TABLE OF CONTENT
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Table of content v
CHAPTER ONE
Introduction.
1.1
Background
of the study
1.2
Statement
of the problem
1.3
Objective
s of the study
1.4
Significance
of the study
1.5
Scope
and limitation of the study
1.6
Definition
of the terms.
CHAPTER TWO
Literature review
2.0 Introduction
2.1 Voluntary
health and welfare organization
2.1.2 Public sector accounting
2.2 Accounting system reporting practice of non-profit
making organization
2.3 General treatment of fixed assets and
depreciation of non –profit making organization
CHAPTER THREE
Case study and methodology
3.1 historical
background of kwara state water corporation
3.1.1
Corporation assets
3.1.2 The staff strength.
3.2 Research
methodology
3.3 Sources
of data.
CHAPTER FOUR
Data presentation analysis and
interpretation
4.1 The
co-operations organization mode of operation
4.2 The
organ gram of kwara water co-operation
4.3 Diagram of accounting procedure in kwara
state water corporation.
4.4 Analyzing
of accounting procedure
4.5 Analyzing
of balance sheet under capital employed.
4.6 Analyzing
of income and expenditure account
4.7 Analyzing
of the comparatives.
CHAPTER FIVE
Summary, conclusion and
recommendation
5.0 Introduction
5.1 Summary
5.2 Conclusion
5.3 Recommendation
Bibliography
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND
OF THE STUDY
Non-profit making in its simplest
form includes the public sectors, ecclesiastical i.e. churches and mosques,
clubs e.t.c established to exhibit. A variety of social economic political and
loyal characteristics; it is an organization which cater for services of the
general public and a whole and thus with no view of making profit. In this
sense it has different objectives and is financed in different ways.
The basic background is to impact the
knowledge that no – profiting making organization exist and that they have
accounts that they keep among the accounts kept by non – profit, expenditure
account, wages account, statement of recurrent revenue, statement of recurrent
expenditure to mention but of few public sector. Accounting is made up of many
independence departments which are entitles on their own such like the case of
the public limited liabilities company which is a legal entity.
The purpose of accounting is
non-profit making organization includes the followings to demonstrate the
proprietary of transaction and their conformity with the established rules (i.e
rules establishing non-profit making organization) to give evidences of
accountability or stewardship within the system to provide useful information
for good control and efficient management.
1.2
STATEMENT
OF THE PROBLEM ACCOUNTING
The problem encountered in the
accounting system of non – profit making organization with reference to this
research work is as follows:-
The data i.e payment voucher, sales
voucher receipt and the likes are delayed in computation and this hinders the
progress of the system.
Some of staff is in experienced; they
do not even understand reason for operating or keeping the account system.
The
corporation cannot increases its water rate because its fixed by the government.
1.3
OBJECTIVES
OF THE STUDY
The objectives of this study
includes:-
i.
To
evaluate the accounting system of non-profit making organization critically.
ii.
To
point to areas of weakness in the accounting system
iii.
To
suggest any remedial courses of action that should be taken to improve the
system.
iv.
To
recommend a set of accounting system which will necessarily fatter the aims of
the non-profit making organization?
v.
To
examine the rate of efficiency and achievement in the non-profit making
organization
1.4
SIGNIFICANT
OF THE STUDY
This project works in significant in
the followings ways:
To enable improvement on the old
system of record keeping that is prevalent in non-profit making organization.
To enable people to understand the
system of accounting that is obtainable in the non profit making organization.
To enable non-profit making organization
understand what is realized of them by the public and to let them know what
information is needed from them.
To make self actualization in people
that non- profit making organization generate some revenue for the
implementation of their objectives.
To instill the knowledge that it
provides financial information useful, for the determining and predicting the
flows, balances and financial resources of the government.
1.5
SCOPE
AND LIMITATION OF THE STUDY
The scope of this study will be
limited to kwara state water corporation being a good example of non-profitable
making organization in the public sector. Due to time and financial constraint,
emphasis will be on its background and accounting system.
The
value of this limited to certain constraints. The most salient limitation in
that the research covers only critical evaluation of the accounting system of
the case study that is, kwara state water corporation, Ilorin.
There are some books and record that
were not released which are of more value to the research work, because they
are termed “official secrets”.
Secondly, the study is constrained
financially in terms of transportation.
Expenses, purchase of stationery,
photocopies and other incidental expenses.
Thirdly, the time within which the
project is to be completed is in short. a longer time might have allowed
greater evaluation.
Fourth, the hostility faced or
received from the respondents that in some members of state of kwara state
water corporation ranging from come today, come tomorrow syndrome
Lastly,
the data analyzed are ratable to the extent of their validity as applied by the
corporation. Therefore, sufficient reliability is major limitation of this
research.
0 1.6
DEFINITION
OF TERMS
Accounting
officer:- this is the title of the post held by the minister of the head of a
central government department. He is responsible for the general supervisor of
the accounts for the general supervisor of the accounts of this ministry and is
expected to comply fully with the checks and balanced spelt of in the existing
guide lives and financial regulations. He is responsible for the funds voted to
this department by the provisional ruling council (P.R.C) by tradition he also
licenses with the public accounts committee on all aspects of financial
management.
General
warrant; a warrant issued by the minister of finance authorizing the accountant
general to make the payment provided in the estimates
Income and expenditure account
(statement a financial account or statement that show) the surplus or deficit
of fund arising from the operations of a non – trading organization in an accounting period. While such statement are
commonly associated with public sector entities they are also prepared by
certain private entities such as charities the counterpart to this statement
for a trading organization is the profit and loss account. Imprest: an account
of cash made to an officer who requires making payment on the authority of an
imprest warrant.
Imprest
warrant: a warrant issued by the accountant general authorizing on particular
officer to receive an imprest.
Treasury:
a place where the record of public funds of the nation are kept. A term freely
used to denote the accountant generals department.
S.A: sole administrator
G.M: general manager
A.G.M: assistance general manager
ACCT: account
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