Table
of contents
CHAPTER
ONE
1.0 INTRODUCTION
1.1
BACKGROUND OF THE STUDY
1.2
STATEMENT OF THE PROBLEM:
1.3
OBJECTIVE OF THE STUDY:
1.4
RESEARCH QUESTION:
1.5 RESEARCH
HYPOTHESIS:
1.6 SIGNIFICANCE OF THE STUDY:
1.7 SCOPE/
DELIMITATION OF THE STUDY:
1.8
LIMITATIONS OF THE STUDY:
1.9
DEFINITIONS OF TERMS
CHAPTER TWO
2.0 LITERATURE
REVIEW:
2.1
LONG- TERM (STRATEGIES) PLANNING:
2.2 SHORT-TERM
(TACTICAL) PLANNING:
2.3 CONTROL
2.4 FEED-BACK
CONTROL:
2.5 ACCOUNTING
CONTROL MAY BE SUMMARIZED IN THE FOLLOWING STEPS:
2.6
STEPS IN ACCOUNTING PLANNING AND
CONTROL
2.7
FACTORS TO BE CONSIDERED WHEN PLANNING:
2.8
SOURCE OF FUND:
2.9
KEY DUTIES
OF ACCOUNTING PLANING AND CONTROL
CHAPTER THREE
3.0
RESEARCH
METHODOLOGY
3.1 DESIGN
OF THE STUDY
3.2 POPULATION
OF THE STUDY
3.3 SAMPLE/SAMPLING
TECHNIQUES
3.4 METHOD OF DATA COLLECTION
3.5 METHOD
OF DATA ANALYSIS
CHAPTER FOUR
4.0 DATA PRESENTATION
4.1 PRESENTATION AND ANALYSIS
4.2
TEST OF HYPOTHESIS
CHAPTER FIVE
5.0
SUMMARY, RECOMMENDATION AND
CONCLUSION
5.1 SUMMARY
OF THE FINDINGS
5.2 RECOMMENDATION
5.3 CONCLUSION
REFERENCES
QUESTIONNAIRE
CHAPTER ONE
1.0 INTRODUCTION
The process of
managing a business or an organization consists of the basic elements of
planning, control and decision making. Planning and control are parts and
parcel of our daily likes. Planning and
control of cost and operations is the key to good management. Accounting control
is a process of developing plans for a company’s expected operations to help to carryout
those plans.
Accounting
planning has to do with setting out aims and objectives to be achieved over a
period of time and control monitors how well the aims and objective are
achieved. The preparation of a company’s finance is the single important aspect
of its success. As a tool of management, it can increase the efficiency of the
organization at a while since all the departments are involved. The accounting
planning and efficiency are not achieved by an organization if they are not
properly financed. The efficiency and effectiveness of any organization,
therefore depend on a number of factors which may be categorized as clarify of purposes,
management, planning, control and communication.
There is a need to have a clear knowledge of the objectives
of the organizations, otherwise it will not be possible to identify goals set
target for their achievements in form of planning, control and management of its finance. accounting
management has to do with planning, controlling, acquiring and utilizing
of funds in a way that maximized the efficiency of the firm, most especially,
(finance is the evaluation and acquisition product assets, procurement of funds
and disbursement of which involved funds). The finance received by any business
may be influenced by the followinFixed assets necessary for producing and
distribution of products e.g. plants and machines.
b)Raw materials plants and miscellaneous supplies to
purchase.
C)Wages and other expenses to be paid.
There are
alternative involved in accounting decision which include the use of internal
and external source. The source is mostly used for the firms operation and
should not be over looked when planning finance. They are generated from
operation or retained in current assets. The external sources are made up of
three main types namely: short term, medium term which consist of back loan, hire purchase and sale and lease back
equipment. Long term consist of
debenture with a fixed charge or floating charge.
The need for
Accounting planning arises becauseAccounting resources are limited and costly
and even where the resources are available; the areas into which they could be
applied to make profit are diverse.
Planning and control acts as a device that enable management to anticipate changer are
adopting it. No business exists without this concept and success in business is
proportionate to its planning and skill with which it is controlled.
1.1 BACKGROUND
OF THE STUDY
Owerri municipal council
Owerri municipal council officially came into existence on
December 5, 1989 during the regime of Gen. Ibrahim Babangida. It is striking to
note that the new Owerri urban district was created under eastern region legal notices No 218 of 1955.
Further in 1958 it was renamed country council and in 1960 it was properly
called local government. In 1966, East central state was created and the local
system was abolished and civil war broke out.
After civil war,
in 1971 the local administration was called decision administration and
Owerri division was created comprising
the present Owerri municipal, Ngor
okpala L.G.A, Owerri north L.G.A and
Owerri west L.G.A. in 1976, under the murtala Mohammed state
creation exercise, Owerri
suddenly bounded bank into prominence
and it regained its lost glory by becoming the capital of Imo state
with the development
trappings associated with the New role.
