THE EFFECTS OF FINANCIAL REPORT ON MANAGEMENT OF A BUSINESS ORGANISATION (A CASE STUDY OF BETA GLASS PLC, UGHELLI)

  • Chapters:5
  • Pages:49
  • Methodology:Simple Percentage
  • Reference:YES
  • Format:Microsoft Word
(Accounting)
THE EFFECTS OF FINANCIAL REPORT ON MANAGEMENT OF A BUSINESS ORGANISATION
(A CASE STUDY OF BETA GLASS PLC, UGHELLI)
ABSTRACT

This research work was design to identify the effect of financial report on the managers of a business organisation, using business organization in Isoko North Local Government Area of Delta State as a case study.  The main objective of the study is to identify the benefits of accounting information in the performance of a business entity.  A sample size of fifty (50) was chosen using an appropriate sampling technique.  The research questions were tested using the simple percentage statistical tool.  It was discovered that there is a significance relationship between efficient use of accounting information and overall performance of an organisation.  A business entity that wants to survive in a competitive environment should employ the services of well qualified and competent accountant to hand the financial aspect of the business.
  TABLE OF CONTENTS
CHAPTER ONE
Introduction                         
Background of the study                     
Statement of the study                         
Purpose of study                         
Research question                         
Significance of study                    
Scope of study                        
Limitation of study                        
Operational definition of terms             
CHAPTER TWO – Literature Review   
Introduction                             
Meaning of Accounting Terms                
Characteristics of Financial Report                
Constraining Quality                        
Basic Accounting Concept                
Limitation of Financial Report Analysis and Interpretation
Statement of Change in Financial Position        
CHAPTER THREE  - Research methodology
Introduction                            
Research design                         
Population of the study                            
Sampling size                             
Sampling procedures                            
Research instrument                         
Sources of Data                            
Data collection Method                        
Method of data analysis                     
CHAPTER FOUR - Presentation and data analysis
Introduction                            
Data Presentation and Analysis                 
Method of Data Analysis                    
Hypothesis Testing (Formula Used)            
CHAPTER FIVE – Summary, Conclusion and Recommendations
Summary                                  
Findings                                
Conclusion                                
Recommendations                            
References                                
Appendix                                 
Questionnaire                             
CHAPTER ONE
INTRODUCTION
Background of the Study
This chapter tends to explain the historical perspective of financial recording in an organisation.  The basic purpose of financial record is providing financial information about a business enterprise or any other economic activity.  Accounting and book-keeping sections are responsible for financial record of every business organisation.  Accounting is concerned with the measurement and communicating information in decision making, while book keeping records the business transaction in a systematic way such that the financial position of the business can be readily ascertain.
According to Emmanuel (2004), financial report is very useful to management and outsiders such as government agencies, bankers, investors, etc. for decision making.  An accounting system provide some account information such as:
Recording business event
Classification of the event into related groups.
Summarizing this information into accounting records.
Communicating the accounting information to in a form that will be meaningful to the user; hence accounting can be defined as the measurement and communication of information that aid decision making.
Accounting has been defined as a measurement and communication system that make economic and social information available for decision making.  The purpose of book –keeping and accounting is to provide information about business and non-business organisation which will help in making judgment about the organisation. The major purpose of book keeping in accounting is to keep accurate financial record.
According to Goddey (2000), financial accounting is an information system which had an effect on the management of any business whether the business is a company or sole proprietorship.  Though financial accounting information plays an important role within the organisation, yet some businesses has personally carryout their business without the use of such information aid as a result many of them have ended having business failure. One would like to know the effect of this financial accounting report on the management of business entry.  This is the focus problem of this research study.
Statement of the Problem
Financial report is to provide report to management, shareholders and the public.  It reveals to the owners of the business the position of the entry as at that date.
It has been observed that most organisation and public sector do not prepare financial report to the shareholders and for the public to see.  Hence, this research work is carried out in order to enlighten and educate the management and staff of both private and public organisation the need to always prepared their financial report.  This will help all the parties involved to know the financial state of the business.
The problem of report, or the effects of financial report on management of business organization is financial statement manipulation, which is an ever present problem for investors.
Financial statement manipulation is an ongoing problem in corporate America.  Although the Securities and Exchange Commission (SEC) has taken many steps to mitigate this type of corporate malfeasance, the structure of management incentives, the enormous latitude afforded by the Generally Accepted Accounting Principles (GAAP) and the ever present conflict of interest between the independent auditor and the corporate client continues to provide the perfect environment for such activity.  Due to these factor, investors who purchase individual stocks or bonds must be aware of the issues, warning signs and the tools that are at their disposal in order to mitigate the adverse implication of these problems.
Objectives of the Study
The objective of this study includes:
To determine factors that may pose constraints towards the efficient use of financial report.
To ascertain whether a company’s performance is related to effective and efficient use of financial report.
To ascertain if there is any relationship between effective financial report and the decision making.
Financial reporting should provide information that is useful to present and potential investors and creditors and other users in making rational investment, credit and similar decisions.  The information should be comprehensible to those who have a reasonable understanding of business and economic activities and are willing to study the information with reasonable diligence.
Financial reporting should provide information to the present and potential investors and other users to assess the amount, timing and uncertainty of prospective cash receipts.  Since investors and creditors cash flow are related to enterprise cash flows, financial reporting should provide information to help assess the accounts timing and uncertainty of prospective net cash inflows to the related enterprise.
Financial reporting should provide information about the economic resources of an enterprise, the claims to these resources (obligations), and the effects of transaction, events and circumstances that cause changes in resources and claims to those resources.  These sources are: direct or indirect, or future cash inflows and cash out flows.
Research Questions
Does the preparation of the financial report have any effect on the management of the organisation?
What are those benefits derived from financial reports?
What are the constraints against effective use of financial report?
Significance of the Study
The study will be useful to provide insight of how business organisation would be operated and control at the beginning of the accounting year.  It will also be useful to managers, shareholder, investors, bankers, civil servant and the public as a whole.
It is hoped that the result of this study will play a vital role in an understanding of the effects of financial reporting in an organization.  Such an understanding should conversely help in all who are concerned with financial reporting e.g the accountant.
Scope of the Study
The scope of the study is Isoko North Local Government Area is located at latitude 50 and 60 30 north and longitude 50 and 60 45E.  
Information needed for this study was obtained from Beta Glass Plc, Ughelli along Warri Road.
Limitation of the Study
The study was carried within the limit imposed by time and financial constraints. As a result of this, the study was limited to the effect of financial report on the management of a business.
A voluminous work would have resulted to the research included all aspect (branches) of accounting information, cost accounting, auditing, etc hence this would have caused a financial constraint on the researcher.
Definition of Terms
Accounting and Book-Keeping System:- The process of planning, keeping, analyzing and interpreting financial records.
Business Entity:-  Any economic unit which enters into business transaction.
Management:- The act of getting things done through people.
Information:- Data processed in a form that is meaningful to the users.
Profit Organisation:-  Making the highest amount of profit given the available resources.

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Project Details

Department Accounting
Project ID ACC0659
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 49 Pages
Methodology Simple Percentage
Reference YES
Format Microsoft Word

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    Project Details

    Department Accounting
    Project ID ACC0659
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 49 Pages
    Methodology Simple Percentage
    Reference YES
    Format Microsoft Word

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