THE IMPACT OF EFFECTIVE PUBLIC SECTOR ACCOUNTING ON PUBLIC FUNDS MANAGEMENT IN NIGERIA

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THE IMPACT OF EFFECTIVE PUBLIC SECTOR ACCOUNTING ON PUBLIC FUNDS MANAGEMENT IN NIGERIA

Abstract

This study has been carried out critically analysis and the impact of effective public sector accounting on public fund management in Nigeria. This project work was necessitated by the way government play in the development of the grassroots socially, economically and politically. In so doing, the researcher used both primary and secondary method in collecting government council. Both questionnaire and interview method were used while other data were collected from textbooks, journals and magazines of related literatures to government accounting in Nigeria government. However, from the result of the finding and conclusion, it was observed by the research that the accounting system of government fell short of being effective. As a result of this government has been caught in the cobweb of inadequate function and powers, inadequate finance, low administration, inefficiency and poor budgetary control. In spite of that the researcher did make some reaching and clear recommendation, which if adopted will greatly solves some of these problems in the government council.

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Nigeria as a nation consist of three level of government that have interest in the public sector accounting, therefore, the status and power of these government are dearly defined by the constitution of the federal republic of Nigeria. Included in the government is federal, state and local government. The local government is regarded as the thired tier of the aforementioned level of government and it is essential in the development process of any country like Nigeria. This entail such as provision of social welfare services, provision of community mobilization, maintenance of local markets and roads etc. Okhaide (2001) opined that the united nation office for public administration (UNOPA) defined local government as a political subdivision of a nation or (in a federal system) state which is constituted by law and its substantial control of local affairs including the power to oppose, take and to employ labour for prescribed purpose. The state government has a considerable power over their local government council. The financial regulation in which the local government applies in the preparation and presentation of their account are formulated by the relevant statues.

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THE IMPACT OF EFFECTIVE PUBLIC SECTOR ACCOUNTING ON PUBLIC FUNDS MANAGEMENT IN NIGERIA

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