EFFECTIVE – INTER –BRANCH ACCOUNTING SYSTEM.
(CASE STUDY OF CENTRAL BANK OF NIGERIA
EFFECTIVE INTER- BRANCH ACCOUNTING SYSTEM (A CASE STUDY OF CENTRAL BANK OF NIG)
The focus of this study is to asses the effectiveness of bank inter –branch accounting system using central bank as case study.
Assessment of the effectiveness of inter branch accounting system in Nigeria cannot be over emphasized, bank in Nigeria are faced with problem of the branch accounting Aranster.
Inter-branch accounting system arises as transaction are attached between branch of the same and its branches, with the problems encounted by bank in their inter-p branch dealings there anises a greater need for an efficient management of the possible operating conditions.
In the Coors this work questionnaires and interview methods of investigation were used to collect data from the respondents. Data collected by the above means were Presented and in chapter four and also sued to test the hypothesis that is for umlauted in chapter one the result of the test shows the bank under study uses inter-branch accounting system bin their dealings.
In the light of some weaknesses identified in the course of data analysis some re commendations were made, and it is behaved that if the recommendation are implemented, the efficiency of inter-branch accounting system in banks will be improved.
INTRODUCTION VIII
LITERATURE REVIEW 10
REFERENCES 30
RESEARCH METHODOLOGY 31
FINDINGS RECOMMENDATION AND CONCLUSION
BIBLIOGRAPHY 59
APPENDIX 61
RESEARCH QUESTIONNAIRES 70
Effective inter-branch accountings system (case study of centra bank or Nigeria). The focus this study is to asses the effectiveness of inter-branch accounting system using centra banks as a case study. Assessment of the effectiveness of inter-branch accounting transfer.
Inter-branch accounting system Aries as transactions are affected between the branches office same institution or between the head office its branches with the problems encounted by banks in their inter-branch dealings there arise a greater need for an efficient management of the possible operation condition
CHAPTER ONE
Inter-bank accounting arise as transaction are affected between branch of the same its institution or between the head office and its branches.
These transaction could either result from demand for by one branch or quoted, pending regular supply of cash from head office of expenses incurrent on behalf of a staff of a particular branch by another branch such transaction as above will warrant the raising of messages of value for or against any of the branches as the case may be. Such message as forwarded with utmost dispatch to head office which will upon the receipt of authorized message of value debt the receiving branch credit the giving branch accounting.
Debt of credit actions are affected either in the branch accounts, current “personal of impersonal depending on the nature of transactions
In considering of the volume of transactions that take place daily between carious branches of these banks been a functional inter-branch accounting system.
However, this system has seemingly been rendered ineffective high volume of transaction and bureaucratic procedures which result into back log of untreated items.
There is an urgent need for a modified effective treatment of inter-branch transaction which would greatly reduce the time –lag between then transactions is initiated in one branch and when that transaction is responded to at the other branch.
The two branches concerned in the transaction would be expected to more involved for the finely and conclusion treatment of the transaction within 12 working days.
This is aimed at enhancing the banks in relation to system of the section and head office/branch transactions.
Effective treatment of inter-branch transactions will equally prepare as much as possible a focus for both of the internal and external auditors of the bank to audit the account of the banks in line with the companies and Allied matter act (AMA). The purpose of this study is therefore to:
The present method of inter-branch transaction of volume within the bank as first introduced in central bank of Nigeria in 1980 when the turn accounts current “personal and impersonal” were created to replace the simple current account maintained for inter-branch transactions.
By customer patronage was relatively come terms of number, value and act unities.
However, there has been astronomical increase in these indices over the years, for instance while the branch network these banks doubted between 1980 and 1988, the value of understanding items, built up partly because the branch never relate to one another directly in any may but have to effect their transfer tom and from one another the head office in the process, it could be delayed, misplace sometimes become textile ground fraudsters and with gave consequences for the in general.
Ho: The administrations are procedures currently in place in banks are absolute.
Hi: The administration procedures currently in place in bank are not absolute.
Finding from a study of nature are expected to contribute immensely touch aids improving also help in enhancing the speedy dispensation of inter-bank accounting system Nigeria. The result will specifically reveal the problem areas and the may out of the problem.
In effect, bankers researcher, scholars a study of this nature.
1.6 SCOPE AND LIMITATION OF THE STUDY
For the purpose of this study, the banks inter-branch accounting system as contained in the “Operations manual” of the bank operations department of the central bank of Nigeria, first bank of Nigeria, first bank of Nigeria and united bank of Africa, will be discussed.
Similar reference will be draw from the outcome of the various workshops recently organized by the banks on the subject matter.
Further reference will also be made on the repeat various committee set up on the same subject matter.
Discussion will therefore center on the accounting records, procedures, computer appellations of various operational guidelines.
