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THE USEFULNESS OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF COMPANIES AND IN GUIDING INVESTMENT DECISIONS

THE USEFULNESS OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF COMPANIES AND IN GUIDING INVESTMENT DECISIONS

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

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:  0115939447
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

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.

Enter Amount

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

  • Background of the study
  • Statement of the problem
  • Objectives of the study
  • Significance of the study
  • Scope and limitation of the study
  • Research Questions

1.7     Statement of Hypothesis

1.8     Definition of terms

 

CHAPTER TWO:  REVIEW OF RELATED LITERATURE

  • Basic concepts
  • Points of sales
  • Development of generally accepted accounting principles
  • Profile of the company
  • Analysis of trading accounts of marketing department of the company
  • Analysis of profit and loss account of the company
  • The fund flow statement
  • Profit and Loss Appropriation Account
  • Interpretation of Final Accounts of the company.
  • Evaluation of items with ratios.
  • Auditors report and information.

CHAPTER THREE:  RESEARCH DESIGN AND METHODOLOGY

  • Sources of Data
  • Interview questions
  • Sample Design
  • Method of Investigation
  • Statistical method used for data analysis.

CHAPTER FOUR:

  • Presentation, Analysis and Interpretation of data

4.1     Data presentation

4.2     Data Analysis

4.3     Testing of Hypothesis

4.4     Data interpretation

CHAPTER FIVE:  FINDINGS, CONCLUSION AND RECOMMENDATION

  • Discussion of findings
  • Conclusion
  • Recommendation

Bibliography

Appendix A:  Questionnaire


ABSTRACT

The use of financial statement in any business organization cannot be over emphasized, financial statements are needed by variety of people for different purposes.

For instance, the government needs the financial books (reports) of a company for taxation purposes, the investors want to know how profitable a company is and will be able if the management of the company will like to know the level of their performance, all these cannot be known without the analysis of financial statement of the company or companies involved.

The research work therefore forecast on the usefulness of financial statements in assessing the performance of companies and guiding investment decisions, in order to provide investors, management, government and others what the company is worth.

Finally, the sources of data which are, primary and secondary data which led to the discussion of findings, conclusions and recommendation of the research topic.


CHAPTER ONE

 

  • INTRODUCTION:

1.1     BACKGROUND OF THE STUDY:

A company’s financial statements are analyzed internally by management and externally by investors and creditors.

Management analysis of financial statements primarily relates to parts of the company which enables management to plan, evaluate, and control operation within the company.  Investors and creditors generally focus their analysis of financial statements on the company as a whole, which helps them decide whether to invest in or extend credit to the company.

As a minimum, financial statement will include a statement of source and application of funds.  Having been able to obtain a fair knowledge of the legal aspects of preparing financial statements and having worked examples through basic financial statements of a company, it is reasonable to begin to think of the significance of the futures therein.

His is because except the figure in financial statements will not in itself serve any purpose, the figures in the financial statements are therefore:

  • How well or badly the company is performing.
  • How financially strong or otherwise the company is.
  • How valuable or otherwise the company is in terms of its assets base.

Unless a means is available for being able to obtain the information specified above a financial statement would just be of no substance and use.

In order therefore to interpret financial statements for the proper information of users, there is the need to proper ratio analysis and when to present to management, a number of issues must be considered.

These include:

  • Profitability of the business, operations, particularly in relation to capital employed.
  • Solvency of the firm: The ability of the business to pay its creditors the adequacy of its working capital and the liquidity of its current assets viewed side by side with the current liabilities.
  • The business trend: An analysis of the pattern of business overtime to determine whether profits are rising or falling and the implications for future performance.
  • The gearing and cover: Assessing the adequacy of profits to meet interest payments, pay dividends to shareholders’ investment.

 

  • STATEMENT OF THE PROBLEM:

This research work intends to look into the extent to which investors do carry out and rely on the results of financial statements analysis before making their investment decisions, and the employment by companies of financial statement analysis in assessing their performance and that of their respective management.

EVALUATION OF FACTORS AFFECTING THE CONCEPT OF PROFITABLE AS A GUIDE TO POLICY DECISION

EVALUATION OF FACTORS AFFECTING THE CONCEPT OF PROFITABLE AS A GUIDE TO POLICY DECISION

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

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:  0115939447
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

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.

