Accounting In The Nigeria Public Sector, Problems And Prospects (a Case Study Of Selected Government Establishment In Okpe Local Government Area Of Delta State)

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ACCOUNTING IN THE NIGERIA PUBLIC SECTOR, PROBLEMS AND PROSPECTS

(A CASE STUDY OF SELECTED GOVERNMENT ESTABLISHMENT IN OKPE LOCAL GOVERNMENT AREA OF DELTA STATE)

ABSTRACT

In order to successfully accomplish the purpose for this research study, on the role of the Nigeria accountant question were formulated and a questionnaire comprising statement drawn from the research questions were prepared as well from the following problems are be setting public sector. Appointment of unqualified accountants to act as account supervisor, negative attitude of most accountants to wards account ability resulting to inadequate keeping of financial and accounting records are stipulated by the financial regulations and treasuring circulars.

          Accounting in the Nigeria public sector, problem and prospects is the project topic and a case study of selected government establishment in Okpe local government Area of Delta state, the research involve five (5) chapters.

          In chapter, it entails the introduction/ background of study, statement of problem, purpose of the study, significance of study, scope and limitation of the study and research question.

          Chapter two involved the literature review, who is an accountant, accountant is defined, book-keeping and account differentiated, government accounting defined, objectives of accounting in the public sector, legal basis, the nature of Nigeria public sector accounting government and some identified problems of the Nigeria public sector accounting.

Chapter four, involved data analysis, data presentation of demographic characteristics, assessment of accounting system of the public sector, testing of research questions and major findings.

Chapter five, involved the summary, recommendation and conclusion more so suggestion for the area of further research.

The research various recommendation as remedies if fully implemented, will enhance government accounting system and records and ensure prudence in the conduct of government financial transaction.                  

 

 

 

 

 

 

PROJECT PROPOSAL

          The proposal of this particular topic accounting in the Nigerian public sector problems and prospects. A case study of selected government establishment in Okpe Local government area of Delta state.

          This is based on the problems facing the Nigerian public sector accounting particularly in Okpe local government area of Delta state.

          These revelations which related to direct embezzlement, receipts of huge kick backs, contract inflations, large scale salary and fraud.

          These were not detected by the normal operations of financial control including audit, security personnel aid by judicial and administrative set up by military government.

          Moreover, the gross mismanagement of the economy by the politicians in second  republic also resulted in loss of credibility in the eyes of the international financial community

          Therefore, this research will help to find out the problems facing the Nigerian public sector accounting in Okpe local government in particular, Delta and in Nigerian in geranial.

          This research work will also go a long way to analyses the objectives of accounting in the public sector in Okpe local government of Delta state.

          To this effect therefore, the researcher wishes to visit the government establishment to find out the problem facing the accounting in the public sector.

          At this point, the researcher plan to carry out his researcher work with the aids of questionnaires, personnel interview and participant observations.

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

Title page                                                                                          ii

Approve page                                                                                   iii

Dedication                                                                                         iv

Acknowledgement                                                                                      v

Abstract                                                                                            vii

Proposal page                                                                                   ix

Table of content                                                                                xi

CHAPTER ONE

1.1            Introduction/Background of Study                                          1

1.2            Statementof Problem                                                              3

1.3            Purposeof Study                                                                    5

1.4            Significance of Study                                                               6

1.5            Scope and Limitation of Study                                                         7

1.6            Research Question                                                                            8

CHAPTER TWO

2.0            LiteratureReview                                                                              9

2.1     Who is an Accountant?                                                           9

2.2     Accounting Defined                                                                 9

2.3     Books-Keeping and Account Differentiated                                      12

2.4     Government Accounting Defined                                            13

2.5     Objective of Accounting in the Public Sector                                    14

2.6     Legal Basis                                                                                        17

2.7     The Nature of Nigerian Public Sector Accounting                            19

2.8     The Scope of Public Sector Accounting                                  22

2.9     Government and Commercial Accounting Compared             26

2.10   Some Identified Problem of the Nigeria

Public Sector Accounting                                                        29

CHAPTER THREE

3.0     Research Methodology                                                            35

3.1     Study/ Research Design                                                           35

3.2     Population of Study                                                                35

3.3     Sample Size                                                                                      36

3.4     Method of Date Collection                                                      36

CHAPTER FOUR   

4.1            Data analysis                                                                           40

4.2            Data presentation                                                                    41

4.3            Interpretation of Demographic         characteristics                          42

4.4            Assessment of the Accounting System of the Public Sector    43

4.5            Testing of Research Question                                                  44

4.6            MajorFindings                                                                        61

CHAPTER FIVE

5.0            Summary, Recommendation and Conclusion                                   63

5.1     Summary                                                                                 63

5.2     Conclusion                                                                              65

5.3     Recommendation                                                                     66

5.4            Suggestion for Area of Further Research                                67

Bibliography                                                                           68

Appendix                                                                                70

 

CHAPTER ONE

1.1     INTRODUCTION/BACKGROUND

Accounting has often been described as the language of business and accounting profession as the back bone of organization. This is because accounting besides duties plays the role of custodian of the finances of such organization and also serves as the vehicle for employing these funds in such ventures as to promote survival and growth. But accounting is a dynamic profession. Like language it is not static it grows, embracing additional roles in its development trail. The accounting profession, as it affects the public sector of the economy, provides figures and information on the past performance of  this sector for planning for the future. Government budgets depends on information supplied through accounting

          It is a thing of joy that an accounting body in Nigerian, the institute of chartered accountant s of Nigerian (ICAN), and the association of National, Accountants of Nigerian (ANAN), has lately accredited two institutions as recognized training centre for the purpose of training accountants solely for the public sector. Today a new scheme, the accounting technicians scheme (ATS).

The Nigerian college of accounting, Joy has been designed to train and develop the manpower required for the public sector. However, laudable as this innovation is the content of the is the ATS is grossly

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