ACCOUNTANCY-ATC - Easy Project Materials

Tags: IMPACT OF PHYSICAL DISTRIBUTION ON ORGANIZATION AND ITS PROFITABILITY

7 years ago 0 Comments Short URL

INTERNAL AUDITING AS A TOOL OF CONTROL IN FEDERAL GOVERNMENT PARASTATALS

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

INTERNAL AUDITING AS A TOOL OF CONTROL IN FEDERAL GOVERNMENT PARASTATALS

CHAPTER ONE

INTRODUCTION

BACKGRPOUND OF THE STUDY

In Nigeria, successive governments, since independence have set up autonomous organizations with legal independence and powers, having the initiative of private enterprises to carry on developmental activities of commercial or industrial nature. Thus, the emergence of Ahmadu Bello University teaching Hospitals with headquarters in Samaru Zaria is charged with the responsibility of accounting properly all financial activities undertaken by its management.

The need to institute both internal and external audit systems within organizations for efficient and effective financial monitoring, management and control was further necessitated by some prevalent economic pressure like the recession in the privatization and commercialization of most of government owned organizations, keen competition in the Nigerian business environment, the Structural Adjustment Programme (SAP), Industrial unrest and the renewed call by the government through War Against Indiscipline and Corruption (WAI-C) foir financial prudence, action and accountability by government functions.

Internal auditing is of fundamental importance as an effective means of ensuring the reliability of internal records for information and use, through proper internal control systems within an organization without which such records will present chaos and the whole system may fail to succeed for lack of orderliness, accuracy, reliability of information, safety of its assets and the general security of records.

Effective internal control is necessary to be able to determine whether all transactions have been reflected within accounting record. It is therefore, important to recognize that the auditor concerns himself with internal control throughout the clients organization and not merely within the finance and supplies department alone. He ought to understand the organizational operations as a whole, ascertain and evaluate the whole system of control operating within the organizations. An important aspect about controls is the fat that it has to be timely otherwise the whole exercise will be futile.

The internal auditor helps management to achieve organizational objectives effectively through his report. Such reports have to contain express opinion of the auditor on the areas he undertakes to audit. The nature and extent of the internal control system and internal auditing, appropriate to anyone organization is the management’s responsibility and depends on the organizations typology and geographical distribution.

The importance of internal control for internal audit purposes will be appreciated most in an organization like the Ahmadu Bello University Teaching Hospitals, whose activities are spread over various branches at different locations both within and outside Kaduna State.

1.1 STATEMENT OF THE PROBLEMS

A problem represents an unhealthy organizational atmosphere or a puzzle a phenomenon, event or happening. Having defined a problem, an insight is given as to the major problems that could be said to bedevil the internal auditing and control systems in Ahamdu Bello University Teaching Hpsitals. As is the tradition with government parastatals and organizations, the Ahmadu Bello University Teaching Hospitals have some of its problems as follows:

1. Lack of a good system if financial monitoring and control.

2. Lack of sufficient audit staff and other professional services to aid and effective audit conduct.

3. Lack of sufficient transport, financing and suit accommodation.

4. Non issuance of internal audit reports prior to statutory audit thus increasing the audit fees and costs.

5. Insensitivity of audit inspection reports and queries.

6. Loss of funds through misappropriation or abscondment of accounts staff.

1.2 OBJECTIVES OF THE RESEARCH

With the above list of problems and many others yet unmentioned bedeviling the internal control system of the Internal Auditor Department in A.B.U. Teaching Hospitals, it will be unfair if no step is taken even as effected by one’s academic pursuance to look at the problems and causes critically and suggest possible solutions that could improve the situation for the organizations continued effective existence.

In a nutshell, the aim of this study is to find a possible shorten and long term solutions to the problems thereby pacing the way for efficient operation in the organization in order to achieve the purposes for its existence.

1.3 SCOPE AND LIMITATIONS OF THE RESEARCH

The study is limited to A.B.U. Teaching Hospitals activities, especially its internal audit system and financial dealings as it relates to the management of its financial resources.

The A.B.U. teaching Hospitals are selected as a sample to be studied for the fact that it is likely to offer free access to relevant financial and audit information and documents that will be required for this research. The study centres largely on the Internal Audit Department of the Ahmadu Bello University Teaching Hospitals, Headquarters in Samaru Zaria.

The Departmental functions as per responsibilities assigned to it by management which is mainly to operate within the broad areas of reviewing of accounting system and other related internal control, examinations of financial and operating information for management, review economic efficiency and effectiveness of operations, and implementation of organizational policies, plans and procedures. The external audit concerns itself with making necessary information available with express opinion to outside users to third parties.

1.4 LIMITATIONS

As normal researches involving case studies of Government organizations in Nigeria, the issue of confidentiality really hindered the flow of necessary information for this write-up. Moreso, to somebody completely outside the organization like myself, the fear of leaking Governmental secrets due to the government secrecy acts and decrees, further aggravated lack of adequate materials for this work. Therefore, I had to rely on the materials that were made available to me by some personal friends in the organizational under discussion.

Finally, the issue of financial constraints also becomes an important factor that hindered the adequacy of resources (materials) on this write-up.

1.5 RESEARCH METHODOLOGY

For the purpose of this project, both primary and secondary methods of data collection have been used. The primary was based on my personal interactions with my friends that are working there and the questioning techniques being used during my discussions with them any time I met some of them.

The secondary includes the accounting manuals of the organization and other relevant related audit files, other data used includes texts and journals that relate to the subject matter under discussion, and accounting data, lecture motes and all other relevant financial data necessary for this project write-up.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: INTERNAL AUDITING AS A TOOL OF CONTROL IN FEDERAL GOVERNMENT PARASTATALS

7 years ago 0 Comments Short URL

PROBLEMS AND PROSPECTS OF PENSION ADMINISTRATION IN NIGERIAN PUBLIC SECTOR

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

PROBLEMS AND PROSPECTS OF PENSION ADMINISTRATION IN NIGERIAN PUBLIC SECTOR

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND TO THE STUDY

The pension and gratuity which are normally goes to retired employee have been in practice in the advanced western countries, which gradually came into our under developed countries, since then during colonial regime.

Pension is a stated allowance or amount of money paid regularly on monthly basis to a person on his retirement from service.

Gratuity: This is a sum of money paid to a worker or military personnel on retirement or discharge from service. The amount is calculated according to the years of service of the individual concerned.

Pension was not therefore the automatic entitlement of a retiree. However, several reviews have been made to pension ordinance in 1979, 1992 etc. It was the review of 1993 pension rate that other fringe benefits from part of total annual emoluments up till now. Such benefits include utility allowance and meals subsidy as per established circular Ref. No: 363216/51/X/702 of 25th January 1993.

It is also pertinent to note that all retired officers (servants) were paid uniformly based on the level of which an officer retired. But review of 1993 brought a disparity in the amount paid to retiree officers in the federal and state government.

An evaluation of administration of pension and gratuity schemes in the public service generally indicates some militating factors against prompt payment of retirees.

Every person employed originally works for several number of years up to a specific year, would one time be retired of his post and given a name PENSIONER or RETIREE at this stage, he starts to be collect meager amount monthly, collect pension. One is to be retied if he/she is not working full time and derives at least the largest portion of financial support from the public or private pension payments. It designate the period in life when one’s role as a paid worker ceases.

However, the attitude of the beneficiaries over long period of time has called researchers to fish out problems associated with the system of payment and equally suggest valuable solution to the improvement of the system. According to Pension Decree No. 102 of 1979, Section 4(i) the statutory age of retirement for public servant is (60) while judicial officers retires at the age of (65). 35 years of service, whichever is earlier.

In Nigeria, where the government is the largest employer of labour, its policies are equal widely adopted by independent industry and commercial organization.

The impact of payment of gratuity is almost universal, even if an employee received large or huge sums of money during his active working services. Yet income accruing to him after the service will probably decrease depending on the level he/she retires on. It is pertinent to note here that retirees are paid based on the schedule for the computation of gratuity and pension.

If an employee has used his or her job to maintain self esteem identity and feeling of competence his/her psychological well-being can be jeopardized by feeling that a valued career is over.

Haddrome and Marizel (1983) observes that a discruption in job security represents a loss as profound for some individuals as the loss of a cored one and those employee who loose their jobs need support in their effort to work through a process of grieving.

This is no less true for people who retire than those who find themselves suddenly unemployed. It has been generally said and believed that the basis for the conduct of a research is as a result of the existence of a problem and the desire to find lasting solution to the problem.

1.2 STATEMENTS OF THE PROBLEMS

The pension administration is characterized by some inadequacies as a result of mismanagement, corruption and incompetence of the some pension administrators. This bad situation is a set back to national development because some pensioners will have to beg for what is rightly belong to them, unlike what is obtainable in other uncorrupt countries.

