Evaluation Of The Effective Uses Of Accounting Information To Improve Organization Performance

1.0 Introduction

The elevation of public parastatable in Nigeria and their importance in providing social amenities cannot be overemphasized.

Therefore over a period of (30) thirty year these had been tremendous change in organization management and output of various organization effected by enacting Acts, edits and decrees.

However, the efficiency and effectiveness of theses parastatals depend on: Availability of fund: there must be enough capital for any organization for running of their account.

FOR EFFICIENT MANAGEMENT OF THE ORGANIZATION: There must be full efficient on the government.

ACCOUNTABILITY In RESPECT OF REVEUNE INCOME: There must be correct and presentable statement of account in any organization.

SOUNDNESS OF THE ACCOUNTING SYSTEM: There must be sound and correct accounting system. Availability of periodical finance report as management tools.

OVER ALL INTERNAL CONTROL SYSTEM: There must be corrects and planned internal control system by their auditor. Accounting can be describe as the science or acts of identifying recording, measuring and reporting of financial information. In other words accounting is a system which garther information for the purpose of recording and measuring economic events which take place in business.

An accounting is therefore, concern with the provision and interpretation of financial information by analysis and interpreting. This information those in control of business organization are able to base the decision on realistic accounting data rather team on institution.

Basic Question that Intends to Examine

What accounting policy is been put in place by your company?

Does accounting system computerized for easy and government administration?

Which mode of payment do your customer adopt in setting their bills?

Why do the customer prefers to pay through banks?

What is the level of independence of the internal audit?

How often do your organization make report to appropriate authorities?

What is the relationship between the internal auditor and external auditor as it relates to humbling of NITEL Bank account?

The study of accounting may be divided unit two parts.

The bank keeping aspect which deals with the actual recording of business transaction these aspect deals with procedural matters.

The use analysis, interpretation and reporting of such records, that is relation financial result to the events which created them and framing the financial policy of firms.

Basic accounting equation; financial accounting is based on the equation.

CAPITAL = ASSET - LIABILITIES

1.1 The Purpose of the Study

We have observed the rate at which fraud been perpetrated in either written or outside the parastatals and tried to imagine what is wrong with the accounting system and the overall internal control system.

Fraud is an internal misrepresentation of financial statement by one or more person among management, employee or third party or irregularities including the use of criminal deception to obtain an just or illegal advantages.

Fraud can be caused by:

Misappropriation or embezzlement cash and goods

Manipulation and falsification or accounts with an intent to defraud

Recording of transaction without substance

1.2 Aims and Objective of the Study

The purpose of this project is to look in to existing standard and system of accounting including reporting as an appraisal to ensure sound internal control system and combat the menace of fraud on one uniform accounting system backed up by reliable reporting standard on the other hand.

1.3 Research Methodology of the Study

Research design is the basis plan which guide the data collected analysis phases of the research project. It is the framework which specified the type of data collection procedures in addition if the research design is collect, it will make sure that the information gathered is consistent with the objective of the study and the data are collected by accurate and moral procedure.

Moreover, the underlying principle that guide the conduct of this project was stated under the method of data collection. In the study, the ground theory I approach was adopted the school of through in favour of the approach is of opinion that the knowledge sough in any research is located in the data. Therefore, the work combined with prior set of research question.

1.4 Scope and Limitation of the Study

This project centres mostly on accounting system with special attention to credit in respect of income generative and collection in order really detect how exactly fraud is being perpetrated, some key addressed to them some times to avoid questions.

1.5 Statement of Problems of the Study

The adequate and effectiveness of parastatals accounting system as a tool for management in its decision making processes the debt collection through a sound credit control system and internal control system liability to a particular fraud and that would be areas of focus, while making NITEL Plc case stud.

Significant Of The Study

We have observed the rate at which fraud being perpetrated earlier within or outside the organization and tried to imagine what is wrong with the accounting system and the overall internal control system.

Fraud is an internal misrepresentation of financial statement by one or more persons among management, employees person among management employees or their party or irregularities involving the use of criminal deception to obtain on just or illegal advantages.

1.6 Plan of the Study

This project is plan and arranged in to five (5) chapters.

Chapter one consists of introduction of the study, scope and limitation of the study, methodology of the study and plan of the study

Chapter two consist of literature review, Definition, user of financial accounting, finding and Revenue generation.

Chapter three consist of methodology and research design, data collection and Administration.

Chapter four consist of analysis and observation, of interview with workers.

Finally, Chapter five consist of summary, conclusion and recommendations, appendix and bibliography.

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