INTERNAL CONTROL IN AN EXAMINING BODY-

A CASE STUDY OF THE NATIONAL EXAMINATION COUNCIL, ENUGU ZONAL OFFICE

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

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

CHAPTER ONE:

INTRODUCTION

1.1     Background of the study

1.2     Statement of problem

1.3     Purpose of the study

1.4     Significance of the study

1.5     Scope and limitations

1.6     Statement of Hypothesis

1.7     Definition of term

End Notes

CHAPTER TWO:

REVIEW OF RELATED LITERATURE

2.1     A checklist of internal control

2.2     Qualities of a good internal control

2.3     Internal control and Accounting profession in Nigeria

2.4     Internal control of real-time installation

2.5     Consideration of an effective control system

2.6     Articles that enhance internal control system

(magazines and journals)

End Notes

CHAPTER THREE:

RESEARCH DESIHN AND METHODOLOGY

3.1     Source of Date

3.2     Survey instruments

CHAPTER FOUR:

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1     Presentation and Analysis of data

4.2     Interpretation of data

CHAPTER FIVE;

FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1     Findings

5.2     Conclusion

5.3     Recommendation

Bibliography

Appendices

CHAPTER ONE

INTRODUCTION

Background of the study:

Internal control was defined by the Auditing standards and guideline as a whole system of control both financial and otherwise, established by management in order to carry on the business of on enterprise in an orderly and efficient manner, ensure adherence to management polices, safeguard the asset and secure as far as possible the completeness and accuracy of records.’’(1)

In reality, internal control form the bedrock of auditing both from the point of view of management and the auditor, its objectives being the prevention or early detection of fraud and errors. It may include internal auditing which qualifies as part of the system of internal control and it is designed for the following reasons:

(a)      To enforce financial and other control:

(b)     Ensure adherence to management policy

(c)      Help to safeguard the assets (cash)

(d)     To ensure the accuracy and reliability of the records

(e)      Help to ensure orderliness in the business and

• Help in the prevention and early detection of fraud and errors.

An artificial review of the change in the Accounting practice will depict the essence of internal control system in an organization especially in an examining body.

The earliest known form of accounting, which is stewardship, Accounting started as far back as 450 B.C.  This form of accounting involves the orderly recorded of business transaction by person appointed by the landlord to serve as a stewards for them. This was later changed as the recording remained primitive stewardship accounting pave may to financial accounting during the nineteenth century which marketed the era of industrial revolution”. This indeed led to the advent of joint stock companies- a situation where by group of individuals contributed capital in exchange for shares in the asset and profits of the company sea bubble of 1720, had earlier on instilled fear and suspicion in the mind the public that they doubt the ability of the directors to carry out this type of trade honestly.

Management accounting however, is not left but for it is another aspect of accounting that got it authority and ground from the historical recording and analysing role of accounting to emphasizing detailed information for internal planning, control and decision making.

Currently most business are operated by limited liability companies which are owned by their share holders, but managed by the directors appointed by them.

In the same vein, the public corporation and establishment, and even examining bodies are owned by the public but under the management of appointees.

The appraisal of the work of these appointees are carried out by an independent person referred to as an auditor, who is charge with the responsibility of evaluating and examining the accounts of the management and report on his finding to the owners (share holder) of the company or corporations. It is pertinent to note that one of the tools or mechanism adopted by an auditor in appraising the work of the management is the internal control system with this system of control, the share holder are convinced or self assured on efficient and effective management of their assets and resources.

1.2 STATEMENT OF PROBLEM:

In an attempt to overcome envisaged problem in the presentation of accounting information and the system internal control, the government made a leading statement and regulations which serve as a yardsticks by which an accounting system could be measured. Also accounting and Auditing professional bodies laid town some guidelines, which will guide their member, and all practicing Accountants and Auditor in the performance of their professional duties.

CAUSES AND EFFECT OF INEFFECTIVE COMMUNICATION IN THE BANKING INDUSTRY

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

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

CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

Banking Industries (organizations) cannot operate without communication. Communication is the life source of every industry, because industries involve people. People cannot interact with each other without communication. In the absence of communication, everything would grind to a halt.

