ABSTRACT

Alternatively, organization may put the responsibility of store accountability on individual stock keeper or manager for the stock held in their charge.
As a result of this, most organization rely on them to control store accounting. Stores accounting and safety is one of the important areas of concern in stores management as a result of the need to protect the company’s huge investment is stock. All goods must have value to a company else they should not have been in stock.
According to Morrison (1967:9) if stock is to be adequately safe-guard, it must be properly located in secure building or stock yards to which unauthorized must be made for the custody of store house keys and accounting precautions exercised during non working hours to ensure maximum accounting. Data (1986 :17) states that “ materials must be properly safe-guard and kept under proper accounting and vigilance.

CHAPTER ONE

1.0 INTRODUCTION
Accounting has been identified as one of the most important activities carried out in any organization. This is because materials is the life blood of an industry.
Materials constitute money and have been bought to meet certain needs, in order to ensure that these materials meet the needs for which they were bought and to avoid unnecessary cash loss arising from losing of materials due to ineffective accounting which therefore, affect the profit margin of the organization with this development every organization has realized the need to invest in accounting. This is so for any profit oriented organization.

1.1 BACKGROUND OF THE STUDY
Accounting is one of the most important aspect of store management. Accounting of stores in a broad sense covers not only theft and fraud but it extends to areas of stock deterioration , damage location and special storage requirement. Organization may decide to seek the services of professional accounting outfit that supply a trained team of accounting guards and other personnel to guard against theft.
However, he recommend that the effort time and expenditure of money should be proportionate and relative to the importance of the materials and that of accounting must be commensurate with the benefits which may occur from accounting measures.
The role of store accounting is very important which according to carter and price (1993:10) reflect both the value of stock and its operational role within the organization. They added that stock record becomes meaningless as a means of stock control if stock is lost and not recorded. The calculated level of stock indicated by the stock card will bear no resemblance to the actual stock hold. Production operation will highly be hampered if the stores accounting functions are not properly and effectively carried out. The basis store accounting function is that of holding stock thus the need for proper stock control becomes imperative.
According to Marrison (1987:9) said that stock control involves activities designed towards the effective management and control of all inventory item held in stock. Stock represent a major part of the organizational working capital or money , therefore any stock cost because of theft fraud of damage will have to be replaced which will increase the organization costs and reduce its profit. The value of stock cost every year is impossible to calculate hence, the figure must run into billion of naira to which must be added the loss of profit and revenue arising from production hold ups and lost contracts.
Good store accounting will therefore real definite financial reward for the organization. In occupying out this project therefore, an attempt is being made to pinpoint the factors that hinders them effectively on stores .
Accounting aimed at rendering effective services to the user department and therefore by achieving the organization objectives. Unama Nigeria limited was incorporated in October 1982 as a private limited liability company. The company is located at old Nekede Owerri West Imo State. The company with indigenous and is owned by numerous shareholders including former East Central states, it is a unique joint stock company . it is made up of six departments namely: administration finance, stores, production , maintenance and internal audit departments. The company is a paper co wrapper, waxing , sheeting of papers and production of progress over the years and has now embarked on a programme of diversification and expansion as a result of research an search and finally settled on paper milling. The paper is ideal as for now all papers will produce the types of papers available. The paper is known as bleached kraft” while others are sourced locally such as toilet roll care, tambourines and printing ink. The company has various machines which performs different works example printing machines, cutting machine, waxing machine, sheeting machine, toilet log machines , core making machine and sheeting machine.

1.2 STATEMENT OF PROBLEM
In recent times several companies in Nigerian have reported loss of materials through explosion fire hazard and avoidable accidents. All these hazards have greatly affected operation in these organization . it has further affected staff and management of these organization. In view of the enormous resources in terms of money and materials, lost in such incidents these has been cause for better accounting in the day to day running of industries. Specifically, this study will focus on the following .
The problem of accounting as stores hours. The problem of accounting as per stock yard. Problem of accounting as per stores personnel how stores accounting affect the profit of the organization.

