APPLICATION OF STANDARD COSTING TECHNIQUES IN MANUFACTURING COMPANY

THE APPLICATION OF STANDARD COSTING TECHNIQUES IN MANUFACTURING COMPANY.(A CASE STUDY OFSEVEN UP BOTTLING COMPANY OWERRI)

ABSTRACT

This project work is designed to evaluate the application of standard costing techniques in a manufacturing company.  Five chapters were exhausted in an attempt to achieve the above aims. Chapter one discussed the general introduction to study, the statement of the study, need for the study, objective of the study, scope of the study, limitations of the study, assumption of the study and Continue reading APPLICATION OF STANDARD COSTING TECHNIQUES IN MANUFACTURING COMPANY

COMPUTER IN AUDITING FIRMS: AN EFFECTIVE TOOL FOR AUDIT EFFICIENCY

APPLICATION OF COMPUTER IN AUDITING FIRMS: AN EFFECTIVE TOOL FOR AUDIT EFFICIENCY (A CASE STUDY OF SELECTED AUDITINGFIRMS IN ABA)

ABSTRACT

This study is aimed at assessing the application of computer in auditing firms as an effective tool for audit efficiency. A general overview of computer and auditing firms were highlighted and the significance of the study was also discussed. The study also dealt with the review of related literature. It also highlighted the different factors militating against the effective of computer in Continue reading COMPUTER IN AUDITING FIRMS: AN EFFECTIVE TOOL FOR AUDIT EFFICIENCY

ROLE OF FINANCIAL INSTITUTIONS IN THE MOBILIZATION OF SAVINGS AND INVESTMENT

THE ROLE OF FINANCIAL INSTITUTIONS IN THE MOBILIZATION OF SAVINGS AND INVESTMENT. (A CASE STUDY OF ECOBANK EKWULOBIA

ABSTACT

The project write up (the role of financial institutions in the mobilization of savings and investment) carries the dynamic segments of financial system in mutual fund industry. It has assumed considerable significance in the post liberalized market economy in the Indian financial market; mutual funds play an important financial intermediaries and assets Allocations. This studies deals on Continue reading ROLE OF FINANCIAL INSTITUTIONS IN THE MOBILIZATION OF SAVINGS AND INVESTMENT

MONETARY AND FISCAL POLICIES TOOLS FOR ECONOMIC STABILITY IN CENTRAL BANK

MONETARY AND FISCAL POLICIES AS EFFICIENT TOOLS FOR ECONOMIC STABILITY WITH SPECIFIC TO CENTRAL BANK OFNIGERIA(AWKA-BRANCH

ABSTRACT

This research work, dealt with the monetary and fiscal policies as efficient tools for economic stability. This research work was done to examine the monetary and fiscal policies and ascertain how effective they have been in making the poor conditions of the rural area affairs. To ascertain why there should be poor unemployment in the economy despite the existence and fiscal policies and to Continue reading MONETARY AND FISCAL POLICIES TOOLS FOR ECONOMIC STABILITY IN CENTRAL BANK

CONTRIBUTION OF COMMERCIAL BANK TOWARD ECONOMY DEVELOPMENT IN NIGERIA

A CONTRIBUTION OF COMMERCIAL BANK TOWARD ECONOMY DEVELOPMENT IN NIGERIA ( CASE STUDY OF UNION BANK OF NIGERIA PLC)

ABSTRACT

This study is aimed at finding the contribution of commercial banks towards economic development of Nigeria with a case study of Union Bank. Plc. The purpose of this research is to final the areas of strengths and weakness in economic development as it affect commercial banks. Also the researcher tend to find solution to the problems to ensure equal development of all sectors of the economy and improve the standard of living of the people and the state in Continue reading CONTRIBUTION OF COMMERCIAL BANK TOWARD ECONOMY DEVELOPMENT IN NIGERIA

THE ROLE OF BUDGET AND BUDGETARY CONTROL IN ORGANISATION

THE ROLE OF BUDGET AND BUDGETARY CONTROL IN ORGANISATION (A CASE STUDY OF NIGERBOTTLING COMPANY ENUGU PLAN

ABSTRACT        

This research work focus on the role of budget and budgetary control in organization. It reveals that in organization budget and budgetary control provides management with information which enable the organization to make effective decision and it encourage the practice of budgeting and budgetary control in ascertaining whether budget contains the right basis for planning and controlling businesses. It emphasizes that without budget and budgetary control in organization management goals and objective cannot be achieved. The researcher also designed questionnaire based directly on these research question. Twenty questionnaires were administered to workers and managers and eighteen were returned to workers. The research analyzes data collection using percentage (%) for easy understanding. Based on the finding it was concluded that budget and budgetary control is important to the management because it ensure the organization growth and continuous existence of an organization.

