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The Role of Good Accounting System in the Management of Deviate Enterprises in Nigeria
Project / Seminar MaterialReference ID: PS-19-TM
This research work titled "The Role of Good Accounting System in the Management of Deviate Enterprises in Nigeria (A Case Study of Nwaoku Pam Paper Mill Ihitte Uboma Local Government)" is dedicated to God for his enabling grace and to all computer enthusiasts who help to make life a pleasant experience.
I owe my indebtedness to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Accountancy / Accounting, Book Authors and Profound Scholars of existing/related research work for your moral support that facilitated the successful completion of my (Tertiary Institution level). I am grateful to God Almighty and my parent for their financial support in my career. I really appreciate you all for everything, Thank you very much.
RESULTS AND DISCUSSION
SUMMARY, CONCLUSION AND RECOMMENDATION
This research work is designed to show that the companion in the management of any business is a good accounting system that works effectively and efficiency and a special emphasis is laid on Nwaoku pam Paper Mills ltd, a medium scale manufacturing private company. Regrettably, good accounting system is lacking in most privately owned business enterprises in Nigeria, Only a few among the whole of them are having good accounting system. Hence, this project strives to explore some of the reasons for the lack good accounting system in most prociate enterprise in Nigeria. The discussion in this project as down in three chapters which chapter one covers the introduction the scope, nature, purpose and objectives off the study including in the chapter are some definition of terms and imitation of the study while chapter two covers the literature review which revenged the main intact of the subject matter such as the overview off the meaning of good accounting system including its nature and other components, then chapter three covers research methodology and design which reviews introduction theoretical frameworks, Rationale for choice variable, the methodology and data selection and analysis. Chapter Four covers presentation and analysis of data which reviews introduction, Data presentation, classification and calculation analysis of data accounting to research question and interpretation of result while the last chapter covers (chapter five emphasis on the summary, conclusion and recommendations. The recommendations made after the work are product of the desire of the researcher to cheek the high rate of the liquidating business enterprises.
Private enterprises are necessary in the economic development of any country it development or developing country. In developing country like Nigeria the roles attached are much. They put development and other socio-economic activities on the wheel. They provide other services that are peculiar to its development especially now that the establishment of industries and other socio-economic infrastructure are over politicized.
Challenged by government social and development neglect of Uboma, but surrred up by economic desires Nwoku Pam paper Mill Limited, like many other privately owned enterprise was established for the following purposes.
The need for quick economic through industrialization to remove or reduce economic stagnation and raise the living standards of the Nigeria population.
Disappointedly, most of those privately owned enterprise disappeared shortly from the book of life after they are established without achieving their set goals.
Today, the incessant occurrence of these industries delegates have become an issue of worries to people, ridicule to government, researchers/ academicians and industrialist as well. The problems become most regrettable when reflect on how hard and time it takes accumulate.
The money for such investment through short period of time it takes such investment to collapse. To most cases, such industrial failures are attributes to bad accounting system and many or non-application of accounting concept and convention. Today this has become industrial cankerworm eating deep into business in Nigeria.
That they help poor returns on investments and consequently, constant factory shut-down which is a functions of poor management and bad accounting system. It is common accounting practices, concepts and conventions. Mostly private owned enterprise are characteristics with the following:
Emphasis therefore directed in search of what is adequate control, check and balances as a tool for advertising industrial and business failures. The study therefore seeks to provide a sound accounting system hat will afford management of resources and decision making that will aid the growth of the enterprises.
The objectives of the study is to enable the researcher to have an insight into the role of good accounting system in the management of a private enterprises by:
The establishment of the enterprises call for expanded technical and management services of which accounting is a vital one.
Consequently, there have been several literature on private enterprises. Many have effectively appraised the management and control problems of related enterprises while others dealt with the technical aspect of it.
Despite these appreciated efforts, the researcher feels that much has not been written on the accounting aspect and its effectiveness in provide enterprises. Where there is such an attempt, it has been a theoretical overview only. To help bridge the gap this study has to be carried out, as it is believed that it would such as:
Keeping accurate and completely comprehensive record of all transactions that will lead to the development/management of private enterprises.
The failure to keep accurate an completely comprehensive records of all transaction will lead to financial disaster for private business.
In view of the time and characteristics difficulty of obtaining data in private enterprises, a case study approach of enterprise Nwoku Pam Paper Mill Limited is made. The study would examine the accounting and financial problem of the enterprise and hence determine the necessary control measures for revenue and income reporting budgeting, systems of control and financial practices of the enterprise most of the comments, especially on the essence apply equally to non-profit and public organization.
In pursuance of the purpose of this study, some research questions became pertinent. These questions invariably will help to sharpen the researchers focus. These include:
Willingness is a good accounting system in the management of private enterprise to disclose some vital information especially when it pertains to financial performance despite assurance of confidentiality by the researcher has reduced the depth of this study.
Time research efforts, un-coopeniting nature of the nature of the management secrecy and financial constrains made an elaborate study to care for the whole country difficulty.
For the case of understanding, some terms and concepts used should be defined, as this is not assumed by expects in the field alone, such terms and concepts include:
Accounting System: It is special concern with the design and implementation of procedures for the accumulation and reporting off financial data. This is a check and balare devised to safeguard business assets and provides for information flow that will be efficient and hopeful to the business owners.
Budget: Is a formal written statement of managements plans for the future, expressed in financial terms. A budget that is the course of further action it should contain an attainable objectives.
Capital Employed: This is the shareholders fund, loan, capital and any other long-term sources of funds.
Financial Leverage: This is the use of charge sources of funds such as debt and preference share capital along with the owners equity in the capital structures.
Net Working Capital: This is the owners equity in the business. It is the residual claim against the assets of the business after total liabilities are deducted.
Private Enterprises: This is a business organization that is wholly owned by individual person, immediately member of the family, who effectively controls them neither the government nor the public has had in the ownership and management in spite of the size.
This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …