CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Budgeting and budgetary control will continue to play a significant role in public organizations in Nigeria, considering the need to compete favorably with other organizations (both public and private) and make sure the organization is a going concern, most government agencies have adopted budgets and budgetary control techniques to effectively and efficiently allocate resources and achieve stated goals.
Every Business oriented organization is aimed among other at making profits as high as possible. All efforts, therefore are diversified at effective planning process with a maximum cost involvement in its decision making drive towards achieving the desired objectives, management often provides basic guideline which are quantified in financial terms and it mineral values.
Budgeting is required to achieve many deferent aims within an organization, if not only aid in planning, co-ordinations and communicating the activities of the organization, but also as a control and motivating devices in the management of the management of the organization.
Budgeting call for effective monitoring and controlled by the head of the organization since budget animates from different sections departments and all the branches of a company which no company is an exception so as to guarantee its reliability and also minimize deviation from plans. Budgeting starts with the setting out of the objectives of the organization by the management for the budget year according to government’s fiscal and monetary guideline and policies. The top management staffs must communicate the policy affect the long term plan to those who are responsible for preparing the current year budget. The manager prepare the minimal budgets for those area for which they are responsible and submit it to their supervisory officer while the budget is examined and summarized into master budget which consists of budgeted profits and loss accounts, balance sheet and the cash statement.
The approval of the master budget constitute authorities of the manager countered in carrying out the plants while are contained in each budget.
For management to provide adequate control over the over the budget of an organization, It should co-ordinate all the various phrases of the firms activities and the collaboration of the responsible parties in achieving the actual results with budget to establish the variance. It should trace the variances to where it arose so as to control the various effectively.
1.2 STATEMENT OF THE PROBLEM
The decision as to how to distribute limited financial and non-financial resources, in an effective and efficient manner, is an important challenge in all organizations. In government agencies, this task would be nearly impossible without budgeting. Without effective budget analysis and feedback about budgetary problems, many organizations and government agencies would become bankrupt. Some of the problems arise from inadequate data to formulate and implement a proper budget; and non existence of well defined structure, which leads to overlapping of duties. These deficiencies can therefore be addressed through the use of budgeting instrument. Therefore, this study traces the extent by which budgeting can used as a good planning and controlling tool in Ministry of Finance, Uyo.
1.3 OBJECTIVES OF THE STUDY
The main aim of the study is to examine budgeting as an instrument of administrative control of public agencies in Nigeria. Specific objectives of the study are:
- To find out whether budgetary aid effective planning and control in Ministry of Finance, Uyo.
- To examine whether budgeting control is used as an instrument of enhancing organizational performance.
- To examine whether budgetary control affect the working performance of employees in Ministry of Finance, Uyo.
- To determine whether budgetary control has contributed to the success of Ministry of Finance, Uyo.
1.4 RESEARCH QUESTIONS
In-order to guide the study and achieve the stated objectives for the study, the following research questions was formulated:
- Does budgeting aid effective planning and control in Ministry of Finance, Uyo?
- Does budgetary control used as an instrument of enhancing organizational performance?
- Has budgetary control contributed success of Ministry of Finance, Uyo?
- Does budgetary control affect the working performance of employees of Ministry of Finance, Uyo?
1.5 RESEARCH HYPOTHESES
HYPOTHESIS 1
H0: Budgetary does not aid effective planning and control in Nigeria in Ministry of Finance, Uyo.
HYPOTHESIS 2
H0: Budgetary control does not used as an instrument of enhancing organization.
1.6 SIGNIFICANCE OF THE STUDY
The addition of knowledge is basically the aim of every research and this research work seeks to achieve just that. More importantly, this research is necessary in understanding how the budgetary control is established, and also how it affects organizational performance.
It is a tool which measures managerial performance of an organization and promotes good morale and harmony in the organization. It enable the organization verify whether or not the plans of the organization are understood by all members, and put into effect corrective measures where deviation or under deviation is occurring.
Since budget is a tool for planning, and financial planning is of almost significance to a business man, it enables the organization project the future consequences of present decisions in order to avoid surprises and understand the link between present and future decision.
1.7 SCOPE OF THE STUDY
The study examines budgeting as an instrument of administrative control of public agencies in Nigeria, using Ministry of Finance, Uyo as a study area.
1.8 LIMITATION OF THE STUDY
The study limitation was inability of management to divulge certain information which they consider sensitive and fear of publication which might be detrimental to their operation.
Distance and its attendant cost of travel in order to obtain information which to write this study was also a major limitation. Another limitation to the study is short time factor which did not give time for thorough research work, hence gathering adequate information becomes very difficult.
Finally, lack of materials on the topic; this is new in the area of budgeting as an instrument of administrative control of public agencies in Nigeria. Therefore, the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the organization under study through the administration of questionnaire.
1.9 DEFINITION OF TERMS
- BUDGET: The chartered institute of management Accountants (CIMA) defines budget as “a plan quantified in monetary terms, prepared and approved prior to a defined period usually one year, showing planned income to be generated and expenditure to be incurred during that period, and he capital to be employed to attain that objective.
