ABSTRACT
This research project concerned a study of
the financial record keeping of religious organizations: A Case Study of
Catholic Churches in Enugu Diocese. A sample of sixty-three parishes was made
from the diocese. Investigations were carried on their financial control used
both internally and externally, the accounting system and financial
decisions/reporting adopted. This showed whether there was an efficient and
effective financial record keeping in the church. Since rth research aimed at
investigating existing financial record keeping or practice the employment of
descriptive method of research was found adequate. The main instruments used
for the collection of primary data were the structured libraries and other
research units served as secondary data. The researcher ensured that the
questionnaire possessed to a large extent the characteristics necessary and
adequate for the purpose of validity and reliability. Data collected were
analyzed and presented with percentages and tables and hypothesis were tested
with the chi-square (X2) statistics and the following results
emerged.
The study revealed that the church keeps
proper record of its accounts and that there is accountability and
responsibility, every member of the finance council has to give account of the
money entrusted to him. It also showed that the church makes yearly budget
before expenses are incurred and that authorization and control of church
expenditure is vested on the management team.
Based on the finds, both short and long
term measures were recommended as ways of enhancing financial record keeping in
religious organizations.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Every
organization both business and non-business requires and uses finance for its
various activities. The business organizations are set up primarily for profit
making like banks, companies and other related ventures while the religious
organizations are not meant for profit making but for rendering services and
winning souls to God. Religious organizations can come from inform of
Christianity, Islam, Buddhism, Hinduism and other religious sectors of
organizations. The religious organization of interest is Christian religion and
indeed Catholic Church.
Since
finance is very vital for the welfare and growth of these organizations, its
administration has to be well accorded financial records keeping. Finance at
the macro level is the study of financial planning, assets management and
fundraising for business, while macro is te study of finance institution and
finance market and how they operate within financial system (Anyafo, 2000:3).
In view of Emekekwue (1993:1), finance is primarily concerned with money and
momentary matters. In general, finance can be taken as a body of
According
to Osisioma (1996:63), a system is a complete array of an ordered arrangement
of interdependent elements, with a common goal, related by a network of
relationships. Such a system has input process-output component, and it is in
itself an information system.
Financial
systems are subsystems in a business organization whose responsibility is to
ensure that business transactions are recorded in proper books of account on
the basis of recognized accounting practice, analyzed, interpreted and presented
to the users of accounting information (Ubesie, 1998:97). He further stressed
that financial system consists of financial intermediaries, financial market,
financial instruments, rules and norms that facilitate and regulate the flow of
funds through the macro economy.
In
essence, Catholic Church as one of the religious organizations is not meant for
profit making but for bringing souls to Christ. The church requires fund to
administer its affairs and to carry out its daily religious obligations. The
funds are not necessarily....
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Item Type: Project Material | Attribute: 107 pages | Chapters: 1-5
Format: MS Word | Price: N3,000 | Delivery: Within 30Mins.
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