TABLES OF CONTENTS
TITLE PAGE
DEDICATION
ACKNOWLEDGEMENT
TABLE OF
CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 STATEMENT OF
PROBLEM
1.2 OBJECTIVE OF
THE STUDY
1.3 SIGNIFICANCE
OF THE STUDY
1.4 RESEARCH QUESTIONS
1.5 SCOPE AND LIMITATION OF THE STUDY
1.6 DEFINITION OF TERMS
CHAPTER TWO
2.0
LITERATURE REVIEW
2.1
HISTORY OF ACCOUNTING
2.2
DEFINITION OF ACCOUNTING
2.3 FEATURES OF ACCOUNTING PROFFESSION
CHAPTER THREE
3.0. RESEARCH METHODOLOGY
3.1.
RESEARCH DESIGN
3.2.
AREA OF STUDY
3.3.
POPULATION OF STUDY
3.4.
SAMPLE SIZE AND SAMPLING TECHNIQUE
3.5.
METHOD OF DATA COLLECTION
3.6.
METHODS OF DATA ANALYSIS
CHAPTER FOUR
PRESENTATION, ANALYSIS AND
INTERPREATION OF DATA
4.1. INTRODUCTION
4.2.
ANALYSIS OF RESEARCH QUESTION
4.3.
FINDINGS OF THE STUDY
4.4.
DISCUSSION OF FINDINGS
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATION
5.1 SUMMARY OF FINDINGS
5.2
CONCLUSION
5.3 RECOMMENDATION
REFERENCES
CHAPTER ONE
INTRODUCTION
The aim of this research project is to
look into in details the accounting profession and then enumerate its function
s and rise in society.
The accounting profession is regarded in
the course of history as social institution, that when ever people met in the
economic area a reference is needed to keep score, this is accounting.
Since the turn of the 19th
century, the accounting profession has grown tremendously all over the
world. Infact, during the first sixty
years of the 20th century, major economic and social force have
thrust the accounting profession to new frontiers and responsibilities. The factors contributing to this growth are
th increase of the large corporate business in number, size and complexity in
addition to government influence in the affairs of business by taxation and
regulation.
Technological
advice especially in the field of computer, which has rapidly changed the
process of data accumulation and interpretation are also factors contributing
to the growth of the accounting profession.
The role of the computer in accounting
profession has facilitated the traditional accounting function such as payroll,
cost accounting and general book-keeping.
It is also used for analytical purposes such as cost benefit analysis.
New types of work are added to the
practice of the accounting profession, installation of accounting system,
management of social activities auditing and a host of other activities
relating to financial production and organizational problem and government
units. The accountant apart from the
examine, supplying and communicating financial information to its various uses,
gives his opinion on wide variety of representation such as sales, statistics,
lease agreement advice on financial matters and tax matter budgeting, cost
control planning etc.
He had also
contributed immensely quota in a complex society in ways other than the ones
stated above such as attacking problems of urban congestive, medicine, crime
control, economic development etc.
This accounting profession is a wide
based and complex profession, this is because the above activities performed by
accountant conflict complex problems and this creates the need for a high
degree of expertise by the accountant in various specialties to enable him
solve some of the problem created by management and society.
New kinds of problems like auditing and
installation of accounting system can also beaded.
1.1
STATEMENT OF THE PROBLEM
In
discussing the problems of accounting profession when
related to the individual
and society, we have already know that accounting is the actor of recording,
interpreting and communicating financial information as an aid to decision
making.
Firstly,
is the government influence the affairs of business
Through taxation
and regulation has introduced new accounting problem and broadened the scope of
accounting.
In addition, we individual face some
problems of decision making like how much income received in a given period of
time? What expenses they will incure? Are these amount large or sooner than in
some other period? If the income exceeds expenses, what do I do with the
surplus.
If the income is
insufficient to meet, what were the sources and amount of income for the year
and to whom and in what law are pertinent to those accounting and reporting
procedures?
We individuals resolve these question
through primitive records and reports.
But the soundness of the judgment and decision depends on the quality,
timelessness of the information.
The processing of information at this level
must be systematized and managed by experts.
1.2
OBJECTIVE OF STUDY
As
we have introduced, the subject of accounting and
accounting
profession and how it relates to individuals in particular and society in
general. It will also be useful to state
the objectives of our study.
In this particular study,
1.
To asserstain the role and functions of accounting
profession in management and society
2.
To study the impact of accounting on society including
its significance to individual and society will be discussed.
3. To determine the extent to which
accounting generally affects the economic activities of the private and public
sectors in Nigeria.
4. to examine how managers adequately
and efficiently apply the role of accounting in their organizations.
Finally, we
shall discuss the features of the profession which includes the professional
quality of the accountant made possible through education standard established
and enforced by such profession legal
responsibilities and dedicated to services.
1.3 SIGNIFICANCE OF THE STUDY
In this study, the
researcher has set out to examine the role of accounting profession in the
society and as well in an organization mostly concerned with Zenith Bank Plc,
Aba with highlights of the inherent problems encountered in the accounting
departments of most organizations. It is expected that this work will be of
interest to the owners of business enterprises, the government and the public.
To shareholders, owners
of the enterprises, interested persons and the government, this study is expected
to kindly their interest the more and they will take note of various
recommendation mentioned here and help steer the management team towards
forming a sound accounting departments which would enable organizations to
present an accurate financial information of the firm.
This study will also help
to serve as literature to individuals or corporate bodies who want to carry out
further research on the role of accounting in the private and public sectors in
Nigeria.
1.4 RESEARCH QUESTIONS
1. Has accounting principles has any
control over public and private sectors in Nigeria economy?
2. What training method can improve the
manager’s skill, knowledge and experience such that high concentration will be
given to the accounting control in private and public sector?
3. what will be done so that there will
be perfect accountability in the accounting section of any organization?
4. what type of accounting standard or
technique will be applied to see to the maintenance of accuracy in the
accounting control of public and private sectors in Nigerian economy?
5. How will managers of the enterprises
are able to recognize the role of accounting in their sectors so that these
case of improper accountability will be minimized or eradicated.
1.5 SCOPE AND LIMITATION OF THE STUDY
The research topic suggests a study
on the Accounting profession and its role in the society in Nigeria. The scope
of this study will focus at Zenith Bank Plc, Aba .
1.6 DEFINITION OF TERMS
The following terms were used for the purpose of this study.
PUBLIC SECTOR
Is that sector of the economy established and operated by the
government or, its agencies, distinguishable from the private sector, and
organized on behalf of the whole citizens.
PRIVATE SECTOR
This is that sector of economy established and operated by
individual. Its agencies is totally different from public sector.
ACCOUNTING
Is the composite activity of collecting, analyzing,
recording, summarizing, reporting and interpreting the through financial
position or transaction of any organizations or government units.
OBLIVON
This is a state of forgetting or being quite forgotten, i.e.
to show that if any organization fail to give proper accountability of the
financial position it will then be forgotten.
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