- BUDGETARY CONTROL: This is the establishment of a budget relating the responsibilities of executives to the requirements of a policy and the continuous comparison of actual with budgeted results either to secure the individual actions with the objective of that policy or to provide a basis for its revision.
- PLANNING: This is the establishment of objectives, and the formulation, evaluation and selection of the policies, strategies, tactics, and action required to achieve these objectives.
- CONTROL: This s the process of ensuring that a firm’s activities conform to its plans and that its objectives are achieved.
- VARIANCE: this is the difference between planned (budgeted) and actual results.
- FAVOURABLE VARIANCE: This is excess of the budgeted result over the actual result, in the case of cost. But in the case of revenue it is the excess of that result over the budgeted.
- UNFAVOURABL VARIANCE: this is the excess of actual result are the budgeted in terms of cost and vice-versa in terms of revenue.
- BUSINESS: Any establishment which has profit motive or maximization as its major objectives.
- ORGANIZATION: All establishment whether government or privately owned
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: BUDGETING AS AN INSTRUMENT OF ADMINISTRATIVE CONTROL OF PUBLIC AGENCIES IN NIGERIA (A STUDY OF MINISTRY OF FINANCE, UYO)
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Budgeting and budgetary control will continue to play a significant role in public organizations in Nigeria, considering the need to compete favorably with other organizations (both public and private) and make sure the organization is a going concern, most government agencies have adopted budgets and budgetary control techniques to effectively and efficiently allocate resources and achieve stated goals.
Every Business oriented organization is aimed among other at making profits as high as possible. All efforts, therefore are diversified at effective planning process with a maximum cost involvement in its decision making drive towards achieving the desired objectives, management often provides basic guideline which are quantified in financial terms and it mineral values.
Budgeting is required to achieve many deferent aims within an organization, if not only aid in planning, co-ordinations and communicating the activities of the organization, but also as a control and motivating devices in the management of the management of the organization.
Budgeting call for effective monitoring and controlled by the head of the organization since budget animates from different sections departments and all the branches of a company which no company is an exception so as to guarantee its reliability and also minimize deviation from plans. Budgeting starts with the setting out of the objectives of the organization by the management for the budget year according to government’s fiscal and monetary guideline and policies. The top management staffs must communicate the policy affect the long term plan to those who are responsible for preparing the current year budget. The manager prepare the minimal budgets for those area for which they are responsible and submit it to their supervisory officer while the budget is examined and summarized into master budget which consists of budgeted profits and loss accounts, balance sheet and the cash statement.
The approval of the master budget constitute authorities of the manager countered in carrying out the plants while are contained in each budget.
For management to provide adequate control over the over the budget of an organization, It should co-ordinate all the various phrases of the firms activities and the collaboration of the responsible parties in achieving the actual results with budget to establish the variance. It should trace the variances to where it arose so as to control the various effectively.
1.2 STATEMENT OF THE PROBLEM
The decision as to how to distribute limited financial and non-financial resources, in an effective and efficient manner, is an important challenge in all organizations. In government agencies, this task would be nearly impossible without budgeting. Without effective budget analysis and feedback about budgetary problems, many organizations and government agencies would become bankrupt. Some of the problems arise from inadequate data to formulate and implement a proper budget; and non existence of well defined structure, which leads to overlapping of duties. These deficiencies can therefore be addressed through the use of budgeting instrument. Therefore, this study traces the extent by which budgeting can used as a good planning and controlling tool in Ministry of Finance, Uyo.
1.3 OBJECTIVES OF THE STUDY
The main aim of the study is to examine budgeting as an instrument of administrative control of public agencies in Nigeria. Specific objectives of the study are:
- To find out whether budgetary aid effective planning and control in Ministry of Finance, Uyo.
- To examine whether budgeting control is used as an instrument of enhancing organizational performance.
- To examine whether budgetary control affect the working performance of employees in Ministry of Finance, Uyo.
- To determine whether budgetary control has contributed to the success of Ministry of Finance, Uyo.
1.4 RESEARCH QUESTIONS
In-order to guide the study and achieve the stated objectives for the study, the following research questions was formulated:
- Does budgeting aid effective planning and control in Ministry of Finance, Uyo?
- Does budgetary control used as an instrument of enhancing organizational performance?
- Has budgetary control contributed success of Ministry of Finance, Uyo?
- Does budgetary control affect the working performance of employees of Ministry of Finance, Uyo?
1.5 RESEARCH HYPOTHESES
HYPOTHESIS 1
H0: Budgetary does not aid effective planning and control in Nigeria in Ministry of Finance, Uyo.
HYPOTHESIS 2
H0: Budgetary control does not used as an instrument of enhancing organization.
1.6 SIGNIFICANCE OF THE STUDY
The addition of knowledge is basically the aim of every research and this research work seeks to achieve just that. More importantly, this research is necessary in understanding how the budgetary control is established, and also how it affects organizational performance.
It is a tool which measures managerial performance of an organization and promotes good morale and harmony in the organization. It enable the organization verify whether or not the plans of the organization are understood by all members, and put into effect corrective measures where deviation or under deviation is occurring.
