THE BUSINESS OF FINANCIAL RATIOS AS A TOOL OF EVALUATING THE PERFORMANCE OF A COMPANIES FOR INVESTMENT DECISION

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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. 

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8. Keystone Bank:
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9. Sky Bank:
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10. Stanbic IBTC:
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11. Sterling Bank:
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12. UBA:
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13. Unity Bank:
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14. Zenith Bank:
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15. Diamond Bank
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To know your BVN, dial
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E.g for First bank…   *894 *Amount *Acct. No. #

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ABSTRACT

Risks and uncertainties are factors, which a business must face so long as it remains a going concern. Thus to avoid the effect of such risks and uncertainties, management and other potential businessmen are advised to adopt the tool of financial ratios.

The financial ratios will expose the position of the business in terms of performance and efficiency of operations. They show whether the management are efficient or inefficient in utilization of resources such as capital, assets labor etc.

This project work is aimed at highlighting usefulness of financial ratios as a tool of evaluating the performance of companies for investment decision.

Chapter one (the introduction) will explain the meaning of financial ratios, it will go further to state the purpose of the study, it significance, scope as well as definition of terms with respect of financial analysis.

Chapter two will deal with the literature review. Then the study of background of topic will be equally highlighted. Explanation of selected financial ratios will also be shown.

Coming to chapter three, the techniques of collection of data and data analytical tool to be used will be described here. The techniques for collection of data will include the questionnaire sources. The data analytical tools to be used as percentage size analysis and chi-square.

Chapter four shows the analysis of the data collected.

Finally, in chapter five, the findings be made will be stated, followed by recommendation to ensure effective and efficient use of financial ratios by users for investment decisions. Finally the conclusion will inform readers or users that usefulness or benefits of financial ratios in evaluating performance of companies for investment decision cannot be over emphasized and that if neglected, the shareholders or investors will not know their position or fate in companies.

 

TABLE OF CONTENT

CHAPTER ONE

• Introduction 1
• Purpose of study 5
• Significant of study 6
• Statement of problem 7
• Statement of hypothesis 9
• Scope and limitation of study 9
• Definition of terms. 9

CHAPTER TWO

REVIEW OF RELATED LITERATURE                                              13

2.1 Importance of financial ratios                                                          13

2.2 Users of financial ratios                                                                   15

2.3 Reliability of financial ratios                                                            19

2.4 Limitations of financial ratios                                                          19

2.5 Computation of financial ratios                                                        22

2.6 Explanation of selected financial ratios                                            22

2.7 Final consideration in financial statement analysis.                          28

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY                                  33

3.1 Sources of data                                                                                          33

3.2 Sample to be used.                                                                           34

3.3 Methods or system of investigation.                                               34

CHAPTER FOUR.

DATA PRESENTATION, ANALYSIS AND INTERPRETATION     37

4.1 Data analysis                                                                                    37

4.2 Test of hypothesis                                                                            49

4.3 Summary of ratio.                                                                            54

CHAPTER FIVE

Summary Of Findings, Conclusion And Recommendation                   59

5.1 Findings                                                                                          59

5.2 Recommendation                                                                             61

5.3 Conclusion                                                                                      62

Bibliography                                                                                63

          Appendix                                                                                     69

 

CHAPTER ONE

 

1.1     INTRODUCTION

          Financial ratios are tools used to analyze financial conditions and performance. Financial analysis means different things to different people. Trade creditors are primarily interested in the liquidity of the firm being analyzed. Their claims are short term and the ability of the firm to pay these can best be judged by an analysis of its liquidity. On the other hands, the claims of bondholders are long term. They are interested in the cash flow of the firm to service debts over a long period of time. The bondholders may evaluate this by analyzing the capital structures of the firm, the major sources and users of fund, the firms profitability. Finally, an investor in a company’s common stock is concerned principally with present and expected future earning as well as the stability of these earning about a trend. As a result the investor usually concentrates on analyzing the profitability of the firm (financial ratios)

the point of view of the analyst may be either external or internal. For external, it involves suppliers of capital while that of internal, the firm needs to undertake financial analysis in order to plan and control effectively. To plan for future, the financial manager must assess the firm financial position and evaluate opportunities in relation to their effects on this position.

With internal control, the financial managers is particularly concern with return on investment in the various assets of the company and in the efficiency of asset management.