1.3 PURPOSE OF THE STUDY
The aim of this study is to identify the stores accounting lapses already existing in the organization and how it affect the profitability of the organization as it concerns the store house method of stores . accounting operation and materials handling . also this study will attempt to find out accounting lapse within the stock yard. It is also the objective of this study to find out the accounting needs of the company particularly as it concern materials and personnel in stores.
Furthermore, one of the objective of this study is to find out stores accounting required for finished goods in the warehouses. These will involve good in the accounting needs of the company with specific reference to the materials stocked by the company such as inflammable materials , example fuel, diesel and alcohol. The study will also cover the area of provision of equipment to safeguard materials such as stock document like ledger, stock cards etc.

1.4 SCOPE OF THE STUDY
In this study the focus was to establish the role of stores accounting in the profitability of an organization. The population comprises of staff of various section of Unsama paper mill Nigeria. A total of one hundred participants were used. The study looked at the consequences of stores accounting towards profitability of an organization and how stores accounting should be run in order to attract profitability or an organization .

1.5 RESEARCH QUESTIONS
It is necessary to establish some research question that will serve as a guide to the study.
These question would later be transferred to research hypothesis. The research hypothesis. The research questions are:
To what extent does stores accounting affect the administration of the organization. 
To what extent do stores personnel activities affect the growth of the organizations.
To what extent does stores management affect the profit making of the organization.

1.6 SIGNIFICANCE OF THE STUDY
The result of this study may be of use of the following group of people;
The result will be of help to Unama paper mill to enable the organization know the importance of store accounting and how its enhances the profit of the organization.
It will help to better way of conducting stores accounting and has contributed to the profit making of the organization.
Finally, it is hope that the result obtained from this study shall be of immense benefit to the government and to the literate public who may stumble on this work and this would discover how stores accounting enhances profit making in an organization.

1.7 LIMITATION OF THE STUDY
One of the major constraints of this study was lack of finance to go around collecting data from the respondents. In addition, some workers in the organization were afraid to give accurate information for fear of victimization . again, it was not possible to go through all the document concerned because some documents were classified as secret document and therefore were meant for any other persons consumption. The researcher was disappointed to note the were very few books from which to draw reference.

1.8 DEFINITION OF TERMS
1. BLIND STOCK TAKING: This is a system where by the person taking stock is given no prior information about the vocabulary numbers, descriptions, stock record balances or location of items he is to check. 
2. ACCOUNTING: Is a process taken to guard against theft burglary , fire incident etc on material of goods stored in the store house.
3. STOCK: This is the accumulation of materials, parts and components kept for future use.
4. STOCK TAKING: This refers to counting , weighting or measuring stock to obtain an accurate list of it. It can be done one a periodical or continued basis
5. STOCKING CHECKING: This is the physical checking of qualities of materials in the store which may be applied either regularly or intermittently.
6. STORES: This is a general term describing good which are held in store house and stock yard.
7. INSPECTION: According to Burton (1973:18) inspection is to be carried out at all catalogues terms of standard and specifications must immediately be available . Therefore, inspection is the examination of incoming or outgoing consignments to ensure required quality.
8. STORAGE OF MATERIAL: The process of keeping machines or equipment in a certain place until they are needed.
9. MATERIAL HANDLING: Embraces the movement of materials handling and storage of everything within around an establishment including raw materials, component and supporting goods, regardless of shapes , size from nature or weight.
10. INVENTORY SYSTEM: This is a system of which items are being written down in a particular store or making a complete not of all the lists or item held in store.
11. STOCK YARD: Are usually open storage areas used for the storing of various non perishable goods, that is those materials that will not deteriorate or perish when exposed to the elements over long period of times.
12. ACCOUNTING SERVICES: Is as old as any other service oriented function in organization. Therefore, can be define as a government organization that protects a country and its secrets from enemies.
13. ACCOUNTING: Is a management responsibility and is one of the most important aspects of stores management.
14. STORE KEEPER: This is a person who take proper care of the items held in store / shop in other to maintain proper stock.
15. SPECIFICATION: It is a detailed description of how something is or should be designed or made.
16. NEGOTIATION: This is legal / formal discussion between people who are trying to reach their agreement.
17. STOCK RECORDS: There are employed to alter the balance of stock by adding stock in the case of deliveries and subtracting in the case of issues.
18. QUALITY: Feature of something goods, especially one that makes it different from something else.
19. FENCING: According to (Oxford dictionary) 7th edition. It is the sport of fighting with long thins words.
20. FIRE EXTINGUISHER: Metal container with water or chemicals inside for putting out small fires.
21. FOOT WEAR: Shoes or boots people wear on their feet for protection.