Since budget is a tool for planning, and financial planning is of almost significance to a business man, it enables the organization project the future consequences of present decisions in order to avoid surprises and understand the link between present and future decision.
1.7 SCOPE OF THE STUDY
The study examines budgeting as an instrument of administrative control of public agencies in Nigeria, using Ministry of Finance, Uyo as a study area.
1.8 LIMITATION OF THE STUDY
The study limitation was inability of management to divulge certain information which they consider sensitive and fear of publication which might be detrimental to their operation.
Distance and its attendant cost of travel in order to obtain information which to write this study was also a major limitation. Another limitation to the study is short time factor which did not give time for thorough research work, hence gathering adequate information becomes very difficult.
Finally, lack of materials on the topic; this is new in the area of budgeting as an instrument of administrative control of public agencies in Nigeria. Therefore, the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the organization under study through the administration of questionnaire.
1.9 DEFINITION OF TERMS
- BUDGET: The chartered institute of management Accountants (CIMA) defines budget as “a plan quantified in monetary terms, prepared and approved prior to a defined period usually one year, showing planned income to be generated and expenditure to be incurred during that period, and he capital to be employed to attain that objective.
- BUDGETARY CONTROL: This is the establishment of a budget relating the responsibilities of executives to the requirements of a policy and the continuous comparison of actual with budgeted results either to secure the individual actions with the objective of that policy or to provide a basis for its revision.
- PLANNING: This is the establishment of objectives, and the formulation, evaluation and selection of the policies, strategies, tactics, and action required to achieve these objectives.
- CONTROL: This s the process of ensuring that a firm’s activities conform to its plans and that its objectives are achieved.
- VARIANCE: this is the difference between planned (budgeted) and actual results.
- FAVOURABLE VARIANCE: This is excess of the budgeted result over the actual result, in the case of cost. But in the case of revenue it is the excess of that result over the budgeted.
- UNFAVOURABL VARIANCE: this is the excess of actual result are the budgeted in terms of cost and vice-versa in terms of revenue.
- BUSINESS: Any establishment which has profit motive or maximization as its major objectives.
- ORGANIZATION: All establishment whether government or privately owned
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: BUDGETING AS AN INSTRUMENT OF ADMINISTRATIVE CONTROL OF PUBLIC AGENCIES IN NIGERIA (A STUDY OF MINISTRY OF FINANCE, UYO)
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STDUY
Costing technique is the process depending upon the purpose for which management require information. Management information for a variety of purpose, such as control, decision making, predicting profits and price determination. Based on these, certain techniques and procedures are applied in order to have a comparative analysis about costs both directly and indirectly engaged in manufacturing service.
The Oxford Dictionary of Accounting 3rd edition (2005), defined costing techniques as techniques and procedures used in cost accounting and management accounting to obtain the cost of service, products, processes, and cost centers to provide the information required to undertake performance measures, decision making, planning and control. Costing technique is also termed as a technique of costing which is designed to suit the way goods are processed or manufactured or the way goods are provided, Lucy T. (2002). Therefore, each organization which uses costing techniques has unique features that will suit the company (firm).
Based on the above definitions of costing techniques an organization will field increase in profit if they apply the costing technique at where it is deemed appropriate. Therefore, this research is to examine costing technique as being applied in Mosmann Water Company Limited to see the impact it has created in the profitability of the organization.
1.2 STATEMENT OF THE PROBLEM
The rapid increase in competition among organizations has brought about an increase in awareness of profitability and the cost associated with the delivery of products and services.
These bring into question the relevance of traditional accounting information for decision making, conventional and managerial accounting information is largely driven by the procedures of the organizations reporting system which provides information that is to be aggregated and used. The problem is how to use this information to be planning and controlling of decision, vis avis profitability.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study are to find out the following;
- i) To examine if the impact of costing technique aid in the profitability of an organization.
- ii) To find out if the appropriate costing technique is being adopted by Mosmann Water Company Limited.
iii) To determine whether costing techniques help in the ascertainment of costs of a specified thing.
- iv) To find out the problems associated with the application of costing techniques in an organization.
- v) To make useful recommendations based on research findings.
- i) Does costing techniques aid in the profitability of an organization?
- ii) Does costing techniques help in the ascertainment of costs in an organization?
iii) Which of the costing techniques is deemed appropriate to apply in an organization?
- iv) What is the problem associated with costing techniques in an organization?
1.5 RESEARCH HYPOTHESES
HYPOTHESES 1
HO: There is no significant difference between costing techniques and profitability in an organization.
Hi: There is a significant difference between costing techniques and probability in an organization.
HYPOTHESES 2
HO: Costing techniques does not help in the ascertainment of a specified thing.
Hi: Costing techniques do help in the ascertainment of a cost.
1.6 SIGNIFICANCE OF THE STUDY
The ultimate goal of any industry or organization is to maximize profit. The goal can be achieve in the manufacturing or production company like Mosmann Water Company Uyo, through costing techniques on the probability of an organization.
The study is necessary because it would enable the employer and employee of Mosmann Water Company Limited to improve on the ethical behaviour in the management of the company.