Financial analysis involves the use of financial statement. These statement attempt to several things. They portray the assets and liabilities of a business firm at a moment in time usually at the end of a year.

They portray an income statement which involves the revenue, expenses, taxes and profit of the firm at a particular period of time  usually one year.

While balance sheet represent a snapshot of the firm’s statement of assets and liabilities at a moment in time. The income statement depict its profitability over time.

To evaluate a firm financial condition and performance, analysis and interpretation of various ratios should be given to experiment and skilled analyst.

The analysis of financial ratios involves two types of comparison

1. INTERNAL COMPARISON: Here the analyst can compare a present ratio with past ratio of the same company. It can also be computed for projected or perform a statement and compared with present and past ratio.
2. The second method of comparison involves comparing the ratio of one firm with those of similar firm or with industry (this type of comparisons is known as Finding the Industry average of firm). This comparison gives insight into the relatives of financial conditions and performance of the firm. But my emphasis in this research work is to limit it to the first comparison or internal business enterprises have leased to operate or collapsed as a result of increase in market uncertainties ( with unsteady interest raes exchange rate, political instability) and inability of some business managers to use financial ratio effectively and accurately in the assessment of the performance of their organization. In order to attain the traditional objectives of maximization of shareholders wealth, the managers should use or apply financial ratio in taking necessary business decision.

Many banks have gone distressed because of inability of bank managers to check their lending by using financial ratio to ensure that they do not go below their minimum liquidity levels and that of reliable and viable business are given loans and overdraft.

As a result of economic hardship and inflation prevailing in the economic, it becomes very important that an effective and reliable means of evaluating the performance of companies for investment decision should be adopted any management shareholder creditors and even general public. Financial ratios analysis is one of the major techniques and in evaluating performance of business organizations.

Financial ratio exposes the position of the business in terms of performance and efficiency of operation. They show whether the management are efficient or inefficient in their utilization of resources such as capital assets, labor etc.

The degree of leverage of a company is ascertained from financial ratio analysis and this will enable stockholders and other suppliers of capital known the degree of gearing in a company’s capital structures. Prospective investors can now measure their risk in the company and decide whether to invest in the company or not.

Financial ratios indicate whether the value of stock of the company is increasing or falling. This provides prospective investors opportunities to decide whether to invest or not and existing stock holders whether to hold stock or dispose them

Because financial ratios express areas of weakness and strength of the companies mangers used them to review operations for better performances in future.

There are many financial ratios used in evaluation of a company’s performance but for purpose of this study, it will be limited to activity, leverage investment, liquidity and profitability.

 

1.2                    PURPOSE OF THE STUDY

            The objectives of this research work is to assess or know the importance/usefulness of

EFFECTIVE APPLICATION OF BREAKEVEN ANALYSIS IN MANAGEMENTS FIRMS

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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.

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ABSTRACT

 

This research work is an appraisal  of the “EFFECTIVE  APPLICATION OF BREAKEVE ANALYSIS IN MANUFACTURING FIRMS”

This work is firmly directed towards, the need and usage of breakeven analysis by managers and accountants in manufacturing firms. Breakeven analysis  is a management tool that could be used in making vital decisions when a firms is faced with problems having lost, volume and profit implication However, breakeven analysis can be a valuable and reliable decision making tool if it is exhaustively conducted and applied.

Based on the findings, some recommendation on two to revert the situation towards effective application were made which include:

• That seminar, symposia and workshops on application breakeven analysis should be organized by bodies like the Institute of Chartered Accountants of Nigeria (ICAN), Nigeria Institute of Social Economic Researcher (NISER) Nigerian Institute of Management.
• That the Institute of Chartered Accountants of Nigeria should start the publication of a new professional journals in Nigeria devoted solely to the development of the theory and application of management accounting principles and techniques.

Hence, we therefore conduce that if the above mentioned recommendations are understood, accepted and implemented. Our manufacturing firms will be able to make better cost-volume-profits decisions, which will result is increased efficiency of the manufacting sector or industry.

 

TABLE OF CONTENTS

   CHAPTER ONE

• Introduction

1.1     Objective/ purpose of the study

• Significances of the Study
• Scope of the Study
• Limitation of the Study
• Definition of Terms.