However, as mentioned or highlighted above Pension administration in Nigeria is characterized by some problems some of them are illustrated.

i) CORRUPTION: Many pension administrators in Nigeria are in the theory of quick money syndrome they tend to embezzle money in their possession at the detriment of the beneficiaries.

ii) LACK OF COMPETENCE: In competence personnel are often saddled with the critical task of computing pensions lists and accounts, this will no doubt result in wrong placement of document and misleading information.

1.3 OBJECTIVES OF THE STUDY

The objectives of the study on the administration pension and gratuity scheme in the public service and Kaduna polytechnic can be analyzed as follows:

a) To examine various policies in respect to the pension payment system in Nigeria.

b) To identify the problems encountered in the system of disbursement of pension and gratuity.

c) To assess the effectiveness and efficiency of the administration of the pension scheme in the public services.

1.4 RESEARCH QUESTIONS

i) Does the government introduced good policies that might bring about systematic change in the payment of pension and gratuity?

ii) What are the problems encountered in the disbursement system of pension and gratuity in Nigeria?

iii) Is there effectiveness and efficiency in the administration of pension and gratuity scheme in the public services?

1.5 SIGNIFICANCE OF THE STUDY

The study will be of great significant to both the staff of Kaduna Polytechnic, the institution itself as well as the general public.

a) To the Staff of Kaduna Polytechnic

The study will be significance to the staffs of Kaduna Polytechnic, since it will bring about some possible solution to their problems in the administration of pension and gratuity. And also will help them to prepare effectively before their retirement.

b) To the General Public

On the part of society in general, this study could enhance the high productivity among the workers in the public sectors. Since the possible solution to some problems in the administration of pension and gratuity have been suggested.

It will be, if applied correctly improve the living standard of the general public, as this will enable workers to have reasonable plan for future.

c) To Kaduna Polytechnic Pension and Gratuity Section

The significance of the study equally extends to the department of pension and gratuity, Kaduna polytechnic in that, the recommendation can be of great importance to them which can enhance great improvement in the preparation of retirement benefits and other office matters.

d) To the Future Researchers

The study will be significant to future researcher who will carry out another research on this topic, it will serve as research materials.

1.6 SCOPE OF THE STUDY

The scope of this research work or study is restricted to the administration of pension and gratuity in Kaduna Polytechnic from 2006 to 2011.

1.7 HISTORICAL BACKGROUND OF KADUNA POLYTECHNIC, KADUNA

The Colonial Pension Law was made by the Governor General of the country. Pension was not therefore, the automatic entitlement of a retiree. However, several reviews has been made to the pension ordinance in 1979, 1992 etc. It was the review of 1993 pension rate that other fringe benefits includes utility allowance and meal subsidy as per established circular Ref. No: B63216/S.1/X/702 of 25 January 1993.

It is pertinent also note here that all retired officers (servant) were paid uniformly based on the level of which an officer retires, but review of 1993 brought a disparity in the amount paid to retired officers, in the federal and state government.

The Kaduna Polytechnic which was formerly known as “Kaduna Technical Institute”. It was muted along with the Nigerian College of Arts, Science and Technology as far back as 1951.

To avoid duplication of courses by the two institutions the difficulty of retirement of staff and obtaining enough candidate before the date, the institutions did not take off until 1956, following the acceptance by the British Government to approve the recommendation of the Higher education commission which proposed the upgrading of YABA College of Technical Institute and the need to have Technical Institute in Kaduna and Enugu. The Technical Institute was to:

1. Operate in the field other than the Nigerian College

2. The graduates of the Technical Institute were not be trained exclusively.

3. The training in the Technical Institute was to cover only such amount of technical work necessary for engineering assistance (Technician).

4. The courses were to lead to the Ordinary National Certificate/Diploma in the United Kingdom. It was also envisaged that the courses be trained to the standard equivalent of Higher National Certificate/Diploma while the Nigerian College with branch at Zaria was established to produce Teachers that will help on training Rural industries and to keep the North in Higher Education pictures.

The Kaduna Technical Institute was established for the purpose of running two courses, namely:

a) Junior Technical Courses: This is Technical Secondary School comparable to Secondary Technical in England.

b) Senior Technical Courses: These were to be post-Secondary courses organized in full time.

In comparison, the Nigerian College of Science, Arts and Technology offered courses leading to the award full Technology Certificate for the Associate Membership of the appropriate professional Institute e.g. A.M.I Mech. E. Elect.

On 21st March 1961, Sir Ahmadu Bello the premier of the defunct Northern Nigeria discussed with British High Commissioner Viscount Head and requested the assistance of British government; the regional ministry of Education with assistance of department of Technical Co-operation of the United Kingdom sough the services of two men and commissioned them to study and plan the institute.

The Northern Nigerian executive had at its meeting and vide its conclusion No. 1 (62) 1962 designated the Kaduna Technical Institute as Kaduna Polytechnic. The site work for the new C.S.T Building was started in March 1963 with building of workshop blocks which was completed in Feb. 1968.

In those days the school have pioneer department, College of Science and Technology which involve:

1. Department of Civil Engineering and irrigation

2. Department of Mechanical Engineering

3. Department of Liberal Studies

But now adays Kaduna Poliytechnic involved five units which are:

1. College of Science and Technology (C.S.T) located at T/Wada.

2. College of Business and Management Studies (C.B.M.S) located at Golf Road U/Rimi.

3. College of Administrative and Social Science Studies (C.A.S.S.S) located at Bye-pass.

4. College of Engineering (C.O.E) located at T/Wada

5. College of Environmental Studies (C.E.S) located at Barnawa.

1.8 DEFINITION OF TERMS

a. Gratuity: This is a sum of money paid to a worker or military personnel on retirement or discharge from service. The amount involved is calculated to the years of service of the individual concerned.

b. Pension: Is a stated allowance or amount of money paid regularly on monthly basis to a person on his retirement or to his dependent on his death in consideration to his past service.

c. Disbursement: Refers to payment of entitlements to the pensioners or retirees.

d. Beneficiaries: This refers to people whom pension and gratuity are paid after leaving the service or their next of kin.

e. Pensioners: These are the workers who leave the service and are eligible to gratuity and pensioners at stipulated age.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: PROBLEMS AND PROSPECTS OF PENSION ADMINISTRATION IN NIGERIAN PUBLIC SECTOR

7 years ago 0 Comments Short URL

AN ASSESSMENT OF RISK MANAGEMENT AND CREDIT ADMINISTRATION IN BANKS

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

AN ASSESSMENT OF RISK MANAGEMENT AND CREDIT ADMINISTRATION IN BANKS

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Risk Management is the identification assessment and prioritization of risks. It is the effect of uncertainty on objectives, whether positive or negative followed by coordinated and economic of application of resources to monitor and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities (Okeh, 2006).

The survival of every commercial bank depends on its ability to manage its risks and loans or advance portfolio effectively. However in the recent past, commercial banks in Nigeria witnessed rising non-performing credit portfolios and these significantly contributed to the financial distress in the banking sector.

Financial organization need to manage the credit risk inherent in the entire portfolio as well as the risk in individual credit or transaction. This is so because the survival and ability of financial institution to compete depend on their ability to profitability and manage credit risk. This is the reasons why lending is based on the two fundamental products of banking: money and information. Banks obtain these products from customers themselves by offering customer valuable services. They package money and information about their borrowers together with valuable banking services to create loan agreements and sell the loan agreements back to their customers (Hempel and Simonson, 2007).

As such, risk rating system in financial institution contains both objective and subjective elements. Objective aspect are based on financial statements and application of certain financial ratio that reflect liquidity, leverage and earnings. Despite the requirement that risk be quantified, risk rating systems always have a subjective dimension that attempts to capture intangibles such as the quality of management, the borrower’s status within the industry, and the quality of financial reporting. These subjective items may result in inconsistencies.

It is in this regard that many financial institutions have faced difficulties over the years arising from their inability to effectively manage credit risk. As such the major cause of serious banking problems continues to be directly related to tax credit standard for borrowers and counterparties, poor portfolio risk management, or lack of attention lead to a deterioration in the credit standard of a bank’s counterparties. Hence, the need to investigate the subject matter of this research becomes imperative.

1.2 Statement of the Problem

Commercial banks in the recent past witness rising non-performing credit portfolios sequel to the inability of their management to effectively manage risk and credit administration. That problem resulted to high bad debts in commercial bank and a number of other commercial banks were classified as distressed banks by the monetary authorities.

Consequently, the need to examine the subject matter: An Assessment of risk management and credit administration in Union Bank Plc, Kaduna Main branch becomes worthy of investigation.

