Socirces and application of funds in a government parastatal

Project Abstract

<p> </p><p>Research proposal is a document that tire to show the direction of the thinking of the researcher to do it., how he/she wants to do it, his source of data, the significance of it to the organization or society at large</p><p>It also helps to show the limit to what he/she is doing in term s of creation area techniques to be followed, time frame energy application and material to be employed. From the above description and definitions, research proposal can be referred as a plan that is to be followed in the process of research effort a guiding toward the development of research process and a means of developing a certain the successful completion of the project as well as organ that helps the researcher to maintain a sequential continuity to the various step or section and stage of the work to be done. In treating research proposal, three major sections of the research project are ;-</p><p>A &nbsp; &nbsp; &nbsp; The introductions</p><p>B &nbsp; &nbsp; &nbsp; The review of the literature</p><p>C &nbsp; &nbsp; &nbsp; The research methodology</p><p>But &nbsp;this research work will discuss on the topic that says the source and application of fund in a government parastatal in Nigeria, using the institute of management and technology enugu as a &nbsp;case study from (1995-2005). The research methods that will be adopted are,</p><p>1 &nbsp; &nbsp; &nbsp; &nbsp;Primary and secondary source for gathering a lot of data</p><p>2 &nbsp; &nbsp; &nbsp; &nbsp;Graphs</p><p>3 &nbsp; &nbsp; &nbsp; &nbsp;Normal distribution table and regression will also be applied and &nbsp; analyzed</p><p>The research work will be benefic to the government of Nigeria and &nbsp; &nbsp; &nbsp; &nbsp; the institute of management and technology Enugu in reviewing the &nbsp; &nbsp;source available in I M T and where this fund goes to or managed in</p><p>the institute. The significance of this study is to consider the present &nbsp; &nbsp; &nbsp; poor &nbsp;performance that institute is faced with and they include the constant face off between the management and trade unions respect &nbsp; &nbsp; &nbsp; &nbsp;of regular payment of salaries, lack of promotion to staff that are due to be promoted inability to maintain their fixed assets like building, &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; motor vehicles, furniture and fitting etc inability to settle their other &nbsp; &nbsp; &nbsp; &nbsp; numerous overhead costs and absence of new structure to replace the &nbsp; &nbsp;dilapidated once. All these problems I have mentioned gave raise to &nbsp; &nbsp;find out the cause of this problems and a way to solve them.</p><p>This research topic will also help to ascertain the extent the lack of &nbsp; &nbsp; &nbsp; &nbsp; steady source of funds had made (I.M.T ) scale down its work force, how made difficult it was to (I.M.T ) to put –up new class room &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;blocks in relation to number of students government discontinued &nbsp; &nbsp; &nbsp; &nbsp; funding to (I.M.T ) financial stability to find out why staff are not been promoted as at when due and the extent the institute maintain &nbsp; &nbsp; &nbsp; &nbsp;their fixed assists</p><p>Also in order to achieve this issues, problems, effectiveness of &nbsp; &nbsp; &nbsp; &nbsp;source and application of funds in government parental in our &nbsp; &nbsp; &nbsp; country the significance of the this topic have to be stated and that is &nbsp; &nbsp;to educate b/e fund sourced in the most appropriate manner, to know &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;other ways or avenues of raising funds, to reduced the friction &nbsp; &nbsp; &nbsp; &nbsp;between the management and the trade union in term of regular &nbsp; &nbsp; &nbsp; payment of salaries and promotions</p><p>In conclusion, this research work will </p> <br><p></p>

Project Overview

<p> </p><p><strong>1.0 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; INTRODUCTION</strong></p><p>1.1 &nbsp; &nbsp; <strong>BACKGROUND OF THE STUDY</strong></p><p>Organization both profit and non- profit oriented need funds &nbsp; &nbsp; &nbsp; (financial assets) for their numerous operations. That is why all &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;organizations irrespective of their legal forms, device a means their &nbsp; &nbsp; &nbsp; day- to –day operations. The funds sourced are not normally kept idle by the organization rather they are either being re invested to &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;generate future profit or consumed immediately to achieve the &nbsp; &nbsp; &nbsp; &nbsp; origination day to day goals hence the word “ source and application &nbsp; of funds” in accounting profession</p><p>Source and application of funds simply means the various avenues &nbsp; &nbsp; &nbsp; &nbsp; available to an organization thought which it source it’s financial &nbsp; &nbsp; &nbsp; &nbsp;assets and all the outlet through which the sourced financial assets &nbsp; &nbsp; leaves the coffers of the organization</p><p>In recent past, government pareastalal which institute of &nbsp; &nbsp; &nbsp; management and technology is one, depended revenue grants in &nbsp; &nbsp;forms of subvention for few existence and growth, in this era of &nbsp; &nbsp; privatization, the government has decided to shade off it’s financial &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; responsibilities in almost government paratatal so as to concentrate &nbsp; &nbsp; &nbsp; &nbsp; in it’s constitutional role of providing enabling environment for &nbsp; &nbsp; economic activities to thrive. This scenario has left many &nbsp; government paratatal in total financial drought</p><p>For instance, the immediate lost years in the which institute of &nbsp; &nbsp; &nbsp; management and technology has been a hectic one as financial &nbsp; &nbsp; &nbsp; starvation meted to it by the government has left the which &nbsp;institute with the following identifiably problems;-</p><p>1) &nbsp; &nbsp; &nbsp;Constant face off between management and trade union in respect regular payment of salaries</p><p>11) &nbsp; &nbsp;Lack of promotion to staff that are due to be promoted</p><p>111) &nbsp;inability to maintain their fixed assets such as</p><p>a) &nbsp; &nbsp; &nbsp; Building</p><p>b) &nbsp; &nbsp; &nbsp;Motor vehicle</p><p>c) &nbsp; &nbsp; &nbsp; Furniture and fittings</p><p>1V) &nbsp; &nbsp;inability to settle their other numerous over heard costs</p><p>V) &nbsp; &nbsp; &nbsp;Absence of non structures to replace the dilapidated once etc</p> <br><p></p>