THE EFFECTS OF MANAGEMENT OF ACCOUNTS RECEIVABLES ON THE PERFORMANCE OF PUBLIC CORPORATIONS

(A CASE STUDY OF NEPA)

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

ABSTRACT

          This research titled, ‘the effects of he management of accounts receivables on the performance of public corporation” was aimed at finding out all the factors that affect the level of receivable of public corporation reasons behind the huge amount of debts being owed this corporation and most importantly how the combine effects of these factors affect their performances generally.

This in line with the reasoning that the issue of the receivables and the problems usually arising from its poor management does not in any way exclude public corporation since most of them as well provide services on credit.

The research itself was designed to be descriptive, consequently, the survey research approach was adopted. Based on this public corporation the National Electric Power Authority (NEPA) were randomly selected as the sample. The sample size consisted of two hundred and ninety persons chosen from the three hundred customers to whom questionnaire were administered and also one hundred and twelve persons chosen from the one hundred and twenty employees of the sample co-operation to whom questionnaires were administered also in addition two different sets of questionnaire were designed for this study. While one as administered to the customers of the sample corporation, the other was administered to the employees.

Subsequently, information collected wee analysed using tables and simple percentage. Additionally, the chi-square dist and co-efficient of correlation were used in testing the hypothesis formulated in order to prove or disprove them after which the findings from the study were summarized and conclusions drawn from them.

The study showed that such factors as, the rates being charged for this corporations’ services the billing system the general economic situation in the country and the working conditions of the staff are some of the factors that influence receivables of public corporation. It was further discovered that inefficient management of receivables by public corporation directly and indirectly lead to such problems as illiquidity, irregular payment of workers salaries and other entitlements, employees less of motivation and high labour turnover all of which affects the per of public corporation negatively.

However, in view of the findings made from the study and conclusion drawn there from that how public corporation manage their receivables grossly affect their performance either directly or indirectly in the forms mentioned above, some recommendations were made in chapter five of this report and it is hoped that these recommendations are adhere to, there will be significant and justifiable improvements directly on their performances most especially in Enugu district and then the nation as a whole.

 

 

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

• Background of the study 1
• Statement of the problem 3
• Purpose of the study 5
• Significance of the study 6
• Formulation of hypothesis 7
• Scope and limitations of the study 8
• Definition of terms 9
• Information of the case studies. 11
• Brief historical background of NEPA 11
• Brief historical background of water corporation 11

 

CHAPTER TWO: LITERATURE REVIEW

• The concept of accounts receivable 14
• Observation of accounts receivable 17

 

CHAPTER THREE: RESEARCH METHODOLOGY

• Research design 27
• Description of population 28
• Method of data collection 28
• Sample size 29
  • Administration and retrieval questionnaire 29
• Description of questionnaire 31
• Method of data analysis 32
• Method of testing hypothesis 32

 

 

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

• Objective one 33
• Objective two 41
• Objective three 45
• Test of hypothesis 49
  • Test of hypothesis one 50
  • Test of hypothesis two 53
  • Test of hypothesis three 55

 

CHAPTER FIVE: SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION

• Summary of findings 60
• Recommendations 63
• Conclusion 65

BIBLIOGRAPHY                                                                       68

Appendices

Questionnaire for NEPA and Water corporations customers 72

Questionnaire for Water corporations staff                        73

CHAPTER ONE

• BACKGROUND OF THE STUDY

Ordinary, the significance of granting trade credit by firms and organisations in current day activities in Nigeria cannot be over-stressed. This is because trade credit acts as an indispensable marketing device providing the easier ‘bridge’ through which goods and services are conveyed from the producers through the wholesaler and retailers to the consumers.

This granting of credit to customers through mostly used by commercial/private enterprise is in no way restricted to them alone as it is also used extensively by public corporations of these public corporations in National Electric Power Authority (NEPA), the Nigeria Telecommunications Plc (NITEL),  Water corporation etc. The reasons these public corporations also grant credit to their customers are not too far to fetch, the first being that it gives them the advantages of billing their customers for services provided to them based on actual consumption rather than on mere estimates. The import of this is corporations are saved the trouble of petitions, protest and even legal actions that would have taken much of their time and money too.