Thus the research therefore suggested that every organization should appropriate budget and budgetary control to provides information to management which will enable them make sound decision

CHAPTER ONE

  • INTRODUCTION
  • BACKGROUND OF THE STUDY

Budget is a financial or quantitative statement prepared prior to a specific accounting period, containing the plans and policies to be pursued during that period. On the other hand, it may be regarded as a plan expressed in financial and quantitative term which may include: income, expenditure and use of capital.

Put in another way, budget is a financial plan that helps people to make the best possible use of their money.

It identifies sources of income and assists in planning expenditures. Nevertheless, because of variation, income and expenditure in budgeting must consist of at least part of estimate. Continue reading THE ROLE OF BUDGET AND BUDGETARY CONTROL IN ORGANISATION

CHALLENGES TO ACCOUNTANTS ON HUMAN RESOURCES ACCOUNTING TO FINANCIAL STATEMENT IN BUSINESS ORGANISATIONS

CHALLENGES TO ACCOUNTANTS ON HUMAN RESOURCES ACCOUNTING (HUMAN/CAPITAL) TO FINANCIAL STATEMENT IN BUSINESS ORGANISATIONS.

ABSTRACT

Human resources accounting has over the years faced, so many Challenges as some accountants can not successfully place monetary value on the employees of the company as part of the company assets. The researcher therefore tends to unveil the challenges faced by accountants in successfully accounting for human resources. Towards achieving this, the researcher used two (2) companies as the case study covering company accountants and sixteen (16) employees. The method of data collected is by both primary and secondary source. The primary source of data is oral interviews and questionnaires carefully formulated and given out to these that made up the population of study. The secondary source of data is collected through magazines, newspapers, Journalist and published accounts of the companies involved. The researcher tabulated the data collected in chapter four of this work and finally summarized, concluded and made necessary recommendation that will assist accountants to surmount the challenges in future,.

   CHAPTER ONE

1.0           INTRODUCTION

1.1   BACKGROUND OF THE STUDY

This human resources accounting has it’s focus on the monetary valuation of human capital which is available to an organization at any time. Ever since Likert (2007) came up with the idea of human asset in the conventional balance sheet of companies.

Human resources accounting remain illusory in the minds of many accountants. It is obvious fact that of all resources employed in a     business organization, the human resources accounting to a greater extent determine the success of an organization, hence the organization members constitute the most valuable of its assets. Continue reading CHALLENGES TO ACCOUNTANTS ON HUMAN RESOURCES ACCOUNTING TO FINANCIAL STATEMENT IN BUSINESS ORGANISATIONS

THE ROLE OF AN ACCOUNTANT IN THE POVERTY ALLEVIATION PROGRAMMES OF FEDERAL GOVERNMENT

THE ROLE OF AN ACCOUNTANT IN THE POVERTY  ALLEVIATION PROGRAMMES OF FEDERAL GOVERNMENT (A CASE STUDY OF OWERRI    NORTH LOCAL GOVERNMENT AREA