However, it is pertinent to mention that because of the schedule nature of the banks operation documents that could have aided this study.
Download our android mobile app for more materials
ORDER NOW
COMPLETE MATERIAL COST N2,500 Or $10. FRESH PROJECT MATERIAL COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.
THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 24 HOURS
CALL OUR CUSTOMERS CARE OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
(CASE STUDY OF CENTRAL BANK OF NIGERIA
ABSTRACT
EFFECTIVE INTER- BRANCH ACCOUNTING SYSTEM (A CASE STUDY OF CENTRAL BANK OF NIG)
The focus of this study is to asses the effectiveness of bank inter –branch accounting system using central bank as case study.
Assessment of the effectiveness of inter branch accounting system in Nigeria cannot be over emphasized, bank in Nigeria are faced with problem of the branch accounting Aranster.
Inter-branch accounting system arises as transaction are attached between branch of the same and its branches, with the problems encounted by bank in their inter-p branch dealings there anises a greater need for an efficient management of the possible operating conditions.
In the Coors this work questionnaires and interview methods of investigation were used to collect data from the respondents. Data collected by the above means were Presented and in chapter four and also sued to test the hypothesis that is for umlauted in chapter one the result of the test shows the bank under study uses inter-branch accounting system bin their dealings.
In the light of some weaknesses identified in the course of data analysis some re commendations were made, and it is behaved that if the recommendation are implemented, the efficiency of inter-branch accounting system in banks will be improved.
CHAPTER ONE
INTRODUCTION VIII
- INTRODUCTION 1
- PURPOSE OF THE STUDY 2
- STATEMENT OF STUDY 3
- RESEARCH HYPOTHESIS 4
- SIGNIFICANCE OF THE STUDY 5
- SCOPE AND LIMITATIONS OF THE STUDY 5
CHAPTER TWO
LITERATURE REVIEW 10
- INTRODUCTION 10
- WHAT IS MEANT BY INTER-BRANCH ACCOUNTING SYSTEM 11
- THE ESSENCE OF CONTROL 18
- MESSAGE OF VALUE 20
- CODE BOOK AND TELE TEXT NUMBER 22
- RECONCILIATION OF BRANCH ACCOUNT CURRENT 23
- TRANSFER FROM BRANCH TO BRANCH 24
REFERENCES 30
CHAPTER THREE
RESEARCH METHODOLOGY 31
- STUDY AREA 31
- SOURCES OF DATA 31
- PRIMARY DATA 32
- SECONDARY DATA 32
- SAMPLE USED 33
- METHOD OF INVESTIGATION 34
- STATISTICAL METHOD USED FOR DATA ANALYSIS (CHI –SQUARE STATISTICS) 35
CHAPTER FOUR
- PRESENTATION, AND INTERPRETATION OF DATA 36
- TEST OF HYPOTHESIS 49
CHAPTER FIVE
FINDINGS RECOMMENDATION AND CONCLUSION
- FINDING 54
- CONCLUSION 56
- RECOMMENDATION 57
BIBLIOGRAPHY 59
APPENDIX 61
RESEARCH QUESTIONNAIRES 70
PROPOSAL
Effective inter-branch accountings system (case study of centra bank or Nigeria). The focus this study is to asses the effectiveness of inter-branch accounting system using centra banks as a case study. Assessment of the effectiveness of inter-branch accounting transfer.
Inter-branch accounting system Aries as transactions are affected between the branches office same institution or between the head office its branches with the problems encounted by banks in their inter-branch dealings there arise a greater need for an efficient management of the possible operation condition
CHAPTER ONE
- INTRODUCTION
Inter-bank accounting arise as transaction are affected between branch of the same its institution or between the head office and its branches.
These transaction could either result from demand for by one branch or quoted, pending regular supply of cash from head office of expenses incurrent on behalf of a staff of a particular branch by another branch such transaction as above will warrant the raising of messages of value for or against any of the branches as the case may be. Such message as forwarded with utmost dispatch to head office which will upon the receipt of authorized message of value debt the receiving branch credit the giving branch accounting.
Debt of credit actions are affected either in the branch accounts, current “personal of impersonal depending on the nature of transactions
In considering of the volume of transactions that take place daily between carious branches of these banks been a functional inter-branch accounting system.
However, this system has seemingly been rendered ineffective high volume of transaction and bureaucratic procedures which result into back log of untreated items.
- PURPOSE OF STUDY
There is an urgent need for a modified effective treatment of inter-branch transaction which would greatly reduce the time –lag between then transactions is initiated in one branch and when that transaction is responded to at the other branch.
The two branches concerned in the transaction would be expected to more involved for the finely and conclusion treatment of the transaction within 12 working days.
This is aimed at enhancing the banks in relation to system of the section and head office/branch transactions.
