THE EFFECTIVENESS OF ACCOUNTING SYSTEM IN NIGERIA
(A CASE STUDY OF PETERSON ZOCHONIS PLC ABA)
Improving the effectiveness of accounting system in production industries in Nigeria. (A case study of PZ industries plc Aba).
Most of the production industries have actually collapse because of inadequate and ineffective accounting system in the accounting department of production industries, the growth of any country industries depends on the level of their accountability to a large extent to the success of the industries.
Therefore this project is aimed at indentifying and describing the need for an effective accounting system in the accounting departments of production industries. As a background of the project the effectiveness of accounting system in production industries with a particular reference to Peterson zochonis Aba reviewed the project will illustrate the strength and weakness of accounting system.
This study is also undertaken to evaluate the accounting policies of the industry with the view of improving their accounting system and control. The research will be interviewed for more information, also through the use of questionnaire which will be prepared and sent to respondents in the selected offices name above.
The constraints to be encountered which include money, time and co-operation of the employee, the recommendation and bibliography is to ensure that there available resources are used to perform their functions, there must be proper accountability, this is provided by the accounting system and policies adopted by this industry.
Also staff should be computer literate since accounting department is computerized that is it can be saves time and that is why staff should be sent for professional training form time to time.
ACCOUNTING SYSTEM
ACCOUNTING SYSTEM
INTRODUCTION
5.0 SUMMARY CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
5.2 CONCLUSION
BIBLIOGRAPHY
APPENDIX I
APPENDIX II
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The condition for development and adequate management of any business organization is good information system. It is very important to note the inadequate information in any production industry can influence its activities. A highly productive and organized industry will ensure that the business continues in existence by providing adequate information system.
An accounting system consist of the personal procedures devices and records used by an organization to develop accounting information and to communicate this information to decision markers. The design capabilities of these system very greatly from one organization to the other. In very small business the accounting system may consist of little more than a cash register check book and an annual book to an income tax payer.
But in large business tike production industries an accounting system that can enable them to cash which includes computing highly trained personal and accounting reports which affect the daily operation of every department.
The basic purpose of the accounting system in business establishment be evaluated to know if there is proper accounting system or if there is more.
Peterson zochinis since inception has made huge success both in the past and present.
Although during the first word war they were faced with a square test as young as they were then but as the result of their royal and committed team of employees the business survived.
1.2 STATEMENT OF THE STUDY
A significant proportion of any company yearly budget allocation is being brought into the development and improvement of the company objective. The main objective or aim of any organization is profit making. It is wise to say that these production industries are established for profit making.
Quite a number of people has seen the ineffectiveness and down fall in the activities of some production industries this may arise as a result of poor management inadequate manpower lack of qualified employees or inadequate funding. Meanwhile much had been said about encouragement of product spending and methods of accounting for the income of these production industries.
This research is of the view that the problem is that of interest organization of these production industries, this must have much to do with computer operation, accounting system producers and control in line with this, the study will dwell on improving the effectiveness of accounting system and control of Paterson Zochonis Industries Plc Aba.
1.3 OBJECTIVE OF THE STUDY
Based on the background of study and statement of the problem given above the major objective of this Study will be built around the following
1.4 RESEARCH QUESTION
This research focuses on the following, there is no functional and properly designed accounting system in pz.
There is functional and properly designed accounting system in pz
Poor financial result by pz is not related to the abuse of stationers disregard to the maintenance staff and lack of effective purchasing agent.
1.5 SIGNIFICANCE OF THE STUDY
The researcher strongly believes that much of the administrative failure of most of the production industries as a result of the ineffectiveness of the accounting system of these industries.
This research work is geared toward,
1.6 SCOPE OF THE STUDY
The following assumption have been made up by the research:
1.7 LIMITATION OF THE STUDY
This research is focused on a case study of Paterson Zochonis Industries Plc Aba due to limited time and the difficulty of data collection in production industries.
The research will evaluate the accounting and financial problem facing the industry with the view to determine the necessary control measure on this area. The study will cover accounting for income revenue reporting budget and system of control use of computer system and financial practice of the industry.
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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.
(A CASE STUDY OF PETERSON ZOCHONIS PLC ABA)
ABSTRACT
Improving the effectiveness of accounting system in production industries in Nigeria. (A case study of PZ industries plc Aba).
Most of the production industries have actually collapse because of inadequate and ineffective accounting system in the accounting department of production industries, the growth of any country industries depends on the level of their accountability to a large extent to the success of the industries.
Therefore this project is aimed at indentifying and describing the need for an effective accounting system in the accounting departments of production industries. As a background of the project the effectiveness of accounting system in production industries with a particular reference to Peterson zochonis Aba reviewed the project will illustrate the strength and weakness of accounting system.
This study is also undertaken to evaluate the accounting policies of the industry with the view of improving their accounting system and control. The research will be interviewed for more information, also through the use of questionnaire which will be prepared and sent to respondents in the selected offices name above.
The constraints to be encountered which include money, time and co-operation of the employee, the recommendation and bibliography is to ensure that there available resources are used to perform their functions, there must be proper accountability, this is provided by the accounting system and policies adopted by this industry.
Also staff should be computer literate since accounting department is computerized that is it can be saves time and that is why staff should be sent for professional training form time to time.