1.3 Objectives of the Study

The central objective of the study is to assess risk management and credit administration in Union Bank Plc, Kaduna. The specific objectives are:

i) To examine risk management system in Union Bank Kaduna Main Branch.

ii) To assess credit administration in Union Bank Kaduna Main Branch.

iii) To identify the constraints militating against risk management and credit administration in Union Bank.

iv) To proffer workable solutions to the identified problems.

1.4 Significance of the Study

This study will be beneficial to financial institution especially Union Bank Plc, as they utilize the finding of this study as a basis for policy formulation regarding risk management and credit administration in Banks. The shareholders, stakeholders and the entire society will benefit from this study.

1.5 Research Questions

i) How is risk managed in Union Bank Kaduna Main Branch?

ii) How is credit administered in Union Bank Plc Kaduna Main Branch?

iii) What are the constraints militating against risk management and credit administration in Union Bank Plc Kaduna Main Branch?

iv) What are the solutions to the identified problems?

1.6 Scope of the Study

The study shall cover an empirical examination of the assessment of risk management and credit administration in Union Bank Plc Kaduna. To this end, the study will examine how risk is managed in Union Bank as well as credit administration. The study shall cover a time from 2006 – 2011.

1.7 Definition of Terms

1. Credit Risk: This refers to delinquency and default by borrowers i.e. failure to make payment as at when due.

2. Pure Risk: This refers to reduction in business value as a result of damage to business property by theft, robbery, fire, flood or the prospect of premature death of employee due to work-related illness or accident.

3. Price Risk: This refers to variability in cash flows due to change in input and output prices.

4. Credit Administration: This is the system used in managing the exposure of financial institution to loan delinquency and default.

5. Business Risk: This refers to variability in cash flow.

6. Loan Appraisal: This is the process of determining in advance the various lending parameters and determining the overall loan limit for each borrower based on his debt capacity, loan duration.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: AN ASSESSMENT OF RISK MANAGEMENT AND CREDIT ADMINISTRATION IN BANKS

7 years ago 0 Comments Short URL

THE IMPACT OF DOMESTIC INVESTMENT ON THE ECONOMIC GROWTH OF NIGERIA, (2008 – 2013)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

THE IMPACT OF DOMESTIC INVESTMENT ON THE ECONOMIC GROWTH OF NIGERIA, (2008 – 2013)

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Since the attainment of independence in 1960 various policies of the Nigerian government have been geared towards promoting the growth and development of the Nigeria economy by influencing the trends of Gross Domestic Investment or indirectly through policies aimed at stimulating the flow of finance in any growing economy. Several literatures have shown that there is a nexus between increase in Real Gross Domestic Investment and economic growth of the Nigerian economy. Real Domestic investment in the economy is an acceptably way of increasing capital formation in the economy thus increasing productivity, output and economic growth in Nigeria. Real Domestic Investment is expenditure made to increase the total capital stock in the economy. This is done by acquiring further capital-producing assets and assets that can generate income within the domestic economy. Physical assets particularly add to the total capital stock. Boosting economic development in Nigeria requires higher rates of economic growth than savings can provide. Part of the finance for investment in Nigeria is provided by the corporate sector, bank loans and household savings make up the other part.

Investment in finance is the acquisition of financial assets for earning returns (Stiglitz, 1993). Investment can be divided into autonomous and induced investment. Autonomous investment is service based and not induced by demand as its is not influenced by immediate returns while induced investment is largely profit motivated. Autonomous investment is in the purview of the public sector and therefore propelled by the government. Most autonomous investment end up increasing capital formation in the Nigerian economy thus, fostering economic growth.

Real Domestic Investment can be undertaken by the public or private sectors, with the government being involved mainly with autonomous investments which act as the main drivers of other investment in the economy. Autonomous investment in Nigeria has dwindled drastically because the expenditure made by the public sector are not delivering value where rightly conceived. A simple analysis of the Gross Domestic Investment statistics from the Central Bank of Nigeria (CBN) shows that the nominal investment in Nigeria is going down and his fallen in real terms over the years. Investment could be social in outlook others are infrastructural (transport, power, water, housing etc) while others are purely economic, which the private sector undertakes for private capital accumulation while financial investment is an avenue to increase wealth, real investment in Nigeria is directed towards increasing productivity and economic growth of the Nigerian economy. Thus, this research work seeks to unfold the nexus between domestic investment and economic growth of the Nigerian economy since gross domestic investment is a sine qua non to the economic growth of the Nigerian economy. The relationship between physical investment and GDP is considered the most important of the factors antecedent to growth. Ige (2008) opines the important role of the government in providing autonomous investment which is more government propelled and the role of government a financial management.

1.2 STATEMENT OF THE PROBLEM

One of the major economic problem of the Nigerian economy and developing economics at large is low Gross Domestic investment finance which leads to a decline in economic growth and development. The vicious cycle of low domestic investment finance as a result of low savings which leads to low capital formation has become a cankerworm which has eaten deep into the fabrics of the Nigerian economy and development of the Nigerian economy which has reduced the pace of economic growth of the Nigeria economy in particular and developing economies in general.

The Nigerian government as an economic has not been helpful to domestic investment in the country and with the direction of its investment over the years. Where the government has made investment, it is in projects that do not ginger other investment or on project that do not have economic linkages that can foster economic growth though it might have borrowed funds from the financial system to commit to such investment. It is therefore important to reposition the countries financial stance by given consideration to effective mobilization of domestic private investment as a development strategy for driving sustainable long term economic growth.

In most developing economies in general and Nigeria in particular, domestic private investment has proven to be insufficient in giving the economy the required boost to enable it achieve it growth target because of the disparity between the capital requirement and their savings capacity and rather than the government taking concrete steps to implement policies and formulate a culture of continuous domestic investment the government is gradually shying away from its responsibility.

The summary of the research problem are stated below:

The vicious cycle of low domestic investment finance as a result of low savings resulting into low capital formation has militated against Nigeria’s economic growth.

Nigeria’s government has not been channeling their investment to economic viable projects and sectors of the economy thus curtailing the pace of Nigeria’s economic growth.

In developing economies in general and Nigeria in particular, domestic investment has proven to be insufficient and extremely low to ginger or accelerate Nigeria’s economic growth.

Lack of effective mobilization of domestic investment in Nigeria to various sectors of the economy, thus militating against sustainable long-term Nigeria’s economic growth.

Disparity between capital requirement for investment and savings capacity in Nigeria, thus hampering Nigeria’s economic growth.

Poor government policies that do not foster domestic investment in Nigeria.

1.3 RESEARCH QUESTIONS

The following research question shall guide this study:

Is there any nexus between domestic investment and economic growth in Nigeria?

What are the factors affecting domestic investment in Nigeria.

What factor effect domestic investment in Nigeria

What theoretical and empirical exist for the explanation of investment – economic growth linkage.

What suggestions exists for policy recommendation for the improvement of domestic investment for economic growth.

1.4 OBJECTIVE OF THE STUDY

The broad objective of the study is to investigate the impact of domestic investment on the economic growth of Nigeria.

The specific objectives of this study include:

To ascertain the nexus between domestic investment and economic growth.

To investigate the factors for low domestic investment in Nigeria

To identify the factors affecting domestic investment in Nigeria.

To offer theoretical and empirical insights into the link between domestic investment and economic growth.

To offer policy recommendations based on the empirical findings of this study.

1.5 RESEARCH HYPOTHESES

H0: Increase in domestic investment in the various sectors of the economy namely; the agricultural sector, petroleum and power sector, have not impacted on Nigeria’s economic growth.

H0: Low domestic investment in Nigeria has not affected Nigeria’s economic growth.

H0: Domestic investment does not have any significant impact on Nigeria’s economic growth.

1.6 SIGNIFICANCE OF THE STUDY

This research is carried out with the aim of enlightening scholars and every other person that is opportuned to lay hands on it, on the impact of domestic investment on Nigeria’s economic growth. It is also believed that this may proffer useful suggestions to policy makers and economic planners towards making effective economic decision for effective economic growth and development. Thus, domestic investment is seen as a sine qua non to fostering economic growth in Nigeria.

1.6 SCOPE OF THE STUDY

The scope of this study revolves around the impact of domestic investment on the economic growth of Nigeria between the year 2008 and 2011.

1.7 DEFINITION OF KEY TERMS

Investment: Investment on finance is the acquisition of financial assets for earning returns.

Domestic Investment: This refers to the investment made by residents of a country both private investment made by citizens and public investment made by government.

Gross Private Domestic Investment: This is the measure of physical investment used in computing Gross Domestic product (GDP) in the measurement of a nations economic ability.