 

CHAPTER TWO

• Definition

2.1     Functions

2.2     Ways of Regulations

 

CHAPTER THREE

• Summary of Findings

3.1     Conclusion

• Recommendation

CHAPTER ONE

1.0     INTRODUCTION

In considering how the management accountant can be assistance in producing answer to questions about the consequences of following a particular course of action. Such questions might include: What would be the effects of profits if we reduce our selling price and sell more units? What sales volume is required to meet the additional fixed charge from a proposed plant expansion?  Should we pay our sales personals on the basis of salary only or on the basis of commission only, or by a continuation of both? These and other questions can be considered using Breakeven Analysis which is the most widly known form of cost-volume-profit analysis. For this reasons, the two terms are used interchangeably by many.

Breakeven analysis is a systematic method of examining the relationship between changes in volume (that is output) and changes in total sales revenue, is a specific way of presenting and studying the inter relationship between cost-volume and profit. As a model of these relationships. Breakeven analysis simplifies the real work condition which a firm will face. It provides information to management in most lucid and precise manner and it is an effective and efficient financial reporting system.

Breakeven analysis is based on the relationship between sales volume, cost are profit in the short run, the short run being a period which the output of a firm is restricted to the same available  from the current operating capacity. In the short-run some input can be increased but other cannot.

Hence, breakeven established a relationship between revenue and cost with respect to volume. It indicates the level of sales at which costs and revues are in equilibrium. The equilibrium point in commonly known as the breakeven point. The breakeven point is the point of sales volume at which revenue equal to total costs. It is a point of no loss.

One of the important prerequisites  of using the breakeven or C-V-F analysis is that costs can be separated into fixed costs and variables costs, variable costs change in direct proportion to change in volume of activity which fixed cost remains constant to any given volume of activity. For the breakeven point to occur, its necessary that the firm has both variable and fixed costs. If all costs of the firm  were variable no profits no loss situation will arise at zero sales volume and profits would be varying proportionately with sales. On the then hand, if all costs were fixed the breakeven would occur at a point were revenue are equal to fixed costs and afterwards profits would be equal to the sales volume.

 

1.1     PURPOSE OF THE STUDY

Some people do not know the benefits of effective applications of breakeven  analysis which has a tremendous positive effects on the profitability of manifesting firms this however is designed

 

THE REALITIES OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

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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.

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ABSTRACT

The project on the realities of privatization and commercialization on the Nigerian Economy is an evaluation and digestion of the newly introduced system of privatization and commercialization with an insight view on it’s effects, merits, demerits, problems and prospects.

To achieve this objective, the project is divided into three chapters and some preliminary pages for classification.

Chapter one, deals with the introduction by establishing the objective of the study, and statement of problems, and giving definition of relevant term etc.

Chapter two, is the theoretical framework of the project. It is divided into five sub-headings for easy referencing. It consist of extracts, and information from related literatures like newspaper, journals, textbooks etc. It forms the basis on which the findings are deduced.

Chapter three, is made up of the findings, conclusion and recommendation, that is the deduction made at carrying out the literature review, and the researcher having been through the project, were in a position to say few things on the effect and to make recommendation based on the literature review.

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION                                                              1

• BACKGROUND OF STUDY 1
• STATEMENT OF PROBLEM 2
• OBJECTIVE OF PROBLEM STUDY 3
• SIGNIFICANCE OF STUDY 5
• SCOPE AND LIMITATION OF STUDY 7
• DEFINITION OF TERMS 8

CHAPTER TWO

REVIEW OF RELATED LITERATURE                          10

• MEANING OF PRIVATIZATION AND-

COMMERCIALIZATION                                            10

• ORIGIN OF PRIVATIZATION AND –

COMMERCIALISATION                                            14

• PROBLEM FO PRIVATISATION AND –

COMMERCIALISATION                                            16

• PROSPECTS OF PRIVATISATION AND –

COMMERCIALISATION                                            22

CHAPTER THREE

• FINDINGS                  26
• CONCLUSION 28
• RECOMMENDATION 28

 

CHAPTER ONE

INTRODUCTION

BACKGROUND OF STUDY

It might be necessary to define from onset what privatization and commercialization means.

A functional definition of privatization is the transfer of ownership of public enterprises to private hands. This means that the government, which has the only or major shareholder in these enterprises, would divest itself of its holding and pass it over to the Nigerian individuals, associations and organization, to own and manage in order to give the enterprises a new lease of life by turning them around.