According to James et’al (2009), communication is a means by which a thought is transferred from one person to another. It is also the process by which the person (group) share and impact information to another or group clearly understand by one person and another.

Velenguela (2002), opines communication as any act by which one person gives to or receives from another person’s information about that person’s needs, desire, perceptions, knowledge or effective states. Communication may be intentional or unintentional, may involve conventional or unconventional signals, may take linguistic or non-linguistic forms and may occur through spoken or other modes.

Wikipedia (2009) defines communication as a process of transferring information from one entity to another. Communication processes are sign mediated interactions between at least two agents which share a repertoire of signs and semiotic rules “Communication is commonly defined as the imparting or interchange of thoughts”, opinions, or information by speech, writing or signs”. Communication can be perceived as a two-way process in which there is an exchange and progression of thoughts, feelings or ideas towards a mutually accepted goal or direction.

He further explains communication as a process by which information is enclosed in a package and is distracted and imported by the sender to a receiver via a channel/medium. The receiver then decodes the message and gives the sender a feedback. Communication requires that all parties have an area of communication community.

According to Webster (2009), defines communication as an act or instance of transmitting information assign and convey meaning in an attempt to create and share understanding. This process requires a vast repertoire of skills in interpersonal processing, listening, observing, speaking, questioning, analyzing and cooperation occur.

Communication can take various forms, but all forms involve the transfer of information from one party to the other. In order for the transfer of information to be qualify as a communication, the recipient must understand the meaning of the information transferred. If the recipient does not understand the meaning of the information conveyed, communication has not taken place.

Workers in the Banking industry would not know the industry objectives, so they would not strive to achieve the industry objectives and also would not know what their roles and responsibility are; so they will not be able to carryout their jobs and would not be able to inform workers of changes. The industry would not be aware of the competitors’ activities and a lot of other things without communication.

Communication is one of the basic functions of management in any banking industry and its importance can hardly be overemphasized. It is a process of transmitting, information, ideas, thought, opinions and plans between various parts of the industry.

It is not possible to have human relation without communication. However, good and effective communication is required not only for good and successful business.

Effective Communication is required at various levels and for various aspects in the industry such as manager employee relations. Effective communication is of information and decision i.e. an essential component for management employees unless they are communicated effectively of what he wants to be done, he should also be sure of some basic facts such as how to communicate and what results can be expected from that communication. Most of management problems arise because of lack of effective communication. Chances of misunderstanding and misrepresentation can be minimized with proper communication system.

Ineffective communication can be caused by incomplete messages, individual difference. As human beings, each person is uniquely different from any other person. Therefore, people may interpret want differently, perceive realities differently, have variable opinions, attitudes and emotions towards people, things and events differently they may have different developmental experiences, intelligence, cultural and political beliefs, all of which may tend to affect the way they conceive or perceive a message.

An Industry: Is a group of productive organizations that produce or supply goods, service or sources of income.

Wikipedia (2009), sees industry from so many aspect such as:

–         Industry as a commercial production and sale of goods

–         As a specific branch of manufacture and trade.

The Banking Industry

Answer bag (2009) sees banking industry as a sector of an economy used to cover any form of economic activity, such as “Banking industry”

ASSESSMENT  OF ACCOUNTING INFORMATION IN MANAGEMENT PLANNING AND DECISION MAKING                                                              

  (A CASE STUDY OF ZAKI FLOUR MILLS)

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

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

The aim of the project is accounting information as a tool for management decision. The work covers various process of account information (management Account, financial account, standard for accounting information). This project will also consider possible ways of using accounting information as a tool for management decision. This project will afford the opportunity of identifying the major importance of accounting information in management for a proper decision making. Also the provided account information allows easy planning and control purpose. Lastly, the project topic assists the information conclusion drawn on he problem and the necessary ways of solving it properly to ensure a perfect management operation.

