Full Project-THE NATURE OF PUBLIC SECTOR ACCOUNTING (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT ACCOUNT)

Click here to Get this Complete Project Chapter 1-5

CHAPTER ONE

1.0   INTRODUCTION

One of the things that were handed over to Nigeria by her colonial master is public sector.  This is because during colonial era, investment activities were largely in the hands of the government.  However, public sector can be defined as publicly owned companies or industries. According to Mr. Ani .W. Uchenna in his textbook titled.  “Government and Public Sectors Accounting” as that sector of the economy established and operated by government and its agencies, this distinguishes public sector from the private sector and it is organized on behalf of the citizen.  They are expected to make minimum profit from their operations.  The Nigerian public sectors consist of three separate levels of government whose stations, powers and relationship are defined by the constitution of the Federal Republic of Nigeria.  These are the federal government, the state government and local government, the state government currently 36 in numbers and the local government presenting 774 council.  Due to the fact that government has the primary duties of maintaining law and order, providing the basic infrastructural facilities as well as the guidelines for the performance of economic activities, it therefore becomes difficult to justify the scope and nature of government activity in Nigeria.  This also makes the Nigerians public sectors expensive.  It is on the record that the parastatal gobble up as much as 30 percent of the federal government’s capital budget and 40 percent of the government’s non-salary recurrent expenditure budget. Normally, accounting has been defined as a process of recording, classifying, summarizing and report business transaction.
Accountability is furnishing some one with satisfactory reliable, verifiable accessible records, reasons and expectations for actions of those having custody of power, human resources, public money and other resources, public-sector accounting is the preparation and analysis of final accounts of government ministries and parastatals in model and advanced accounting standard. This researcher has chosen to research to focus on the nature of the accounts of the local government.  It is the third level of government in Nigeria.  Administration in Nigeria was in the beginning a colonial creation through which the ‘natives’ were involved in modern system.  Between the 1800’s and the 1930’s, the colonial natives authorized were established in their rudiment farm in the country.  They have undergone several changes since Nigeria become independent almost 40 years ago.  G.O. Orava (1978) emphasized that one of the main reason why local council exist is to collect various forms of revenue.  From its citizens and to use these to provide social services in an efficient manner as possible.  It has to prepare periodically a plan of expected cost of various service to be provided in the coming year.  The expenditure pattern. The fund management Auditing and accountability, by the elected and appointed politicians as well as servicing efficiently in the local government with a view of improving its service. The history of Nigeria local government can be dividend into six major phase which includes.
i.       The early colonial phase from 1900 – 1952
ii.      The late colonial early independent period from 1952 – 1963.
iii.     The first military phase 1966 – 1975
iv.     The second military phase from 1975 – 1979
v.      The presidential civilian era of 1979 – 1983
vi.     The third military era of 1979 – 1983
During the early colonial phase indirect rule system operated.  Initially, they were constituted as sole native authorities symbolized by the all pervading power exercised solely by the traditional chiefs and emirs as agents of the colonial government.  The experiment in local democracy proved a complete failure and when the military came to power in 1966 all the local councils were dissolved, and then function taken over by councilors, nominated by respective military governments, and some traditional rulers.  During this period, the powers, finance and effectiveness of the council were considerable reduced, revenue from various services as well as government grant receivable by the council.
Other reasons for the establishment of local government authority include.
i.       To bridge the communication gap between the rural areas and the urban centers and between the federal government and the rural area.
ii.      Bring of government closer to the people in order to feel the impact of government activities.
iii.    To foster rapid and even social-economic development of the country.
iv.    To promote education
In an attempt to achieve therefore goal successively, government had made various efforts, which were not enough to establish an independent local government council as the colonial, regional and states government failed to find the new system of governance.  Increased responsibilities bestowed on local government coupled with substantial growth in their number, calls for improved financial capabilities for them to meet the challenges of their new roles and being able to recount and return qualified staff as well.   With the extensive administration restructuring the revenue (101 to 151, to 201) and responsibilities of local government would necessitate indent study of the various source of budgetary control system and this impact formed the background to the nation-wide reform of the local government in 1976 by the military government of Murtala Obasanjo regime.
The final phase saw the disbarment of state ministries of local government in 1988 October and the regulatory function were transferred to the office of the government becomes autonomous.  Military government provision known as the local government (basic constitutional and traditional provision decree 1989). Local government function
i.       Formulation of economic planning
ii.      Development scheme for collection of rates and insurance of radio and television licenses.
iii.     Naming of roads and streets with houses.
iv.     Registration of all birth, deaths and marriage.
1.2    STATEMENT OF PROBLEM
The accounts of the local government are characterized by a lot of inadequacies.  The researcher has therefore, taken pain to highlight some of the easily identifiable ones like.
i.        Improper maintenance and keeping of accounts and other records.
ii.       Lack of satisfactory system of internal control in operation.
iii.      Failure to comply with financial memoranda in the treasury and other departments of local government.
iv.      Limitation and inadequate training opportunities for key treasury or supporting staff.
v.       Lack of experienced officers to tackle onerous and vital duties of the revenue collection.
vi.      Late release of grants to the council by federal and state government.
vii.     Recruitment and placement of unqualified accounting staff to key positions.
viii.    Payments made without authorization and in most cases without availability of fund.
1.3   THE PURPOSE/OBJECTIVE OF STUDY
The purpose of this study is to established area of importance in the accounts of local governments currently being neglected by treasury department of the various local governments which will assist in reducing or minimizing the enormous sum of money that are lost annually from misappropriation, negligence and errors of commission. The objective of the study however, intended, to evaluate and highlight some of the various constraints inhibiting an efficient financial management in the local government.
1.4   SIGNIFICANT OF THE STUDY
Since the local government system in Nigeria is still in a development process.  The study will help in achieving the following.
a.    Given generally, guidance and advice to the councils on all matter pertaining to the treasury and conduct of the councils business.
b.     Ensure that proper system accounting is being maintained in all the councils.
c.     Ensure that the council discharges its responsibilities by the supervision of its finance.
d.     Enable prospective employees know in advance what record are kept.
e.     Compare the ways records are kept in business environment and that of local government.
1.5   General statement of hypothesis
This research work will test the following hypothesis which when analyzed, interpreted, evaluated, will from the basis of conclusion and recommendation.
Hi:   Revenue accounting services as a measure of efficiency in the local government
H0:  Revenue accounting services as not a measure of efficiency in the local government
Hi:   Public sector accounting is in variance with the private sector accounting.
H0:  Public sector accounting is not in variance with the private sector accounting.
Hi:   The accounting in local government is necessary for adequate record of financial activities of council.
H0:  The accounting in local government is not necessary for adequate record of financial activities of council.
Hi:   That almost all the department of local government make use of accounting information.
H0:  That not almost all the department of local government make use of accounting information.
1.6   Scope and limitation
i.      Indept study could only be carried out in some of the department of the local government visited.
ii.     Some of the staffs were unable to divulge to me some important facts and data for fear of victimization.
iii.    Some of the copies of the account kept by the local government council were not given to me and this prevented me from including them on appendix.
iv.   The flow of necessary information from key official were hindered by the enormous official duties by the members of this local government council.
1.7   DEFINITION OF TERM
REVENUE: Additions to assets or decrease in liability always give rise to increase in the residual equity in a fund.
EXPENDITURE: Outflows of working capital include those charges relate to the current fiscal period.