Enter Amount

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

  • Background of the study
  • Statement of the problem
  • Purpose of the study
  • Research question
  • Statement of hypothesis
  • Significance of the study
  • Scope and limitation of the study
  • Definition of terms

 

CHAPTER TWO

REVIEW OF RELATED LITERATURE

  • Cost
  • Uses of cost data
  • Methods of inventory control
  • Costing methods
  • Costing techniques

 

Chapter THREE

RESEARCH DESIGN AND METHODOLOGY

  • Area of the study
  • Population of the study
  • Sample and sampling determination
  • Instrument of data collection
  • Validation of the instrument
  • Reliability of the instrument
  • Administration of research instrument
  • Method of data analysis

 

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

 

CHAPTER FIVE

FINDINGS, CONLUSION AND RECOMMENDATIONS.

  • Findings
  • Conclusion
  • Implications
  • Recommendations

 

Bibliography

Appendix

 

CHAPTER ONE

INTRODUCTION

1.1  BACK GROUND OF STUDY

According to Harper (1977) the concept of profitability can be defined as the concept which provides management with alternative course of action in accordance with the various degrees of profitability stating clearly in relevant cost account form individual projects which enables management to select the most profitable.

Most of the policy decision of manufacturing industries are generally directed towards profitability. Policy decisions made under this concept has a direct effect of increasing and enhancing the general profitability of the manufacturing industries concerned.

The origin of this concept can be traced back to the era of industrial revolution. Prior to this era, industrial were run as family concerns but with the industrial revolution, most business grew from the usual family arrangement to large groups. Resources were pulled together and handed over to other people to manage for the owner’s.

Naturally, resource owners must expect a profitable returns from the investments, this urgent obligations forced management to seek ways of carrying out their activities so as to make profitable returns to the resource owners. Investment grew in all dimension until the first and second world wars, one would have expected that after the world war industrialization would have been abandoned but as we have seen today, this was fortunately far from being so. Rather a large number of manufacturing industries grew in importance and also in complexity all in a bid to meet the demands and standard set by the developed countries.

Enough quantity of materials had to be bought and at the same time later which is a very vital commodity had to be allowed to operate in a conducive environment so as to enjoy the benefits of hiring labour prior to commencement or an expansion the manufacturing industry must move with the changing technology, meet it social responsibilities, operate under government stipulations, pay tax as and when due and meet the expectations of the shareholders.

High administrative cost, cost of changing technology, fierce competition, scarce resource, falling economy, cost of government restrictions, the need for maximization of shareholders wealth, poor capitalize etc must be accommodated and adjusted in such a way that total cost of manufacturing a product will not only be less than sales renew but give a good profit margin.

This stipulation of operating under many uncompromising variables gave rise to the need for policy  decision on such things as siting an industry.

  • Expansion of an existing industry
  • Introduction of a new product
  • A change in production design
  • Sell or process further
  • Close down.
  • The nature of this research project requires theoretical approach and analysis which will cover the three dimensional focus of the research, the research focus on the three major areas are;
  • The economical factor affecting the concept of profitability as a guide to a policy decision.
  • The Endogenous factor affecting the concept
  • The political factors.

These three combine to give a broader view of the factor affecting the concept of profitability as a guide to policy decision.

The theoretical orient action of what best provides the researcher the framework for analyzing the factors affecting the concept of profitability were.

  1. Theory of location of industry which state that nearness to raw

Materials and available of labour affects the profitability of manufacturing industries. The location of extractive industries for instance depend on where raw materials are to be found. Also mining industries depend on geological, surveys. Agricultural industries depend on side condition and climate. Where the required raw materials are heavy and bulk the industry will be set up near source of raw materials in order to reduce cost.

  1. Theory of nearness to market: Bulking or heavy goods are expensive to transport. Base on this, the theory therefore states that such goods be produced near the market.
  2. Other general economic factors which includes industries requiring thermal heat need to be near local mines e.g. steel industries.

Tensa (1979) said that the endogenous theory which best suite the purpose of the research is the theory of operation management which is of the view that workers have the same objective with that of management which will ensure a responsible attitude towards organization decision making procedure.