CHAPTER ONE

1.0    Introduction        –       –       –       –       –       –       –       1

1.1    Background of the study       –       –       –       –       –       3

1.2    Statement of the problems    –       –       –       –       –       4

1.3    Objective of the study  –       –       –       –       –       –       6

1.4    Research of hypothesis –       –       –       –       –       –       6

1.5    Significance of the study       –       –       –       –       –       7

1.6    Scope of the study       –       –       –       –       –       –       8

1.7    Historical background of the case study-  –       –       –       8

1.8    Definition of the terms  –       –       –       –       –       –       10

CHAPTER TWO: Literature Review

2. Introduction-      –       –       –       –       –       –       –           13
3. Financial accounting     –       –       –       –       –       –           14

2.2    Management accounting       –       –       –       –       –           15

2.3    Users of accounting information     –       –       –       –           17

2.4    Standard for accounting information       –       –       –           20

2.5    The need for accounting information       –       –       –           22

2.6    Presentation of information   –       –       –       –       –           26

2.7    Over view of external financial statement-        –       –           27

2.8    Cost calculation   –       –       –       –       –       –       –           33

2.9    Ratio and percentage analysis        –       –       –       –           35

2.10  Break Even analysis      –       –       –       –       –       –           37

2.11  Financial Decision         –       –       –       –       –       –           37

CHAPTER THREE

3. Introduction        –       –       –       –       –       –       –           40
4. Research design  –       –       –       –       –       –       –           41
5. Population of study-     –       –       –       –       –       –           42
6. Sample  of the study    –       –       –       –       –       –           42
7. Sampling techniques-   –       –       –       –       –       –           43
8. Method of data collection      –       –       –       –       –       43
9. Method of data analysis        –       –       –       –       –       47

CHAPTER FOUR:  Data Presentation, Analysis and interpretation

4. Introduction        –       –       –       –       –       –       –       48
5. Interview with the finance department    –       –       –       49
6. Interview question with the management         –       –       51
7. Test of hypothesis        –       –       –       –       –       –       53

CHAPTER FIVE: Summary, Conclusions and Recommendations

5. Introduction        –       –       –       –       –       –       –       64
6. Summary    –       –       –       –       –       –       –       –       64
7. Conclusion –       –       –       –       –       –       –       –       67
8. Limitation of the study  –       –       –       –       –       –       68
9. Recommendations        –       –       –       –       –       –       69

Bibliography-       –       –       –       –       –       –       –       71

Appendix    A-     –       –       –       –       –       –       –       72

Appendix    B-     –       –       –       –       –       –       –       73

CHAPTER ONE

1.0     INTRODUCTION

An organization needs qualitative information to function or make decision; the available of such information make the organization to function in the most effective and efficient manner. This information is provided by the accounting system to the management, which uses it primarily to accomplish three (3) broad purposes, viz:

1. To provide financial statement to interested external users
2. To plan the operations of the organization in both the short and long run.
3. To control the result of its operations

In financial accounting, the responsibilities of the accountant ranges from recording and analysis, summarizing and reporting the result of the activities of the organization to creditors, stock holders and prospective investors, government, labour, environmental organization and others. In the case of reports to external users, they are classified for general purpose; they are financial statement, the income statement, the retained earnings, the balance sheet and the statement of financial position. People who protest or enhance their investment in the organization as by other who have a special interest in it use this statement. In management accounting, accountants provide information for use by office within the organization (the managers) rather than for use by other outside the organistion, such information are mainly decision making concerning the internal function organization. Management accounting also provides information to the decision makes for the following purpose:

1. Formulation of policies
2. Planning and controlling the activities of the enterprises
3. Safeguard the assets of the organization
4. Disclosure of employee’s area of specialization
5. Decision taken alternative cause by action.

Management and financial accounting may be understood by considering the basic goals of financial accounting is to direct forms of operations to maximize income the period measure net income used by the management in making decision to avoid what may be considered as an unwise decision to external user or vice versa. However, the relevance accounting information effective decision making in this research work, the degree of the relationship shall be clearly spelt out and identified.

1. BACKGROUND OF THE STUDY

The choice of the topic “Accounting information as a tool for management decision making” has been motivated by the fact that whatever accounting on information is presented to the has been collected, classified and analysis will determine the extent to which it is to be relied upon by the management in order to formulate a favourable decision in the organization.

The project therefore examines the relevance of accounting information to managerial decision making manufacturing companies with a view to highlighting the area of weakness and making necessary recommendations.