Another major local
government review headed
by chief Arthur mbaneto
was carried out during
the regime of Gen. Ibrahim
Babangida and on December 5, 1989, the federal government gave Owerri
urban, the original Owerri people a
municipal council area which comprises
the following villages: umuoronjo, Amawom, umuonyeche, umuodu and umuonyina
popularly called Owerri- nchi-ise. Other areas included are: The federal and
state housing estates, as well as commercial and industrial layout. Owerri
municipal is now seriously assuming the
regional head quarters of the East, with the federal government locating most of its zonal offices in Owerri, viz: customs, immigration, equally
followed suit because of its strategic
location in the heart of Imo state.
According to 2005
national causes figure, Owerri municipal is tentatively put to be 127, 213,
where 62, 990 are male and 64, 223 are female. However, this projection has
almost been double. Owerri municipal council is strategically located at the
center or heart of Imo state. This has
caused its dominance of other semi-urban L.G.A.
In Imo state to suffer and upsurge in population and traffic congestion
everyday. Reasonably, the federal and state government as well ass
non-governmental and international organizations intervene appropriately: its
peaceful nature will result to total clean-lines as it has assumed for now.
1.2 STATEMENT
OF THE PROBLEM:
The
problems associated with this study are the following:
• Inadequate fund: The sources of
revenue of some organization (local government) are just too limited for their
commitments. Consequently, they would require subsides from the state
government to execute capital project.
• Lack of qualified staff: This is
true of most local government particularly the professional cadre. The problem is not unconnected with the
unattractive conclusion of service to this cadre in the local government as
compares with colleagues in the state/ federal services.
• Lack of basic infrastructure: Absence of
skilled manpower to manage and direct the affairs of local government to
manifest in the absence of basic infrastructure.
•
Some
organizations are not doing well during their operations due to wrong accounting planning, control and also poor
management.
1.3 OBJECTIVE
OF THE STUDY:
accounting planning and control is the key ingredients
of successful management at all levels. The objectives of this study will be:
• To assess the effectiveness of forecasts of cash receipt and
disbursement.
• To evaluate how the allocation are being carried out and evaluated.
• To find out the borrowing
requirement of organization
• To find out how organization plan
their investment programmes.
• To know how efficient and effective
operation which have been adopted and approved by government to strengthen the
accounting base of the council. E.g.
Revenue derivatives, slaughter slab fees, shops and kiosk rate etc.
• To know and assess the extend of
lending, bank borrowing, hire purchase, sale and lease, bank in the council.
1.4 RESEARCH QUESTION:
To carry this research effectively, certain questions were asked in order to ascertain
the relevant information needed. Such questions are:
• How does the management of Owerri
municipal council, Imo state attend to the problem of accounting planning and
control in their organization?
• How does planning and control
enhance management decision?
• Enumerate the efficiency of
management in respect with accounting planning and control.
• What are the techniques for accounting
planning and control?
• How dose planning and control boost
an organizational goal.
• What are the benefit management
drive from planning and control?
1.5
RESEARCH HYPOTHESIS:
In order to ensure that the conclusion
made from the study is free from bias of any sort, the hypothesis are
formulated and tested.
HO: Null Hypothesis
HA: Alternative Hypothesis
HO: There is no relationship
between accounting planning and control to management
efficiency.
HA: there is a relationship between
AccountingAccounting planning and control to management efficiency.
1.6
SIGNIFICANCE OF THE STUDY:
The important of this study will be
in the development of method using Accounting planning and relevant policy
decision which if well applied will increase their efficiency and
effectiveness. It will also make the government of various areas to know the
need of setting a target and how to achieve those targets made and controlling
those plans in order to ensure those targets are achieved and monitored. Some
importances of Accounting planning are:
1.7
Accounting planning and control
helps management anticipate and
Systematically prepare for future
resources.
• Planning helps Owerri municipal
council keep on top of the ever present charges in information technology.
• Planning helps to develop much users
and the organizations needs.
• Planning and control facilitates management
approval and users view
1.8 SCOPE/
DELIMITATION OF THE STUDY:
Here, we up how managerial function
can assist the local government outline the things to be alone, the method to
be adopted to accomplish the purpose and the activity within allowable limits
as measured from expectations. These expectations may be implicit or explicitly
stated in terms of objectives, plans, procedures or rules and regulations. This
study covers Owerri municipal council but the result case shed is generalize
for other council in Nigeria
LIMITATIONS
OF THE STUDY:
This study was limits by the
following:
• Time constraint is against the much demanding
nature of the work in the areas of visits the organization of study.
• Unavailability of enough
Accounting banks up necessary for the required achievement of the objectives of
the tasks.
• Uncompromising attitude of some
staff.
1.9
DEFINITIONS OF TERMS
• Finance: This is the evaluation and
acquisition of productive assets, procurement of funds and disbursement of
funds.
• Efficiency: this is the effective
achievement of result. It is the ratio output to input. This has to do with the
equality of people in which the resources are required to achieve an
organizational goal.
• Planning: This is setting centre of
an organization in examining the future and scheduling causes of action.
• Management: This is a process of
achieving organizational goals or objectives through the use of people and
other resources of the organization.
• Control: this is the means to ensure
that organizations are achieving their objectives.
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