common to the private and public sector suffer
more. Among the problems common to the government accounting unit are
(a) Delay
in receiving reports from out stations which subsequently delay the preparation
of financial report.
(b) Delay in presentation and preparation of annual
financial statement
(c) Actual values of expenditures are not reported
due to tack of technical skills amongst most of the accountants in the various
sub-sectors
(d) Untimely reconciliation accounts
(e) Inconsistency in government accounting system
and circum venations of government accounting regulations and procedures is
also making comparism and evaluations difficult for planning
(f) Using untrained personnel to do the accounting work.
(g) Irregular balancing of books of accounts
(h) Lack of proper and suitable accounting systems.
(i) Inefficiency of accounting and internal audits.
(j) Ineffective control systems.
(k) Negative attitude of government functionaries
towards accountability
1.3
PURPOSE OF THE STUDY
Certain objective have
informed the choice of this study. The purpose of the study include:
1. To
establish the effectiveness of the existing systems of accounting of government
unit.
2. To
appraise the system and ascertain their suitability
3. To
identify and analysis the problems associated with the system of accounting
adopted by these organisations, examine their root causes and based on the
outcome of the analysis draw conclusion
4. To
undertake a prospective view of government accounting need and identify
possible improvement development of its application by the public sector
1.4
SIGNIFICANCE OF STUDY
Having identified and analyzed the problems and
prospect of accounting in the public sector accompanied by the desired
recommendation to remedy these problems so as to pave a way for improved
quality of accounting information prepared and presented by government
accounting personnel or practitioners, it is hoped that this project work will
enhanced decisions making of users of such accounting information. To this end,
it is felt that the following group of users would benefit from this projects
1. Staff
and practitioners of government accounting who would find the information in
improving their job.
2. It
will serve as a reference material to accounting students, lectures and
researchers who might lay their hands on a copy in the library for academic and
research purposes in the futures.
3. Moreover,
the success of this work could be of immense benefit to the operations of
government establishment whose financial information need for decision making
purpose in very paramount
4. Finally,
the general public also stands to benefit from this work in a various
ways.
Department | Banking and Finance |
Project ID Code | BFN0263 |
Chapters | 5 Chapters |
No of Pages | 63 pages |
Methodology | Descriptive |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |