THE ROLE OF FISCAL POLICIES IN THE DEVELOPMENT OF NIGERIAN ECONOMY (A CASE STUDY OF CENTRAL BANK OF NIGERIA)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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
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form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  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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ABSTRCAT

 

This research work was undertaken in order to evaluate the role of Fiscal policies in the development of Nigeria economy. A major issue in Nigerian economy recovery relates to the prospect of adoption of the most relevant fiscal policies in its economy. In view of this, the researcher addressed the following problems to be curbed in this research study.

1. Lack of required component of fiscal policies
2. Inconsistency in the use of fiscal policies.

• Improper implementation of fiscal policies

1. Inability of the country to improve on existing fiscal policies.

Due to the nature of this research work, ordinary method of data analysis and interval method were used. Both primary and secondary data were used. Secondary data were gotten from Newspapers and magazines, textbooks, journals and periodicals etc. questionnaires were used in generating primary data.

From the analysis made, the researcher discovered that between 1998 and 2000 fiscal years, the country has witnessed many changes in its fiscal policies which are hinged on the combination techniques applied on the components of fiscal policies, the mode of implementation of fiscal policies and the degree  of success in the implementation of process.

Based on the findings made in this research study, the researcher recommends that the country should embark on the following in order to develop its economy.

1. The depreciation of naira must be urgently considered.
2. There should be stream – lining of activities of certain government amend agencies

• The government should make further fiscal adjustments.

 

 

TABLE OF CONTENT

 

CHAPTER ONE: INTRODUCTION

• Background of the study
• Statement of the problem
• Objectives of the study
• Major research hypothesis
• Scope and limitation of the study
• Significance of the study
• Definition of terms.

 

 

CHAPTER TWO: LITERATURE REVIEW

• History of fiscal policies in the Nigeria pre-independence
• Definition and meaning of fiscal policies
• Difference between fiscal and monetary policies
• Tax as a tool of fiscal policy
• Expenditure in fiscal policy
• Tax and expenditure in fiscal policy
• Limitation of fiscal policy implementation
• The role of the central bank in the formulation and implementation of fiscal policy.

 

CHAPTER THREE

• Introduction
• Research design for the study
• Sources of data
• Methods of data analysis
• Population and sample size
• Design and administration of questionnaires

CHAPTER FOUR: PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

• Introduction
• Presentation of data for 1998 fiscal year
• Analysis of data for 1997 through 1998 fiscal year
• Analysis of the federal government revenue and expenditure of 1999– 2000
• Analysis of the state of the economy (1999 – 2000)
• Interpretation of data.

 

CHAPTER FIVE: SUMMARY AND DISCUSSION OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS.

• Introduction
• Discussion of findings
• Summary of findings
• Conclusion
• Recommendation

Questionnaire sample.

Bibliography

CHAPTER ONE

 

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The economy of any country, irrespective of its structure is regulated by certain policies developed by the government. Some of these include economic policies, social policies, monetary policies etc. however of all these policies economic policies are most fundamental. The economic factors are cynical because they serve as a foundation for the success of the other policies of government. The constituent element of these economic policies need to be manipulated simultaneously to achieve the desired results. The techniques of manipulating the economic factors play an important role two. One of the essential arms of economic policies – the fiscal policy, serve as a means of planning, organizing, controlling and coordinating the tempo of activities in the economy. Fiscal policy in itself can be said to be made up of specific course of action involving the formulation of tax structure and expenditure patterns. The direction of these expenditures and taxes are specific in nature for results or changes. Before the world war, fiscal policy as a key to economic restructuring and development has been in existence. Many economists had propounded theories as a means to economic prosperity from the destruction of the world war, but in the early 20the century, Lord John Keynes put forward on articulated and constructive solution to solving economic problem. Lord Keynes in his book explain that the revamping of an economy could be achieved through the redirection of government expenditures from war machines to soft loans to increase investment, generate employment and consequently increase aggregate demand as a means of getting hold on the hyperinflation that existed after the Second World War.

In Nigeria, the earliest known forms of fiscal policies were used. It was established as far back as 19th century by the British Administration. Then the political system became complex due to the existence of the indigenous government under Emirs, Obas, Obongs, Obis etc. along with the colonial masters. In effect, payment for the administration of the country were made to the British government.

The government policy used by the colonial masters on revenue for development was adopted from Dr. Earl Grey report (1852) in which he advocated economic development amongst civilized people. Through self determination under the British supervision. Because of the existence of local authorities which led to indirect rule policy, the policy suited Nigeria. The revenue generation method which was based on duties paid on imported goods was pursued because it avoided disruption of the indigenous social and economic system and its incidence did not directly affect the average Nigerian. Besides, revenue from duties the British government support however, began to dwindle due to increase public criticism in Britain against spreading of Brutish influence in West Africa. 1870, the government supplement stopped and was reduced from #5,000.00 to #2,000.00 to #1,000.00 in 1862, 1863 and 1865 respectively. The expenditure was solely directed towards improving the comfort of the British officers and the maintenance of law and orders. These and then. The revenue and expenditure volume also increase considerably well into the 20th century. Considering this modern time, fiscal policy as a means of economic development are not developed in isolation. They are formulated and implemented simultaneously with monetary policies, foreign policies by the government with the aim of having a synchronized approach in tackling economic problems. The generally accepted fiscal policy measure incorporates welfare economics as a means of reducing adverse effects that may arise thus reducing the standard of living of the citizens of the country.

From the foregoing, this research is aimed at identifying the role of fiscal policies in the development of Nigerian economy.

 

1.2     STATEMENT OF THE PROBLEMS.

Fiscal policies can be valuable tool for economic growth and development if accurately and timely implemented. Therefore by the end of this project the following questions will be answered.

ACCOUNTING SYSTEM OF CO-OPERATIVE SOCIETIES IN ENUGU NORTH LOCAL GOVERNMENT AREA

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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.   

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ABSTRACT

Most critics hold that there are paucity of accounting records maintained by co-operative societies.

This study therefore investigate the level and the adequacy of accounting records of co-operative societies.  To determine this, the fundamental objective of the study among others are.

1. To identify and disclose whether adequate accounting records are kept by co-operative societies.
2. To determine the impact of the present level of accounting record’s on profitability and viability of co-operative

The entire cooperative societies in Enugu North local government area (registered) was the study population from which 98 was selected. A set of structured questionnaire was administered to the sample out of which 72 responded.  Oral interview were also used to collect useful data and information which could not have been portrayed by the questionnaire.

The collected data were classified, analysed and interpreted by the use of tables, percentage, product moment of correlation and chi-square (test of goodness of fit) was used in testing the hypothesis.

From the analysis of data the major findings are that.

1. co-operative societies do not really maintain adequate accounting system.
2. There is weakness in the internal control system of co-operative societies.
3. Co-operative societies make use of their members as their accounting staff usually the secretary.
4. Most co-operative societies do not company with the established accounting standards.
5. The present level of accounting records in co-operative societies affect the profitability and viability of co-operative societies.

Based on the findings some of these recommendation were made.

1. co-operative societies should employ experienced competent and trained accounting staff to improve their accounting system.
2. The accounts of co-operative societies should be audited by external auditors like corporate organization.

• The management of co-operative societies (committee) should receive management training and also every member of the co-operative should be educated.

CHAPTER ONE

INTRODUCTION                                                                     1

• Background of study 1
• Statement of problems 2
• The objective of the study 2
• Research hypothesis 3
• Significance of the study 4
• Scope and limitation of the study 5
• Definition of terms 6

CHAPTER TWO

 LITERATURE REVIEW                                                         9

• Definition of Accounting 10
• Objectives and importance of accounting information 12
• Importance of accounting 14
• Definition and meaning of accounting

system/composition of system.                                          17

• Accounting system. 18
• Importance of maintaining adequate

accounting system                                                             23

• Definition and meaning of co-operative societies 26
• Origin of co-operative society in Nigeria. 30
• Problems of co-operative societies 32

CHAPTER THREE

RESEARCH METHODOLOGY                                              34

• Sources of data 34
• Sample use and determination of sample size 35
• Method of investigation 36

CHAPTER FOUR

• Presentation and analysis of data 37
• Data analysis 37
• Test of hypothesis 48

CHAPTER FIVE

• Findings 57
• Conclusion 59
• Recommendations 60

Bibliography                                                                      62

Questionnaire                                                                    64

CHAPTER ONE

 

INTRODUCTION

Co-operative societies are part of the aim of government, they are nutured by the government the government believe that through co-operative societies that the standard of living of the masses will improve.  They are meant to enhance the economic and social well being of the populace as this will help to record economic growth and subsequent development, that is why the government sponsor and run some of the activities of co-operative societies. For instance the government employ co-operative field staff to disseminate the gospel of co-operation, to nuture co-operative by giving them directives and prepare them for registration and also to audit the accounts of co-operative, societies.

Co-operative societies are business organization though in the class of non profit seeking form of business organization whether a business is profit oriented or non profit oriented, it should hare an accounting system.

Against this background, this research is designed to study the accounting system of co-operative societies how the information presented by the accounting system is utilized.  Ie whether it is used in making decisions for the businesses.

 

• STATEMENT OF PROBLEMS

Some of the problems attendant to co-operative societies which militated against the accounting system of co-operative societies in Enugu North local government area are as follows.

1. Paucity of accounting records and information
2. Lack of fund to employ trained accountant to manage the accounts of co-operative societies.
3. lack of management education to the committee members who are managers of the societies and the general members who potential committee members.

 

• THE OBJECTIVES OF THE STUDY

The

THE ROLE OF AN ACCOUNTANT IN THE POVERTY ALLEVIATION PROGRAMME OF THE FEDERAL GOVERNMENT (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT AREA).

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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

 

ABSTRACT

          This project work was on the role of the accountant in poverty alleviation programme of the federal government with particular note on Enugu North local government area.

The objectives of the study among others were: To determine the role of the Accountant in the poverty alleviation programme of Enugu North local government area.

To determine whether the role of the accountant is of relevant in the planning of programmes and policies of the poverty alleviation programme in Enugu North local government area.

In view of this an indepth literature, review was carried of related materials, journals, and text books, Beside, data were elicited through the use of Questionnire and oral interview conducted.

These data were analysed and presented using statistical technique such as tables and percentages.  The data was used to test the three hypothesis formulated.

Based on the data analysed these findings were made:

It was discovered that the poverty alleviation programme was geared towards, providing food, security, reducing unemployment and increasing the standard of living of the citizens.

Inspite of the rigorious effort by the three tiers government and the huge sum that has been spent so far, the impact is yet to be felt even in Enugu North Local Government Area.

It was discovered that the local government authorities particularly the poverty alleviation committee have made contentious effort towards mobilization of savings by intermediating between those that have the needed resources (donors) and those that need then (grassroots).

In the light of these findings recommendation were also made which include:

Enlightment campaign programme aimed at informing and educating the citizens and individuals domiciled within Enugu on the relevance benefit and right attitude towards poverty alleviation programme.

Periodic account audit should be carried out semi annually in other to determine the amount and the effect of funds disbursed courtesy of the poverty alleviation programme.

There should be proper integration and role definition with particular emphasis on the place of the accountant in other to guarantee maximum result which will invariably lead to a noticeable impact of the programme at the grass root lead.

The researcher strongly believe that if the measures are taken it will help to create positive impact of poverty alleviation programme at the grass root level.