It would be of immense benefits to investors who want to invest in the company and the shareholders of the company to earn more profit. It would also serve as a reference material (source) to researchers who might want to further studies in similar topic.
1.7 SCOPE OF THE STUDY
This study centered on appraising the impact of costing techniques on probability with a particular reference to Mosmann Water Company Limited, Uyo.
1.8 LIMITATION OF THE STDUY
This study is limited to the following ways;
- TIME CONSTRAINT: The period within which the study is conducted is short for through research study; hence, gathering adequate information becomes very difficult.
- FINANCE: This is one of the limitations to the scope of this study as the researcher is facing financial constraint to meet all the needed educational requirements including this research work. This caused the researcher to restrict her research work to one organization for possible study.
- LACK OF MATERIALS: Lack of materials to topic is also another limitation to this research work, hence the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the establishment under this study through the administration of questionnaire and oral interview.
1.9 DEFINITION OF TERMS
- COST: According to CIMA defined cost as the amount of expenditure (actual or national) incurred on, or attributable to a specified thing or activity.
- COSTING: Costing is defined as collecting, recording, classifying and allocating expenditure to ascertain the cost of product or service for planning and control purpose by indicating points where corrective action is required (Anuolam 1997).
- TECHNIQUES: This is a method of achieving something or carrying something out especially one requiring some skill or knowledge (investopidia.com)
- PROFITABILITY: This is the quality or state of being profitable.
- STANDARD COSTING: This can be defined as preparation of standard costs and their use to clarify the financial results of a business particularly by the measurement of variations of actual costs from standard costs and analysis of causes of the variations for the purpose of maintaining maximum efficiency by executive action (Batty, 2006).
- COSTING SYSTEM: This method is to be adopted by an organization depends upon the nature of productive being under taken by the organization (Kingsley, 2003).
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: APPRAISING THE IMPACT OF COSTING TECHNIQUES ON PROFITABILITY (A STUDY OF MOSMANN WATER COMPANY LTD, UYO)
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Costing technique is the process depending upon the purpose for which management require information. Management information for a variety of purpose, such as control, decision making, predicting profits and price determination. Based on these, certain techniques and procedures are applied in order to have a comparative analysis about costs both directly and indirectly engaged in manufacturing service.
The Oxford Dictionary of Accounting 3rd edition (2005), defined costing techniques as techniques and procedures used in cost accounting and management accounting to obtain the cost of service, products, processes, and cost centers to provide the information required to undertake performance measures, decision making, planning and control. Costing technique is also termed as a technique of costing which is designed to suit the way goods are processed or manufactured or the way goods are provided, Lucy T. (2002). Therefore, each organization which uses costing techniques has unique features that will suit the company (firm).
Based on the above definitions of costing techniques an organization will field increase in profit if they apply the costing technique at where it is deemed appropriate. Therefore, this research is to examine costing technique as being applied in Mosmann Water Company Limited to see the impact it has created in the profitability of the organization.
1.2 STATEMENT OF THE PROBLEM
The rapid increase in competition among organizations has brought about an increase in awareness of profitability and the cost associated with the delivery of products and services.
These bring into question the relevance of traditional accounting information for decision making, conventional and managerial accounting information is largely driven by the procedures of the organizations reporting system which provides information that is to be aggregated and used. The problem is how to use this information to be planning and controlling of decision, vis avis profitability.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study are to find out the following;
- i) To examine if the impact of costing technique aid in the profitability of an organization.
- ii) To find out if the appropriate costing technique is being adopted by Mosmann Water Company Limited.
iii) To determine whether costing techniques help in the ascertainment of costs of a specified thing.
- iv) To find out the problems associated with the application of costing techniques in an organization.
- v) To make useful recommendations based on research findings.
- i) Does costing techniques aid in the profitability of an organization?
- ii) Does costing techniques help in the ascertainment of costs in an organization?
iii) Which of the costing techniques is deemed appropriate to apply in an organization?
- iv) What is the problem associated with costing techniques in an organization?
1.5 RESEARCH HYPOTHESES
HYPOTHESES 1
HO: There is no significant difference between costing techniques and profitability in an organization.
Hi: There is a significant difference between costing techniques and probability in an organization.
HYPOTHESES 2
HO: Costing techniques does not help in the ascertainment of a specified thing.
Hi: Costing techniques do help in the ascertainment of a cost.
1.6 SIGNIFICANCE OF THE STUDY
The ultimate goal of any industry or organization is to maximize profit. The goal can be achieve in the manufacturing or production company like Mosmann Water Company Uyo, through costing techniques on the probability of an organization.
The study is necessary because it would enable the employer and employee of Mosmann Water Company Limited to improve on the ethical behaviour in the management of the company.
It would be of immense benefits to investors who want to invest in the company and the shareholders of the company to earn more profit. It would also serve as a reference material (source) to researchers who might want to further studies in similar topic.
1.7 SCOPE OF THE STUDY
This study centered on appraising the impact of costing techniques on probability with a particular reference to Mosmann Water Company Limited, Uyo.