  1. On the political factors, the instability of government, restrictions on certain industrial activities were also theories which helped to find out factors effecting the concept of profitability
  2. The theory of marginal costing were in dispensation tools for research.

 

1.2 STATEMENT OF THE PROBLEMS

This research work titled an evaluation of factors affecting the concept of policy decision is meant to solve among other things following problems

  1. a) Effect of policy decision on the profitability concept in some selected industries.
  2. b) Factors of production as a necessary condition for setting up an industry needs to be available.
  3. c) How Government policies affect the concept of profitability.


1.3 PURPOSE OF THE STUDY

The purpose of this study includes the following

T

BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

(A CASE STUDY OF MOBILE TELECOMMUNICATION NETWORK NIGERIA LIMITED’ (MTN), ENUGU STATE)

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

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:  0115939447
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

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.

Enter Amount

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

 

          Budgeting – A systematic approach to profit planning and control is a work centered on the use of budgeting as a tool for planning and control for profit maximization in a mobile telecommunication network Nigeria Limited Enugu as a case study.

The objective of the study is to show the importance of budgeting as a tool for systematic profit planning and control in the mobile telecommunication network Nigeria limited which has profit maximization as its principal objective.

The research is also aimed at identifying the steps adopted in the formulation of annual budget of MTN Nigeria.

Consequent upon this, the following hypothetical question were used for the study.

  1. Managers use budgeting as a systematic approach to profit planning and control in attaining the goals of the business.
  2. Decision making is performed in mobile telecommunication using budgeting
  3. Utilization of resources is achieved with the use of budget and budgetary control

Following the investigation and analysis of data, the following findings were made

  1. The organization uses budgeting in achieving the goals and objectives
  2. The main objective of the organization is profit maximization
  3. Efficiency and effectiveness of the organization is achieved through the use of budgeting.

From the findings, the conclusions were arrived that budgeting is very essential and indispensable tool for profit planning and control.  It helps management to be well structured in sustaining the growth and expansion of the organization.

 

 

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE

1.0     Introduction                                                                       1

1.1     Historical Development of the Firm                                   4

1.2     Background of mobile Telecommunication                       5

Network Nigeria Limited/Present state of Affairs

1.3     Statement of problem                                                         8

1.4     Objective of the study                                                        8

1.5     Research Question                                                             9

1.6     Research Hypothesis                                                          10

1.7     Scope and limitation                                                          10

1.8     Significance of the study                                                   11

1.9     Definition of terms                                                            12

 

CHAPTER TWO

2.0     Literature review                                                                14

2.1     Introduction                                                                       14

2.2     Definition of budget                                                          15

2.3     Types of Budget                                                                17

2.4     The Budget period                                                             20

2.5     Administration of the Annual Budget                                21

2.6     Stages in the Budget process                                              24

2.7     Appraisal of fixed, flexible and other budget                     43

2.8     Planning function                                                              45

2.9     Controlling function                                                          46

2.10   Budgeting control                                                              50

2.11   Variance analysis                                                               51

  • Additional Tool for Budgeting and Budgetary

control: Zero Base Budgeting (ZBB)                                 57

 

CHAPTER THREE

3.0     Research Design and methodology                                    58

3.1     Research design                                                                 58

3.2     sampling technique                                                            58

3.3     Sampling design and population size                                 58

3.4     Sources of data                                                                  60

3.5     Interview questions                                                            60

3.6     Method of data analysis                                                     60

 

CHAPTER FOUR

4.0     Presentation, Analysis and Interpretation of Data              63

4.1     Analysis of questionnaires returned                                   63

4.2     Hypothesis testing and proofing                                                  71

 

CHAPTER FIVE

5.0     Summary of findings recommendations and conclusion    77

  • Summary of findings 77
  • Recommendations 79
  • Conclusion 80

Bibliography                                                                      81

Appendix                                                                           83

 

 

CHAPTER ONE

 

  • INTRODUCTION

The growing complexity of the business environment and the ever increasing competition among firms in the modern time, make planning an invaluable tool for business success.  Successful management is no longer just a matter of flair, skill and determination, a conscious effort is needed to harness available resources towards the achievement of enterprise objectives.  Budgeting is one of the tools adopted by management for effective cost planning and control.

A budget is commonly understood  the forecast by a government, organization nor society of its expenditures and revenues for a specific period of time.  The  period covered  by a budget is usually a year known as financial year.  Budgeting is concerned with the utilization of financial resources to serve human needs.  Although a budget may be characterized by a series of goals with price tags attached.  It is mainly a mechanism for making choices among alternative expenditure.  When such are coordinated so as to achieve desired goals, the budget becomes a plan.  If there are specifications on how the goals are to be achieved, the budget becomes a psychological device to make administrators thin.  If however, the emphasis is placed on achieving the desired objective at the lowest possible cost, then the budget is an instrument for ensuring efficiency.

An enterprise which is effectively and efficiently managed produces good and rewarding result.  Management is efficient if it is able to accomplish the objectives with minimum efforts and costs.

Profit planning and control or budgeting is an integral part of management.  The financial manager has a particular interest in profits planning and control because he helps to regulate flows of funds which is his function.  The decision making process of management starts with planning.  ‘Planning is the design of a desired future and of effective ways of bringing it about.  In other words, planning involves the determination of the future course of action for accomplishing the objectives of the enterprise.  The basic purpose of planning is to provide guidelines for making decisions. It is a forward process to reducing uncertainty about the future.

Planning is a continuous process which would generally involve four fundamental steps.

  1. Establishing the objectives
  2. Determining the goals
  3. Developing strategies
  4. Formulating profits plans or budget.

Objectives are the statements of broad and long term desired state or position of the enterprise in the future. They are directional and motivational in nature and are generally the qualitative expressions of the desired future state.  For instance, the primary objective of an enterprise may be customers satisfaction, employee welfare, long-run- survival which depends upon the maximization of the long-run profit, that is wealth maximization.

Goals represent the operational specifications of the broad objective with time and quantity dimensions.  Goals are the quantified targets to be attained within a specific period e.g. long run profit maximization in order to increase the market value of the firm to shareholders is the broad objective of the firm.  But the goal for the next year may be to earn a 20% after tax profit on investment or a 5% profit on sales.

Strategies specify the ways of achieving the goal operationally.  For example, the strategies of a firm may include the use of retained earnings for expansion, keeping debt at a reasonable level, expanding sales through price reduction and aggressive advertisement.  Financial plans may take many forms, but any good plan must be related to the firm’s existing strength and weakness.  The strengths must understood, if they are to be used for proper advantage and the weakness must be recognized if corrective action is to be taken.

Finally, the formalization of objectives, goals and strategies for operational purposes is called the profit planning or budgeting.  It is called the profit plan or budget because it explicitly state the goals in terms of time expectations and expected financial results for each major segment of the entity.

 

1.1     HISTORICAL DEVELOPMENT OF THE FIRM

It is important at this point to review briefly the history of the company mobile telecommunication Network Nigeria Limited (MTN).  It was incorporated in Nigeria on November 8. 2000 as a private company.  It secured a license to operate digital (Global system for mobile telecommunications GSM) telephony on February 9 2001, from the Nigerian communications commission.  On May, 2001, MTN emerged as the first to make a call on its GSM network in the new dispensation. Thereafter, the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt in the company now provides coverage to 85 cities and well over 5,000 communities and villages, spanning every geo-political zone and 31 of Nigeria’s 36 states.

It is the first to erect a country wide microwave radio transmission backbone, offering unrivalled value for money evidenced by a loyal customer base attracted by MTN’s convenience, mobility, roaming on 30 international networks and economical Tarrifs.  MTN’s product and services are available at its friendship centres and a nationwide network of dealership, banks and convenience channels including entries, petrol stations and neighourhood stores.

 

  • BACKGROUND OF MOBILE ELECOMMUNICATION NETWORK NIGERIA LIMITED/PRESENT STATE OF AFFAIRS

The company through systematic planning and control represents several millions of Nara in investment.  The company as at May 31, 2004, had a total of 21 mobile switching centres and over 940 radio base stations across the country. Several more are in the process of being installed.  On January 20, 2003, MTN commissioned the first phase of its digital microwave transmission backbone, Y’ello Balm.  Constructed  at a cost of $120 million.  Y’elloBalm is Africa’s most extensive transmission infrastructure and has significantly helped to enhance call quality on MTN’s network.  Y’ello Balm spans 3,400 kilometers and traverses over 120 cities, villages and communities; while coverage has been extent to more than 90 major towns and a total of over 5,000 villages and communities across Nigeria.  The second phase of Ye’llo Balm is currently on going and will spand another 4,500 kilometers.

