A CRITICAL EVALUATION OF NIGERIA LOCAL GOVERNMENT ACCOUNTING SYSTEM AND FINANCIAL REPORTING (A CASE STUDY OF AGUATA LOCAL GOVERNMENT)

This study designed to review overall financial reporting pattern and accounting basis prevalent in our local government make proper practical suggestion to improve the quality of financial reporting. Five research questions and two hypotheses were employed. Local government accounting and financial reporting aimed at providing an effective and efficient system to safe guarded the resources entrusted on them obvious problem of the topics of the study includes- lack qualified accounting personnel inadequacy of the basis of accounting and financial reporting prevalent in our local government aroused the interest of the researcher to make an in-depth and explanatory study as to find the solution and make recommendation. The statistical tools used to analyze the data are simple percentages and chi-square .It was find that Aguata L.G.A have encountered some problems in the preparation of their accounting ,the financial statement does not show the financial position of the organization properly .From the oral interviews, discussion and interaction  it shows that a lot of need to be done on the part of Aguata L.G.A to educate their staff and other local government on the benefit  of booking proper books of account and financial statement with relevant regulation .It was therefore recommended that employing professional qualified accountant prepare the account of local government .Employing depreciation and accrual accounting to improve the quality of report and enriching the annual report by adding new financial activities .Boarding the constituency of local government distribution of their reporting system .The local government accounting and financial reporting should  be audited every year.  

 

Abstract

Literature Review

Research Methodology

CHAPTER FOUR 

Data Presentation and Analysis

 

Summary, Conclusion, and Recommendation