Abstract: The mismanagement of every organization results from the inability of the financial accountability controllers to administer the financial resources in order to achieve its profit maximization. Business collapsed, is characterized by negligence to adhere to effective control system, which primarily comes from internal control. An organization encounters problems, which often times result to financial impropriety, which has made many firm to collapse. Some of these problems lie largely outside the control of the organization. These are the problem to be solved by the financial accountability controllers in the interest of effective control system of the organization. While other problems arise from the organization’s limitation in his financial resources. An analysis of factors that contributed to this fact would be highlighted and useful recommendation towards resolving these problems would be made. This researcher is optimistic in view of the fact that if these recommendations are adhered to, they will go a long way in achieving the objectives of this research work.
Table of content
CHAPTER ONE
Introduction
1.1 Background of the study … … … … … … 1
1.7 Limitations of the study … … … … … …
CHAPTER TWO
Review of related literature
Internal control … … … … … … …
Enterprise … … … … … … ... … …
Resources planning … … … … .. … …
CHAPTER THREE
Research design and methods
CHAPTER FOUR
Presentation and analysis of data
CHAPTER FIVE
Summary of findings, conclusion and recommendation
Bibliography … … … … … … … …
Appendix … … … … … … … … …
Chapter one
introduction
The subject of the study of “Financial Accountability” has been a controversial issue even among the early philosopher. Plato condemned using (i.e, the use of money in trade) according to him, for the attendant “social ills” and “unethical reason”.
In addition to the above, the peculiar nature of Nigeria economy has made any topic in accountability, financial or otherwise, worth discussing. Nigeria has had her fair share of financial impropriety both in public and private sector, no quite unconnected with her political set ups, the history of the evolution of her financial institutions and level of the country’s development.
The research has therefore been reduced to the firm (micro) level and Nigeria Bottling company 9th Mile corner, Enugu has been carefully selected to be used in drawing a line of parallel between the level of accounting in the public and private sectors.
Control is adjunct of accountability. The extent of financial accountability therefore should be reflected to the extent of the working mechanisms within the particular organization.
The fact that both public and private sectors make use of control measures is undisputable
The extent to which they employ this and how it has improve their finances is called to question. The effective means, by which they employ internal control to safeguard assets, collect debt or pay creditors, etc. is the issue at stake.
In the word of a management experts initial control comprises the plan of organization to co-ordinate methods and measures adopted within a business to safeguard its assets, check accuracy and reliability of its accounting data, promote operational efficiency and encourage adherence to prescribed managerial policies.
Apparently, the general concept “internal control” here is that it should be effective enough to cause probity in all the organization activities with a resultant discipline financial atmosphere in the organization.
HISTORICAL BACKGROUND OF NIGERIA BOTTLING COMPANY PLC, 9TH MILE CORNER, ENUGU.
The organization, coca-cola was incorporated as a company in Nigeria in the year 1952. However, the Enugu plant did not come into existence until 1975, due to the fact the Owerri plan could not sustain the rapidly increasing market demand of the Eastern region then. The management board of the company decided to establish another plant and Enugu state was unanimously picked or chosen as a viable site while Mr. Philip Eseyin was saddled with the responsibilities of managing the plant.
However, the plant only produce and packaged the coca-cola product while its commercial centre, Enugu Urban depot served as the annex responsible for all sales and as at the time of this write up; the coca-cola company has about fifteen (15) plants in Nigeria and sixty five (65) commercial depots and which Abuja plant is the youngest. The following are the core values of the company:
1.2 STATEMENT OF PROBLEM
Every policy formulated in boardrooms would have been a success, if they were being carried out there too. Unfortunately, adherence to planned policies by employees is the problem of many management of some companies.
Harold Koontz, noted that management is the art of getting thing done through and with people in formally organized group. The owner of every business expects a reaso
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