Economic Growth: This is a sustained increase in the output of a country over a period of time. It also refers to the sustained increase in the Gross Domestic Product (GDP) of a country

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: (2008 – 2013), THE IMPACT OF DOMESTIC INVESTMENT ON THE ECONOMIC GROWTH OF NIGERIA

7 years ago 0 Comments Short URL

THE INFLUENCE OF FINANCIAL ACCOUNTING REPORTING ON THE MANAGEMENT OF A BUSINESS ORGANIZATION ( A STUDY OF CHAMPION BREWERIES PLC, UYO)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

THE INFLUENCE OF FINANCIAL ACCOUNTING REPORTING ON THE MANAGEMENT OF A BUSINESS ORGANIZATION ( A STUDY OF CHAMPION BREWERIES PLC, UYO)

ABSTRACT

This study sought to assess the influence of financial accounting reporting on the management of a business organization. Specifically, the ,work was carried out to find out whether financial statement shows a true and fair view of Champion Breweries financial positions and establishes the relationship between financial accounting reporting and management of a business organization. A survey research design was used in the study and simple percentage and correlation models were used in analyzing the data. It was discovered that financial reporting play a vital role in the management of Champion Breweries. These financial reporting were discovered to high influence on the performance of the organization. It is also found out that managers of Champion Breweries do not attach important to statutory regulation and standards in the design and implementation of financial accounting system in their company. Therefore, it is recommended that proper orientation should be given to them in order to ensure that they adhere to the statutory regulations and standard so as to upgrade and update their financial accounting reporting for improved performance.

TABLE OF CONTENTS

Title page

Cover Page

Declaration

Certification

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE: INTRODUCTION

Background of the study

Statement of problem

Objective of the study

Research Questions

Research Hypothesis

Significance of the study

Scope of the study

Limitation of the study

Definition of terms

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 Introduction

2.2 Historical Background of financial reporting

2.3 Regulatory framework

2.4 Components of financial reports

2.5 Meaning of financial reporting

2.6 Qualitative characteristic of Accounting Information

2.7 Uses of Financial report

2.8 Users of Accounting Information

2.9 Elements of financial statement

CHAPTER THREE: RESEARCH DESIGN AND PROCEDURES

3.1 Introduction

3.2 Area of study

3.3 Population of the study

3.4 Sample determination and sampling techniques

3.5 Sources of data collection

3.6 Method of Data Collection

3.7 Data Presentation and analysis methods

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1 Introduction

4.2 Presentation and Analysis of data

4.3 Testing of Hypothesis

4.4 Discussion of findings

CHAPTER FIVE:

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction

5.2 Summary of the work

5.3 Conclusion

5.3 Recommendations

References

Questionnaire

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

According to Ogunjimi in Ejiofor (2008:2) the running of any business is based principally on financial functions and hence what usually first come to mind in every business activity is the monetary aspect involved. No wonder an accounting department plays a vital role in effective running of an organization. Peter and Sylvia (2008:7) explains that financial statements are literally a “road map” telling us where a financial firms has been in the past, where it is now and perhaps where it is headed in the future. Financial reports are invaluable guideposts that can, if properly constructed and interpreted, signal success or signal disasters. In that wise, efforts must be made in establishing a system that will be suitable to the business giving enough consideration to the future expansion and development.

Akintoye (2004) expresses that we all make decision which most of the times even when our decisions are purely emotional; we use information to help us arrive at a viable decision. Information includes facts ideas and concept that help us to understand a certain issue. He said it is knowledge helpful in reaching a conclusion. As pointed out before, both manual and mechanized systems of accounting are available in the Nigerian economy. However, it is very important to realize that whenever a system is adopted the following points have to be considered

(i) That the procedures for handling money or funds should be simple and designed to provide maximum security. (ii) Records should be simple and provide room for easy cross-checking and the system must be capable of meeting all legal requirements of the country in terms of auditing, taxation, company law and the like. The above qualities are necessary if a businessman is aware of the interested parties (1985 of people) in his business operations. One wonders how people get to know about many companies. The simple answer is that people interested in particular company derive their knowledge of such company by the examination of the published annual reports of when the majority are financial statement. Ogunjimi in Ejiofor (2008:2).

Financial reporting deals with the presentation of financial and other relevant statements to show the extent to which the objectives of the organizations have been achieved. It has been described as a way or manner of documenting the day to day financial or other transaction of an enterprise for a given accounting year.

1.2 STATEMENT OF THE PROBLEM

Financial reporting is an avenue of feeding stakeholders of both profit and non-profit oriented organizations with accounting information that will enable them make informed decisions and judgment about management performance and organizations’ liquidity, viability and stability. Therefore, the importance of financial reporting in Champion Breweries Plc cannot be over emphasized because it also helps stakeholders to overcome any doubt against managers of the funds.

In Nigeria today, weak controls coupled with inadequate financial reporting culture has been of growing concern among corporate entities. It is therefore important to determine to what extent corporate entities appreciate the use of financial reporting in planning systems.

In more specific terms, the problem is lack of adequate financial reporting culture in Champion Breweries Plc, Uyo which ensure proper measurement of its activities and achievement of state objectives.

1.3 OBJECTIVES OF STUDY

To determine whether financial statement show a true and fair view of Champion Breweries financial position.

To determine the extent to which the organization meets its social responsibilities.

To determine areas where Champion Breweries had made errors or where misleading effects have been involved.

To show compliance with statutory regulation and standard.

1.4 RESEARCH QUESTIONS

What role does financial reporting play on the management of champion Breweries?

Has there been any significant relationship between financial accounting reporting and management of a business organization?

Does proper accounting reporting increase profitability in Champion Breweries?

Does Champion Breweries maintain financial accounting report according to the generally accepted accounting principles (GAAP).

1.5 RESEARCH HYPOTHESIS

Ho: There is no positive and significant relationship between financial accounting reporting and management of a business organization.

Hi: there is a positive and significant relationship between financial accounting reporting and management of a business organization

1.6 SIGNIFICANCE OF THE STUDY

This study will be useful to the immediate beneficiaries i.e. champion breweries plc Uyo branch where the study is conducted this is so, because it is clear that any organization that has no effective accounting and record management will not know whether there are making profit or running of a loss. It is also to provide necessary information and enlightenment to some interested members of the public, shareholders, creditors, in-debtors government etc.

The major significance of this study will be the contribution to the body of knowledge which is the primary purpose intended by the researcher.

1.7 SCOPE OF THE STUDY

The study is limited to champion breweries plc Uyo and is based on the influence of financial accounting reporting on the management of a business organization.

1.8 LIMITATION OF THE STUDY

The inability of management to divulge certain information which they consider sensitive. The publication of which might be detrimental to their operations proves to be a limitation on the study.

Distance and its attendant cost of travel in order to obtain information with which to write this study was also a major limitation.

Hence, the project has not been able to cover all areas which it should have covered, if one were to write freely and this called for the streamline of the scope of study to allow for successful handling of these hindrances without bias.

1.9 DEFINITION OF TERMS AND ACRONYMS

Influence: according to oxford advance learners dictionary defined it has the effect that somebody/something has on the way a person thinks or behaves or on the way something works or develops.

Financial accounting: Is the branch of accounting concerned with classifying measuring and recording the transaction of a business. At the end of a period, usually a year but sometimes less a profit and loss account and a balance shear are prepared to show the performance and position of the business (oxford dictionary of accounting, Owen et al 2005)

Accounting: according to Ojo and Obi (2007:2) the American institute of certified public accountants (AICPA) defined accounting as “the act of recording, classifying and summarizing in a significant and in terms of money transactions and events which are in part or at least of a financial characters and interpreting the result there of”

Financial Reporting: This is the presenting of financial date of a company’s position, operating, performance and funds flow for an accounting period (businessDictionary.online),

Reporting: This involves reporting on various rows performs by the unit in an organization (Meigs 1777:683).

Management: According to Nwachukwu (2009) management is defined as “getting things done through and with others”. He said it can be more scientifically defined as the coordination of all the resources of an organization through the process of planning, organizing, directing, controlling in order to attain organization objectives.

Business: Ude (1999) defined business as the organized effort of individuals to produce and for profit the goods and services that satisfy society need. According to Agbo (2010) business is the process of combining human and material resources to produce, distribute goods and or services for the satisfaction of mankind and a reward.

Organization: Wikipedia the free encyclopedia (2004) defined organization as a social entity such as an institution or an association that has a collective goal and is linked to an external environment.

