INTRODUCTION Auditing is the process of investigating into the financial records prepared in an organization to ascertain the correctness of the financial statement. Investigation can be described as an inquiry commissioned by a client for some of his purposes. The preparation of the accounts of small scale industries involves the bringing together of the control system.The idea of auditing came into being when a series of company acts. Announcing in 1844 gradually developed and incorpor...
1.0 INTRODUCTIONThe question of how to increase the usefulness and positive result in audit work in Nigeria companies has been bothersome to the generality of the people in the country.Formally, industries or establishments were small and could be controlled by the management expansion of these industries or establishments, coupled with the increase in the scope of managements, functions required to cope with the situation, management could not co-ordinate all activities alone.Finally, ...
1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDYVAT as a system of revenue generation has been in existence in Nigeria since January 1st 1994. It has recorded remarkable increase in revenue generation for the nation and has been shown by numerous researches to be more effective than the sale tax in revenue generation.VAT, however, has not achieved all its objectives especially in the University of the Tax. While almost every one buys vatable goods, a lot of institutions, persons and vatable ...
ABSTRACTIt is often heard that some companies tries to manipulate their financial statement to avoid paying tax or even when they say it is lesser than they supposed to have paid, deposit the tax incentive given to them and that make the researcher to look in depth to find out the effect of this tax incentives offered to private investors and its impact in the industrial development at the entire nation. How far has the tax incentive helped to redirect the investment pattern in Nigeria? It is...
ABSTRACTGovernment owned establishments in which hotel business is one, are no longer booming in the nation’s competitive economy due to improper accounting system existing therein; as a result of non-challant attitude of its staff.Accounting which is the foundation of every business has been of age in the society. This project work has three chapters:Chapter one is the introduction which gives hints on accounting standards and means of achieving management objectives. Chapter t...
1.0 INTRODUCTIONThe need to develop micro economic activities that could enhance self-reliance as a strategy for reducing poverty becomes so pronounced that the three arms of government (Federal, state and local government) come up with various initiatives. Among these were programs and policies that aimed at:- Stimulating economics growth through the engagement, of semi-skilled and unskilled labour in production activities- Immediate reduction of social vices and tension in the society...
ABSTRACTThe accountants the business and the economy are inseparable. They are mostly needed in resolving various conflicting investment decision, initiating and co-ordinating meaning of economic development and growth. In Nigeria, this function has largely been restricted to the reporting role, book-keeping accounting and auditing.This research project is thus a search part for what the role of the accountant, has been and what it should be in enhancing economic development in the area of co...
ABSTRACTCapital equipment procurement simply means the purchase of longer lasting machinery.Therefore, in this work, the research is concerned with purchasing role in capital equipment procurement in motor assembling plant Enugu. The brief history of the organization, the problem they encountered in the purchase are enumerated in this work and also finding and recommendations. The main purpose of this project is to enable the researchers meet the award of the Ordinary National (OND) in the de...
1.0 INTRODUCTIONAny organization, manufacturing or non-manufacturing that knows its owns requires an effective accounting system for its continuous existence. We have in the post head of firms that folded up due to one reason or the other. When properly investigated as to what brought about its folding up, one may not be surprised that it was due to negligence in operating an affective accounting system.Every manufacturing / non-manufacturing industry needs an effective proper acc...
ABSTRACTThe title of this research work is, problems and prospects of local government finance/accounting in Nigeria” with particular reference to Nsukka Local Government Area, Enugu State. It has been identified that accounting and financial reporting in the public sector particularly at the local government level was not given adequate attention.In the course of carrying out this study, the following objectives among others were set which included. The identification of major ...
1.0 RESEARCH BACKGROUND 1.1 INTRODUCTION The term “fund accounting” is as old as the world itself. The origin of fund accounting could be traced to the parable of talents in the holy Bible (Mathew 25: 14-30) about a man who delivered his goods to three of his servants and traveled to a far country two of them traded with their and made profits while the third went and buried his in the ground. When the time for accounting for the fund came they all rendered th...
ABSTRACT Accounting can be defined as the recording summarizing analyzing and interpretation of an organization.Accounting system is a set of rules regulations and procedures which are articulated by a appropriate theoretical force into a system. Ti process data into information which are required as input in the decision making system of the organization.Based on these definitions accounting of public sector involves activities of collecting analyzing recoding summarizing reporting and ...
INTRODUCTIONResponsibility accounting is the third type of management accounting information. It is called by that name because the accounting information is structured according to organization units, which are responsibility centers. Responsibility accounting collects and reports information that is used in an important management function and management control.RESPONSIBILITY ACCOUNTINGDEFINITIONAn information system designed to a measure the performance of that segment of a bu...
ABSTRACTFinancial planning and control is important in an organization in the sense that it ensures proper planning and implementation of cash flow in the organization. Financial planning and control also discover fraud and irregularities of financials.In recent time, financial planning and control have been overviewed and emphasized by most organization. Consequently, fraud, loss, theft of cash and material are of increase with case of financial planning and control weakness in t...
INTRODUCTION1.1 BACKGROUND OF THE STUDYWorking capital management involves not only the management of current assets but also the management of current liabilities and the relationship between the two. Time is the feature of all items making up working capital.Working capital describes the assets and liabilities of a business that are related directly to its trading activities. Some of them are held to enable the business to function, such as debtors and creditors. They are ...