Get the Complete Project

This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.

Click here to Get this Complete Project Chapter 1-5

You can also check other Research Project here:

1, Accounting Research Project

2. Adult Education
3. Agricultural Science
4. Banking & Finance
5. Biblical Theology & CRS
6. Biblical Theology and CRS
7. Biology Education
8. Business Administration
9. Computer Engineering Project
10. Computer Science 2
11. Criminology Research Project
12. Early Childhood Education
13. Economic Education
14. Education Research Project
15. Educational Administration and Planning Research Project
16. English
17. English Education
18. Entrepreneurship
19. Environmental Sciences Research Project
20. Guidance and Counselling Research Project
21. History Education
22. Human Kinetics and Health Education
23. Management
24. Maritime and Transportation
25. Marketing
26. Marketing Research Project 2
27. Mass Communication
28. Mathematics Education
29. Medical Biochemistry Project
30. Organizational Behaviour
31. Other Projects
32. Political Science
33. Psychology
34. Public Administration
35. Public Health Research Project
36. More Research Project
37. Transportation Management
38. Nursing

Need a Project Writer for a Different Topic

• MSC PROJECT WRITING SERVICES
• MBA RESEARCH PROJECT WRITING SERVICES
• Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
• Masters Research Project Writer in Lagos Nigeria
• MBA Research Project Writer in Lagos Nigeria
• LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
• PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
• BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
• MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Education Research Project Writer in Lagos Nigeria
• Environmental Sciences Research Project Writer in Lagos Nigeria
• Guidance and Counselling Research Project Writer in Lagos Nigeria
• Human Kinetics and Health Education Project Writer in Lagos Nigeria
• Early Childhood Education Research Project Writer in Lagos Nigeria
• Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
• Educational Administration and Planning Research Project Writer in Lagos Nigeria
• Political Science Research Project Writer in Lagos Nigeria
• Accounting Research Project Writer in Lagos Nigeria
• Economics Research Project Writer in Lagos Nigeria
• Management Research Project Writer in Lagos Nigeria
• Marketing Research Project Writer in Lagos Nigeria
• Public Administration Research Project Writer in Lagos Nigeria
• MBA Research Project Analysts
• In Need of MBA Research Project Writer in Nigeria
• MBA Dissertation Research Project Writer
• MBA Project writer
• EDUCATION DEPARTMENT PROJECT WRITING SERVICES
• BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
• MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
• MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
• POST GRADUATE RESEARCH PROJECT WRITER
• POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
• MASTER RESEARCH PROJECT WRITER
• MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
• POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
• MASTERS RESEARCH PROJECT WRITING SERVICES
• RESEARCH PROJECT WRITER
• EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
• HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
• SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Master Degree Research Project Specialist/Writer in Lagos, Nigeria
• Hire A Research Project Writer in Lagos Nigeria
• Research Project Specialist in Lagos, Nigeria

• Education