TABLE OF CONTENTS
Title Page………………………………………………i
Certification……………………………………….......ii
Dedication……………………………………………..iii
Acknowledgement……………………………………..iv
Abstract………………………………………………...v
Table of Content………………………………………vi
CHAPTER ONE: INTRODUCTION
1.1 Background to the
Study…………………………..1
1.2 Statement of the
Study………………………….....3
1.3 Research Questions………………………………..4
1.4 Objective of the
Study…………………………….4
1.5 Statement of
Hypothesis…………………………..5
1.6 Significance of the
Study………………………….6
1.7Scope of the Study…………………………………7
1.8 Limitation of the
Study……………………………8
1.9 Definition of Related
Terms………………………9
CHAPTER TWO: REVIEW OF
RELATED LITERATURE
2.1 Introduction……………………………………....10
2.2 An Overview of the Historical Development of Local
Government in Nigeria……………………………….11
2.3 Characteristics of Public Sector organization Compared to
Private Sector Organization………………………….18
2.4 Definition of Local Government…………………18
2.5 Financial Process…………………………………21
2.6 The Budgetary Procedures of Local
Government…………………………………………..22
2.7 Internal Control…………………………………..41
2.8 External Audit..…………………………………..45
2.9 Auditor-General for the Federation………………46
Abstract
This study has been carried out to
critically analyse and evaluate the system of accounting in Nigeria Local
Government Councils of Edo State. This project work was necessitated by the
which the local government play in the development of the grassroots socially,
economically and politically. In so doing, the researcher used both primary and
secondary methods in collecting in Etsako West Local Government Council. Both
questionnaires and interview method were used while other data were collected
from textbooks, journals, and magazines of related literatures to government
accounting in Nigeria Local Government. However, from the result of the
findings and conclusion, it was observes by the research that the accounting
system of Etsako West Local Government fell short of been effective. As a
result of this, Etsako West Local Government has been be caught in the cobweb
of inadequate functions and powers, inadequate finance, low administration,
inefficiency and poor budgetary control. In spite of that, the research did
make some reaching and clear recommendation, which if adopted will greatly
solves some of these problems in the government council.
CHAPTER ONE:
INTRODUCTION
1.1 Background to the Study
Nigeria as a nation consist of three level of government that have interest in the public sector
accounting, therefore, the status and power of these government are dearly defined
by the constitution of the federal republic of Nigeria. Included in the government
are; Federal, State and Local government. The local government is regarded as
the third tier of the aforementioned levels of government and it is essential
in the development process of any country like Nigeria. This entails such as
provision of social welfare services, provision of community mobilization,
maintenance of local markets and road etc.
Okhaide (2001, P.1) Opined that the United Nation Office for
Public Administration (UNOPA) defined local government as “a political
subdivision of a nation or (in a federal system), state which is constituted by
law and its substantial control of local affairs including the power to oppose,
take and to employ labour for prescribed purpose”
The state governments have a considerable power over their
local government councils. The financial regulation in which the local
government applies in the preparations and presentation of their account are
formulated by the relevant statutes.
Financial regulations provide a basis for internal control
and external accountability. Nevertheless, the question which has frequently
arisen in the issue of local government is not really living up to expectation
in the eyes of the common man and government. One more aspect that has drawn
the attention of the researchers has been the allege lack of finance.
To a great extent, local government has been identified as a
catalyst of any country such as Nigeria. But these councils have been entrapped
in an uncoil cycle of poverty in Nigeria local government administration.
Johnson (1995, P.197) attributed these as inadequate funds,
embezzlement, shortage of trained personnel, poor infrastructure, illiteracy
among councilors, bribery and corruption, favoritism and nepotism, poor
collection method of taxes and poor communication system.
In addition, the system of accounting, auditing and control
in Nigeria local government dearly leaves much to be desired. These local
government hardly know of any form of audit other than those performed
periodically by officials of state government. This audit exercise came up
infrequently and when conducted are done unprofessionally.
In view of these clear deficiencies in local government
councils, this research will provide a deliberate attempt to approach these
questions with a view to taking a stand on some critical issues and making
recommendations on how to improve on the system of accounting used by the local
government.
1.2 Statement of the Problem
Accounting in the public sector was necessitated by the need
to collect and disburse funds for the need of government;
1. Is
there any system of accounting in the third tier of government?
2. Is
there any need for effective and sound system of accounting in the local
government councils?
3. Is
local government accounting and financial data useful?
4. Do
public officers at the grassroots level of local government councils given evidence of accountability of their stewardship
5. Is
there adequate information useful for the good control and efficient management
of government operation?
CHAPTER TWO: LITERATURE REVIEW
2.1 INTRODUCTION
The essence of this chapter is to
review the relevance of public sector accounting as the oldest form of
accounting.
It has been in existence before the
emergence of commercial accounting in whatever form, government being in
existence and had maintained records of taxes collected, monetarily or in kind as well as records of how
resources had been disposed off treasury.
Besides, government tends to keep and
preserve financial records longer than other entities. Notwithstanding,
government accounting has remained in the back wide in scheme of government
operation at the local government councils.
Generally, accounting may has be seen
or considered as a process in which transactions and events in an operating
entity are recorded for the purpose of accounting and providing financial
information essential for good management of activities of such an entity.
According to Adams (2006, P. 1) Public
sector Accounting is “a process of recording, communicating, summarizing,
analyzing and interpreting government financial statement in aggregate and in
details reflecting all levels of transactions involving the receipt, custody
and disbursement of government funds.” The nature of public sector is quite
characterized by financial and institutional structures. The federal government
either provides services on national basis or redistribution of funds, which are
managed on national basis, local government councils receive large proportion
of funds in the form of grants from the federal government.
2.2 AN OVERVIEW OF THE HISTORICAL DEVELOPMENT OF
LOCAL GOVERNMENT IN NIGERIA
At the end of the Second World War in 1946, British
government decided to democratize the existing indirect rule. Before this time,
local administration has been on the basis on the British colonial government
administrating local communities through local heads of chiefs. This move was
necessitated by the realization of British government on the important impact
local government has played in making a sense of community obligation and
social responsibility, with this move, local government was no longer viewed as
a tool for maintaining order but as one of economic and social development at
the grass roots, that is, the government of the day was brought closer to the
local communities.
For more information to how to get complete Project work, please call 07031335805 for further purchase or you can pay directly into our bank details provided below
Firstbank 3082143955
No comments:
Post a Comment