THE IMPACT OF PUBLIC SECTOR ACCOUNTING IN NIGERIA FINANCIAL CONTROL SYSTEM (A CASE STUDY OF ESAN SOUTH EAST LOCAL GOVERNMENT AREA, EDO STATE)

ABSTRACT

This research was aimed at finding out the impact of public sector accounting in Nigeria financial control system using Esan south east local government area of Edo state as a case study. The purpose was to find out if the control of public fund adopted by the local government is appropriate, to determine whether the public sector accounting principle applied by the local government is appropriate and effective and also to investigate whether the source of revenue to the local government is enough for them etc. The population size used was the staff and members of Esan south east local government area of Edo state, out of which the sample size was selected using the Taro Yamani‟s sampling techniques.

Data for this study were primarily and secondarily sourced. Chi-square was used to analyze the responses gotten from the distributed questionnaires. The findings made in this study are; the public accounting principles applied by the said local government area is inappropriate and ineffective and the control of public fund measures adopted is also inappropriate etc, based on the findings, it was concluded that the public sector accounting principles applied by the local government is inappropriate and also the control of public fund measures adopted was inappropriate. Recommendations were also made based on the findings which are, an account committee should be set up to control the accounting system of the said local government and monitor their day to day activities etc and when this is met, the goal of creating the local government will be achieved.

CHAPTER ONE

INTRODUCTION

1.1            BACKGROUND OF THE STUDY

Public sector is that sector of the economy established and operated by government and its agencies distinguishable from the private sector and are organized on behalf of the whole citizens whilePublic sector accounting is the process government agencies and municipalities use to record financial transactions.

Mathias, (2004:78). Said, similar to private sector accounting in theory, the focus of public sector accounting is somewhat different. Most government agencies and municipalities need to track funds generated from tax revenues and expenditures related to projects or appropriations. In addition, nations may need to follow a set of standard of accounting principles different from private sector accounting rules. The creation of an international accounting standard helps nations...

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Item Type: Project Material  |  Attribute: 67 pages  |  Chapters: 1-5

Format: MS Word  |  Price: N3,000  |  Delivery: Within 2hrs

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