The second reason being for these public corporations to take full advantages of the economics of scale since for them to have insisted on cash payment the point of consumption would have been undisputedly led to avoidable lower sales being recorded.

Also, insisting on cash-based transactions would have amounted to putting themselves at a very disadvantages position as they would have lost most of their customers to other competitors or even to substitutes being produced in large quantities all over the country. National Electric Power Authority (NEPA) for instance, people would have gone for generators, rechargeable laterns lamp etc in place of service provided by NEPA.

These in no doubt would have led to diseconomies of scale and its apparently consideration of all these that most public corporations in Nigeria seem to have consistently over-looked  or even ignored adopting payment on cash basis as the solution to their numerous financial problems as being touted by some people.

However there is a problem usually associated with trade credit and that is, how to management it to avoid creating problems for the business vis-à-vis its per. For instance, from the financial reports of public corporation like NEPA, it could be virility be seen that receivables make up a larger portion of their current asset figure and this not without its attendant problem recovery risk. NEPA for instance has recently been battling with the over increasing debt (over N5b) owed to it by various calibers of consumers nationwide.

These have been the bane that public corporations especially NEPA in their quest to provide qualitative and unbearable service to entire populace and hence, the need to appraise their performances vis-a-vis the management of their book debts.

 

• STATEMENT OF THE PROBLEM

Long over the years, there has been a general and widespread agitation by the Nigerian populace for efficient performance by public corporations most especially those of them that have a direct and equally noticeable impact on their lives like the National Electric Power Authority, (NEPA). Agreed that this corporation have to provide essential service even on credit basis to the citizenry just to make up, it is disheartening to note that it has instead ended up accumulating a huge amount of debt apparently more huge than it could management effectively.

For instance, NEPA alone is being owed to the turnover N5b as reported in the fourth page of business

THE SOURCES OF REVENUE AND BUDGETING IN LOCAL GOVERNMENTS.

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

 

• INTRODUCTION
  • BACKGROUND OF THE STUDY
  • STATEMENT OF PROBLEM
  • PURPOSE OF THE STUDY
  • SIGNIFICANCE OF THE STUDY
  • DEFINITION OF TERMS

CHAPTER TWO

• CONCEPT OF REVIEW ALLOCATION
  • LOCAL GOVERNMENT SOURCES OF REVENUE
  • LOCAL GOVERNMENT BUDGET
  • REQUIREMENT FOR LOCAL GOVERNMENT BUDGET
  • LITERATURE REVIEW

 

CHAPTER THREE

• SUMMARY OF FINDINS
  • CONCLUSION
  • RECOMMENDATION
  • BIBLIOGRAPHY

 

 

 

 

 

 

 

 

 

 

CHAPTER ONE

• INTRODUCTION
  • BACKGROUND OF THE STUDY

As the need for development in every part of a sovereign nation arose, it became important a device a means through which the source of development will reach to every part in question.

The local government concept holds that the key to challenge all other developed areas and achieving a general goal concept of ability to give everybody in a given country, allocations according to what the person needs most. The local government is a tier of the government which gives room for the interest of people who live in local and remote areas.

The source of revenue and budget planning in local government start with a well defined administration in government, especially in federal and state government, which with the inclusion of the local government, make up the three tires of government.

By revenue and allocation and budgeting in local governments, the inhabitants needs are defined and planned for. This means that does inhabitants are also regarded as bona fide citizens and domiciles of the country, especially as it relate to the village where literate ones are in minority. The aim of creation of local government is to delight the citizens of the country. In fact, this is a higher standard an may be the secret of great politicians, all things being equal.

Coordinated political answers, that all the various government functions like, meaning of roads, licensing bicycles and wheel barrows, primary school building and so on are properly integrated and well coordinated with other tiers of the government[federal and state].