Business Organization: According to Woodward in Encyclopedia Brintannica (2014), defined Business Organization as an entity formed for the purpose of carrying on commercial enterprise.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: THE INFLUENCE OF FINANCIAL ACCOUNTING REPORTING ON THE MANAGEMENT OF A BUSINESS ORGANIZATION ( A STUDY OF CHAMPION BREWERIES PLC, UYO)

7 years ago 0 Comments Short URL

THE ROLE OF INTERNAL AUDITORS IN FRAUD CONTROL IN A BUSINESS ORGANIZATION (A CASE STUDY OF CHAMPION BREWERIES PLC UYO)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

THE ROLE OF INTERNAL AUDITORS IN FRAUD CONTROL IN A BUSINESS ORGANIZATION (A CASE STUDY OF CHAMPION BREWERIES PLC UYO)

ABSTRACT

This research study was conducted to investigate the role of auditors in fraud control in business organization with particular interest and attention on Champion Breweries Plc, Uyo. Staff of Champion Brewery constitutes the population of the study from which a sample size of forty (40) respondents was selected. Three hypotheses were formulated and tested, Chi-square and percentage distribution was the statistical tool used in testing the hypothesis, while questionnaires were the method used for collection of data for the study. The result reveals that internal auditors play a significant role in keeping the organization accounting records in order. They also help in checking fraud. The problem affecting internal auditor in the champion brewery plc Uyo are enumerated.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

It is pertinent at this introductory part to note the term auditing I its primitive and rudimentary form can well be traced back to the ancient firms but the term auditing is seen today in its formed state and was established in the later part of 19th century. Originally an auditor was one whom the receipt and payments of an establishment were read.

The definition of auditing came as independent examination and investigation of the evidence from which a financial statement has been prepared with a view of enabling the independent examiner to report whether in his opinion and according to the best of his knowledge, the information and the explanations obtained by him is properly drawn up and gives a fair view of what it report to show if not in what respect he is not the independent examiner who does the investigation and report there upon is referred to as the auditor.

The auditor being an independent examiner who should be professionally qualified examine the book of account and vouchers of the company as will enable him to report whether he satisfied or not that balance sheet is properly drawn upon so as to show a true and fair view of the profit and loss for the financial period.

The role of auditor is rigorous and from the above description of an auditor positions in this dynamic business do represent a true and fair view of financial position and earning and that the accuracy of the account is not distorted by any fraud and error which the auditor came across in the course of auditing. (Normond 2009).

The detection of fraud and error is not the primary responsibility of the auditor in a business organization, is therefore important to note with great concern that the auditors is not absorbed from the responsibility of fraud or error committed by directors or managers of a company.

The auditor must therefore satisfy himself that the accounts are incorrect in the consequent of fraud or error committed in director managers’ consequent upon the paradox position in which the auditors has found himself as regards the detection and prevention of fraud and errors the mechanism need to be instituted the efficiency by which the auditor can rely upon in carrying out his work. This brings us to internal check and control as the system of control, financing and otherwise, established by the government in order to carry on the enterprise business in an orderly and efficient manner. It is design to ensure adherence to management policies, safeguard the assets and secure as fair as possible. The completeness and the accuracy of the records. It brings into play both internal check and internal audit (auditing guidelines 2004).

1.2 HISTORICAL BACKGROUND OF CHAMPION BREWERIES COMPANY PLC. UYO

Champion breweries plc, was incorporated as a private limited liability company on 31st of July 1974 with the name south east breweries limited. Because of political imperative in Nigeria, the company’s name was change from south east breweries to cross river breweries and thereafter to champion breweries limited. The later name, champion breweries plc, on the 1st of September 1992.

On the 20th of November 1974, the government of the south eastern state of Nigeria signed an agreement with Messers Haable Barerie GMBH of Hambling (Technical partner) for the supply and construction of a Turkey Brewery in Uyo with a capacity of 150.00 hectoliters. The foundation stone of breweries was laid on the 19th of March 1975. On 11th December, 1976, the brewery was officially commissioned and its products champion larger beer lunched into the market with success.

On the 22nd of July 1977, a second contract was signed with the technical partners to increase the capacity of brewery from 150,000 10 500,000 hectoliters. The foundation stone for the expansion was laid on the 24th December 1977. The expansion which uncorrupted more sophisticated machinery was completed and put on the trial run in September 1979. The second production line was officially commissioned on the 11thof December 1979, the same year the company’s product “champion ledger beer” and “Champ Malta” won silver medal at an international contest in Paris, France. Champion lager beer had previously won the election for beer and non-alcoholic beverage in Luxemburg.

The champion breweries located at Aka Offot along Nung Udoe Road about 3km from Ibom Plaza, are mainly engaged in production and distribution of champion beer and champion Malta (soft drink).

Consequently upon pressure of demand for its products, the company took a decision to double its capacity to one million hectoliters. This third expansion which gulped substantial resources could not be realized. The non-completion of the expansion programme coupled with lack of working capital, and inadequate maintenance of the plants forced the company to close its doors for business between 1990 and 1991. All subsequent reactivation attempts did not yield desired result.

With the advent of democracy in Nigeria in May 1999 the government of Akwa Ibom State made reaction of the brewery a cardinal activity.

Consequently, Akwa Ibom investment and industrial promotion council (AKIIPOC) was charged with responsibility to reactivate the company pursuance to this mandate, AKIIPOC, in conjunction with the board of directors of the company went to the market to solicit for core investor technical managers. In process, Messrs, Montgomery ventures incorporated of Paroma (with offices in Geneva, Switzerland was identified and brought into the company as core investors/technical managers after a memorandum of understanding was signed.

Based on a memorandum, reactivation committee was set up by the board of the company to work with the core investors and technical managers for revamping of the company.

The reactivation process, which commenced in February, 2000, lasted about nineteen months. Now the plants has been revamped and restricted to use one hundred percent locally sourced raw material. The brewery is now fully operational and the capacity is 500,000 hectoliters per annum.

The reactive brewery was officially commissioned on 23rd October, 2001. Champion larger beers is now in the market and doing well, other products of the company including Champ Malta will follow soon. Already the company has successfully held an extra-ordinary general meeting of the shareholders during which approval was given for authorized share capital of company to be increased from N26 million to N 45 million. The second phase of the reactivation programme has begun already. The aim is to diversify the company’s product and bring the capacity to 1,000,000 hectoliters per annum.

Moreover, the company has been able to create employment opportunities for both the people in the locality and Akwa Ibom State at large.

The staff strength is three hundred (300) which is made up of administrative, personnel, finance, marketing and operations.

1.3 STATEMENT OF THE PROBLEM

The research attempts to investigate the problem of the role of internal auditor in a business organization such as lack of independence, confidence among others. How the combine effect of these problem hinder the organizational progress. The negligence of auditor’s reports by management also constitutes a problem.

1.4 SCOPE OF THE STUDY

The study was Concentrated on the structure of auditors’ role in a business organization. The study will also go further to deal with the role of internal auditor’s fraud control, type of an auditor, who is an auditor, duties/responsibilities of internal auditors and so on.

1.5 PURPOSE/OBJECTIVE OF THE STUDY

The purpose and objective of the study are:-

1 To know the role of internal auditors in a business organization

2 To evaluate whether auditors’ role is important in a business organization.

To know the contributions of internal auditors to the progress of an organizations.

To identify the possible causes of fraud in champion brewery plc. Uyo of which auditors try to prevent.

5 To evaluate the procedures of auditing by internal auditors of champion brewery plc. Uyo and finally to know the reason auditors role has failed to prevent fraud in champion brewery Plc Uyo.

1.6 SIGNIFICANCE OF THE STUDY

a) It will increase and expand the knowledge of prospective students of accountancy on the role of internal auditors in a business organization.

b) Proffer solution thereby trying to solve problem arising from the role of internal auditors in business organization.

c) It will definitely serve as a reference point of criticism for further research.

d) It will suggest and also proffer solutions which will help moderate and regulate the role of internal auditors in a business organization.

RESEARCH HYPOYESIS

1 HO: Internal auditors do not play any important role in an organization.

HI: Internal auditors play very important role in an organization.

2 HO: internal auditors do not help in keeping proper and efficient financial record in an organization.

HI: internal auditors do help in keeping proper and efficient financial record in an organization.

3 HO: internal auditors do not help in checking fraud and error in an organization

HI: internal auditors do help in checking fraud and error in an organization

1.8 LIMITATION OF THE STUDY

The lack of time and finances, the unavailability of reliable and authority’s texts by authorities in the field of auditing were some of the limitation of the study. Again most people are skeptical when it comes to giving out information especially such that is required for a research work like this.