Effective treatment of inter-branch transactions will equally prepare as much as possible a focus for both of the internal and external auditors of the bank to audit the account of the banks in line with the companies and Allied matter act (AMA). The purpose of this study is therefore to:
- Identify the cause of the various bottle necks inter branch transfer.
- Determine the scope and effectives of such bottle neck.
- Suggest ways of camphorating the situation till in the proposed modified effective inter branch accounting system.
- High light possible advantages and make conclusion and recommendations
- STATEMENT OF THE STUDY
The present method of inter-branch transaction of volume within the bank as first introduced in central bank of Nigeria in 1980 when the turn accounts current “personal and impersonal” were created to replace the simple current account maintained for inter-branch transactions.
By customer patronage was relatively come terms of number, value and act unities.
However, there has been astronomical increase in these indices over the years, for instance while the branch network these banks doubted between 1980 and 1988, the value of understanding items, built up partly because the branch never relate to one another directly in any may but have to effect their transfer tom and from one another the head office in the process, it could be delayed, misplace sometimes become textile ground fraudsters and with gave consequences for the in general.
- RESEARCH HYPOTHESIS
Ho: The administrations are procedures currently in place in banks are absolute.
Hi: The administration procedures currently in place in bank are not absolute.
- SIGNIFICANCE OF THE STUDY
Finding from a study of nature are expected to contribute immensely touch aids improving also help in enhancing the speedy dispensation of inter-bank accounting system Nigeria. The result will specifically reveal the problem areas and the may out of the problem.
In effect, bankers researcher, scholars a study of this nature.
1.6 SCOPE AND LIMITATION OF THE STUDY
For the purpose of this study, the banks inter-branch accounting system as contained in the “Operations manual” of the bank operations department of the central bank of Nigeria, first bank of Nigeria, first bank of Nigeria and united bank of Africa, will be discussed.
Similar reference will be draw from the outcome of the various workshops recently organized by the banks on the subject matter.
Further reference will also be made on the repeat various committee set up on the same subject matter.
Discussion will therefore center on the accounting records, procedures, computer appellations of various operational guidelines.
However, it is pertinent to mention that because of the schedule nature of the banks operation documents that could have aided this study.
- THE FOLLOWING TERMS ARE DEFINED AS USED IS THE STUDY.
- MESSAGE OF VALUE: This is an authenticated telex message that conveys transaction value (in word and figures), transaction dates, transactions purpose (expenditure or transfer of funds transaction mode) credit or debit and both the sending and receiving branches. Message of value usually sent by the tele printer or by courier air bags in some banks.
- TELEX CODE: This is coded numbering system that is assigned on different telex message to confirm the geniuses of such message telex message of value are usually decoded and equally subjected to other security texts before actions are commenced on the m.
- SIGNATURE BOOKLET: It is a hand booklet maintained in respect of authorizing officers in both the branches head offices who authorized both telex message and entries into the accounts.
- ENTRIES: This is the practical application if accounting principles of debit and credit in the various books of accounts maintained in the branches head offices,
- STATEMENT OF ACCOUNT CURRENT (SAC): This is a statement of account prepared on daily basis in very branch and which carries a summary of all the days transaction with its details and balance. It is control measure, which is usually sent by branch controller to the head office as an advance copy of the days brought form.
- ACCOUNTS CURRENT “PERSONAL/IMPERSONAL”: These are designated account in to which entries relating to specific transaction are made. For instance, where as the accounts current personal takes charge of other commercial banks and merchant banks credit/debit balances to their head office the account current impersonal is maintained for all other transactions including inter-branch transfer of funds or expenditure, inter-branch settlement of medical bills, inter-branch transfer 4 of proceeds of cheques.
- ITEMS: Items relate to all transactions that require raising of telex message and eventual entries. Such items include transfer payments shortages etc.
- TRANSFER OF FUNDS: This is in relation to with the banks. Transfer of funds can be divided into the following categories:-
- transfer from branches to branches.
- Transfer from branches to head office
- Transfer from branches to branches
- RECONCILIATION: This is a periodic exercise carried out by the head office on the branches on one hand and by the branches on the other head office on the hand. It is usually targeted at eliminating most out and standing item in the various account and ascertaining the problem surrounding the long outstanding item.
- A VOTE A: Vote is a particular head or subhead of expenditure or other authorized account for which provision has been made for the disbursement of funds.
Download our android mobile app for more materials
ORDER NOW
COMPLETE MATERIAL COST N2,500 Or $10. FRESH PROJECT MATERIAL COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.
THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE
MAKE YOUR PAYMENT INTO ANY OF THE FOLLOWING BANKS:
GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 24 HOURS
CALL OUR CUSTOMERS CARE OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
Comments
Post a Comment