It is infact in the light of the above that attempt be made to apprais the essence of accounting information in making decision concerning he use of limited resources, including the identification of the overall organization objectives.

1. STATEMENT OF PROBLEMS

Management who thinks that they operate successfully without the use of the information provided by the accountings and up being economic failure to their respective industries, and some times course embarrassment to the organization. Take for instance, the accountant of an organization provide his manager with the information that there is no fund for any programme execution in the company. Despite this information, the manager went ahead an instructed the accountant to draw a cheque payable to a contractor who supplied some materials to the

AN ASSESSMENT OF THE EFFECTIVENESS OF VALUE ADDED TAX ADMINISTRATION IN NIGERIA

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     Background of the Study                                                        1

1.2     Statement of the Problem                                                        6

1.3     Objectives of the Study                                                           7

1.4     Research Questions                                                                 8

• Research Hypotheses 8

1.6     Significance of the Study                                                         9

1.7     Scope of the Study                                                                  10

1.8     Limitations of the Study                                                          10

1.9     Definition of Terms                                                                 11

References                                                                               12

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1     Conceptual Framework                                                           13

• Taxation: Meaning and Historical Perspective 13
• Value Added Tax: Concept, Types and Advantages 20

2.1.3  Objectives for the Imposition of VAT                                     22

2.1.4  Taxable Goods and Services                                                   22

• Exempted Goods and Services 25

2.1.6  Accounting for VAT                                                               26

2.1.7  Administration of VAT in Nigeria                                          28

2.2     Theoretical Framework                                                           30

2.3     Empirical Studies                                                                    35

References                                                                               43

CHAPTER THREE: RESEARCH METHODOLOGY

3.0     Introduction                                                                                      46

3.1     Research Design                                                                      46

3.2     Population of the Study                                                          47

3.3     Sample Size                                                                             47

3.4     Method of Data Collection                                                      47

3.5     Model Specification                                                                 48

3.6     Method of Data Analysis                                                        49

References                                                                               50

CHAPTER FOUR:  DATA PRESENTATION AND ANALYSIS

4.1     Introduction                                                                                      51

4.2     Data Presentation and Analysis                                              51

4.3     Test of Hypotheses                                                                 56

CHAPTER FIVE:  SUMMARY OF FINDINGS, CONCLUSION                                               AND RECOMMENDATIONS               

5.1     Summary of Findings                                                              60

5.2     Conclusion                                                                              61

5.3     Recommendations                                                                             62

Bibliography                                                                           64

Appendix I: Data Used for the Study                                               67

Appendix II: Detailed Output of Regression                           68

LIST OF TABLES

Table 1:      Sensitivity of Government Income to Value                                                         Added Tax                                                                    52

Table 2:      Sensitivity of Consumption Pattern to Value                                             Added Tax                                                                       52

Table 3:      Sensitivity of Import of Vatable Goods to Value

Added Tax                                                                     53

Table 4:      Goodness of fit through R Square                                 54

Table 5:      Regression Analysis for Dependent and

Independent Variables                                                   55

Table 6:      ANOVA Result                                                             56

ABSTRACT

Country seeking to improve its revenue generation would opt for a concept enabling it to best realize its objectives with due regards to its peculiar socio-economic make-up. One of these ways is by taxation.  This study seeks to assess the effectiveness of value added tax administration so as to see whether value added tax has affected certain macroeconomic variables in Nigeria.

The study period was 1993 through 2012. The study was guided by three (3) research objectives, questions and hypotheses.  The study was guided by three (3) research objectives, questions and hypotheses.  The theoretical framework of the study was anchored on the expectancy theory of taxation and related literatures to the research work were reviewed.

The data for the study were obtained from the Central Bank of Nigeria Statistical Bulletin.   Based on the analysis, the study found that value added tax has significantly affected government income in Nigeria; value added tax has significantly affected consumption patterns in Nigeria and value added tax has significantly affected the level of imports in Nigeria.

The study recommends among others that the government through its regulatory agencies should inject some fairness in the tax system in the area of consumption tax so that the burden of income tax would lessen on those with a low income level.  In addition, the tax revenues should be properly distributed so that economic growth can be harnessed, especially in providing basic social amenities as well as infrastructures in Nigeria.