1.8 LIMITATION OF THE STDUY
This study is limited to the following ways;
- TIME CONSTRAINT: The period within which the study is conducted is short for through research study; hence, gathering adequate information becomes very difficult.
- FINANCE: This is one of the limitations to the scope of this study as the researcher is facing financial constraint to meet all the needed educational requirements including this research work. This caused the researcher to restrict her research work to one organization for possible study.
- LACK OF MATERIALS: Lack of materials to topic is also another limitation to this research work, hence the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the establishment under this study through the administration of questionnaire and oral interview.
1.9 DEFINITION OF TERMS
- COST: According to CIMA defined cost as the amount of expenditure (actual or national) incurred on, or attributable to a specified thing or activity.
- COSTING: Costing is defined as collecting, recording, classifying and allocating expenditure to ascertain the cost of product or service for planning and control purpose by indicating points where corrective action is required (Anuolam 1997).
- TECHNIQUES: This is a method of achieving something or carrying something out especially one requiring some skill or knowledge (investopidia.com)
- PROFITABILITY: This is the quality or state of being profitable.
- STANDARD COSTING: This can be defined as preparation of standard costs and their use to clarify the financial results of a business particularly by the measurement of variations of actual costs from standard costs and analysis of causes of the variations for the purpose of maintaining maximum efficiency by executive action (Batty, 2006).
- COSTING SYSTEM: This method is to be adopted by an organization depends upon the nature of productive being under taken by the organization (Kingsley, 2003).
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: APPRAISING THE IMPACT OF COSTING TECHNIQUES ON PROFITABILITY (A STUDY OF MOSMANN WATER COMPANY LTD, UYO)
ABSTRACT
THE CONCEPT OF RISK
Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Bawcutt (1980). They define risk as follows:
- Risk is the object doubt concerning the outcome of a given situation.
- Risk is the uncertainty as to the occurrence of an economic loss.
- Risk is the combination of hazards.
- Risk is the chance of loss.
- Risk is the uncertainty of financial loss.
- Risk is the uncertainty in respect of future earning, cash flow and the assets of undertaking.
- Risk is the possible outcome which may occur at some future time.
- Risk is the probability of adverse returns from investment.
However is can be insured in the insurance industry in order to reduced losses. Because the insurer does not eliminate loss and cannot stop disaster or misfortune from happening but helps to compensate the victim.2.2Â TYPES OF RISKThe following are some types of risk that can be insured. According to David L. Bickel Haupt (1974) these include;
- Speculative Risk: This can occur as a result of gain or the possibility of loss. Many business risks fall into the category of speculative risk, such as risk associated with changes in customers taste, change of government policy, price of raw materials availability of foreign exchange etc.
- Fundamental Risk: This arise from social, economic and political pressures occurring within the society and from purely physical phenomena that affects whole community. Such as technology, unemployment, war, inflation, political instability, flood, windstorms, drought volcanic, earthquakes etc.
- Particular Risk: This are personal risk arising from individual event such as the burning of house, robbery of a bank and an act of personal negligence.
- Systematic Risk: This type of risk affects all companies either big or small, as a result of the system in which the company operates. Its an uncontrollable risk which cannot be prevented from happening. Examples are interest rate, inflation rate, competition, legal environment, cultural environment, demand and supply etc.
- Unsystematic Risk: This is an internal risk, that is peculiar to a particular companies. Example is fire disaster, fraud, strike, bank robbery etc.
2.3Â SOURCE OF RISKThe following are some common source of risks. James S.T Satldra G.G and Robert E.H (2001) state some of those source of risk. These consist of:
- Property Risk: Business that own rent or use property may be damaged, destroyed or stolen. If the damage is extensive, the business may be shut down temporarily thereby incurring a loss as a result of replacing the damage property.
- Liability Risk: This occurs as a result of payment made to compensate injured parties as well as to punish those responsible for the injures, even when an individuals is eventually absorbed of its liability.
- Financial risk: This is a risk that is speculative in nature and can impact on firm’s earnings. Examples of those financial risk include credit risk, foreign exchange risk, commodity risk and interest rate risk
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF LEED ASSURANCE COMPANY, UYO)
CHAPTER ONE
1.1 INTRODUCTION
The capital market is a highly specialized and organized financial market and indeed essential agent of economic growth because of its ability to facilitate and mobilize saving and investment. To a great extent, the positive relationship between capital accumulation real economic growths has long affirmed in economic theories (Anyanwu, 1993).
Success in capital accumulation and mobilization for development varies among nations, but it is largely dependent on domestic savings and inflows of foreign capital. Therefore, to arrest the menace of the current economic downturn, effort must be geared towards effective resources mobilization. It is in realization of this that consideration is given to measure for the development of capital market as an institution for the mobilization of finance from the surplus sectors to the deficit sectors.
