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ACCOUNTING PROCEDURE
IN POST PRIMARY INSTITUTION
CHAPTER ONE
INTRODUCTION
1.0
BACKGOUND OF THE STUDY
Accounting procedure in post primary institutions means the process or system
by which the various governments approved fees are collected and accounted for
by accredited revenue collectors.
Revenue as income to any organization, institution is there to the government
as blood is to human being. The need for there to be accuracy accounting
procedure is to prevent error in the records so that they show the true and
fair view of the post primary institution. This study highlight some of
the problems as
(1)
organizational problems
(2)
personal problems
Equipments and
encouragement should be adequately provided incentives given to Bursar’s for
dedication towards increasing their pace of revenue collection accounting for
them to maximize government accounting policies.
1.1
STATEMENT OF THE PROBLEMS
The study is designed
to evaluate and assess the accounting procedure in post primary institutions
notable in Nsukka North Local Government Area. The procedure in use is
efficient and effectives and the system suit the current trend of events.
There is also implace
the Central Pay-rolling system and most recently they have introduced computer
system and aimed at computerizing the entire systems of the boards accounting
administration and management.
However, there are
still problems in schools accounting systems like reported cases of fund,
forgery of purchase invoices, bank tellers manipulation, poor rendition of
revenue and low revenue return.
1.2
OBJECTIVES OF THE STUDY
The basic objective
of this study is to evaluate the accounting procedure in post primary
institutions in Nsukka North Local Government Area.
Specific objectives
of the study are as follows:
(1)
To investigate the system of accounting to know whether it is appropriate.
(2)
To ascertain the extent to which the established accounting system in achieving
revenue collection and accounting of objectives.
(3)
To determine the extent to which schools follows the established accounting
system.
(4)
To discover the loopholes in the accounting system in the establishment.
1.3
RESEARCH QUESTIONS
(1)
In what ways can accounting system be appropriate?
(2)
What is the relationship between revenue collection and accounting of
objectives?
(3)
What are the steps that school follows to established accounting system?
(4)
How can the loopholes in the accounting system be discovered in the
establishment.
1.4
SCOPE OF THE STUDY
This work reviews the
accounting system procedure methods as is being operated in Post Primary
Institutions within Nsukka educational zone of Enugu State. This project
work was executed under twelve calendar months. In this regard I can
easily identify time constraints as a limiting factor.
1.5
SIGNIFICANCE OF THE STUDY
Significant of this
study are categories into two:
(1)
Practical significant
(2)
Academic significant.
Practical
Significance: The practical significant of
this study is that some institutions in Nsukka zone are facing a lot of
problems because of the low revenue return caused by the head of the
schools. But this study will assist all head of the schools including the
auditors to have proper accounting records. This is by informing the head
of the schools to plan for future because accounting procedures will help the
institution to utilize the fund that is coming inside the school very well so
that the school accounting system will be more efficient and effective.
Academic Significance:
Though the researcher restricted the study to Nsukka North Local government,
the result of the findings will be of immense benefits to students conducting
similar research work on the same topic or ones related to it.
1.6
DEFINITION OF TERMS
Accounting:
This is a discipline concerned with the recording, analyzing and forecasting of
income and wealth of business organizations and other entities.
Data:
This is a collection of incoming or sougheal facts which need to be processed
so that information is produced.
Education:
This is the prime factors of development. By education here reference is
being made to the schools scattered in the localities of Nsukka North Local
Government Area and the certificate.
Information:
Information is defined here as a product of structured and processed meaningful
data for purposes of satisfying certain desires and requirements.
Method:
These are the means or ways by which the system in an organized set-up are
operated and implemented.
Procedure:
This is a set of clerical activities through which a company or organizations
activities are executed and controlled which provides information to a management.
Post Primary School:
As it is used in this project denotes secondary school. Post primary
institution accounting in this context can therefore be said to be the system
of accounting adopted by post primary institutions in Nsukka zone in Enugu State.
Revenue Returns:
This is a term specifically used in public sector accounting to denote the
process of collecting money on behalf of an appropriate authority usually the
government and remitting such money to that authority via a pre-set procedure
of format.
System:
In the business sense, it is an organized method of accomplishing a business
function accounting system therefore is an organized method of accomplishing an
accounting function.
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