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THE IMPACT OF ACCOUNTING ON ORGANIZATION EFFECTIVENESS A CASE STUDY OF THE FEDERAL PAY OFFICE
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Delivery: Within 24 hoursTHE IMPACT OF ACCOUNTING ON ORGANIZATION EFFECTIVENESS A CASE STUDY OF THE FEDERAL PAY OFFICE
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The management and control of the public fund is the heart of government administration. This calls for the need for an acceptable accounting system that will comprehensively prefer solution to the accounting needs of the government on public funds is governed by the financial (control and management). Act of 1958 A to E into section 154, dealing with the operation of the consideration Amendment of 1957 which inserted sub –154 A to E into section 154, dealing operation of the constrained therein formed the based of the financial Act which were replicated with slight changes in the 1979 and 1989 constitution, Higher to , government accounting is regulated by section 129 –145 of the constitution, the laws enacted by government in power, the financial control and management Act 1958, by decree and acts enacted from time to time.
The management and control of the public fund is invested on the federal ministry of finance and this rests on the shoulders of the Treasury now referred to as the office of the Accountant General.
In the treasury its self, functions and duties are streamlined to a set of guide. This is because government accounting is based strictly on cash”.
The expenditure and receipts for the year are balanced and closed for the year and there is no transfer to the next period.
The financial regulation, treasury accounting manual, and regulation. That guide the treasury in the management and control of the public find of the government whose objective is service.
This study is directed to a division of the treasury the federal pay office, Enugu. It will be concerned mainly with the duties and functions of the office, the effectiveness of the accounting as it relates to the goals of the Government which is service. The study will also determine to what extent the principles, rules and regulation governing. The government accounting system is being utilized and its effect on the general public.
The federal pay office, Enugu which is the main focus of this work has the following as its main general duties:
i. receiving and payment of cash.
ii. Keeping of cash book to record all the cash transaction.
iii. Operation of a bank account on which cheques are drawn.
iv. Providing information on the cash position at a given date.
Effectiveness of these duties are enhanced through the establishment of internal check system in its operation to minimize fraud and loss of funds.
The federal pay officer is the head of this office. Going by the provision of financial regulation (ff) section 104 (II), the officer “ is entrusted with the receipts, custody and disbursement of public money and is required to keep one of the recognized cash books, the transaction in which are subsequence embodies in the accounts rendered by the accountant – general of the federation”.
1.2 STATEMENT OF THE PROBLEM
The issue of inept accountants handling the organization's accounting processes has become an issue of immediate alacrity. Second, there is the issue of inept auditors who are responsible for auditing the organization's financial statements. Also, there is the issue of human bad attitudinal inclinations such as dishonesty, unreliability, and fraud, which all impede the successful implementation of excellent accounting procedures. More specifically, the issue of insufficiently specified organization efficient and timely accounting procedures which need to be looked into.
Finally, there is the issue of non-futuristic accounting records as a result of changes in inflationary and deflationary rates and monetary policies.
1.3 OBJECTIVE OF THE STUDY
The objectives of the study are to;
1. Examine the role of accountants in ensuring accountability of public fund.
2. Examine the extent to which relevant accounting officers adhere to the laid down accounting principles.
3. Investigate if the authorities entrusted with fund disbarment comply with the financial regulations.
1.4 RESEARCH HYPOTHESIS
H0: Accounting officers do not adhere to accounting principles.
H1: Accounting officers adhere to the accounting principles.
H0: Accountants play no significant role in ensuring accountability of public fund.
H2: Accountants play a significant role in ensuring accountability of public fund.
1.5 SIGNIFICANCE OF THE STUDY
This study will be significant as it has exposed the modern organization to competent accounting practices. It has also created room for individuals to adopt good accounting policies for proper income management
The study has also shown that no organization can attain high profit level without effective accounting operations. The research work also serves as the basis for showcasing the various deficiencies in the accounting practices of the Federal Pay Office. It has helped to educate the managers of small and medium organizations on the need to adopt accounting practices for sustainable performance in the industrial environment.
1.6 SCOPE OF THE STUDY
The scope of this research work is the impact of accounting on organization effectiveness. The recent research conducted in our case study as regards this research topic, reveals that it has the features to discuss the above topic extensively.
1.7 LIMITATION OF THE STUDY
During the course of this study, the researcher was faced with time constraints which prevented the researcher from delving deeper into this study.
1.8 DEFINITION OF TERMS
1. ACCOUNTING: This is the function of keeping the financial records of an organization.
2. ORGANIZATION EFFECTIVENESS: Organizational effectiveness is the concept of how effective an organization is in achieving the outcomes the organization intends to produce.
Tags: Project Topics iproject Accounting Organisation effectiveness federal administration pay office
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