The basic concern of this study is the evaluation of accounting procedures in Nigerian public enterprise.
Nigeria public enterprises are characterized with embezzlement, fraud, misappropriation, theft, negligence and non-observance of the existing polices. These were deemed to have been possible because they were there were no adequate and efficient accounting systems and procedures and were found, they were either not properly adherent or weak and effective.
Data were obtained using the primary and secondary methods of data collection. Primary data were collected through personal interviews with the accounting officers of the corporation through open-ended questionnaires while secondary source data were collected through journals and the observation of prepared annual reports of the corporation. The data collected were analyzed using percentages and chi-square.
The analysis of data revealed that accounting procedures employed by the corporation were observed to a large extent, that corporations have complied with almost all the principles governing governmental agencies. It can also be deduced that non-conformity with theoretical principles governing governmental agencies is not a problem faced by corporations.
In order to ensure the efficiency of accounting procedures in Nigerian public enterprises the following should be strictly adhered to:
Ø Staffs must be motivated.
Ø Qualified personnel should be employed.
Ø Proper accounting standard should be adopted.
Ø Effective administrative control should be put in place.
Ø The accounting system should comply with statutory and legal requirement of the country.
Ø Accounting department should be computerized.
TABLE OF CONTENTS
Table of Contents x
1.0 Introduction 1
1.1 Background to the Study 1
1.2 Statement of the Problems 3
1.3 Objectives of the Study 5
1.4 Significance of the Study 6
1.5 Research Questions/ Hypothesis 7
1.6 Research Methodology 8
1.7 Scope and Limitation of the Study 9
1.8 Definition of Terms 10
1.9 Organization of the Study 12
End of Chapter References 16
2.0 Literature Review 17
2.1 Framework of Accounting Procedures 18
2.2 Evolution of Governmental Accounting 19
2.3 The Concept of Governmental Accounting 21
2.4 Objectives of Governmental Accounting 22
2.5 Characteristics of Government Accounting System 24
2.6 Parties interested in Government Accounting Information 27
2.7 Comparison of Public and Private Sector Organization 28
2.8 Similarities of the Public and Private Owned Organizations 30
2.9 Theoretical Rules or Principle Guiding the Accounting
Procedure in Government’s Unit 31
End of chapters References. 53
3.0 Research Methodology 54
3.1 Research Focus 55
3.2 Research Instruments 56
3.3 Restatement of Research Questions and Hypothesis 57
3.4 Description of the Population and Sample of the Study 58
3.5 Sources of Data Collection 58
3.6 Description of Questionnaire 59
3.7 Methods of Data Analysis and Description of
Tools of Analysis 59
End of Chapter References 62
4.0 Data Analysis, Interpretation and Discussion of Findings 63
4.1 Interpretation of Items 63
4.2 Analysis of Data 64
4.3 Analysis of Tables 64
4.4 Test of Hypothesis 80
End of Chapter References 87
5.0 Summary, Conclusion, Recommendation and
Suggestions for Further Studies 88
5.1 Summary 88
5.2 Conclusion 92
5.3 Recommendations 93
5.4 Suggestions for Further Studies 95
End of chapter references 97
Appendix 1 00
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