MTN subsists on the core brand values of leadership, integrity, innovation, relationships and a ‘can do’ attitude, a passionate optimistic focus on the future.  It prides itself on its ability to make the impossible possible – connecting people with friends, family and opportunities.  The ownership structure is currently as follows:  Mobile telephone Networks International Limited 76.44%

Nigerian partners                       20.56%

International finance corporation and infrastructure investment arm of the world bank                      3%

100%

TECHNICAL ASSISTANCE/COMEMRCIAL SERVICE AGREEMENT

          The company is technically supported by Nami Tech in south Africa who doe the prepaid voucher and supplier to MTN.

COMPAY’S CONTRIBUTION TO NIGERIA ECONOMY

               MTN currently employs more than 1,200 Nigerians.  In addition, more than 160 Nigerian companies are currently MTN distribution partners.  Of these, more htan 25 are banks, many of which have spun off subsidia

THE IMPACT OF FINANCIAL ACCOUNTING ON THE CORPORATE PERFORMANCE OF BUSINESS ORGANIZATION

THE IMPACT OF FINANCIAL ACCOUNTING ON THE CORPORATE PERFORMANCE OF BUSINESS ORGANIZATION

[A CASE STUDY OF NIGERIAN BREWERIES PLC]

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

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:  0115939447
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

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.

Enter Amount

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

How to transfer from your bank account to All  Nigeriabanks

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 research work “The impact g onofthe Finance  corporate performance of Business Org ascertaining how financial accounting reporting has helped in advancing the objectives of corporate organizations. In the process, it investigated the effected that financial accounting bear on the performance of a business. Furthermore, if sought to ascertain the compliance of relevant statues by corporate organizations and the overall satisfaction of stakeholders in a corporate organizations. The study obtained its data basically from primary and secondary sources. The primary sources of data collection employed were questionnaire, oral interview and observations, while the secondary sources of data included textbooks, journals. in the analysis of the data collected, the chi-square was used to analyze the responses gathered. The study revealed that a loot of problems were inherent in financial reporting ranging from non-disclosure of vital information, subjective judgments of prepares of the financial information and most times non-compliance to relevant statues. There were recommendations given such as strict compliance to the relevant statute were made to the companies, the government needs to strengthen its regulatory agencies in order to ensure

 

that the financial statements show a “true and fair view a relevant statues at all times.

 

CHAPTER ONE: INTRODUCTION

 

 

1.1   Background of The Study: ———————————————1

 

1.2   Statement of The Problem: ——————————————– 3

 

1.3   Objective of The Study: ———————————————— -4

 

1.4   Research Hypotheses: ————————————————– 6

 

1.5   Significance of The Study: ———————————————-7

 

1.6   Scope of The Study : —————————————————– 8

 

1.7   Limitation of The Study: —————————————————8

 

1.8   Definition of Terms: ——————————————————— 9

 

1.9   reference: —————————————— ————————–10

 

CHAPTER TWO: REVIEW OF RELATED LITERATURE

 

2.1  Overview of the financial Accounting System: ———————–11

 

7
2.2 Financial Accounting Records: ——————————————- 11
2.3 The Subsidiary Books the General Journal (proper) —————- 12
2.4 Source Document: ———————————————————– 17
2.5 The Ledgers: ——————————————————————- 19
2.6 Classification of Accounts: ————————————————— 19
2.7 The Trial Balance: ————————————————————– 20
2.8 The Trading Profit and Loss Account: ————————————- 20
2.9 The Balance Sheet: ———————————————————— 21
2.10 Principles and Assumption Underlying Financial Standards: ——– 21
2.11 Accounting Standards: ——————————————————– 28
2.12 Controversial Issue in Financial Accounting Reporting: ————– 31
2.13 Cross Sectional Analysis of Selected Companies in Enugu State: -36
2.14 Brief History of the Companies: ——————————————— 36
References: —————————————————————————- 45
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design: ————————————————————– 47
3.2 Sources of Data: ————————————————————— 48
3.3 Method of Data Collection: ————————————————— 50
3.4 Determination of Population Size: ——————————————- 51
3.5 Determination of Sample Size: ———————————————– 51