The development of capital market in Nigeria, as in other developing countries has been induced by the government. Though prior to the establishment of stock market in Nigeria, there existed some less formal market arrangements for the operation of capital market. It was not prominent until the visit of Mr. J. B. Lobynesion in 1959, on the invitation of the Federal government, to advice on the role the Central Bank could play in the development of local money and capital market. As a follow-up to this, the government commissioned and a set up the Barback Committee to study and make recommendations on the ways and means of establishing a stock market in Nigeria as a formal capital market. Acting on the recommendation of the committee, the Lagos Stock Exchange (as it was called then) was set-up in March 1960, and in September 1961, it was incorporated under Section 2 cap 37, through the collaborative effort of Central Bank of Nigeria, the Business Community and Industrial Development Bank (Alile&Anao, 1990). With the establishment of the Central Bank of Nigeria in 1959 and the coming into existence of the Lagos Stock Exchange in 1961 and Subsequently, the Nigeria Stock Exchange by an Act in 1979, a sound foundation was laid for the operation of the Nigerian Capital Market for trading in securities of long term nature needed for the financing of the industrial sector and the economy at large. After the incorporation of the Lagos Stock Exchange, it was granted further protection under the law and its activities was placed under some sort of control by the government, hence the passing of the Lagos Stock Exchange Act. However, the Lagos Stock Exchange was only operational in Lagos. By the mid 70’s, the need for an efficient financial system for the whole nation was emphasized, and a review by the government of the operations of the Lagos Stock Exchange market was advocated. The review was carried out to take care of the low capital formation, the huge amount of currency in circulation which was held outside the banking system, the unsatisfactory demarcation between the operation of Commercial Banks and the emerging class of the Merchant Banks, and the extremely shallow depth of the capital.
In response to the problems mentioned above, the government accepted the principle of decentralization but opted for a National Stock Exchange, which will have branches in different parts of the country. On December 2nd 1977, the memorandum and article of association creating the Lagos Stock Exchange was transformed into the Nigerian Stock Exchange, with branches in Lagos, Kaduna, Port-Harcourt, Yola and now in Federal Capital Territory (FCT) Abuja some other cities. The history of Nigeria Capital Market could be traced to 1946 when the British colonial administration floated a N600, 000 local loan stock bearing interest at 3¼% for the financing of developmental projects under the Ten-Years Plan Local Ordinance. The loan stock, which had a maturity of 10-15 years, was oversubscribed by more than N1 million, yet local participation of the issued was terribly poor. Certainly, potential fund abound in Nigeria, but the overriding consideration in this project is to examine the impact of the capital market in harnessing and mobilizing these resources (fund) to generate economic growth in the country and consequently economic development.
1.2 STATEMENT OF THE PROBLEM
There is abundant evidence that most Nigerian businesses lack long-term capital. The business sector has depended mainly on short-term financing such as overdrafts to finance even long-term capital. Based on the maturity matching concept, such financing is risky. All such firms need to raise an appropriate mix of short- and long-term capital (Demirguc-Kunt& Levine 1996).
Most recent literatures on the Nigeria capital market have recognized the tremendous performance the market has recorded in recent times. However, the vital role of the capital market in economic growth and development has not been empirically investigated thereby creating a research gap in this area. This study is undertaken to examine the contribution of the capital market in the Nigerian economic growth and development. Aside the social and institutional factors inhibiting the process of economic development in Nigeria, the bottleneck created by the dearth of finance to the economy constitutes a major setback to its development. As a result, it is necessary to evaluate the Nigerian capital market.
1.3 OBJECTIVES OF THE STUDY
The broad objective of this study examined the activities and performance of Nigerian capital market. The specific objectives of the study are as follows:
To examine the operations of the Nigerian capital market. To evaluate the performance of the capital market in relation to the economic growth in Nigeria. To examine the rate at which new stocks are issued on the capital market. To identify the impediments of capital market in economic development of AkwaIbom State To make recommendations as to how the operations of the market could be improve to boost economic growth and development of Nigeria.
1.4 SIGNIFICANCE OF THE STUDY
The study explored the impact or effectiveness of capital market instruments on Nigerian economic growth. Though the scope of the study was limited to the capital market, it is hoped that the exploration of this market will provide a broad view of the operations of the capital market. It will contribute to existing literature on the subject matter by investigating empirically the role, which the capital market plays in the economic growth and development of the country. The main importance of this study is that it will provide policy recommendations to policy-makers on ways to improve operations and activities of the capital market.
1.5 RESEARCH QUESTIONS This research was guided by the following research questions:
How is the operation of Nigeria capital market? What is the performance of the capital market in relation to economic development of Akwa Ibom state?
iii. What are the activities of the capital market in Uyo branch?
What are the prospects of capital market in economic development of Nigeria? What are the impediments of capital market on economic development of Akwa Ibom State?
1.6 RESEARCH HYPOTHESIS
The following hypothesis was formulated to guide this study:
HYPOTHESIS 1
H0: That the capital market operations have no impact on Nigerian economic development.
H1: That the capital market operations have impact on Nigerian economic development.
HYPOTHESIS 2
H0: There is no significant relationship between performance of the capital market and economic development of AkwaIbom State.
H1: There is a significant relationship between performance of the capital market and economic development of AkwaIbom State.
HYPOTHESIS 3
H0: There are no impediments of capital market on economic development of Akwa Ibom State.
H1: There are impediments of capital market on economic development of Akwa Ibom State.
