An evaluation of the accounting system in nigeria oil industry

Project Abstract

<p> </p><div><p><em>This research work is on the accounting system </em><em>standards involved, accounts kept and the effectiveness of the </em><em>internal control system in operation in Nigeria oil companies </em><em>using the Nigeria National petroleum corporation (N.N.P.C) as a </em><em>case study. </em><em>In conducting the study, the researcher has employed </em><em>personal interview and observation as basic techniques of </em><em>investigation. The findings reveals that the NNPC’s accounting system </em><em>produce enough information through internal financial </em><em>documents needed in the ordinal y course of operation but major </em><em>accounts for publication purposes are not produce. It is system </em><em>of internal control met common standards and effectively served </em><em>its needs. </em><em>In preparing its account, the NNPC however need to work at </em><em>eliminating the problems largely arising from the intricacies sand </em><em>complexities of operations in </em><em>the</em><em>&nbsp;oil industry. This can only be achieved with less government interference, institutions of </em><em>additional disclosure requirement particularly in recognition of </em><em>leadership and monitoring role of the NNPC in the industry.</em><em>&nbsp;The researcher also found out that these are crying need for adherence to standard that can create uniformity of the accounting system in the oil industry.</em></p></div><h3></h3><br> <br><p></p>

Project Overview