ACCOUNTING SYSTEM AND PROCEDURE IN PUBLIC SECTOR: (A CASE STUDY OF EKITI STATE WATER CORPORATION) - UNIPROJECTS

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ACCOUNTING SYSTEM AND PROCEDURE IN PUBLIC SECTOR: (A CASE STUDY OF EKITI STATE WATER CORPORATION)


ABSTRACT
This project is designed to study accounting system and procedure in public sector with reference to Ekiti State Water Corporation.
The introduction aspect of the project discussed  about the historical background of accounting in Ekiti State Water Corporation such as date of creation and administration of the Water Corporation, land space covered and other things. Also objectives and analysis of the study was well explained, the limitation and delimitation of the study was also discussed. Areas covered and areas unable to cover were also mentioned in the study.
Chapter two of the project considers the literature review, under the literature review, I discussed fully about accounting as a profession, the definition of accounting, the system and procedure of Accounting in Ekiti State Water Corporation. Thereafter, the prospects and problems facing the accountant in the public sector with reference to Ekiti State Water Corporation were also discussed. The principles of accounting were also included with forms of accounting, roles of accounting, characteristic and peculiarity in Ekiti State Water Corporation.
Chapter three centres on the research methodology and limitation. My source of data like treasury department, rates section and internal audit were mentioned in the write up. I employed interview, questionnaire and personal observation in collection of data from the treasury department of Ekiti State Water Corporation. 
Chapter four contains research finishing organization of the department, cash office was visited and matter related to cash management were exhaustively discussed ledger unit was also visited and ledgers were examined with a view to see how transactions were recorded and the differences observed between it and companies were briefly explained.
Also, expenditure unit, capital project unit, payroll unit, loan and advances, budget, report and statistics were visited. Activities were examined and finishing in each unit were discussed in the project.
Chapter five, centres in conclusion and recommendation is the last write up to the whole study, suggestions and recommendation and improving the account system and procedure in Ekiti State Water Corporation were comprehensively discussed.        


TABLE OF CONTENTS
                                                                                               Page
Title                                                                                             i
Certification                                                                                 ii
Dedication                                                                                   iii
Acknowledgements                                                                      iv
Abstract                                                                                       vi      
Table of Contents                                                                        ix
CHAPTER ONE
1.0     Introduction                                                                       1
1.1     Background of the Study                                                   1
1.2     Objective of the Study                                                       4
1.3           Limitation of the Study                                                      5
1.4     Delimitation of the Study                                                   6
CHAPTER TWO
2.0     Literature Reviewed                                                           7
2.1     Definition of Accounting                                                   7
2.2     Accounting as a System and Procedure                              9       
2.2.1 Elements of the System and Procedure to Accounting         10
2.3     Forms of Accounting                                                         12
2.4     Principles of Accounting                                                    15
2.4.1 Accounting Concept                                                            15
2.4.2   Accounting Convention                                                     17
2.5     The Roles of Accounting                                                   18
2.5.1   Measurement                                                                     18
2.5.2   Control                                                                              18
2.5.3     Decision Making                                                                19
2.6           Characteristic of Good Accounting Information                 19
2.6.1    Relevance                                                                          19
2.6.2    Accuracy                                                                            19
2.6.3    Centralization and Decentralization of Accounting             20     
2.7     Peculiarity of Accounting System in Public Sector             20
CHAPTER THREE      
3.0           Research Methodology                                                       23
3.1     Methods of Data Collection                                                23
3.2     Procedure for the Collection of Data                                  24     
3.3     Processing of Data                                                             24     
3.4           Questionnaire Format                                                        25     

CHAPTER FOUR
4.0     Research Finding                                                               27
4.1           Organization Structure                                                       27
4.2     Accounting Services                                                          29
4.3     Cash Office                                                                        30     
4.4     Control Measures Institutionalized in the Cash                            
Office Operations.                                                                       31
4.5     Ledger Unit                                                                        33
4.6           Expenditure Unit                                                                34     
4.7     Capital Project Unit                                                            34     
4.8     Payroll Unit                                                              35
4.9     Loan and Advance Unit                                                     36     
4.10    Budget Reports and Statistics                                             38     
CHAPTER FIVE          
5.0     Recommendation and Conclusion                                      40
5.1     Recommendations                                                             40     
5.2     Conclusion                                                                        41     
Bibliography                                                                      43

CHAPTER ONE
1.0     INTRODUCTION
1.1     BACKGROUND OF THE STUDY
          Record keeping, by whatever means is as old as man himself. Modern system of keeping acco


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