KWARA STATE UNIVERSITY, MALETE. NIGERIA.
SCHOOL OF POST GRADUATE STUDIES (SPGS).
ACCOUNTING SYSTEM IN PUBLIC SECTOR IN NIGER STATE.
A CASE STUDY OF BORGU LOCAL GOVERNMENT COUNCIL,
NEW BUSSA, NIGER STATE.
ACC 803 RESEARCH METHODOLOGY
PRESENTED BY AHMAD ISHAQ IMAM
MATRIC NUMBER: 22/27MAC/015
DEPARTMENT OF ACCOUNTING AND FINANCE.
FACULTY OF MANAGEMENT AND SOCIAL SCIENCES
KWARA STATE UNIVERSITY, MALETE.
LECTURER: PROF. ADEYEMI
(i)
INTRODUCTION
Public sector accounting could be defined as a process of recording,
communicating, summarizing, analyzing and interpreting government
financial statement in aggregate and in details. Reflecting all levels of
transactions involving the receipts, custody and disbursement of
government funds.
The analysis of the above definition depicts that it could be likened to the
accepted definition of financial accounting. It therefore follows that
government accounting is essentially financial accounting. After all
accounting is accounting, whether in government or private, limited
liabilities companies. The essential fact is to record all historical cost and
income which process further, became useful information necessary for
future decision making.
(ii)
STATEMENT OF PROBLEM
In societies around the world, account is acknowledged to be those
activities concern with the systematic recording, arranging, computing
and updating details relating to business transactions. To be effective,
accounting needs to be systematized, dynamic and directly integrated, so
that the information produced assists in effective planning, control and
decision making.
The effective implementation of accounts has always been a cause for
concern, as its conformity with what is called ‘‘Generally Acceptable
Accounting Principle’’ (GAAP) and regulations laid down from time to
time by the government are the target standard.
The present financial management and accounting skills of the local
governments cannot cope with accounting procedures to produce
information for use in management functions. Any attempt contrary to
GAAP and regulations laid down by government is bound to be
misleading. So, years were raised that at the standard principles and
regulations of accounting might be threatened in the future.
(iii)
METHODOLOGY
METHOD OF DATA COLLECTION.
The methods used in data collection are viz:
(1) PERSONAL INTERVIEW: An interview in a conversation held
with a person whose views are being sought on a certain subject. This
entails asking the subject matter and receiving answers for the
questions as well as ideas and opinions.
(2) DOCUMENTARY INVESTIGATION: This involved the study of
accounting documents, past and present ones to give insight of
different types of accounts in operation and the analysis and
classifications transactions involved.
(3) PERSONAL OBSERVATIONS AND PROCEDURES: This
denotes the perception one gives to certain trends regarding the
activities of an organization. The writer having been familiarized with
the system of operations and procedures added to the references to
some publications on local government accounting system. This was
made to confirm whether what is been practiced confirms to GAAP,
other accounting conventions and regulations laid down by the
government.