THE ACCOUNTING SYSTEMS IN LOCAL GOVERNMENT

THE ACCOUNTING SYSTEMS IN LOCAL GOVERNMENT

A CASE STUDY OF OBINGWA LOCAL GOVERNMENT AREA ABIA STATE

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ABSTRACT

Various accounting system is being used by different organizations or firms to speculate and analyse their financial statue.

However, for an organization to know the system of accounting they will adopt depends on the kind of transaction/business or activities such organization engaged Nigeria my country. The problem of adopting a particular accounting system especially among the various local governments in the states, has always been taken into consideration to ensure good control and efficient management of government operation. To a reasonable and considerable extent. This has been achieved, but due to the complex system of our local government accounting, there has been some set back.

 

Against this background, this project is designed to point out the ways and systems through which the revenues and expenditures of local Governments are accounted for.

 

The accounting system of Obingwa Local Government Area will be used as a reference point to unravel this problems, and as well their solutions. Also, this project will identify the nature and purpose of L.G.A accounting and financial control.

 

Chapter one of this work is designed to show the introduction of the case study with the various reforms to its scope of operation.  It also term’s to consider the problems facing the local governments accounting system in Nigeria, chapter two of this research work attempts to explore in details the related literature on the topic, review of local government accounting system will regards to Obingwa L.G.A. Also, is the L.G.A system of accounting for capital expenditure, recurrent expenditure and stores.

 

Chapter three will tend to examine the research design, the sample and instrument of data collection and the method of analysis. These items are moreover most important because the validity of the study is relative to the ability of the researcher to reach those directly concerned with the problem of the research.

 

Chapter four is designed to analyse the responses of the respondents of Obingwa L.G.A workers at various levels.

 

Chapter five of this research work will tend to summarize, draw a conclusion and make recommendations that will adequately make effective impact in the maintenance of local government accounting system that will be devoid of any immaterial facts, so as to maintain a true financial position at any point in times.

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE

  • Introduction
  • Statement of the problem
  • Objectives of the study
  • Significance of the study
  • Methodology of research
  • Scope and limitation of the study
  • Statement of hypothesis

 

CHAPTER TWO

  • Review of related literature
  • Accounting system
  • Local government accounting system
  • Nature and purpose of local government accounting and financial control
  • Local government basis of accounting
  • Books of accounts and accounting records in local government systems.
  • Accounting for capital expenditure
  • Accounting for recurrent revenue
  • Stores accounting
  • Sumamry

CHAPTER THREE

Research methodology

  • Population of study]
  • Sample design
  • Sources of data

3.3.1  Secondary sources of data

  • Research instruments
  • Methods of data analysis

 

CHAPTER FOUR

Data Presentation and analysis

  • Questionnaire distribution & rate of return: Table 5.1
  • Classification of respondents
  • Section B: Capital receipt / expenditure
  • Section C: recurrent/expenditure
  • Section D: stores
  • Section E: General assessment
  • Testing of hypothesis

 

CHAPTER FIVE

Summary of findings and recommendation

  • Summary of finding
  • Recommendations
  • Recommendation for further studies
  • Conclusion

 

Bibliography

Appendix I

Appendix II

Appendix III

Appendix IV

 

CHAPTER ONE

INTRODUCTION

  • LOCAL GOVERNMENT IS THE THIRD TIER OF THE THREE TIERS OF GOVERNMENT

The nationwide local government reform launched with reference to the 1999 constitution gave birth to the making of local government a third tier of government. However, the 1999 constitution gave it a fulk legal recognition and ever since then, it has enhanced the grass-root participation at local government and thus enlarged the responsibilities and roles of local government authorities.

 

The local government council as spent out in the fourth schedule of the 1999 constitution of the federal republic of Nigeria section 7 has the following as its functions

  1. The economic development of the state particularly in so far as the affairs of the council and the state are affected and proposals made by the said commission or body.
  2. Collection of rates, radio and television license
  3. Establishment and maintenance of centuries burial grounds and homes for the destination or firm.
  4. Licensing of bicycle, trucks (other than mechanically propelled trucks), canoes, wheel barrows and cars.
  5. Establishment maintenance and regulation of slaughter houses, slaughter slabs, markets, motor parks and public places.
  6. Construction and maintenance of roads, streets lighting drains and other public highways, parks, gardens, open spaces or such public facilities as may be prescribed by the state assembly.
  7. Naming of roads and streets and numbering of house.
  8. Provision and maintenance of public convenience sewages and refuse disposal.
  9. Registration of all births, deaths and marriages.
  10. Assessment of privately owned housed or tenants for the purpose of leaving such rates as may be prescribed by the house of assembly of a state.
  11. Control and regulation of:
    1. Out-door advertising and hoarding
    2. Movement and keeping of pets of all description.
  • Shops and Kiosks
  1. Restaurants, bakeries are the place fore food sales to the public.
  2. Licensing and
  3. Licensing, regulation and control of seller f liquor.
  4. The function of a local government shall include the participation of such council in the government of a state as respect to the following matters:

 

  1. The provision and maintenance of primary, adult and vocational education.
  2. The development of Agriculture and national resources other than the exploitation of minerals.
  3. The provision and maintenance of health services, and
  4. Such other functions as may be conferred on a local government council by the house of assembly of the state.
  5. The attainment of creating local government will be reached which is to bring socio-economic development of the local government populance. Proper accounting system should be installed to take care of both the existing and newly created revenue basis. Such accounting system should be capable of ensuring local government revenues and expenditures are well kept.

 

1.2     STATEMENT OF THE PROBLEM

first, with reference to Obingwa local government, the main problem of this study is to examine the weakness and limitations that may exist in the accounting system of local governments in Nigeria. Manu scholars have criticized Nigeria local government accounting system following the inherent weakness in the system thus requiring a study of this nature to critically assess these weakness and highlight their attendant implications on financial statements of local governments in Nigeria.

 

Secondary, there has been a problem presently a financial statement that could reflect the true and fair view of the financial position of the Nigerian local government.

 

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