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The Role Of Accounting In The Control Of Public Expenditures In Nigeria
[A STUDY OF CENTRAL BANK OF NIGERIA ENUGU STATE]
CHAPTER ONE -- [Total Page(s) 3]
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The activities of the public enterprises have been on the increase in
recent times which necessitated the introduction of the accounting
practice to check and monitor the financial activities of these
enterprises. In this book, titled principles of accounting, by Bimage
(1985) Accounting is defined as a process by which data relating to the
economic activities of an organization are measured recorded and
communicated to interested parties for analysis and interpretation. The
earliest methods of accounting records were kept in physical quantities.
These records came from the Eastern (early) civilization
which
involved in the countries around the Mediterranean Sea such as
Mesopotamia, Egypt, Crete, Italy etc. Money was recorded as soon as
money took the place of barter as a medium of exchange and unit of
accounting practice has been closely related to the economic development
of the country. If the business organizations grows in size and
complexity management and outsiders groups which include owners of the
firm (stock holder) creditor, government, employer and the general
public.
The differentiation necessitated the need to have accounting
department in the enterprises to give accurate financial of the
management and to satisfy the outside demands or the general public who
are already interest on whether the enterprises in growing or not. The
role of accounting in public enterprises in Nigeria is primarily to
ensure accurate accountability in these sectors and present the time and
fair financial position of the enterprises. The role is of utmost
importance in any organization. An organization can only grow or profit
when the resources can only be well managed if accounting department of
the organization give accurate financial information to know how much
the enterprises having. It only when this is done that the firm allocate
its resources and knows what is to be done. The role of accounting
seems to be more pounced in the public enterprises. In
recent times,
there are cases of mis appropriation of funds in the public enterprises
and improper accountability. These factors have led to a lot of public
enterprises go into Obiwon, if the government has reorganization the
role of accounting, all these feeble should not have risen. No
enterprises can more forward without having a well organized financial
department to give accurate financial, information about the firm. This
is because if improper accounting records are not minimized or where
possible eradicated these is bound to be cases of public enterprises
failure. Consequently, staff of such enterprises will force out of their
job. This will result to economic and social activities in the society.
1.2 STATEMENT OF PROBLEM
Obviously,
every privates and public entries in Nigeria has their accounting
department and there are increase cases of financial mismanagement in
virtually all the public and private organization in Nigeria. The
problem of this study lies on how the manages of these enterprises are
able to recognizes the role of accounting in their enterprises so that
these cases of improper accountability will be minimized or if possible
its total eradication in our society.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThis research examines the role of accounting in the control of public expenditures in Nigeria, a case study of control bank of Nigeria, Enugu State. The researcher adopted descriptive survey design. The population of the study is the combination of internal audit department staff and accounting department staff making it a total of 41. The research used both primary and secondary source of data. In view of this, three research questions were formulated to generate expected answers. Lite ... Continue reading---