ABSTRACT

All to often, one Nigerian from diverse background engage themselves in argument about the desirability, objectives result and effectiveness of government policies. In doing this, they most times got emotional about these policies, and because they do not have the necessary fowls for evaluating public policies which ends up with inaccurate judgments. This project is an effort in equipping the impact the role of an accountant in the poverty alleviation or alleviation programme on rural communities in Nigeria. The aim of this study is basically to show the readers the effects of government towards reducing poor living standard of the people, five research questions were employed. The cross-sectional survey design was considered appropriate together with the study of ten years Annual Financial Reports of the sample within Owerri region. The statistical tools used to analyze the data was simple percentage, it covers areas of educations, health and housing. One hundred and eighty (180) questionnaires were administered to the selected samples. The findings and discussions covers the socio-demographic and socio-cultural factors. It also covers the characteristics of the respondent and information in the role of an accountant in the poverty alleviation policies and programmes in rural communities. Other findings include the fact that poverty is a multi-variant phenomenon in which income, standard of living, health, housing, education and marital status and all relevant to its identification and employment, occupation, wage level, demographic factors and a number of other variable in the social framework, all play role in its generations. It was therefore recommended that government can attract more remedies for eliminating or minimizing poverty. In order to ensure a change and to see that the poor are raised above poverty line, Agriculture still remain the single largest employer of labour in rural areas to date. A concerted effort should be made by state and federal government to enhance the investment competitiveness of the agricultural sector. The role of education in building the human capital of any nation cannot be overstressed. The government should ensure that the educational inequality between the rich and the poor and even the urban and rural areas is closed, in this regard, they should fund the schools in the rural areas  very well, so that by so doing, the children of the poor can benefit.

CHAPTER ONE

  • INTRODUCTION
  • BACKGROUND OF THE STUDY

Every one now acknowledges the fact that poverty is a global phenomenon threatening the survival of humanity. With more than one billion people living in a state of abject poverty. Now it is generally accepted that dangers posed by poverty must be addressed and alleviated in the short-run and eliminated in the long-run. Continue reading THE ROLE OF AN ACCOUNTANT IN THE POVERTY ALLEVIATION PROGRAMMES OF FEDERAL GOVERNMENT

AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE

AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE ( A CASE STUDY OF ANAMMCO LTD EMENE ENUGU]

ABSTRACT

Failure of a company to meet its desired goal/ aim is a typical problem that affects both the company and the management teams. Many companies have be affected and influenced negatively by wrong management and incompetence. The purpose, objective and aims of this project work is centered on  the impact of auditing efficiency as a tool for improving company’s performance. This induces the following Continue reading AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE

EFFECTS AND REMEDIES OF ACCOUNTING FRAUD IN PUBLIC ENTERPRISES

EFFECTS AND REMEDIES OF ACCOUNTING  FRAUD IN PUBLIC ENTERPRISES (A CASE STUDY OF SOME SELECTED PUBLIC  ENTERPRISES PORTHARCOURT)

ABSTRACT

This research work is targeted on determining the effects and remedies of accounting fraud in public enterprises in Portharcourt Rivers state. The simple random sampling technique was use to draw data from the organization, the primary and secondary data was also used. Under secondary data, some existing documents were collected and under primary data questionnaire design was used to gather relevant information for the statement of the study. Those collected data’s was analyzed using statistical tools such as tables, and simple percentage on hypothesis one and two. The findings of this research work reveals that fraud will continue as long as it not possible to read human minds and also nag as social and economic injustice remains. Some recommendations stated was that the management should install an effective accounting  system and also ensure that  cash and credit transactions are properly represented in the financial statement. In conclusion, public enterprises should aim at devicing any means of preventing fraud rather than detecting it and rigorous investigations without giving out solution to it.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Contemporary theories in public enterprises shows that the question that assumed prominence in the thought of most management philosophers were usually the major issues related to fraud control in public enterprises. In the word of Okezie (2004), fraud is an intentional misstatement or omissions of some amounts or disclosure  from an entity’s accounting records or financial  statement.

Okpara (1990) sums up “fraud involves the use of  deception to obtain an unjust or illegal financial advantage”. The implication of this in the words of Okezie (2004) “fraud is an intentional misstatement”.

Actually, fraud consist of false statement made knowingly or without belief in the truth or recklessly without caring whether they are true or false with the intention that they acted upon to the detriment of persons or organizations that so acted.

Currently, research recognized that the nature and extent of fraud and other irregularities are influenced by societal values, norms and practices. At this our time, the society is not helping matters in the wave of fraud and crimes since criminates and fraudulent well to do persons are conferred with chieftaincy tildes or they are made traditional rulers.

Adeye (1996) captures this changing trend thus fraud may either take the form of manipulation of accounts which may either be accompanied by actual theft of assets or the defalcation  of money or money’s worth by employees of an  enterprise.

In conclusion, this work therefore attempt to investigate the effects and remedies of fraud in public enterprises focusing on some selected public enterprises in Portharcourt Rivers state.