1.7 SCOPE OF THE STUDY
The study is limited to Nigerian Stock Exchange (NSE), Uyo branch and upon the research topic, which is centered on the impact of capital market on economic development of Akwa Ibom State.
1.8 LIMITATION OF THE STUDY
The limitation to this study on the following ways:
TIME FACTOR: The period within which the study is conducted is for thorough research study, hence gathering adequate information becomes difficult.
FINANCE: This is one of the limitations to the scope of this study. The researcher is facing financial constraint to meet all the educational requirements including this research work. This caused the researcher to restrict her research work to one company for possible completion.
1.9 DEFINITION OF TERMS
FINANCIAL MARKET:
This is a market in which people and entities can trade on financial securities, commodities and other financial facilities. It provides a mechanism for the efficient mobilization of funds from the surplus economic units (Supplier f funds) to the deficit economic units (Mbat2001.)
ISSUE: This is securities of a company or government sold by way of a public offering or private placement at a given point of time(Pat &James, 2010).
BONDS:
Interest bearing securities (i.e. debit securities) issued by corporate entities and government.
MARKET CAPITALIZATION:
This is the market value of a company’s paid-up capital determined by multiplying the current quoted price by the total number of shares outstanding. The market capitalization of a security exchange is the aggregate market capitalization of all its quoted securities(Mbat2001).
EQUITY:
This is ownership capital held by individuals, corporate bodies and sometimes government in a company. It is also called ordinary shares (Pat &James, 2010).
NEW ISSUE:
Securities of a government or corporate entity newly created by offered for subscription to the public or to the selected group of investors. In the case of private placement or to a company’s existing shareholders are as with right issues. New issues are means of raising funds for development financing and to enlarge the paid-up capital of the company(Pat &James, 2010).ALLOTMENT:
A company whose security is traded on a stock exchange(Mbat2001).
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: THE IMPACT OF CAPITAL MARKET ON ECONOMIC DEVELOPMENT OF AKWA IBOM STATE (A STUDY OF NIGERIAN STOCK EXCHANGE, UYO)
CHAPTER ONE
1.1 INTRODUCTION
The capital market is a highly specialized and organized financial market and indeed essential agent of economic growth because of its ability to facilitate and mobilize saving and investment. To a great extent, the positive relationship between capital accumulation real economic growths has long affirmed in economic theories (Anyanwu, 1993).
Success in capital accumulation and mobilization for development varies among nations, but it is largely dependent on domestic savings and inflows of foreign capital. Therefore, to arrest the menace of the current economic downturn, effort must be geared towards effective resources mobilization. It is in realization of this that consideration is given to measure for the development of capital market as an institution for the mobilization of finance from the surplus sectors to the deficit sectors.
The development of capital market in Nigeria, as in other developing countries has been induced by the government. Though prior to the establishment of stock market in Nigeria, there existed some less formal market arrangements for the operation of capital market. It was not prominent until the visit of Mr. J. B. Lobynesion in 1959, on the invitation of the Federal government, to advice on the role the Central Bank could play in the development of local money and capital market. As a follow-up to this, the government commissioned and a set up the Barback Committee to study and make recommendations on the ways and means of establishing a stock market in Nigeria as a formal capital market. Acting on the recommendation of the committee, the Lagos Stock Exchange (as it was called then) was set-up in March 1960, and in September 1961, it was incorporated under Section 2 cap 37, through the collaborative effort of Central Bank of Nigeria, the Business Community and Industrial Development Bank (Alile&Anao, 1990). With the establishment of the Central Bank of Nigeria in 1959 and the coming into existence of the Lagos Stock Exchange in 1961 and Subsequently, the Nigeria Stock Exchange by an Act in 1979, a sound foundation was laid for the operation of the Nigerian Capital Market for trading in securities of long term nature needed for the financing of the industrial sector and the economy at large. After the incorporation of the Lagos Stock Exchange, it was granted further protection under the law and its activities was placed under some sort of control by the government, hence the passing of the Lagos Stock Exchange Act. However, the Lagos Stock Exchange was only operational in Lagos. By the mid 70’s, the need for an efficient financial system for the whole nation was emphasized, and a review by the government of the operations of the Lagos Stock Exchange market was advocated. The review was carried out to take care of the low capital formation, the huge amount of currency in circulation which was held outside the banking system, the unsatisfactory demarcation between the operation of Commercial Banks and the emerging class of the Merchant Banks, and the extremely shallow depth of the capital.
In response to the problems mentioned above, the government accepted the principle of decentralization but opted for a National Stock Exchange, which will have branches in different parts of the country. On December 2nd 1977, the memorandum and article of association creating the Lagos Stock Exchange was transformed into the Nigerian Stock Exchange, with branches in Lagos, Kaduna, Port-Harcourt, Yola and now in Federal Capital Territory (FCT) Abuja some other cities. The history of Nigeria Capital Market could be traced to 1946 when the British colonial administration floated a N600, 000 local loan stock bearing interest at 3¼% for the financing of developmental projects under the Ten-Years Plan Local Ordinance. The loan stock, which had a maturity of 10-15 years, was oversubscribed by more than N1 million, yet local participation of the issued was terribly poor. Certainly, potential fund abound in Nigeria, but the overriding consideration in this project is to examine the impact of the capital market in harnessing and mobilizing these resources (fund) to generate economic growth in the country and consequently economic development.
