Public Sector Accounting In Nigeria (A Case Study Of Financial Control System In Enugu South Local Government Area)
ABSTRACT: One of the most researched and least understood variables of public sector accounting is how the accountability and stewardship of financial control is conducted. People have been speculating on how the funds generated are managed but now researchers have conducted systematic investigation of funds and leakage in local government revenue system. Even with this, there is still an increasing difficulty and doubts in establishing the fact that the revenue generated are put in good use. There is also an evaluation of the source of revenue to the local government, and the impact of financial control system in the local government revenue system particularly the revenue collection points where all derivable revenues are kept for safe custody. Secondly, to find out if really there is grant from the federal and state government to the local government areas and how it’s being spent. Finally to know the reason, the local government cannot employ their resources in funding projects. Findings and recommendations have gone a long way to establish proper financial control system in local government and it’s improvement.
The following findings we made
- The findings researcher was able to find out that there is enough evidence to show that there is grant form the federal and state government to the local government.
- That they are inadequate financial control system in the local government area.
- That accountability and stewardship of the generated revenue is totally inadequate.
The following recommendations were made:
- The grant given to the local government should be looked into.
- The federal and state government should regulated the actions of the local government
- The revenue leakage of the local government should be checked.
- A committee should be set up to control the accounting system.
- The local government should take effective planning cost control measures and product management of their resources.
TABLE OF CONTENTS
CHAPTER ONE
- Introduction                                                                  1
- Purpose of the study                                           9
- Significance of the study                                               10
- Statement of the problems                                  12
- Hypotheses formulation                                               14
- Scope and limitation                                           14
- Definition of terms                                                        15
Reference                                                                                17
CHAPTER TWO
2.0 Review Of Related Literature                       18
- Definition                                                                      20
- Budget                                                                          21
- Financial Regulations                                         22
- Cash Accounting                                                 23
- Local Government Reform                                  23
- Local government accounting functions              26
- Sources of revenue to the local government    30
- Rural development functions                               32
Reference                                                                         34
CHAPTER THREE
3.0    Research Design & Methodology                        35
- Research design                                                   35
- Area of study                                                                36
- Population                                                          36
- Sample and sampling procedure                         37
- Sources of data                                                   39
- Interview method                                       40
- Questionnaire method                               41
- Procedure for data analysis.                                42
Reference                                                                      43
CHAPTER FOUR
4.0    Presentation and Analysis of Data                      44
- Presentation of data                                            44
- General data                                                                 44-68
- Test of hypothesis                                                        69
- Analysis of survey results                                            73
Reference                                                                                74