CHAPTER ONE

INTRODUCTION

• Background of the Study

Taxation is the whole machinery needed to implement the collection of taxes.  Taxes are compulsory levies imposed by the government on her eligible citizens for the purpose of revenue generation which enables government to discharge its role of providing basic infrastructure and services thus taxes provide funds required for delivery of essential community services and the infrastructure that household and firms rely on in research healthcare, education, security and more (Odah, 2006).    Nigeria as a nation has the vision of becoming one among the world’s 20 largest economies in the year 2020; this obviously is the brain behind the priority attention the present administration is directing at infrastructural development which is an essential for economic growth.

A developed economy is one with the ingredient to stimulate investment and create wealth, this by implication offers an atmosphere that is business friendly and has the potentials for the actualization of the vision 202020.  The desired outcome requires a lot of money to put the economy in a position that stimulates investment, therefore, tax policies need to attract potential investors, and the revenue from tax should be sufficient enough to meet the infrastructural expenditures of the government. Apere (2013) noted that taxation is a microeconomic and fiscal policy instrument; it involves the transfer of resources from the private to the public sector for the accomplishment of economic and social goals.  It is an instrument the government uses to measure, access and control the informal sector that dominate developing economies of the world.

Country seeking to improve its revenue generation would opt for a concept enabling it to best realize its objectives with due regards to its peculiar socio-economic make-up. One of these ways is by taxation. Taxation can therefore be defined as a means by which a government appropriate part of the private sector’s income. The accumulated revenue is used in meeting recurrent expenditure. Tax occupies a unique position, because it is an important part of government policies. The ability of a government to generate revenue from this sector affects services offered by such a government. A means of improving internally generated revenue is through “Value Added Tax” (VAT) (Wambai and Hanga, 2013).

Value Added Tax was FIRS introduced by France in 1954. It has been embraced by well over seventy countries all over the world. These include the entire organization for economic co-operation and development of countries, Japan, Canada, the state of Michigan in the U.S.A and many African countries.  In Nigeria, the match towards VAT system started with acceptance of the recommendation of a study group on in direct taxation in November, 1991. The decision to accept the recommendation was made public in the 1992 budget speech of the Head of State. This resulted in setting up the modified Value-Added Tax (MVAT) committed on 1^st June, 1992 as recommended by the study group. The recommendation of the committee that VAT should be administered by an independent commission was rejected by the government. Tax administration was however given to Federal Inland Revenue Services, which was already charged with the responsibility of administering most other taxes in Nigeria.

The introduction of VAT in Nigeria through Decree 102 of 1993 marks the phasing out for the Sales Tax Decree No. 7 of 9186. The Decree took effect from 1^st December, 1993, but by administrative arrangement, invoicing for tax purpose did not commence until 1^st January 01994.  Value Added Tax is a tax on the supply of goods and services which is eventually born by the final consumer but all collected at each stage of production and distribution chain. With VAT, government reasoned it will be virtually impossible to evade tax.

The instrument that introduced VAT spells out goods and services that attract the tax. It shows, for instance that food items do not attract VAT resides, sellers of goods on which VAT is paid must first of all register with the Federal Inland Revenue Services, the aim is to ensure that the 5% VAT paid on goods and services, but this is not exactly, what is happening now. Market women are charging VAT on food items with the obvious that this tax, simply increases their profit margin, land lords are charging VAT on house rent, hotels are also charging VAT. All these are contrary to the regulation governing this system.

The fear is that very soon Nigerians will pay VAT on everything. It is the fear of the already pauperized Nigerians. Sinking more into an abyss that informed the researcher’s decision to look into VAT implementation and input on government revenue.  As a result of the uncommon nature of this tax system, majority of the populace in the country are unaware of its existence, consequently, the low credibility of government makes people scam the payment and collection of VAT. It is against this backdrop that this study seeks to assess the effectiveness of value added tax administration in Nigeria.

Continue reading AN ASSESSMENT OF THE EFFECTIVENESS OF VALUE ADDED TAX ADMINISTRATION IN NIGERIA →