DEFINITION OF TERMS AND ACRONYM

a) AUDIT: Audit is interpreted to mean an independent examination of an expression of an opinion on those financial statements so examined by external audit regarding a firm’s financial position at a particular period and to ensure that all applicable laws, regulations and policies and complied with Akpakpan 2002.

b) AUDIT REPORT: this is a communicated statement of opinion (judgment) based upon convincing evidence by an independent, word potent and authoritative person concerning the degree of correspondence, in all materials respects of accounting and information communicated by the entity (individual) companies government unit) established (American committee of auditor concept, Okezie 1991)

c) BUSINESS ORGANIZATION: this is a business unit or an enterprise that undergoes business transaction with the aim of making profit.

d) FRAUD: the crime of deceiving somebody in order to get money or goods illegally, a person who pretends to have qualities, abilities etc. that they don’t really have in order to deceive other (Advance Learners Oxford Dictionary 6th Edition 472)

e) ERROR: a mistake especially one that causes problems affects the result of something.

f) Accountability: this mean keeping proper records of revenue or income and making remittance to the account (Anyanwu, 1997:27).

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: THE ROLE OF INTERNAL AUDITORS IN FRAUD CONTROL IN A BUSINESS ORGANIZATION (A CASE STUDY OF CHAMPION BREWERIES PLC UYO)

7 years ago 0 Comments Short URL

IMPACT OF BUDGETING CONTROL ON PROFITABILITY OF AN ORGANIZATION (A STUDY OF SAMSUNG ELECTRONICS NIGERIA PLC)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

IMPACT OF BUDGETING CONTROL ON PROFITABILITY OF AN ORGANIZATION (A STUDY OF SAMSUNG ELECTRONICS NIGERIA PLC)

ABSTRACT

This study examined the impact of budgetary control on profitability of an organization. Thus, the importance of budgetary cannot be emphasized in business organization, as management needs to embark on budget to effect proper planning and control. In this vein, budgeting can be seen as a process of planning and control. Proper budgeting can never affect efficient plans of organization without control. Thus, the desire to examine whether budgetary control is practicable in Samsung Electronics Nigeria Plc ignited this study. To achieve this objective, four research questions and two research hypotheses were formulated to guide this study. A well structured questionnaire was used as the major instrument to gather data from the 70 staff and management of Samsung Electronics Nigeria Plc and a sample size of 60 were randomly selected. The data collected from the respondents were analyzed using simple percentage and Chi-square statistical tool was employ for testing the hypotheses. The study concluded with some recommendations that the management of Samsung Electronics Nigeria Plc should make use of budgetary control to avoid failure in business.

TABLE OF CONTENTS

Cover Page – – – – – – – –

Title Page – – – – – – – –

Certification – – – – – – – –

Dedication – – – – – – – –

Acknowledgements – – – – – –

Abstract – – – – – – – –

Table of Contents – – – – – – –

Chapter One: Introduction

1.1 Background of the Study – – – – –

1.2 Statement of the Problem – – – – –

1.3 Objectives of the Study – – – – –

1.4 Research Questions – – – – –

1.5 Research Hypotheses – – – – –

1.6 Significance of the Study – – – – –

1.7 Scope of the Study – – – – – –

1.8 Limitation of the Study – – – – –

1.9 Definition of Terms – – – – –

Chapter Two: Review of Related Literature

2.1 Introduction – – – – – –

2.2 Theoretical framework – – – – –

2.3 Concept of budget – – – – – –

2.4 Meaning of budget – – – – –

2.5 Purpose of budgeting – – – – –

2.6 Types of government budget – – – –

2.7 Conditions for effective budgeting control system –

2.8 Problems of budgeting – – – – –

2.9 Essential of budgeting control – – – –

2.10 Behavioural aspect of budgetary planning and

Control – – – – – – –

Chapter Three: Research Methodology

3.1 Introduction – – – – – –

3.2 Research Design – – – – – –

3.3 Area of the Study – – – – – –

3.4 Population of the Study – – – – –

3.5 Sample Size and Sampling Techniques – –

3.6 Instrument for Data Collection – – – –

3.7 Method of Data Collection – – – –

3.8 Method of Data Analysis – – – – –

Chapter Four: Presentation, Analysis and Interpretation of Data

4.1 Introduction – – – – – – –

4.2 Presentation and Analysis of Data – – –

4.3 Testing of Hypotheses – – – – –

4.4 Discussion of Findings – – – – –

Chapter Five: Summary, Conclusion and Recommendations

5.1 Introduction – – – – – – –

5.2 Summary – – – – – – –

5.3 Conclusion – – – – – – –

5.4 Recommendations – – – – – –

References – – – – – – –

Appendices – – – – – – –

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The process of preparing and using budget to achieve management objectives is called “budgeting”. Budgeting is an essential element which is vital to management accounting technique which can benefit all aspect of business if it is understood and properly used. The growing complexity of the business environment and the ever increasing competition among firms in the modern time makes planning and budgeting inevitable tool for business success (Lucey 2010).

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 (Pandy, 1985). Therefore budgeting is one of the tools adopted by management for effective cost planning, control and increase in productivity.

Wildarsky (1984:213) argued that because a budget served diverse purposes, it mean different things to different people, among the various possible interpretations given by him include; it is a plan, it is a prediction, and it is a link between financial resource and human behavior to accomplish policy objectives. Also, it is a mechanism for making choices among alternative expenditure.

Rufus Wizon (2012) observed that without a budget a business may in order aim lessely. It may never know where it is going or where it should go. Even with a budget a business may not reach its planned objectives or destination, but the exercise of budgetary control will note the deviation from the plan and thus provide the opportunity for necessary corrective action. The making of such plans and the continuous review and execution are the essence of budgetary control.

Batty (1982), defined budgetary control as a system which uses budgets as a means of planning and control-ling all aspects of producing and or selling commodities or services. This is true as we tend to prepare revenue and expenditure variance analysis to be able to deduce areas of divergences for which the management needs to watch to avoid embarrassment as any adverse variance will translate into inability to meet the corporate objective which will eventually lead to disagreement with stakeholders.

1.2 STATEMENT OF THE PROBLEM

Most often budget and budgetary control research concentrated on its impact in the Federal Government budget and its attempt to control the use of public fund. There is no doubt that some other write-ups on budget and budgetary control has concentrated greatly on profit oriented organization, the issue failed to emphasize on the issue of budgetary control which is the bedrock for which budget implementation could be more effective and plans realization efficient.

Budgets are attention directed and forward looking on financial statement. Budget tends to ensure goal congruence and elicit managerial efforts which are both wrapped up in motivation. Budgets relate to objectives and policies to managerial responsibilities, and facilitate accountability. In profit seeking organization budgetary control provide relevant information relating to what the organization wants to achieve and the measure it would adopt to translate its plans into reality. Time has come to direct our searching eyes of budgeting to budgetary control in our manufacturing companies.

1.3 OBJECTIVES OF THE STUDY

The objective of the study is based on the statement raised in the preceding paragraph. They are:

To examine the impact of budgetary control on profitability in an organization.

To determine whether budgetary control is practicable in Samsung Electronics Nigeria Plc.

To find out the benefits of budgetary control to shareholders of an organization.

To find out whether budgetary control has been implemented in Samsung Electronics Plc.

To make useful recommendations based on research findings

1.4 RESEARCH QUESTIONS

The following research questions are generated to guide this study:

What are the impacts of budgeting control of profitability in an organization?

Does budgetary control is practicable in Samsung Electronics Nigeria Plc?

What are the benefits of budgeting control to shareholders of Samsung Electronics Nigeria Plc?

Has budgetary control been implemented in Samsung Electronics Nigeria Plc?

1.5 RESEARCH OF HYPOTHESES

The following research hypotheses were formulated to guide this study.

Hypothesis 1

H0: There is no significant relationship between budgeting control and profitability in an organization

Hypothesis 2

H0: There is no significant relationship between budgetary control and the benefits to shareholders in Samsung Electronics Nigeria Plc.

1.6 SIGNIFICANCE OF THE STUDY

It is the major way in which the organizational objectives are translated into specific plans, tasks and objectives related to individual manager and supervisors; it should provide clear guidelines for current operations.

It is an important medium of communication for organizational plans and objective and of the progress towards meeting these objectives.

The development of budgets helps to achieve, co-ordinate the various departments and functions of the organization.

Performance at all levels is systematically reported and monitored thus aiding the control of current activities.

1.7 SCOPE OF THE STUDY

This study centered on the impact of budgeting control on profitability of an organization with a particular focus on Samsung Electronics Nigeria Plc.

1.8 LIMITATIONS OF THE STUDY

One of the major problems encountered in the course of this study was difficulty in obtaining data from the management body of the organization due to fear of disclosing their management strategies to competitors. Time constraints were also a problem in the course of this research work.

1.9 OPERATIONAL DEFINITION OF TERMS

PLANNING: Planning is defined as the activity where the managers analyzed the present conditions to determine the way of reaching a desired future state.

FORECASTING: This is the procedures and techniques for predicting condition or event that are expected to prevail in the future.

BUDGETING: This is a formulation of plans in a given period in numerical term.