CHAPTER ONE

• Introduction 1

1.1     Purpose of the problem                                                     2

• statement of the problem 4
• objectives of the study 6
• research hypothesis 7
• scope / limitation of the study 8
• significance of the study 9
• Definition of terms 10

CHAPTER TWO

• Review of related literature 12

2.1     Nature and scope of accounting                                         12

• Qualifications of an accountant 17
• The functional role of an accountant 21
• Benefits 23
• The poverty alleviation programme

of the federal government.                                                 24

CHAPTER THREE

• Research Methodology 30

3.1     Sources of data                                                                  30

• Research instrument 31
• Population of study 32
• Sampling technique 32
• Determination of sample size 33
• Validation of instrument 34
• Test statistics 35

CHAPTER FOUR

• Introduction 36

4.1     Data presentation, analysis and interpretation          36

• Test of hypothesis 46

CHAPTER FIVE

• Introduction                                         51

5.1     Summary of findings                                                         51

• Recommendation 53
• Conclusions 54

5.4     Suggestions for further studies                                          54

Appendix I Questionnaire                                                  55

Appendix ii Bibliography

CHAPTER ONE

 

• INTRODUCTION

The need to develop micro economic activities that could enhance self reliance as a strategy for educing poverty became paramount that the three tiers of government (federal, state, and local) came up with various initiatives.  Among these were programmes and policies that aimed at:

• Stimulating economic growth through the engagement of semi-skilled and unskilled labour in productive activities.
• Immediate reduction of social vices and tension in the society by removing idle hands from the streets.
• Engage the unemployed in direct activities as a variable means of reflecting the economy.
• Improve the environment latest environmental degradation
• Minimize rural urban drift through the improvement of rural communities.
• Committing the fund to direct benefit of the participants rather than on services or overheads.

To achieve these, machineries must be put in motion with competent professionals from various fields of endeavour to plan, implement, monitor and control the programmes and policies.  Among these is the role of the accountant.

 

• PURPOSE OF THE PROBLEM

Among the major problems that have played the socio-political and economic life of developing nations are gross unemployment of her teeming population and poverty.  Among these nations include our country Nigeria.

Poverty in Nigeria is pervasive.  About 60% of Nigerians live below the poverty line.  Available statistics shows that only 50% of the population have access to safe water.  About 38% of the population do not have access to primary health care, while most Nigerians consume less than one third (1/3) of the minimum required protein and vitamins in take due to low purchasing power.

These incidence were conpounded by over two decades of political instability, macro economic policy inconsistencies, low capacity utilization in indusories and the massive turn out of school leavers and graduates by institutions of higher learning.

Suffice it to say that despite these, for three decades after independence, unemployment and poverty were not a national state or local concern in Nigeria as it is today.  However on inception of office in May, 1999, the Obasanjo administration took upon itself the major task of redressing the twin problem of poverty and employment generation.

To this end therefore, the government with a high sense of commitment made a provision of  #10billion for the creation of two hundred thousand jobs in the year 2000.

Worthy to mention was the fact that governments desire to eradicate poverty was born out of the conviction that the incidence of poverty and unemployment have assumed a dimension that is socially, economically and politically unacceptable.  To this end therefore, all hands must be on deck including not only the three tiers of government but also professional bodies and competent individuals among these includes the role of the accountant.

The accountant performs the accounting function which involves the process of identifying, measuring, recording and communicating the economic event of an organization (business or non-business, government of non-government) to the process identification involves selecting those events that are considered as evidence of economic activities relevant to a particular entity.  (Wey Gandt, 1993).

Once identified, the economic events must be measured in financial terms, that is quaritified innaira.  If the event cannot be quantified in monetary terms, it is not considered part of the organization financial information system.  The measurement function thereby eliminates some significant events because they lack measurability in financial terms.  These and many more are some of the functional roles of the accountant even as it applies to the poverty alleviation programme of the federal government.

 

1.2     STATEMENT OF PROBLEM

The importance of the accountant or the accounting profession can not be over-emphasized.  This stemmed from the fact the success of an organization lies very much on effective and effectual planning, implanting,

FINANCIAL STATEMENT: A TOOL FOR EVALUATING PERFORMANCE OF COMPANIES AND INVESTMENT DECISION WITH REFERENCE TO BEING AND BOWS NIGERIA LIMITED.