1.2 STATEMENT OF THE PROBLEM
There is abundant evidence that most Nigerian businesses lack long-term capital. The business sector has depended mainly on short-term financing such as overdrafts to finance even long-term capital. Based on the maturity matching concept, such financing is risky. All such firms need to raise an appropriate mix of short- and long-term capital (Demirguc-Kunt& Levine 1996).
Most recent literatures on the Nigeria capital market have recognized the tremendous performance the market has recorded in recent times. However, the vital role of the capital market in economic growth and development has not been empirically investigated thereby creating a research gap in this area. This study is undertaken to examine the contribution of the capital market in the Nigerian economic growth and development. Aside the social and institutional factors inhibiting the process of economic development in Nigeria, the bottleneck created by the dearth of finance to the economy constitutes a major setback to its development. As a result, it is necessary to evaluate the Nigerian capital market.
1.3 OBJECTIVES OF THE STUDY
The broad objective of this study examined the activities and performance of Nigerian capital market. The specific objectives of the study are as follows:
To examine the operations of the Nigerian capital market. To evaluate the performance of the capital market in relation to the economic growth in Nigeria. To examine the rate at which new stocks are issued on the capital market. To identify the impediments of capital market in economic development of AkwaIbom State To make recommendations as to how the operations of the market could be improve to boost economic growth and development of Nigeria.
1.4 SIGNIFICANCE OF THE STUDY
The study explored the impact or effectiveness of capital market instruments on Nigerian economic growth. Though the scope of the study was limited to the capital market, it is hoped that the exploration of this market will provide a broad view of the operations of the capital market. It will contribute to existing literature on the subject matter by investigating empirically the role, which the capital market plays in the economic growth and development of the country. The main importance of this study is that it will provide policy recommendations to policy-makers on ways to improve operations and activities of the capital market.
1.5 RESEARCH QUESTIONS This research was guided by the following research questions:
How is the operation of Nigeria capital market? What is the performance of the capital market in relation to economic development of Akwa Ibom state?
iii. What are the activities of the capital market in Uyo branch?
What are the prospects of capital market in economic development of Nigeria? What are the impediments of capital market on economic development of Akwa Ibom State?
1.6 RESEARCH HYPOTHESIS
The following hypothesis was formulated to guide this study:
HYPOTHESIS 1
H0: That the capital market operations have no impact on Nigerian economic development.
H1: That the capital market operations have impact on Nigerian economic development.
HYPOTHESIS 2
H0: There is no significant relationship between performance of the capital market and economic development of AkwaIbom State.
H1: There is a significant relationship between performance of the capital market and economic development of AkwaIbom State.
HYPOTHESIS 3
H0: There are no impediments of capital market on economic development of Akwa Ibom State.
H1: There are impediments of capital market on economic development of Akwa Ibom State.
1.7 SCOPE OF THE STUDY
The study is limited to Nigerian Stock Exchange (NSE), Uyo branch and upon the research topic, which is centered on the impact of capital market on economic development of Akwa Ibom State.
1.8 LIMITATION OF THE STUDY
The limitation to this study on the following ways:
TIME FACTOR: The period within which the study is conducted is for thorough research study, hence gathering adequate information becomes difficult.
FINANCE: This is one of the limitations to the scope of this study. The researcher is facing financial constraint to meet all the educational requirements including this research work. This caused the researcher to restrict her research work to one company for possible completion.
1.9 DEFINITION OF TERMS
FINANCIAL MARKET:
This is a market in which people and entities can trade on financial securities, commodities and other financial facilities. It provides a mechanism for the efficient mobilization of funds from the surplus economic units (Supplier f funds) to the deficit economic units (Mbat2001.)
ISSUE: This is securities of a company or government sold by way of a public offering or private placement at a given point of time(Pat &James, 2010).
BONDS:
Interest bearing securities (i.e. debit securities) issued by corporate entities and government.
MARKET CAPITALIZATION:
This is the market value of a company’s paid-up capital determined by multiplying the current quoted price by the total number of shares outstanding. The market capitalization of a security exchange is the aggregate market capitalization of all its quoted securities(Mbat2001).
EQUITY:
This is ownership capital held by individuals, corporate bodies and sometimes government in a company. It is also called ordinary shares (Pat &James, 2010).
NEW ISSUE:
Securities of a government or corporate entity newly created by offered for subscription to the public or to the selected group of investors. In the case of private placement or to a company’s existing shareholders are as with right issues. New issues are means of raising funds for development financing and to enlarge the paid-up capital of the company(Pat &James, 2010).ALLOTMENT:
A company whose security is traded on a stock exchange(Mbat2001).
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.
OR
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
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420
Visit any of my project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: THE IMPACT OF CAPITAL MARKET ON ECONOMIC DEVELOPMENT OF AKWA IBOM STATE (A STUDY OF NIGERIAN STOCK EXCHANGE, UYO)