1.2 STATEMENT OF THE PROBLEM

From the fore-going, it is possible to say that the level of fraud control and transparency with regards to the activities of public enterprises is quite low in Nigeria.

Inspite of all the ideas of a sound and systematic method of accounting record of cash receipts and  payments, lack of a sound and systematic method of authorizing receipts and payment still lack in the system.

Some related problems are the simultaneous presence of:

Ineffective means of recording allocated and unallocated stores.

Lack of acceptable definition of the basis of accounting records and functions.

Inappropriate division of accounting responsibilities in an organization.

Lack of a sound and systematic method of adjusting records.

1.3 OBJECTIVES OF THE STUDY

The main objectives of this study is to find out the effects and remedies of accounting fraud in public enterprises.

Some sub-objectives include:

To critically evaluate the financial statement of public enterprises.

To identify the weakness and lapses in internal control system.

To suggest appropriate correction techniques of this internal control system.

To ensure that cash and credit transactions are properly represented in the financial statement.

1.4 RESEARCH QUESTIONS

This research work will address the following questions:

  1. What are the major causes of fraud in public enterprises?
  2. To what extent can you access the efficiency of the internal control of the enterprises?
  3. What solutions can you recommend to resolve these problems?
  4. Are these problems peculiar to public enterprises in River state?

1.5 RESEARCH HYPOTHESIS

On the basis of the fore-going variables, the following assumptions have been made:

HO: There is no significance relationship between effective fraud management and profitability of public enterprises in Rivers state.

HI: There is significance relationship between effective fraud management and profitability of public enterprises.

HO: There is no significance effect of accounting fraud in public enterprises located at Rivers state.

HI: There is significance effect of accounting fraud in public enterprises located at River state.

1.6 SIGNIFICANCE OF THE STUDY

Inspite of all the criticism and suggestions made by critics in their examination of public enterprises, most of the research evidence are supportive  of this guide because it will offer the following benefits:

It will expose the areas where public enterprises have problems in cash management and fraud control.

It will suggest ways of tackling these problems.

It will show the relevance of public enterprises in the Nigerian economy.

Enable us understand the element of public enterprises as well as how to organize it.

Specially, this study will:

Indicate the extent of efficiency of public enterprises in Nigeria.

Reveal the weaknesses of the internal control of public enterprises in Rivers state.

1.7 SCOPE AND DELIMITATIONS OF THE STUDY

The research work is aimed at convening areas of management and fraud control in public enterprises in River state.

The study is to examine the importance and challenges of effective fraud management and credit control of the organization in public enterprises in relation to their performance, management and public relation.

Lastly, this work will be restricted by the following areas:

Organization structure of public enterprises.

Causes of fraud.

Remedies and control of fraud.

Classification of fraud etc.

1.8 LIMITATION OF THE STUDY

Every research study has certain limitations which falls short of the ideals which the research stabilities organized (Baridam 1990). In view of this assertion, the researcher encountered the following problems when carrying out the study:

Lack of adequate capital

Poor attitude of the respondents.

Time constructions.

Family interference.

Improper accounting information system.

Lack of adequate text book and records.

Limitations of the study of some of the handicaps that militate against studies of this nature include the following:

As a result of the haphazard nature of Nigerian statistical, adequate statistical data back up the finding of this study usually posses some sort of problems.

In carrying out researches in this country, questionnaires administered are usually not taken seriously by respondents. Sometimes a low rate is usually recorded. However the pain the researcher took in waiting, going and coming in a bid to measure the questionnaires are retrieval promptly and accordingly cannot be over emphasized.

A major factor concerning the study was finance. There was need to visit several places, libraries, organizations in order to obtain information for study.

1.9 DEFINITION OF TERMS

The researcher succinctly used the following terms:

Objectives: These are specific results that a person aims to achieve within a time frame and with available resources.

Fraud: This is the use of deception to obtain an unjust financial advantage. It can also be seen as an international concealment, omission or perversion of truth to gain unlawful or unfair financial advantage.

Public enterprise: This is company whose shares are available and traded on the stock market or other over-the-counter market.

Financial statement: Is a summary report that shows how a firm has used the funds entrusted to it by its stockholders.

Cost: This is an amount that has to be paid or given up in order to get something you want.

Management: This is the process of dealing with or controlling things or people. It is also seen as the organization and coordination of the activities of a business inorder to achieve its aim.