CHAPTER ONE
- INTRODUCTION
- BACKGROUND OF THE STUDY
- STATEMENT OF THE STUDY
- OBJECT OF THE STUDY
- RESEARCH QUESTION
- SIGNIFICANCE OF THE STUDY
- SCOPE OF THE STUDY
- LIMITATION OF THE STUDY
CHAPTER TWO
- LITERATURE REVIEW
- INTRODUCTION
- DEFINITION FRAMEWORK OF AN
ACCOUNTING SYSTEM
- CONCEPTUAL DESIGN OF AN ACCOUNTING SYSTEM
- COMPONENT OF AN ACCOUNTING SYSTEM
- REVENUE RECOGNITION AND INCOME REPORTING
- NATURE OF REVENUE
- REVENUE RECOGNITION
- ACCOUNTING CONTROL IN RELATION TO THE
ACCOUNTING SYSTEM
- BUDGETING
- BUDGET SYSTEM
- TYPES OF BUDGET
- BUDGETING CONTROL SYSTEM
- COMPUTER ACCOUNTING
- SPREADSHEET PAGES
- APPLICATION OF SPREAD SHEET
CHAPTER THREE
- RESEARCH METHODOLOGY
- RESEARCH DESIGN
- AREAS OF STUDY
- POPULATION OF THE STUDY
- LIMITATION OF THE STUDY
- IMPLICATION OF THE STUDY
- INSTRUMENT FOR DATA COLLECTION
- METHOD OF DATA COLLECTION
- METHOD OF DATA OF DATA ANALYSIS
CHAPTER FOUR
- PRESENTATION ALAYSIS AND INTERPRETATION OF DATA
INTRODUCTION
- ANALYSIS OF NUMBER OF QUESTIONNAIRE SENT OUT AND RETURNED.
- ANALYSIS OF RESEARCH QUESTION
- OBSERVATION
CHAPTER FIVE
5.0 SUMMARY CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
5.2 CONCLUSION
- RECOMMENDATION
BIBLIOGRAPHY
APPENDIX I
APPENDIX II
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The condition for development and adequate management of any business organization is good information system. It is very important to note the inadequate information in any production industry can influence its activities. A highly productive and organized industry will ensure that the business continues in existence by providing adequate information system.
An accounting system consist of the personal procedures devices and records used by an organization to develop accounting information and to communicate this information to decision markers. The design capabilities of these system very greatly from one organization to the other. In very small business the accounting system may consist of little more than a cash register check book and an annual book to an income tax payer.
But in large business tike production industries an accounting system that can enable them to cash which includes computing highly trained personal and accounting reports which affect the daily operation of every department.
The basic purpose of the accounting system in business establishment be evaluated to know if there is proper accounting system or if there is more.
Peterson zochinis since inception has made huge success both in the past and present.
Although during the first word war they were faced with a square test as young as they were then but as the result of their royal and committed team of employees the business survived.
1.2 STATEMENT OF THE STUDY
A significant proportion of any company yearly budget allocation is being brought into the development and improvement of the company objective. The main objective or aim of any organization is profit making. It is wise to say that these production industries are established for profit making.
Quite a number of people has seen the ineffectiveness and down fall in the activities of some production industries this may arise as a result of poor management inadequate manpower lack of qualified employees or inadequate funding. Meanwhile much had been said about encouragement of product spending and methods of accounting for the income of these production industries.
This research is of the view that the problem is that of interest organization of these production industries, this must have much to do with computer operation, accounting system producers and control in line with this, the study will dwell on improving the effectiveness of accounting system and control of Paterson Zochonis Industries Plc Aba.
1.3 OBJECTIVE OF THE STUDY
Based on the background of study and statement of the problem given above the major objective of this Study will be built around the following
- To evaluate the accounting and financial control measure of pz plc.
- To analyze the information provided by the accounting system according to their usefulness for decision making that improves the operational efficiency
- To evaluate the financial system with the view to identify the sources of measures for investment to meet the increasing need to replace absolute equipment to meet technological innovated and to examine its effect on financial and budget allocation of the industry.
1.4 RESEARCH QUESTION
This research focuses on the following, there is no functional and properly designed accounting system in pz.
There is functional and properly designed accounting system in pz
Poor financial result by pz is not related to the abuse of stationers disregard to the maintenance staff and lack of effective purchasing agent.
- It the examination of financial statement one of the role of improving the effectiveness of accounting system in production industries in Nigeria.
- Is the determination of financial of parastatals is one of the role of improving the effectiveness of accounting system in production industries in Nigeria
- In improving the effectiveness of accounting system in production industries in Nigeria maintain an accounting practice to the company?
1.5 SIGNIFICANCE OF THE STUDY
The researcher strongly believes that much of the administrative failure of most of the production industries as a result of the ineffectiveness of the accounting system of these industries.
This research work is geared toward,
- Bringing the accounting and financial control problem of the production industries to light
- Suggesting a financial structure that suits accounting need of production industries.
- Making further research into some other functional areas of production industries
- Serving as future reference for researcher
1.6 SCOPE OF THE STUDY
The following assumption have been made up by the research:
- The primary objective of the company are known by the employee.
- The benefits which may accrue to the industry chosen as a result of correct usage of accounting system can also apply to other firms in the same industry.
- That there is substantial and adequate communication and feedback system flowing from top management to all employees and vice versa, within the industry.
1.7 LIMITATION OF THE STUDY
This research is focused on a case study of Paterson Zochonis Industries Plc Aba due to limited time and the difficulty of data collection in production industries.
The research will evaluate the accounting and financial problem facing the industry with the view to determine the necessary control measure on this area. The study will cover accounting for income revenue reporting budget and system of control use of computer system and financial practice of the industry.
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.
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