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Effects Of Structural Adjustment Programme On Accounting Principles
[A CASE STUDY OF CENTRAL BANK F.C.T ABUJA]
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However, there are three hypotheses in this
research work.
HO: There is no significant effect of the Structural Adjustment Programme in the commercial sector on accounting performance.
H1: There is a significant effect of the Structural Adjustment Programme in the commercial sector on accounting performance.
(1) HO: There is no alignment between structurally Adjustment Programme and Second tier Foreign Exchange Market.
H1: There is an alignment between structurally Adjustment Programme and Second tier Foreign Exchange Market.
(2) HO: The Structural Adjustment Programme decrease the challenges and calls for professionalism in management
H1: The Structural Adjustment Programme increases the challenges and calls for professionalism in management.
1.6 SIGNIFICANCE OF THE STUDY
Structural
adjustment Programmes (SAPs) in this study are meant primarily for
accountants and the economic policies for developing countries that have
promoted by the World Bank and IMF since the early 1980s by the
provision of loans conditional on the adoption of such policies. The
research study is also significant to the government by removing
“excess†government control and promoting market competition as part of
the neo-liberal agenda followed by the Bank and, the Enhance Structural
Adjustment facility which is an IMF financing mechanism that aid the
support of the macroeconomic policies and SAPs in low-income countries
through loans or low interest subsidies.
SAP policies reflect the
neo-liberal ideology that drives globalisation. The aim to achieve long
term accelerated economic growth in poorer countries by restructuring
the economy and reducing government intervention. This is done by
privatising state owned industries, including health sector and opening
up their economies to foreign competition.
1.7 SCOPE OF THE STUDY
This
study revolves around the effect of Structural Adjustment Programme on
accounting principles, with the Central Bank of Nigeria Abuja, as the
case study. It focuses on the need of the economy to adopt these certain
adjustment programmes to restructure and make policies and schemes that
will improve the economy. The appraisal of the Structural Adjustment
scheme is principally hinged on the problems and challenges ,
facilities, legal framework, personnel, the scheme compliance and
corruption.
1.8 LIMITATION OF THE STUDY
The limitation involved in
the course of this research included hostility and non-co-operation on
the part of some of the respondents. The level of ignorance on economic
reformation and illiteracy was very high. Some SAPs officials refused
answering the question they felt would indict them. Also the financial
implication was very high and imposed certain restrictions.
The
constraint of time was also a limiting factor as all the areas of
interest were not covered as they would have been adequate.
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