TABLE OF CONTENT
1.1 BACKGROUND OF THE STUDY
1.2 PURPOSE OF THE STUDY
1.3 SIGNIFICANCE OF THE STUDY
1.4 STATEMENT OF THE PROBLEM
1.5 HYPOTHESIS FORMULATION
1.6 SCOPE AND LIMITATION OF THE STUDY
1.7 DEFINITION OF TERMS
2.0 Review of related literature
2.2 The role of accounting in
government and control of public enterprises.
2.3 Analysis and interpretation of
2.4 Budget and budgetary control
2.5 Management and control of public
2.6 Public enterprises and
2.7 Public enterprises and subsidies
2.8 Waste of public resources
2.9 Accountability and social
3.1 Method of data collection
3.2 Sample & Sampling
3.3 Questionnaire administration
3.4 Treatment of data for analysis
4.0 Presentation and analysis of date
4.3 Test of Hypothesis/Interpretation
5.0 Summary of findings conclusions
1.1 Background of the study.
The basic economic problem that
confronts an under developed or a developing
country and especially the new independent ones is how to attain within
a relatively short period, a notable increase in the rate of economic growth
which is envisaged will bring it to the level of perpetual real income
comparable to those of more admired economics of the world. In order to attain
this oval, the country would have to ;
1.provide those basic government
services especially in education, public health and transport. These services
will serve as fertile soil to advancing the nation’s economy.
2. Stimulate a higher rate of capital formation in production facilities
either in government or private sectors. The first accomplishment requires
transportation on needed factors or resources to the governmental ;sector of
the economy for the production of those services or facilities required by the
entire populace.. The second accomplishment required transfer of resources to
capital formation either strictly in the private sector or through the
These resources may come from
a. outside the control
b. present use for consumption
c. present use in production of
capital of or types regarded as not contributing to economit growth.
d. Idle or partially idle resources
primarily manpower. The above four sources off varying opportunity growth and
it actually does it only by transfer existing resources to the appropriate
quarter and profitable application of these to production attains within that
relatively short period a level of standard of living comparable to those
of other more advanced countries of the
Accounting come in as the tool
that measures the profitability/viability a project with an economic system.
Glanlier (1976) defines
accounting as the systematic collection, summarization, and analysis and
reporting of data in a form suitable and under stable to prospective users.
Generally, it involves some other
related discipline as budgetary control taxation, cost and management
accounting, financial management, auditing and quantitative techniques.
development project entails projection into the future, it is essential that
public officers ;and employees in the private sector appreciat the need a
transaction and necessary statistics as to enable the proper ;evaluation of
past. Records with what obtains presently in order to reasonably project into
the future. Some of the practical ways
in which accounting can be and is known to have been used not only for a
decision making but also importantly to achieve desired results include.
1. Ecnomic planning
5. Accounting for social purposes.
Accounting records provide information that may be
used within the business and which may be relied on by businessmen while making
investment decision. The problem with
most potential investors in the development nations is they are mostly
illiterates and therefore required the services of any accountant and financial
analyst to help access possible areas of investment. Budget implementation is
another vital area where accounting knowledge is essential.
Most budgets are stated in accounting formula and
their implementation will require that knowledge that will enable officials
read the budget as it affects their
sector and even reflect on how other sectoral outlay may affect them. It is due to the perennial lags in our civil
service that the researcher decided to carry out an investigation into what are
likely lags in the wheel program or growth of the civil service and thereby the
nation. The private sector employees are
also caught in this lapses but however,
there seems to be more commitment on their part due to obvious reasons of
ownership and direct supervision by entrepreneurs. The proper functioning of financial system of
a company determines to a good extent the viability of her economic
structure. That is why the researcher
decided to show sets of accounts viz (profit and loss acco9unt and value added statement) from unpetrol Nigeria
PLC Annual Report and Account 1999. This
financial statements help users of such statements ascertain the viability of
the company and it is prepared by chartered Accountant.
of the study
The purpose of this project is aimed at identifying.
-The role of an accountant in planning
The role of an accountant in government accounting.
- The role of an accountant in controlling public expenditure.
- The duties of an accountant in management and control of public
of the study
The study which is an attempt to diagnose the accounting system in a developing economy
is of immense importance to;
Future Researchers/The Researcher;]
This will serve as a secondary data to future researchers who intends to
carry on research on accounting role in
Nation Development. It will also help
students in the school of financial studies in having an in-depth knowledge of
will enable the researcher know more about the role of an accountant in
government accounting and where there are lapsed or breakdown in management and
control of public concerns, appropriate suggestions are made to the management.
1.4 Statement of the problem. The
problem of this research as contained in the introduction is whether the
accountant has major role to play in national development.
1.5 Hypothesis formulation . For the
purpose of direction and charity of
issues raised in this study, the hypothesis formulated are;
a. Accountant has a major role to play in national
b. Accountant has no major role to
play in national development.
1.6 Scope and Limitations of the
study. This project will cover some vital aspect of an accountant’s role in
government accounting and control of public expenditure analysis and
interpretations of financial statements, budgetary control, management and
control of public concerns in developing economy. It will also show a company’s financial
statement prepared by an accountant. In
carrying out this research, some obvious limiting factors are encountered.
There are reviewed below.
-Time fact; The time available to carry out this
research and compling of its report is rather very short. Infoact, one has to attend lectures as well
as face the research work thereby, the attention required for this work had to
Attitude of the people; The uncooperative attitude of the people
interviewed was very demoralizing.
-Most of the people were unwilling to give out necessary answers for
effective completion of this work because of fear of victimization.
1.7 Definition of terms. Accounting ;
American accounting association committee define accounting as ‘ The process of
identifying, measuring and communicating economic information to permit
informed judgment and decision by users of the information.
PRIVATE COMPNAY; J. C. Odike in managerial economics
for Nigerian Polytechnics II(2200) is a limited liability company owned by the
minimum of 2 shareholders and previously a maximum of 50 persons but now in
Nigeria, a maximum of 100.
Iabilities of shareholders are limited to just their
shares in the company (paid up and unpaid) if the business goes bankrupt.
BUDGET; A budget according to chartered institute of
accountants is ‘ a plan quantified in monetary term, prepared and approved
prior to a defined period of time, usually showing planned inform to be
generated and or expenditure to be incurred during that period and the capital
to be employed to attain a given objective’
INTERNAL CONTROL; According to Horngren (1982)
INTERNAL control is the set of accounting and administrative controls and
practices that helps ensure that approved and appropriate decisions are made in
PUBLIC COMPANY J. C. ODIKE in managerial economics
for Nigerian polytechnics II (200) is a limited liability corporate body with
previous minimum of shareholders but now in Nigeria a minimum of 2 since the
1990 companies and Allied matters Decree (CAMD) there is no minimum of
According to Haper (1974)
budgetary control can defined as the establishment of budget relating the
responsibilities of executives to the requirements of a policy, and continuous
comparison of actual with budgeted.
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