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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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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.   

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CHAPTER ONE

INTRODUCTION

• Background of the study
• Statement of problems
• Objective of the study
• Significance of the study
• Historical background of the firms under study

Note

 

CHAPTER TWO

LITERATURE REVIEW

• Financial information and its users
• The nature of financial accounting conventions
• The concepts and conventions
• Development of generally accepted accounting principles
• A review of working capital
• The contents of financial statement
• The statement of souces and application of fund
• The auditors report on financial statements
• Cash burgets
• Financial analysis
• Finaancial ratios
• Empirical studies on ratios as predictive of business
• Leverage in business

Notes

 

 

CHAPTER THREE

• RESEARCH METHOD AND DESIGN
• Sources of data collection
• Primary sources of data collection
• Secondary sources of data collection
• Data collection and procedures
• Analytical techniques
• Determination of sample size
• Validation of research instrument

 

CHAPTER FOUR

ANALYSIS AND INTERPRETATION OF DATA

• The balance sheet of benix
• Analysis of financial statement of benix limited and its interpretation
• The balance sheet of bonus limited
• The profit and loss account of bonus limited
• Analysis of the financial statement of bonus limited and its interpretation
• Presentation and analysis of data

CHAPTER FIVE

• Summary findings, recommendation and conclusion

5.1     summary of findings

5.2     recommendation and conclusion

Bibliography

Vita

Questionnaire

CHAPTER ONE

 

INTRODUCTION

• BACKGROUND OF THE STUDY

Recent researchers have been shown that one of the main causes of indigenous business failure in this country is failure to maintain proper financial records.  Many business have been operated with merely a single entry memorandum record of transactions and others with no records whatever, except possible cheque stubs.  As a result, business decisions are based on quesses and intruition. Ola (1985).

In todays economy information and accountability have assumed a larger role in our society.  This is why it is statutory company and allied matte decree (1990), for all registered companies in the country to prepare and present financial statements in accordance to the relevant accounting regulations.

Business organizations have to analyze their financial statements or accounts by way of interpretation, simplification and transaction of facts and data contained in the financial statement.

The essence of this is to draw relevant conclusions, make inference as to the business operations financial positions and future prospects of the organizations.

In the assessment of the performance of an organization, an imfortant area of management control is post factor assessment of financial results of the organization as a whole, that is the examination in retrospect of the financial effects of earlier decisions to invest.  Management must reoularly commit resources for both long term and short term purposes and because the commitment will always involve risk, or cargul assessment of the anticipated results of any project on the financial position should be made before a decision is taken, and before resources are irrevocably committed.

A periodic evaluation is needed, after resources have been invested, to report what has been achieved, to examine amount of the profit, or the extent of the loss, and to consider the effect of implementing the plan on the financial statement of the business, in particular to note whether financial stability has been maintained or alternatively the extent to which it has been impaired.  Information on all these aspect of the finances of the business is needed to permit management to assist the quality of past decisions at strategic level and the effectiveness with which they have been implemented.  Finally, it is important that informed base of financial knowledge should be developed from which future activities can be planned.

An important purpose of the appraisal of results is to confirm whether or not the project has produced the expected cash flow.

The main function of the financial account of a business however is to measure the results in terms of profitability and it is on the basis of success or failure measured in these terms that management will be juged.

In carrying out an analysis of accounts, a number of issues must be considered and conclusion formed thereon.

These includes:

1. Profitability of the business operation, particularly in relation to the capital employed.
2. Solvency of the firm: the ability of the business to pay its creditors, the adequacy of its working capital and the current liabilities.
3. the business trend: the analysis of the point term of business over a time to determine whether profit are rising or falling and the implication for future performance .
4. The financial stability of the business, particular attention being paid to the firm’s limit of borrowing power, available resources to finance expansion and the volume of earnings.
5. the gearing and the cover which is an assessment of the adequacy of profit to meet up with interest payments, pay dividends to share holders and provide sufficient safety to share holders investment.