BUDGET: This is defined as a future plan of action for the whole organization or a section there of, which is expressed in monetary term.

BUDGETARY CONTROL: This is the establishment of budget, relating to the responsibility of the executives to the requirement of the policy and the continuous comparism of actual performance with budgeted level so as to secure either by individual or collective action the objective of such policies.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: IMPACT OF BUDGETING CONTROL ON PROFITABILITY OF AN ORGANIZATION (A STUDY OF SAMSUNG ELECTRONICS NIGERIA PLC)

7 years ago 0 Comments Short URL

THE ROLE OF INSURANCE COMPANY IN MANAGEMENT OF RISK IN MEDIUM SCALE ORGANIZATION (A Study of Usmer Water Ventures, Uyo)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

THE ROLE OF INSURANCE COMPANY IN MANAGEMENT OF RISK IN MEDIUM SCALE ORGANIZATION (A Study of Usmer Water Ventures, Uyo)

ABSTRACT

The main purpose and focus of this study was to investigate and bring to limelight the roles of insurance company in management of risk in medium scale organization. The researcher used Usmer water ventures located at No. 2 Hospital Lane Uyo, Akwa Ibom State for her study. In order to achieve the objectives of the study, seven (7) research questions and five (5) hypothesis were formulated to give a proper guide to the study, literatures that were related to the variables of the topic under study were reviewed stated according to the hypothesis for the study. The researcher underwent descriptive research as she conducts the study. The sample size of the study was taken from the original samples of the population which was 28. As veritable tools for data collection, questionnaire, observation and interview were used for data collection. Chi-square analysis was used to test the hypothesis and arrived at reasonable conclusion and solution. Based on the findings of this study, it was recommended that management of business organization should not overlook the insurance of their business because that is the only way risk and uncertainties can be managed and controlled.

TABLE OF CONTENTS

Cover page

Title page

Declaration – – – – – – – i

Certification – – – – – – – ii

Dedication – – – – – – – iii

Acknowledgements – – – – – – iv

Abstract – – – – – – – – vi

Table of Contents – – – – – – vii

CHAPTER ONE: INTRODUCTION

1.1 Background of the Study – – – – 1

1.2 Statement of Problem – – – – 6

1.3 Objective of the Study – – – – 7

1.4 Research Questions – – – – – 8

1.5 Research Hypotheses – – – – 9

1.6 Significance of the Study – – – – 9

1.7 Scope of the Study – – – – – 11

1.8 Limitation of the Study – – – – 11

1.9 Definition of Terms – – – – – 12

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 Brief Introduction – – – – – 14

2.2 Theoretical Framework – – – – 15

2.2.1 Historical Development of Insurance Business in Nigeria – – – – – – – 15

2.2.2 The Concept of Insurance and Risk – 17

2.2.3 Various types of Risk in Medium Scale Organization

– – – – – – – – – 20

2.2.4 Various Insurance cover available for small and Medium Scale Organization – – – 21

2.3 Review of Current Literature – – 23

2.3.1 Challenges of Insurance Practitioners – 24

2.3.2 Management of Risk – – – – 28

2.3.3 Problems facing Insurance Company in Management of Risk in Medium Scale Organization – 30

CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY

3.1 Brief Introduction – – – – – 33

3.2 Area of the Study – – – – – 33

3.3 Research Design – – – – – 34

3.4 Population of the Study – – – – 34

3.5 Sample Size and Sampling Techniques – 35

3.6 Method of Data Collection – – – 35

3.7 Description of Instrument for Data collection- 36

3.8 Method of Data Analysis – – – – 37

3.9 Decision Rule – – – – – – 38

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Brief Introduction – – – – – 39

4.2 Analysis of Questionnaire Administered – 39

4.3 Analysis of Responses According to Research Questions – – – – – – – 45

4.4 Test of Hypotheses – – – – – 52

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENTATIONS

5.1 Brief Introduction – – – – – 66

5.2 Summary of the Study – – – – 66

5.3 Conclusions – – – – – – 67

5.4 Recommendations – – – – – 68

REFERENCES

APPENDIX

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Every purposeful and responsible enterprise quest is to improve and succeed in its prospection objective and for any business establishment to venture into achieving her goals and objectives must first and foremost take precautions in other to even though not to totally eradicate dangers and uncertainties that may subsequently come up will go a long way to limit it and its effects. It is at this point that a risk manager comes in to bring in ways in which risk could be managed in order to efficiently run and to achieve the organizational goals and objectives.

As we are in a business society one of the important thing most managers should have at the back of their mind is that there is no business enterprise that is free of risk, it certainly face some degree of risk, and some of the risk are controllable with respect to the appropriate taken against it whereas some are largely unpredictable. Before looking at the meaning of “risk management” it will be important to briefly examine the concept of risks. ISO 3100- International Organization for Standardization (2009) defined and summarized risk as the probability and/or impact of unfortunate events or the likelihood of loss. It went further to say that risks can be found anywhere from financial markets, project natural causes, securities, industrial processes, health, science experiments and so forth, therefore, risk ought to be managed in order to minimize the realization of unwanted opportunities.

Risk management is defined as a systematic process of identifying and assessing organization risks and taking actions to protect the firm against them (Encyclopedia of management) ISO 3100 (2009), want ahead to defined risk management as the identification, assessment and prioritization of risk followed by coordinated and economical application of resources to minimize, monitor and control the probability and/or impact of unfortunate event or to maximize the realization of opportunities. Risk management is a functional management process or transfer mechanism of identification, evaluation earnings of a business or other enterprise with minimum cost and maximum efficiency.

In a paper presented by “Insurance Training Centre” Ogere Ogun state dated April, 1987 titled “scope of risk management extend beyond mere handling of insurance risk, it does encompasses, the management of all types of risk. Risk management is concerned with formulating some forms of defensive strategy, which takes account of organizational assets and objectives. This price of work will initially examined the various mechanism employed by Anchor Insurance company in the Assessment of risk. These include:

Process of identification

Evaluation

Monitoring and controlling of such risk

The Identification of risk will include information on the proposal which reveals the physical and morale hazards of the subject matter of insurance.

The evaluation of risk views placement of value on the identified risks, which threatens a corporate assets. The monitoring and control of risk highlights the physical and financial control of risk that threatens assets.

The centre piece of this work will be to thoroughly analyze various means of identifying corporate objectives. These will include retention, reduction and transfer of risk. Also, taking steps pre-loss and post loss objectives and the procedure for transfer and reduction of loss. The entire work of this piece will be comprehensively packaged by ascertaining various hazards and inherent liabilities present at the risk and make recommendations based on experts opinion to enable underwriter to decide whether the risk offered is acceptable at standard rate or otherwise. Finally, this work will also suggest ways and means for prudent risk management is respect with those risks that corporate bodies like Anchor Insurance Company as an entity is faced with and bring about reduction to loss exposure.

1.2 Statement of the Problem

The major problem of this research work is centered on how to reduce risk in Usmer Water which will in turn enhance its development and also aids its management in successfully achieve their prospective objectives. Furthermore, the research work has communication shows as one of the most important aspect of the challenge. This is because it has to do with management as an efficient means of achieving corporate objectives of small and medium scale business and also the quest to achieving objective and maximizing risk is its most vocal point.

In addition to these challenges and constrains, lack of technical know-how could be said to be another major problems confronting Usmer Water. As an efficient means of achieving corporate objectives does not easily manifest or come to lime light because basic insurance information sometimes does not reach most managers due to their lack of enterprise, and most managers due to their lack of expertise fail to go into research to source for information that will effectively aid the organization in taking a cover against these risk and uncertainties that might come up and pronounce the challenge faced in risk management in Usmer water and also the challenges of insurance practitioners (risk managers) in making Usmer water a better and improved company by providing ways and means of curbing risks in mentioned enterprise so as to improve its development and growth.

1.3 objectives of the Study

To find out if there is risk management in Usmer Water.

To find out the challenges Usmer Water faced in risk management

To examine the contribution of insurance company in managing of risk in Usmer Water.

To find out the insurance plan in regards to Usmer Water

To ascertained if there is any damage as a result of lack of risk management.

1.4 Research Questions

For the purpose of this study, the following research questions have been proposed by the researcher.

Is there insurance management in Usmer Water?

What are the challenges faced in risk management in Usmer Water?

What are the contributions of this insurance company since the registration of Usmer Water Company?

What are the insurance plans like in Usmer Water?

1.5 Research Hypotheses

Ho: There is no significant relationship between risk management and Usmer Water.

Ho: There is no significant relationship between risk challenges and Usmer Water.

Ho: There is no contribution between insurance company and Usmer Water.

Ho: There is no significant insurance policy and Usmer Water

Ho: There is no significant damages in Usmer Water and failures in risk management.