 

8
3.6 Method of Administration and Questionnaire: —————————–52
3.7 Method of Date Analysis: —————————————————— 53
3.8 Decision Rule: ——————————————————————— 54
Reference: ——————————————————————————– 56

 

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND

 

INTERPRETATION

 

4.1  Date Presentation: —————————————————————57

 

4.2  Data Analysis: ——————————————————————– 58

 

4.3  Hypothesis Testing: ————————————————————-69

 

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND

 

RECOMMENDATIONS

 

 

5.1   Summary of Findings: ———————————————————- 84

 

 

5.2   Conclusion: ————————————————————————85

 

 

5.3   Recommendation: —————————————————————-86

 

 

Bibliography:——————————————————————– —87

 

 

Appendices: ———————————————————————–89

 

 

CHAPTER ONE

 

 

INTRODUCTION

Background of the Study

The impact of financial reporting on the corporate performance of a business organization is becoming more apparent to user groups of a financial statement. Accounting is a not an exact science neither are business operations without some subjective and judgmental errors when it comes to reporting them. A financial reporting therefore is a document statement which informs the various interest groups to a business on the operations and performance of their business in a period under review its present state of affairs as well as its anticipated future, in accordance with the statutes. If a financial report is to service its purpose it ought to be characterized by the following.

 

  1. Relevance

 

  1. Understandability

 

  1. Reliability

 

  1. Completeness

 

  1. Objectivity

 

  1. Timeliness

 

10

 

 

In the accounting process of an organization is to provide the information required to prepare a financial report which shall have the above characteristics then the transaction doing the period must be recorded prompt by and accurately and interpreted in conformity with the Generally Accepted Accounting Principles (GAAP), Statements of Accounting Standard Board (NASB), International Accounting Standard committee and the companies and Allied Matters Act cop LFN (CAMA) Financial accounting reporting become necessary with the obvious need for accountability of stewardship from the managers to whom investors entrusted their financial resources. The Railway age in the UK. Occurred between 1830 to 1870 and for the first time the world same the emergence of multimillion corporations with large numbers of shareholders. It was a period of disorder but it brought the basis for the present day system of corporate financial report. Financial reporting is a duty of stewardship assigned to the directors of a company by section 334 of the company and Allied Matters Act Cap L20 LFN, equally the mandatory responsibility of companies to keep accounting records derives its strength from section 331 and 382 of the same act. These sections explicitly defined the necessary content and manner in which financial records should be kept.

  • STATEMENT OF THE PROBLEM

The            study   “The   impact   of   Financial

performance     of   business   organization”

reports of selected companies in Enugu State with a view to determine the

following ;

 

 

  1. The extent to which a standard financial report contributes to or detracts from the growth of a business organization.

 

  1. The extent to which the financial reports of corporate business organization comply with statutory provisions.

 

  1. The uniformity and conflict which exist in the financial reporting regulations given the multiplicity of regulators.

 

 

Therefore, bused on the above statements, the researcher shall investigate the financial accounting reporting standards and every regulation th

 

EVALUATING THE EFFECTS ELECTRONIC DATA PROCESSING IN COMMUNITY BANK.

EVALUATING THE EFFECTS ELECTRONIC DATA PROCESSING IN COMMUNITY BANK.  (A CASE STUDY OF EMENE COMMUNITY BANK ENUGU STATE)

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

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:  0115939447
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

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.

Enter Amount

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 banking sector has proved a very reliable tool in the development of the nation’s economy and also in the management of individual finances.  However, the distress in the banking system has drastically reduced public confidence and interest in the institution hence, community bank patronage continue to dwindle to a surprising point.

Under this negative development, the banks now rely greatly on the effectiveness of electronic data processing system for survival.

It is therefore, the scholarly need to examine the functional ability of electronic data processing system in community banks that prompted this topic.

