Thesis Abstract

<p> This research examines the role of accounting in the control of public<br>expenditures in Nigeria, a case study of control bank of Nigeria, Enugu<br>State. The researcher adopted descriptive survey design. The<br>population of the study is the combination of internal audit department<br>staff and accounting department staff making it a total of 41. The<br>research used both primary and secondary source of data. In view of<br>this, three research questions were formulated to generate expected<br>answers. Literal works were reviewed for proper understanding and<br>guidance. Questionnaires, personal interview and observation were<br>used for collect of primary data. Secondary source of data were collect<br>from text books, periodical, articles and journals. Tables and simple<br>percentage were used for data analysis, hypothesis were tested using<br>chi-square statistics. Based on the findings, the researcher found out<br>that few of the staff were not following due accounting principles<br>thereby causing inadequate and improper pursuit of the accounting<br>records Omission of certain book-keeping records, improper audit. The<br>staff and management of central bank of Nigeria has now adopted<br>accounting standard, and the balance of power on NASC, financial<br>analyst government agencies and others. Finally the researcher<br>proffered among other use of accounting principle and standard in the<br>company. <br></p>

Thesis Overview

<p> INTRODUCTION<br>1.1 BACKGROUND OF THE STUDY<br>In most developing countries including Nigerian government<br>participation in economic activity is usually significant. One of the ways<br>through which government has intervened in Nigerian economy is<br>through the establishment of public enterprises and statutory bodies<br>operating service of an economic or social character on behalf of the<br>government.<br>Since the colonial era, especially after independence 1960,<br>Nigerian public enterprises have witnessed a steady growth unit<br>recently. Its Olisa (1988-133) pet it. Beginning as a trickle in the period<br>between this era of the second world war and Nigeria risen to flood<br>level since independence the establishment of public enterprise in<br>Nigeria are many add to available rational capital for the support of<br>development and welfare programme, making to be controlled by a<br>few individual, it possible for important profitable enterprise to be<br>controlled by a few individual or group organization certain critical<br>activities national survival and economic stability and providing<br>employment opportunities (Ademolukun 1983). However, after a long<br>period of growing starts intervention in the Nigeria economy through<br>public enterprises, the 1980’s onwards had witnessed a reversed which<br>has sometimes been dramatic in public opinion therefore public policy.<br>This has been brought by the persistent losses which state<br>enterprises that trivet been running over fears. Consequently, there<br>has been a willingness to look at alternative policy strategies for the<br>achievement of economic development. At the forefront of these<br>strategies is the minimization privatization of public enterprises.<br>In Nigeria, public enterprises are engaged in a while spectrum of<br>economic activities including agriculture, mining, construction,<br>manufacturing, commerce and services. The classification of public<br>enterprises in Nigeria has been made according to varieties of criteria<br>by different authorities. The public service review commission<br>(1975:101) classified public sector int.<br>Public utilities<br>Regulatory of service body<br>Financial institutions<br>Commercial and industrial enterprises<br>Being a mixed economy, individuals also own and operate private<br>enterprises. A firm classified as private enterprises when it is founded<br>and managed by an individual and or a group of individual. These firms<br>are expected to be registered in the local government within which<br>they operate.<br>The rational for the establishment of private enterprises are<br>numerous just like establishment of public enterprises. They<br>include amongst others; provision of employment opportunities<br>generating income for the owner of the enterprises government<br>interest in profit growth of the enterprises which performance of<br>the public sector through competition. Moreover, the general<br>public is concerned with contribution which makes towards social<br>enlistment which is exhibit to the environment in which the<br>business is loaded and its willingness to contribute to the<br>development of the environment.<br>The activities of the public enterprises have been on the increase<br>in recent times which necessitated the introduction of the accounting<br>practice to check and monitor the financial activities of these<br>enterprises. In this book, titled principles of accounting, by Bimage<br>(1985) Accounting is defined as a process by which data relating to the<br>economic activities of an organization are measured recorded and<br>communicated to interested parties for analysis and interpretation. The<br>earliest methods of accounting records were kept in physical<br>quantities. These records came from the Eastern (early) civilization<br>which involved in the countries around the Mediterranean Sea such as<br>Mesopotamia, Egypt, Crete, Italy etc. Money was recorded as soon as<br>money took the place of barter as a medium of exchange and unit of<br>accounting practice has been closely related to the economic<br>development of the country. If the business organizations grows in size<br>and complexity management and outsiders groups which include<br>owners of the firm (stock holder) creditor, government, employer and<br>the general public.<br>The differentiation necessitated the need to have accounting<br>department in the enterprises to give accurate financial of the<br>management and to satisfy the outside demands or the general public<br>who are already interest on whether the enterprises in growing or not.<br>The role of accounting in public enterprises in Nigeria is primarily to<br>ensure accurate accountability in these sectors and present the time<br>and fair financial position of the enterprises. The role is of utmost<br>importance in any organization. An organization can only grow or profit<br>when the resources can only be well managed if accounting<br>department of the organization give accurate financial information to<br>know how much the enterprises having. It only when this is done that<br>the firm allocate its resources and knows what is to be done. The role<br>of accounting seems to be more pounced in the public enterprises. In<br>recent times, there are cases of mis appropriation of funds in the<br>public enterprises and improper accountability. These factors have led<br>to a lot of public enterprises go into Obiwon, if the government has<br>reorganization the role of accounting, all these feeble should not have<br>risen. No enterprises can more forward without having a well organized<br>financial department to give accurate financial, information about the<br>firm. This is because if improper accounting records are not minimized<br>or where possible eradicated these is bound to be cases of public<br>enterprises failure. Consequently, staff of such enterprises will force<br>out of their job. This will result to economic and social activities in the<br>society.<br>1.2 STATEMENT OF PROBLEM<br>Obviously, every privates and public entries in Nigeria has their<br>accounting department and there are increase cases of financial<br>mismanagement in virtually all the public and private organization in<br>Nigeria. The problem of this study lies on how the manages of these<br>enterprises are able to recognizes the role of accounting in their<br>enterprises so that these cases of improper accountability will be<br>minimized or if possible its total eradication in our society. <br></p>