1.6 Significance of the Study

If this project was not intelligible enough it could not have been approved, the project supervisor and the researcher believed that some people will benefit from this project topic when it is properly done. Having know the important role the insurance company play in management of risk in most medium scale businesses, this study is therefore meant to show that is inevitable for a business organization to function without a back-up or support in case something gets wrong in the long run.

However, the important of this research to management of any organization both profit and non-profit organizations, students both graduate and undergraduate will not be over emphasized. Generally, everybody, all business enterprise that want to survive in these ever dynamic business world must learn to plan and associate themselves with insurance company for it serves as a platform of support which they will fall back to in case any risk comes up later in the future.

1.7 Scope of the Study

The area of this study was limited to Usmer Water in no. 2 Hospital Lane, Uyo, Akwa Ibom State. The reason this case study was chosen because of its proximity and nearness to the capital city of Uyo which is populated with so many good business and well distribution outlets. Another reason for limiting the study to Uyo was to meet up with time and also to reduce the financial constraints.

1.8 Limitation of the Study

During the time of this research work, there were many impediments I encountered, and such impediments are:

Time: This is a major factor I encountered as I was going through this work. There were many responsibilities I had to take care of, such as my class assignment, attending classes, taking test and especially in the areas of data collection and other relevant information which would aid me in writing this project so there was limited.

Finance: Inadequate finance has always been a problem to any student especially those who are sponsoring themselves. These research work would have been ready in time had it been I had enough money to acquire all the necessary data needed to complete this research work.

1.9 Definition of Terms

In this area of the research work, certain key words are summarized.

Risk: A situation of uncertainty as to the outcome of an event.

Risk Management: The process involving identification measurement and economic control of risk that threatens the assets and profits of a business enterprise.

Insurance: A legal way of protecting your properties, life etc, against loss or harm arising unexpectedly in consideration of a payment proportionate to the risk involved.

Enterprise: A business entity or organization

Hazard: A physical or mortal features that cause damages.

Survey: An inspection of premises or property proposed for insurance.

Objectives: A goal one has set to achieve in future.

Management: The act of running and controlling the affairs of business.

Evaluation: The act of forming an opinion of the amount, value or quality of something after thinking about it careful

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS:

Tags: THE ROLE OF INSURANCE COMPANY IN MANAGEMENT OF RISK IN MEDIUM SCALE ORGANIZATION (A STUDY OF USMER WATER VENTURES, UYO)

7 years ago 0 Comments Short URL

THE CHALLENGES OF AN ACCOUNTANT IN PROMOTING GOOD ACCOUNTING RECORD IN A MULTI-NATIONAL BUSINESS ENTERPRISE (A STUDY OF LG ELECTRONICS COMPANY)

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

THE CHALLENGES OF AN ACCOUNTANT IN PROMOTING GOOD ACCOUNTING RECORD IN A MULTI-NATIONAL BUSINESS ENTERPRISE (A STUDY OF LG ELECTRONICS COMPANY)

ABSTRACT

This research work is aimed at “The Challenges of an Accountant in Promoting good Accounting Record in a Multi-National Business Enterprise” (A study of LG Electronics Limited, Uyo). Being investigative and description in nature make use of sample percentage statistical tools for analysis. In all is copies of questionnaire containing 20 question were sent out to the respondent which 13 copies of the questionnaire was successfully returned representing 86.6% and 2 copies was not returned representing 13.4%. Based on the findings, it is discovered that certain factors tend to pose problem to the affective striving and development of multi-national business enterprise accounting record. The investigation business enterprises accounting “LG Electronics company” is that, the incentive given by the auditor make Mr. LG not to see the need of having an accountant in his establishment. As a matter of fact, it is prudent for the under review study to have an accountant because at financial loss or mismanagement of financial data because the visit of the auditor is monthly and yearly which at any time in place problem may arise. While in the case of an accountant he is to cover the gap between the management and the auditor.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The ultimate objective of all business undertaking is making profit. It would be very difficult, if not impossible to ascertain whether a business is making a profit or loss without the keeping of complete and up to date records of accounts. There is a common misunderstanding among new traders that everything that remains is their aim after paying for goods is profit. This obviously not true, it is of pay amount importance for any business man is general and new trader in particular to be able to calculate the firm’s profits correctly. A mistaker could lead to serious consequences goods may not price accordingly and a lot of unnecessary assumptions of big profits (Robbins and Decenzo, 1995). Again, most new traders depend on business for their livelihood. How much they should draw from the business for their personal use should depend almost entirely on the profitability of a business, a trader who is enable to ascertain his profit with a faire degree of accuracy is liable to make excessive drawing which could make it very difficult for him to meet business commitment. (Lassort and Clavier 1989) considering the above scenario, accountant plays accounting record in multinational business enterprises because; condition a business involves a number of transaction. Every transaction affects the financial position of the business. The multitude of this transaction forbids any attempt to trust all or any of them to memory. A proper record should therefore be kept of that at any required (Akpan 1999) moment a reference can be made to the records to find the effect of each transaction and the combine effect of the transactions. Akwa Ibom State is one of the developing states in Nigeria, more than 50 percent of the people are found to be engaged in agricultural sector and the rest are employed in service and industries. Unemployment is approximately 40 percent and the state lacks skilled manpower. However, the productivity of agriculture is falling down and the population of the state is at an increasing trend. Therefore, the traditional occupation is not enough to meet the growing need of the Akwa Ibom people. Now the people have started to think about the alternative source of income where financial institution defined by Ande (2008) as all business organization which hold money for individual and may borrow from them in order to give loan or make other investment; have been regarded to be the core alternative way of solving the problem. It is observed that the strength of its business development recently, financial needs of the economy development has been increased in size because of inadequate finance by the sole proprietor, partnership, entrepreneurs and investors. LG Company in particular has been offering assistance to this inscrutable sub-section of the economy. LG electronics company has expose people of Akwa Ibom to know and enjoy the benefit of electronic offered by LG company to their customers. The company has in many occasions been recognized as the major source of economics development especially through facilities like electronics.

1.2 Statement of the Problem

A number of business organization are yet to understand the fact that without accurate accounting record about their organization the perpetual and profitable existence of such activities is threatened. Since accounting information help in no meager measure in the attainment of the corporate goal of any organization this research intends to look at the problems drawn out by the following questions, the problems is:

Lack of good accounting technique

Lack of adequate information for managerial decision making.

Poor price allocation techniques

Lack of record for assessment enterprise ability

Lack of adequate delegate to duties.

1.3 Objectives of the Study

The primary aim of this study is to examine the difficulties an accountant face in promoting good accounting records in a multi-national business enterprise. The major objective of this study is to find out the difficulties of an accountant in developing the multi-national business enterprises in Akwa Ibom State. The general objectives will include:

To analyze the challenges of an accountant to multi-national business enterprises.

To find out the implication of accountant’s challenges in multi-national business enterprise.

To find the activities of multi-national business enterprise in Akwa Ibom State.

1.4 Significance of the Study

The research work would be of benefit to improve an explore ideas, reference materials to access the challenges of an accountant in promoting good accounting record in multi-national business enterprises.

It is expected that the study was enlighten the employees.

It would serve as a point of reference to the employers and other researcher who may carry out further research on this topic.

It would also serve a point of benefit and adequately educate the interested group of the public who are researching on this very topic.

It would serve as a benefit to the students who will further study of this topic.

1.5 Scope of the Study

The scope of this study covers the usefulness and examination of an accountant challenge in the drive to attain corporate survival of LG Company in Uyo.

1.6 Research Questions

How does accounting record help in achieving the objectives of an organization?

How does the management prove that their financial record can face the test of time?

How does the management prove that a record is accurate and reliable?

1.7 Definition of Terms

Entrepreneurship: This is the willingness and ability of an individual to identify and successfully carryout investment opportunities is an environment (Nelson, August 2001:31).

Accountant: This is a person who specialized in recording, classifying and communicating of financial data of an organization or a firm. (P.E. Essien 2004).

Auditor: An auditor is a person who carried out auditing work (Urugbu, Angus O. and Obi, Bridgaet C. 2007).

1.8 Organization of the Study

This study is organized into five chapters. Chapter one deals with the background, information of the study. Chapter two deals with reviewed of the related literature outline in details. Chapter three deals with research methodology of the study. In chapter four data collected are stated, analyzed and interpreted to give the desire result. Finally, chapter five make a summary of the findings, conclusion and recommendations.

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) immediately we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

HOW TO IDENTIFY SCAM/FRAUD

As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.

But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.

Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.

No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner

CAUTION/WARNING

That you ordered this material shows you have agreed not to copy word-to-word.

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

AFFILIATE LINKS: