ACCOUNTING INFORMATION AS A TOOL FOR DECISION MAKING IN BUSINESS

  • Type: Project
  • Department: Accounting
  • Project ID: ACC1118
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  • Chapters: 5 Chapters
  • Pages: 65 Pages
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ABSTRACT

This work is an attempt ot re-emphasize the role of accounting information in ensuring good decision of business organizations. In this work, accounting information is seen as the only means by whicich the amagement of any business organization could communicate to its staff, debtors, creditors, government and infact, the general public about its operation successes and failure properly packed, the accounting information of a business speaks volumes of the avaibility or other wise of the business. specifically, this work ex-rays the extent to which business organizations make use of accounting information in achieving the objective of good management direction and control. All the accountants, managers, and some other staff in decision making position in business organization of this study. A total of 23 accountants, managers and members of management were randomly selected from three companies in PortHarcourt – River state.

This work notes that inspire of the importance of accounting information to business organization, companies make little or no good use of it. I should encourage the use of accurate, timely and capable financial data to generate good accounting information adequate enough to be used in a basis for day to day and periodic business decision. This is necessary not only to sale their organization from collapse but to help our economy to grow

TABLE OF CONTENTS

Title page

Approval page………………………………………………………..………i

Dedication ……………………………………………………………..……ii

Acknowledgement………………………………………….………………iii

Abstract………………………………………………………..……………iv

Table of contents……………………………………………………….……v

CHAPTER ONE: Introduction

1.1            Background of the study ………………………………………..……1

1.2            Statement of problem…………………………………………………3

1.3            Objective of the study………………………………………3

1.4            Research Questions…………………………………………...………4

1.5            Significance of the study……………………………………...………6

1.6            Scope of the study………………………………………………….…7

1.7            Definition of terms ………………………………………8

CHAPTER TWO:

2.0Introduction …………………………………………………………12

2.1     What is accounting ……………………………….………12

2.2     Objective of accounting ………………..…………14

2.3     Business objective & management function ……..………14

2.4     Application of accounting  in decision making planning and control. ………15

2.5     The scope and users of accounting  information ……...……………17

CHAPTER  THREE:

3.0     Introduction ………………………………….……….35

3.1     Research  Design…………………………………………………….35

3.2     Population of the study………………………………...……………36

3.3     Sample and sampling techniques …………………………...………36

3.4     Sources of data

3.5     Method of data collection ……………………………...………36

3.6     Validation of the instruments.………………………….…………37

3.7     Distributed and retrival of the instruments………………...………38

3.8     Method of data Analysis ……………………………...…………….39

CHAPTER FOUR:

4.1     Introduction

4.2     Data presentation and Analysis ……………………………………..40

4.3     Finding  …………………………………………………..50

CHAPTER  FIVE:

5.0     Summary,  Conclusion And Recommendation ………………….….54

5.1            Summary of the Findings ………………………………...…………54

5.2            Conclusion ……………………………………...…………54

5.3            Recommendation ………………………………………..…56

References……………………………………..………57

Appendix A ………………………………………….……...59

Appendix B……………………….………………….……...60

Questionnaires …………………………………….……..61

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY:

The Board of Internal Revenue, Enugu in Enugu state has its origin back to the era of our colonial masters in Nigeria being establish along side other government agencies. As internal Revenue, a division of the ministry of finance in the then Eastern Nigeria, the aim was to generate revenue to enhance the execution of her mapped out programmes. The Board of internal Revenue was established as an autonomous government agency charged with the sole responsibility of tax administration with the jurisdiction of the then Eastern Nigeria. This took effect in 1960 after the independence followed by much demanding and expanding responsibilities.

It therefore, has undergone and served various governments since its inception such like Eastern Nigeria, East central state, Anambra state and to its present state as one of the leading and autonomous viable extra-ministerial department of Enugu state government. Policies are formulated and implemented just for the better welfare of the people by the government either in national, state or local levels. therefore at different levels the government has various organs by which it executes their policies for the interest of its subjects. Among these organization especially in Enugu State is the Board of internal Revenue, Enugu.

It is through that there were such changes in government and the ones arising from even successive governed especially on those government organs yet, there is that constance in the duties and responsibilities of the said Board in Enugu as the main organ charged  with the generation of revenue for the government the execution of her programmes.

With due consideration, therefore as to the objective and with particular reference towards achieving the goal of the Board of internal Revenue, Enugu as an organization. There must be an effective and efficient tax administration with in and outside state on behalf of the government. A summarized break down of the objectives of the organization goes thus:

-                     To assess personal income tax on persons and enterprises other than that of limited liability companies.

-                     Taxes is to be collected on behalf of the state under the following divisions:

a)                Personal Income tax

b)                Entertainment tax

c)                 Pay as you earn

d)               Road tax

e)                 Social function tax

f)                  With holding taxes on contracs, rents, dividends, director’s fees and professional fees etc.

-                     To advice government on tax matters.

-                     To render proper account of the revenue collected on behalf of the state.

-                     To formulate tax policies in liaising with the joint board.

-                     To prepare annual revenue estimate.

-                     To liaise with federal Board of Internal Revenue for the state share of value Added Tax (VAT)

-                     To prepare and render weekly, monthly and annual revenue returns.

-                     To issue and validate tax clearance certificate.

-                     To investigate and obtain information for tax purposes etc.

The Board with its present organizational structure has the director of internal Revenue as the Chief executive and Accounting officer. The position of the director of internal revenue through mandatorily as occupied by a career officer, yet has the status of director general by federal government directive.

          In accordance with Decree 43 of 1983 (now abrogated) the Board now has three main service department namely: personnel management department with sole responsibility for all personnel functions; finance and supplies department directly incharge of all matters concerning finance and supplies; and the planning, research and statistics department-which is incharge of planning and other related matters. Others are the line department which carryout the duties with which the Board is identified / established. These department include Assessment Department. It shoulders all matters related to tax assessment. Then the collection department which is entirely responsible for tax collection form all sources; the investigation and information procurement department whose duty is to investigate and procure information for tax purposes. Then to enhance a grassroots and effective execution of its due responsibilities, there are three special zonal officers married by zonal tax authorities re-established by the Board with in the state namely zonal tax authorities, Enugu zone, Nsukka zone and Abakaliki zone (in the present Ebonyi state capital). They are responsible for tax assessment and collection form all local government motor licensing and tax offices with their zonal being directly responsible to the director of internal revenue as it affect all tax activities in their different zones, they collect and render weekly, monthly and annual returns as at when due.

The motor licensing offices are controlled by the motor licensing offices authorities while the executive secretaries to assessment authorities control the local governed tax office. The life wire of the Board of internal revenue activities within the present Enugu state comprises the zonela and local government tax and motor licensing offices.

          Below is a diagram of organizsational structure of Borad of internal REvenue, Enugu to expantiate more as ot the above:

ORGANISATIONAL STRUCTURE OF BOARD OF INTERNAL REVENUE

DIAGRAM

1.2     STATEMENT OF THE PROBLEM

Almost all activities are generally and basically determined and are being carried out by actors (persons) that maku up such public sector. Lmachinery, materials and money (structures) together iwht time can be unproductive without human efforts and directions human manpower, simply every aspect of the activities of any or all public sector is determined by the competence and general effectiveness of its available human resources.

          I therefore, maintain that both the behaviour and attitude ot work by the employees of any said public sector are often associated with or influenced by level of motivation and other factors available in such establishment such employee motivation includes:

a)      Clealry defined schedule of duties

b)      Reward for effectiveness / over time claim

c)       Conductive working environment

d)      Hazard allowance

e)       Adeqauate information

f)       Opporltunities for improvement – Training etc.

g)      Adequate supply of working tools

h)      Transportation – travel allowance

i)       Health / welfare service (canteen, hospital, sick / maternity leave

j)        Confidence and trust

k)      Adequate recognition and protection

L)      Accommodation

M)     Reward for sacrifice

n)      pre-retirement attention / pre-briefing

o)      Equity and fairness

          these and other employee motivation factors plays a vital role (positive effect) in the performance and effectiveness of the staff in any public sector. Therefore the level with which these motivating factors are provided especially to public sector offers some remedy for comparison in terms of genral performance between two organizations that perform similar functions e.g (union bank and Afri bank)

1.3     PURPOSE OF THE STUDY

This little work is hereby deigned to contribute to the issue of employee motivation as it affects the public sector, its workers to enable them put in their best performance in the immediate existing task of nation building towards the imporvemnt of our economy. This sole desire and hopelessness into which the employee motivation especially in publc sectors has been place. This resulting from the unstable policy, economy and its inflationary trend.

          The study therefore is aimed ot identify those factors that motivate employee in the public sector and their impact on job performance. it is basically directed toward identify those motivating factors which are lacking in the board of internal rEvenue Enugu. Analysis would be made on their general implicsation and suggest possible solution on how best an employee should be motivated in order to effect an improved job performance especaily in the public sector.

1.4     SIGNIFICANCE OF THE STUDY

This study of under taken to emphasize the necessity of employee motivation I public sectors which are service oriented establishment with set objectives to achieve lack of such factor and hence motivation shall obviously lead ot how performance among workers and eventually to non-realizaiton of the set goal of the establishment.

          It will offer possible solution as ot how employee can be motivated in order to enhance job performance.

1.5     RESEARCH QUESTIONS

It will be necessary to examine the following question.

i)                  Can you identify the time / duration spent by employees in the Board of internal Revenue, Enugu state.

ii)               Do you think that the employees of the Board of Internal Revenue performed at optimum level? yes / No

iii)            From the question above, if you answer is yes please could you mention some of he factors where you based your opinion.

iv)             Is there over-staffing in the Board of Internal revenue Enugu state, which may prevent the government from motivating them accordingly.

1.6            SCOPE / DELIMITATION OF THE STUDY

This study is focused on those factors which affect the motivation of employees in the public sector, with particular reference to the workers of the Board of Internal Revenue Enugu state.

1.7     DEFINITION OF TERMS

For the purposes of clarification and proper under standing of this work, several concepts and term used here with, to an extent be defined as follows:

1.7-1 EMPLOYEES:    This refers to all the worker employed and

working in an organization / establishment.

1.7-2 MOTIVATION: Is a general term applying to he entire class of

drives, desire need wished and similar forces. This reflects wants, hey are the identified rewards or incentives that sharpen the drive to satisfy these wants. It also the menas by which conflicting needs may be recociled or one need hightened so that it will be given priority over another that conscious effort made to induce a positive attitude of a person or group of persons toward something.

1.7-3 SATISFACTION:  Refers to the contentment experienced when

a ant is satisfied. It is the out come already experienced.

1.7-4 PUBLIC SECTOR: It is there establishments set up and is controlled

by either the government by private individuals. A field of activity especially of business trade etc solely designed to serve the public.

1.7-5 GOAL:                This refers to the objective or target set for

achievement or realization by an organization.

1.7-6 CONDITION OF SERVICE: This is he stipulation of a number of

incentives aimed at attracting he right calibra of employees as well as inducing the worker to produce salary. Housing allowance, pension, leave allowance, free insurance vehicle loan and free medical etc.

1.7-6 PRODUCTIVITY:      It refers to the workers out put per annual,

hour or performance in relation to his work. 

ACCOUNTING INFORMATION AS A TOOL FOR DECISION MAKING IN BUSINESS
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

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  • Type: Project
  • Department: Accounting
  • Project ID: ACC1118
  • Access Fee: ₦5,000 ($14)
  • Chapters: 5 Chapters
  • Pages: 65 Pages
  • Format: Microsoft Word
  • Views: 1K
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    Details

    Type Project
    Department Accounting
    Project ID ACC1118
    Fee ₦5,000 ($14)
    Chapters 5 Chapters
    No of Pages 65 Pages
    Format Microsoft Word

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