Commercialization on it’s own simply means that the government, whilst retaining ownership, will hands off the funding and management of these enterprises, leaving them to tend for themselves with whatever expertise they may have with this arrangement.

 

STATEMENT OF PROBLEMS

The introduction of privatization and commercialization on Nigerian Economy poses a lot of questions in the inquisitive minds of most people as to the “Why” and “how” of the introduction.

This brings about reactions from various sectors of the economy. These reactions are the problems this research work is going to face or address itself to.

 

WHY PRIVATISE?

The poor situation of the nation’s economy has compelled the government and people of this great country to continue to search for a better or viable solution. The nation’s ailing economy has been brought about by a number of internal and external factors which includes:-

1. The oil and the concomitant decline in oil price;
2. The unprecedent huge external debts into which the national has been plunged;

BUDGET AND BUDGETARY CONTROL AS A TOOL FOR EFFECTIVE DECISION ANDPLANNING IN MINISTRIES AND PARASTATALS

(A CASE STUDY OF MINISTRIES AND PARASTATALS IN IMO STATE)

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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

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ABSTRACT

Budget and budgetary control as a tool for effective decision and planning in ministries and parastatals.

 

The researcher is prompted into choosing this due to the peculiar nature of the topic budgetary control in ministries and parastatals.  In this project work the definition of budget is being known as a techniques their task of planning, coordinating, directing and control in an organization.  For a government ministries to achieve their aims budget must be enlisted in Agenda.  In carrying out this project work the topic identify the objective, statement of hypothesis, significance of the problem and the limitation of the project work.

 

This project work is limited to the budget of Imo state government ministry and parastatals.  Nevertheless profit oriented organization and parastatals make use of different budget to enable them meet their desire goals.  I bid to identify those administrative probelsm personal observations and interview where made and conducted, it was discovered that budget and budgary are the key note of every successful body or organization as a result of policies not being strong enough to beat them to it.

 

Finally budget enjoys a wide application.  They can be used in our private homes where a civil servant who earns and income and plan on it.  Also the same thing is applicable to the ministries and parastatals.

 

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

 

CHAPTER ONE

INTRODUCTION

• Statement of the problem
• Statement of the hypothesis
• Objective of the study
• Significance of the study
• Limitation f the study
• Difinition of the term

 

CHAPTER TWO

LITERNATURE REVIEW

• Budgets
• Budgetary control
• The planning and control process
• Management by objective
• Management by exception
• Budgetary system in non-project secking organization

 

CHAPTER THREE

Research methodology

• Primary source of Data collection
• Type of primary source of data
• Advantage of interview method
• Secondary source of data collection
• Type of secondary data collection

 

CHAPTER FOUR

TEST OF HYPOTHESIS

• Budget and budgetary control in Imo state
• Review of Imo state government budget
  • 1997 Budget
  • 1998 Budget
  • 1999 Budget
  • 2000 Budget
• Presentation and analysis of data

 

CHAPTER FIVE

SUMMARY OF FINDING, CONCLUSION AND RECOMMENDATION

• Summary of finding
• Conclusion
• Recommendation
• Bibliography

CHAPTER ONE

INTRODUCTION

Budgeting is essentially concerned with planning and can be broadly illustrated by comparing with the routine a ship captain follows on each voyage.  Before the voyage, he will plan his route, taking into account such factors as shipping harzards, tides and possible adverse weather forecast.  During the voyage he will check on his plans and record and unusual conditions.  If necessary, he may even have to leviater from his plan if prevailing circumstances require it.  On completion of the voyage he will compare the conditions he encountered with those he expected and use the experience gained in planning similar voyages in the future.

 

Budgets and budgeting control are two accounting techniques, which top management adopts to achieve its tasks of planning, coordinating, directing and control in an organsiation.  Planning is mainly concerned with the establishment of objectives the formulation, evaluation and selection of the policies, strategies factics and actions required to achieve these objectives planning was previously based on historical cost conventions.  This process increased the emergency decision which top management had to make because historical cost conventions arenot future oriented; they do not aid planning.

 

In order to reduce to management emergency decision making processes and thus aid planning, variable budgets were introduced.  This is so because managers want to know more than they have done currently in relation to last period performance, they also want to know how they have done currently in relation to their current target performance.