For the purpose of this study, the researcher tacked this research work from the following perspectives.  In the first plane, the broad work was divided into five chapters.

The first chapter treated the background of study, the statement of problem, purpose of study significant of the study, including research hypothesis.

Furthermore, chapter four carried the data presentation and analysis, discussion and findings embodying the needs for the electronic data processing system.

Finally, the last chapter contained the conclusion, the necessary recommendations and of course, the areas for further research.

It is therefore evident data processing system in grass root, banking.  The study also showed that banks apply EDE techniques in their daily operations for enhance productivity.

 

 

CHAPTER ONE

1.0     Introduction                                                                       1

  • Background of the study 1
  • Statement of problem 2
  • Purpose of study 3
  • Significance of study 7

 

CHAPTER TWO

2.0     Literature review                                                                9

CHAPTER THREE

3.0     Research methodology                                                      19

  • Areas of the study 20
  • Population of study 20
  • Sample and sampling technique 20
  • Instrument of data collection 21
  • Validity of instrument 22
  • Reliability of the instrument 22
  • Method of administration of the instrument 23
  • Method of data analysis 23

 

CHAPTER FOUR

4.0     Data presentation and analysis                                           25

  • Discussion of findings 45

 

CHAPTER FIVE

5.0     Summaries, conclusions and recommendation                   47

  • Summary of Finding 47
  • Conclusion and Recommendation 47

BIBLIOGRAPHY                                                             50

APPENDIX                                                                       54

   

CHAPTER ONE

INTRODUCTION

This chapter gives to the paper.  As we can get the insight from the paper preview/abstract, the paper treaties on the need for electrification or computerization of the Emene community bank (A community bank in Emene Enugu State).

Under this veil the paper will  present:

  1. The background information or the historical background of the bank in question.
  2. The general survey of the environment.
  3. Coming to the area of the chapter preview, we discuss the nature of community bank in its entirely.

 

THE ADVENT OF COMMUNITY BANK IN NIGERIA

Without moving into details or digressing form the targets, community banking system is a novelty of the latest decade of the 20th century.  The idea was affected with the establishment of the community bank implementation committee (CBIC) in 1990 under the authority of General Ibrahim Badamosi Babangida.

The committee issues licenses to community banks that led to its explosion as at now.  It is a variant of retail banking setting and can be owned by either a person or group of individuals within a locality state.

Accordinn to Ayara Ndiyo – university of Uyo, the community bank is a representative as well as a reflection of credit and thrift co-operative societies in Nigeria.  He said that many co-operative societies in Nigeria metamorphosed into banking setting with the advent of General Babangida license liberalization in 1991.

 

1.1     BACKGROUND OF THE STUDY

Background of Emene community bank.  This bank started in 1992.  they have individual shareholders, Emene development association and co-operate of shareholders like organisation establishment.  Rev. Father Ede is there chairman.

Without mixing words, the bank was established to give banking services to the door step of the populace such services as accepting of deposit, giving of credits save guiding of valuables and important documents, payment to creditor serving as a trustee to the community pursue, serving as referee in case of setting of commercial land and community related financial matters.

The advantages of the electronic data processing coupled with the universal banking and globalisation are myriads in nature and cannot be elicited hastily.  As a matter of reflection, the advantages of the electronic data processing system (EDPS) will be given in the chapter two of this work  piece having gotten historical backdrop of the setting in question, we are moving to the General survey of the Emene community bank – banking environment in its entirety.

 

1.2     STATEMENT OF PROBLEMS

There are clouds of doubts about the importance of electronic data processing. Many people are in support of this innovation in data processing while others trample on it.

In this bid, Harold Hill in his book  ”Computer Technology (1995-115), averred that the electronic data processing is a new discussion in data processing which is most labour-saving.

The work lends to test whether the other method of data processing meet the mileage of EDP.  Also it tries to check the chromic need of SDP in the grass root banking service (ie. The community bank).

In putting all we have said in a nutshell electronic data processing (EDP) system has some needs and mileages over other method of data processing of which this paper will x-ray the true fact concerning the clouds and doubts therein.

That is to say that the research study is concerned with evaluating the effect of the use of electronic data processing system in community banks.

Critically, the research will try to