 

• STATEMENT OF PROBLEMS:

In Nigeria today most business are facing hard times which is a reflection of the bad shape of the economy.  Government on its own has been making different efforts aimed at reviving the economy.  Among the government efforts are the encouragement  of the growth of small and medium term industries and also for people to invest in some of the public enterprises that have been stated for either full or partial privatization or commercialization.

Unfortunately, business cannot grow reasonably under a crude business practice as most business men and investors in our society are yet to understand the need for financial statements probably, this is one of the reasons why some businesses are operating without even a book-keeper not to talk of an accountant.  Decisions are taken based on intuition dereferences made only to their cash –box perhaps they feel that this is a way of safe wording their business secret.

Secondly is the problem of loan securing.  Most businesses operate with a very poor capital.  This makes growth difficult, if not impossible.  Instead of growing they are declining as the result of their poor capital base :& so as there is non-existent of financial statements, they are not qualified for bank loan.

Thirdly is the some investors and business operators can not understand the interpretation technique of the financial statements, because of this

INFORMATION TECHNOLOGY AND THE PERFORMANCE OF THE NIGERIAN STOCK EXCHANGE

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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
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CHAPTER ONE

1. INTRODUCTION
   1. BACKGROUND OF THE STUDY

The use of computer in business transaction is growing day by day and it is widely use. It is common in most part of the country and the world itself is becoming a global village. Information technology most especially in the area of computer and communication network has incorporated in most all aspect of business activities today. It has been found to be effective, efficient, fast and reliable.

Computers are fast and also easier to use that is why organizations have adopted the use of computers in business transaction. Nigerian stock exchange adopted the use of information technology by using computer in their day to day transaction, they also use internet in carrying out their transaction by communication with stakeholders globally.

The internet is basically a vast and ever increasing network of computers across the globe that is interconnected over existing telecommunication network. That is, it is a network or networks. World over the term of world internet has become a household thing. It is a mega tool in the world of information technology that has shattered the defensive barrier of time, space and language thereby compressing the world into a global village the services of the internet include electronic commerce, electronics banking, electronic library etc.

The Nigerian Stock exchange was incorporated in 1960 as the Lagos Exchange in December 1977, it becomes Nigerian Stock Exchange with branches established in some of the major commercial used of this technology in their day to day transaction because of the increase of customers, these technologies make their work fast and easier to operate.

Although, a lot has been done by organizations and companies in the field of information technology adequate attention has not been paid on the performance of Nigerian Stock Exchange in Yola Zonal Office to determine the impact of information technology and its implementation in business transaction towards enhancing service delivery. Some of these problems are inadequate information technology facilities like the need for more vaster internet portal to be procured and install to make it adequate. The present situation in which the offices have linked to Lagos to participate in trading everyday do not means well for the general progress of the exchange.

The research therefore aimed at taking a closer look at some of these facilities, its performance in business transaction and implementation in enhancing services delivery.

1. STATEMENT OF THE PROBLEMS

Computerization is a world phenomenon and is now taken for granted as an indispensable companion in financial structure of any independent and dependent organization. In Nigeria as a whole it is merely about Thirty-nine (39) years old one may wonder without computer as they have been doing before.

Looking generally at the operation of computer in the Nigerian Stock Exchange one could notice some problems of the computer section of the stock exchange.

The specialized nature of the job which involves staff with a high degree of skill in the computer field. The services rendered to customers are very poor and has to be improved because customers waste a lot of time before making a transaction manually, which is now lying in the hands of the section.

The computer section in the stock exchange is left the task of preparing the customer reports instead of leaving it to account department which lead to serious misunderstanding between the computer staff and account staff.

The manual data processing method in the Nigerian Stock Exchange has the following as its shortcomings.

1. The method involves much paper work
2. It is time consuming and tedious
3. There are always calculation errors
4. It waste customers valuable time

Customers file ca