Control on the order hand follows closely after action has been taken.  If is a process where by actual performance is compared with targeted budgeted performance any deviations from this target are investigated for an in-depth or positive explanations to be given.  Budgetary control is the technique used for this purpose and when it is combined with budget, it becomes part of responsibility accounting the aim of budgetary control is to provide a format basis for monitoring the progress of the organization as whole and of its components parts, towards the achievement of the objectives specified in the planning budgets.

Budgets enjoy a wide application.  They can be used in our private homes where a civil servant who earns a monthly income will map out his objectives and plan effectively with what he haste achieve these objectives.  Both profit-oriented and non-profit oriented organization apply in all three tiers of government –local, state and federal.

 

Profit oriented organization use the type of budget that is output and objective oriented to enabl them know how efficient they have been in managing the resources available to them.  They therefore use the planning programming budgeting system (PPBS) budgeted expenditure is compared with actual performance achieved.  The system is based, not on traditional organizational structure and divisions, but on programmes grouping of activities common objectives.

This is in sharp contract with the type of that is used in non-profit seeking organizations like the local state and federal government agencies.  This is the lineitem budgeting system.  This method is the tradition the traditional approach to government allocation; it is oriented to expenditure and budget relates mainly to the organizations from which they are prepared not for the purpose for which money is spent.

 

• OBJECTIVE OF THE STUDY

The purpose of the study is to find how budgets and budgeting control is used as a tool

 

REVENUE COLLECTION STRATEGY IN THE REFORMED LOCAL GOVERNMENT: (A CASE STUDY OF UDI LOCAL GOVERNMENT)

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CHAPTER ONE

Introduction                                                                                 1

1.1     Background of the study                                                   1

1.2     Statement of the problem                                                   3

1.3     Purpose of the study                                                          3

1.4     Significance of the study                                                   5

1.5     Scope/delimitation of the study                                          6

1.6     Research question                                                              7

1.7     Definition of terms                                                            8

CHAPTER TWO          

2.0     Literature review                                                                9

• Theoretical frame work 11

CHAPTER THREE

3.0     Research methodology                                                      31

• Research design 31
• Population of the study 31
• Sample and sampling techniques 32
• Instrument of data collection 32
• Validity 33
• Reliability 33
• Method of data analysis 33

CHAPTER FOUR

• Data presentation and result 36

 

CHAPTER FIVE

• Discussion of results 40

5.1     Summary of finding                                                          40

• Conclusion 41
• Implication of the study 42
• Recommendation 42
• Limitations of the study 43

Reference                                                                           45

Appendix                                                                           46

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Financial management in the content of local administration is the discipline on the part of the leadership, management and staff of the local government to prepare a realistic annual budget, collect revenue efficiently and put into effective use of the resources of the council in providing socio – economic service to the people of the area at acceptable standard.

The management of financial resources observed shushing, starts with the identification of the financial needs of the local government, and to be followed with the development of strategies for acquiring them, allocating them such that they confer maximum benefits to the community as a whole, ensuring their judicious and most fungal usage, insisting on adequate recording of the transactions and events arising from such usage¹.  Rendering accountability for the actions of these put in position of responsibility as well as the local government as a corporate body in the form required by law and convention².

This research work seeks to review the role of revenue collection strategies in the reformed local government.  it is a generally accepted view that finance is the pivot of activity in any organization, council and individual, social clubs, business concerns and government are no exception to this general tendency.  For an institution to sustain and justify its routines existence, it is a sine qua none that its sources of revenue must be certain and its expenditure cut down within its resources and finally its general administration guided with utmost produce.

It is a fact that many organisations have seized to exist because of poor financing private organistions have been dissolved on the ground that they were not viable.  For this reason the revenue department of the local government is considered to be the life wire of the council because the local government looked upon it for funds to carry out their specific assignments.  The local government revenue department cannot do this without attributing its achievement within the council and the revenue department in particular.  Every group of people that performs near its total capability has some person as its head who is skilled in the art of revenue officer.

1.2     STATEMENT OF PROBLEM

In summary, however, the gretest problem facing this study is the inability to convinece the citizens that money collected is used for lawful purposes and the absence of rightful, honest, and dedicated person tactics in the revenue unit of the council, has affected the revenue unit of the council has affect the revenue collection of the council in general.

 

1.3     PURPOSE OF STUDY

As an engine of social changes and economic betterment, the local government is