The most profitable aims of local government is to ensure that the allocations that is due for any local government is received and well budgeted so as to avoid lot of regrets in the expenditure in cured.

Several authors have started the need of local government revenue allocation and budget planning according to the way each author sees it, but most importantly, the different views of the author boils down to have the same meaning; increase in literacy terms, ensuring to good health and well being of people ant most importantly, expansion of development.

From what have been seen or read today, not every local government adopt the issue of revenue and budget planning.

Since development is a vital requirement of local government, it is conventional to regard it as a first purpose of a country especially in Nigeria. for we all know that it is possible to create many local government without a profit for a time, but it is not possible for it to survive for one day with out proper care by the federal and state government.

The local government allocation and budget planning in Nigeria can be traced back to less than 100 years ago. The activity of the transitional cooperation, the financial transaction of local government, the creation of the eastern, western, northern part of the country by the colonial men, all those required an institution of the form of revenue allocation and budget planning.

In the past the revenue allocation and budget planning is done by the federal government of Nigeria. This was very difficult because the need of those in remote areas are not well ascertained; therefore the problem continue to linger. Because of this fact, the federal government decided to split the major state of the country into other smaller states who have something in common so as to find it easier to determine how to place allocation

EFFECTIVE DEVELOPMENT OF THE NIGERIA CAPITAL MARKET AS A PRE-REQUISITE FOR SUCCESSFUL IMPLEMENTATION OF THE NATION’S INVESTMENT PROGRAM

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

 

ABSTRACT

Paper examines various theoretical views about the role Nigeria capital market can play in the economy with a view to showing that the effective development of the market holds sway for the successful economic and emancipation of Nigerian in the emerging 21^st century special emphasis has been place on the of Nigerian capital market in the economic development of Nigerian acting to provide a means of raising finance to assist companies to expand and modernize, providing a means of allocating the nation’s physical and companies and serving as a measured of confidence in the economy and as an important economic barometer.

The main argument here is that effective establishment of a stock exchange will definitely serve as a pre-requisite for successful implementation of Nigeria. Investment program in the 21^st century. Paper further argues that since in modern economies like Nigeria, the bulk of productive activities and services been usually undertaken by joint stock. Joint stock firms or public institutions [including government] that the importance of stock exchange lies in its being a meeting place for investors and borrowers. It conclude this argument by stating that it is  at this market that stock and shares are bought and sold and since the price of such stocks and shares may rise and fall the stock exchange acts as a thermometer that pulse the economy or the outlook of business the extents of confidence in various shares or industries.

Finally, paper looked at the capital market in the context of structural adjustment program [SAP] and the emerging democratic era and conclude than a careful and judicious exercise of the powers of stimulation and control by the relevant regulatory authorities will lead to the achievement of a buoyant and resilient capital market that can better play its role of mobilizing capital for productive use.

 

 

                          TABLE OF CONTENT

CHAPTER ONE

1.0     INTRODUCTION                                            1

• THE BACK GROUND OF THE STUDY 1
• STATEMENT OF PROBLEM 2
• THE OBJECTIVE OF THE STUDY 3
• SIGNIFICANT OF THE STUDY 4
• DEFINITION OF TERMS 4

CHAPTER TWO

• FUNCTION OF THE CAPITAL MARKET 5
• THE ROLE OF NIGERIA CAPITAL MARKET 7

2.3      THE ESTABLISHMENT OF STOCK EXCHANGE 8

2.4      HOW NIGERIAN CAPITAL MARKET  AIDS BUSINESS9

• UNDERDEVELOPMENT OF NIGERIAN 17
• DEPTH OF THE MARKET 18
• EFFECTIVES IN CAPITAL FORMATION 18
• STRUCTURE OF THE MARKET 19
• THE ROLE OF THE CAPITAL MARKET IN THE

CONTEXT OF THE STRUCTURAL ADJUSTMENT 20

PROGRAM

CHAPTER THREE

• CONCLUSION 25
• BIBLIOGRAPHY 26

 

 

 

CHAPTER ONE

• INTRODUCTION
  • THE BACK GROUND OF THE STUDY

In any economy there is a financial system that is usually responsible for regulating the financial environment of the company determining the types and amounts of funds to be issued cost finds and the use of which these funds are to be put the financial systems is made of two major markets: the money an the capital market.

While money market are market for long-term funds and securities, including treasury bills [YBS] treasury certificates [TC] negotiable certificates of deposits [NCDS or CDS for short], commercial papers [CPS] and other funds of less than one years duration; the capital market; is the market for longer term funds and securities whose tenure extends beyond one year. These includes loans, mortgage bonds, preference stocks, ordinary shares common stock federal government bonds also called Eligible development stock or Giltedged securities and industrial loan [Osaze 1997]. It is a “complex” of institution and mechanisms through which intermediate funds and long-term fund are pooled and made.

• STATEMENT OF PROBLEM

The capital market history suggest the market values of stock and bonds can fluctuate widely from year to year and why does this occur at last part of the answer is that price change because new information arrives and investors reasces asset values based on that information. Some of these are problem

• Few listed securities: the number of quoted companies operating in the capital market is relatively small.
• Low demand for securities: the general low personal income within the economy lack of proper knowledge about the securities market the benefit accruing there of and the available of more attractive.

Low level of market awareness: the low level

 

THE IMPLICATION OF COMMON CURRENCY FOR WEST AFRICAN COUNTRIES

Click here to download our android mobile app to your phone  for more materials and others

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA

   ORDER NOW

 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:0115939447

First Bank:
Account Name: Chi E-Concept Int’l
Account Name:3059320631

We also accept :   ATM transfer , online money  transfer 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>

Call Help Desk Line :  08074466939,08063386834.

After Payment Send Your Payment Details To

08074466939 Or 08063386834,   The Project Title  You  Selected On Our Website , Amount Paid, Depositor Name, Your Email Address, Payment Date. You Will Receive Your Material In Less Than 1 Hour Once We Confirm Your Payment.

WE HAVE SECURITY IN OUR BUSINESS.

MONEY BACK GUARANTEE

You may also need:  web design company in Nigeria   

Bulk sms company in Nigeria

 

 

CHAPTER ONE

• Introduction 1

1.1     Background of the study                                         1

1.2     Statement of the problem                                         4

1.3     Purpose of the study                                                5

1.4     Research questions                                                  6

1.5     Significance of the study                                         6

1.6     Scope and limitation of the study                             7

reference                                                                  9

CHAPTER TWO

Literature review                                                                10

• Introduction 10
• West African Countires – ECOWAs 12
• Problem of ECOWAs 17
• West African Currency Board (WACB) 18
  • West African Currency Board operation 20
  • The concept – common currency 21
• Global common currency 23
  • The Euro – Dollar                                         23
• The need for global common currency 24
• Management, headquarters and mode of operation of West African Common Currency 31
• The prospect o common currency for West African 33
• The problems facing the establishment of common currency for Africa.                                                             35
• References 39

 

CHAPTER THREE

Research methodology

• Method of investigation 42
• Instrument of data collection 42
• Primary sources of data 43
• Secondary sources of data 43
• Population and determination of sample size 44
• Validity and reliability of research instrument 46

CHAPTER FOUR

Data presentation and analysis                                           47

• Data analysis techniques                                                47
• Analysis of questionnaires 48

CHAPTER FIVE

Summary of findings, recommendations and conclusion

• Summary of findings 65
• Recommendations 66
• Conclusion 68

Bibliography                                                                      69

Appendix                                                                           73

 

 

 

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

          The actual study for establishment of a common currency for west African state (ECOWAS) and drafting of a programme of monetary and fiscal polices of members states was between 1985 and 1986 period (Arah, 2001: 29). In response to the study, the sub-region monetary co-operation programme involving short and long term measures were seen to be economic flight (Ogwuma 1998:3). The highest level of economic integration is the monetary union, which involves the integration of trade and micro-economic policies and establishment of a common central bank and a single currency.

The establishment of a monetary union is however consequent on the member states, meeting the convertibility condition of monetary and fiscal prudence and other macro – economic convergence indicators which are the short and long term measures. The short term measures were settlement of areas in the west Africa monetary agency (WAMA), clearing system establishment of a credit guarantee fund, introduction of new payment instrument like ECOWAS travelers cheques and extension of the range of products eligible for transactions through the clearing system.

 

According to Ezema (2001;30) the long term measures include liberation of trade and payment system in all member countries, liberation of all interest and exchange rate, reduction of inflation to a single digit and creation of a single currency zone within the sub-region by the year 2000 (the deadline for achieving the measure by all member countries was set for 1988). However, most member states beat the deadline while the traveler cheques issues was delay due to political and economic muscle flexing between the Unions Economiuqe Manetaire Quest Africa (UEMQA) members and the rest.

 

The traveler cheques afforded one of the most realistic steps towards achieving economic integration and a single momentary zone, but had to suffer several postponement due to various reasons. The initial disagreement among member states was on the modalities for finding the cheques out of the ‘ghost” or imagined position to the members in the scheme of things. In the words of Olajide (2001:31) at another attempt in 1998, some CFFA zone members did not attend the summit on the ground that the delegates wanted to conclude some contracts with their home governments. This was done without notice even as it suffered postponement for another meeting with France before that of the travelers cheques launch.

 

In February 1998, at the planned launching in Abuja, all disagreement were resolved under the auspices of an adequate-hoc committee set up by the ECOWAS heads of states composing Cote D’ voice, Ghana, Mali, Togo and Nigeria. Univocally, the CFA zone members were in vanguard of the launching of the travelers cheques in 1999. Ostensibly due to the successful establishment of Euro (the European common currency which will take over the  national currencies in Europe in 2004), and therefore effectively terminate the French Support for CFA.

 

On December 15, 2000, heads of state and governments of ECOWAS in Bamako, Mali approved the decision to establish a common currency by 2003. the decision was the result of the initiative take by Ghana and Nigeria in a bilateral economic meeting on December 1999 to adopt  a two – track system called FAST TRACK APPROACH (FTA) to the implementation of ECOWAS integration programmes for West African  in 2004. The fast track approach recognize the need to have a parallel zone christened West Africa monetary Zone (WAMZ) the UEMOA to work for a gradual merger of the two at appointed period in line with the deadline.

 

• STATEMENT OF THE PROBLEM

In spite of the numerous efforts made by the ECOWAS member states to establish a common currency in West Africa which will help to foster economic integration international the sub – region by implementing ECOWAS monetary measures, the issue of common currency is still a mirage because of the following reasons;

1. The strength of the economics of these West African countries vary, so there is no common relationship between their monies.
2. Divergent tariff structure among member countries.

Low level of intra-regional trade in the sub region since less than 5 percent of the total

 

 

Continue reading THE IMPLICATION OF COMMON CURRENCY FOR WEST AFRICAN COUNTRIES →

ACCOUNTING AS AN AID TO INTERNAL CONTROL SYSTEM

 

Click here to download our android mobile app to your phone  for more materials and others

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA

   ORDER NOW

 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:0115939447

First Bank:
Account Name: Chi E-Concept Int’l
Account Name:3059320631

We also accept :   ATM transfer , online money  transfer 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>

Call Help Desk Line :  08074466939,08063386834.

After Payment Send Your Payment Details To

08074466939 Or 08063386834,   The Project Title  You  Selected On Our Website , Amount Paid, Depositor Name, Your Email Address, Payment Date. You Will Receive Your Material In Less Than 1 Hour Once We Confirm Your Payment.

WE HAVE SECURITY IN OUR BUSINESS.

MONEY BACK GUARANTEE

You may also need:  web design company in Nigeria   

Bulk sms company in Nigeria

 

 

ABSTRACT

This research project is on accounting as an aid to internal control system.

The problem study of this research is to find out whether Enugu State Government Accounting records are properly kept according to the provision of the state financial instruction as it concerns the state government. Again to know if there is any loophole in the accounting records as it concerns their internal control.

 

Any organization wishing to conduct its business in any orderly and efficient manner and to produce a reliable financial accounting information both for himself or others use, needs some control to minimize the effect of endemic human facings. And such control is known as internal control.

 

Internal control can therefore be define as a system of control, financial and otherwise established by the management of an enterprises in order to carry out the business of such enterprise in an ordinary and efficient manner, to ensure as far as possible the completeness and accuracy of records.

 

Finally the researcher is faced with problems of summary of all the findings, recommendation based on findings. From this findings accounting has been proved to be the best aid to internal control system. All this endemic human failings such as fraud, missing of files, misappropriation of funds, loop holes, distraction and so on and so forth will minimize where accounting as internal control is followed.

 

The main objective of this research is to ascertain if the internal control is effective and to analyze ethically the soundness, adequate and application of various internal controls on accounting records. This will also educate the government staff, of various duties expected from them. And also determine the degree of reliance, completeness and accuracy of the accounting records as is contained in the accounting records.

 

TABLE OF CONTENTS

Title page                                                                                     II

Approval page                                                                             III

Dedication                                                                                   IV

Acknowledgement                                                                       V

Abstract                                                                                       VII

Table of contents                                                                         IX

CHAPTER ONE: INTRODUCTION

• General overview                                                             1
• Statement of problem 3
• Objective of study 4
• Significance of the study 5
• Scope and limitation 6
• Definition of terms 7

References                                                                         9

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 General approach to internal control system                          12

2.2 Local related and foreign related literature                             13

2.3 Objective of internal control system                                       17

2.4 Principle and characteristic of internal control                       19

2.5 Types of control of internal control system                            21

2.6 Internal control and management                                           24

CHAPTER THREE: SUMMARY, RECOMMENDATION AND CONCLUSION

3.1 Summary                                                                               26

3.2 Recommendation                                                                   27

3.3 Conclusion                                                                            30

Bibliography                                                                           32

 

 

CHAPTER ONE

INTRODUCTION

1.1     GENERAL OVERVIEW

One major problem of management is planning but planning is useless if it is not implemented. And the success of any plan is based on adequate control and monitoring in order to achieve the required objective.

 

Therefore any organization wishing to conduct it business in an orderly and efficient manner and to produce reliable financial accounting information for its own and other use, needs some controls sot minimize the effect of the inherent limitation?

The researcher is researching on accounting as an aid to internal control system. (Enugu State).

 

Accounting can be defined as the art of recording and giving result of business transaction to the client. Accounting like any other filed has its origin. Accounting probably came into existence between 14^th to 16^th centuries. As development come in day-by-day the managements of who are not directly involved needed summarizes of transactions so as to enable them understand the positions of the business without the need of going through the books in details.

 

On the early Greek and Roman account the principle was centered on the need to keep tracks of the assets and they exercise control over those entrusted with property. The primary purpose of accounting is for stewardship. It will be rightly said that the earliest form of accounting reveals the preoccupation with internal control. Internal control is an important tool by which management aim to achieve its objective.

 

DE PAU L FRM, AND DE PAUL F.C. defined internal control as:

“Practically a continuous internal audit carried on by the staff itself through which individual is independently checked by other member of the staff”.

 

Internal control system does not make fraud impossible but makes it more difficult thereby giving chance of direction, and act as a valuable moral check. The essence of internal control being therefore to show whereby true ownership is separated from the management, the owners will be in no doubt that their assets and resources are efficiently managed.

Control has to be exercised over all the aspect of business without which the system is likely to be ineffective and too costly to operate in relation to benefit relieved.

 

1.2     STATEMENT OF PROBLEM

Government accounting system has a way of presenting an accounting for the fund. Foe example, income and expenditure or revenue and expenditure accounts and held by government establishment in government system, officers do not keep the account like profit making organization. There is a lots of lapses in cash office and pay roll section of many government ministries, cases of fraud and missing of office and files containing important documents like bills,

 

 

 

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