TABLE OF CONTENT
CHAPTER ONE
CHAPTER TWO
2.0 Literature Review
2.1 Nature of Government accounting
2.2 Procedure for government accounting
2.3 Financial control
2.4 Control technique
2.5 Treasury control
2.6 Expenditure control
2.7 Expenditure control
2.8 Department control
2.9 Summary of related review literature
CHAPTER THREE
3.0 Summary
3.1 Findings
3.2 Recommendations
Reference
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Universally, it is well known fact that the management and control of public fund determine the success of all governmental activities and it is also at the heart of government administration hence the need for an acceptable accounting system that will comprehensively after solution to the accounting problem of the government and society.
The management and control of public fund are governed by the finance (control and management) act of 1988. this was as a result of the constitutional amendment of 1957 which in settee subsection 154A to E into section 154 which deals with the operation of the consolidated revenues fund. The principles of this act forms the base of finance act which had s slight change in the 1976 and 1989 constitution. Furthermore government accounting is regulated by section 129, 148 of the constitution laws enacted by government. In power, the fiancé (control and management act of 1958 and by decrees and acts which were promulgated into laws.
The federal ministry of finance performs the duty of management and control of public fund, which is directly the peculiar responsibility of the treasury now referred to as the office of the Accountant General. The treasury functions and duties are streamlined to asset of guide where expenditure and receipts for the year hence, no receipt or expenditure are transferred to the next accounting period.
The rules and regulation governing the accounting practices (management and control public funds) are contained in the financial regulation treasury accounting manual and treasury circulars
According to this financial regulation (FR 519) the provision stated that “Before making any payment at sub accounting office will satisfy immensely so far as he is in a position to do so that
These basic functions are services rendered by the treasury.
1.1 STATEMENT OF THE PROBLEM
The treasury as a custodian of public fund is responsible for providing a retailed of all public and that federal ministry/Department being part of the treasury is also vested with same responsibility.
However, the treasury is faced with number of problems that tend to under the effectiveness of accounting system.
The following problems are therefore identified with a view to finding this solution so that credible accounting system will re-sure.
Consequently, this research work is intend to find solution to these problems that militate against the efficient and effective implementation of accounting systems in the government treasury.
1.2 OBJECTIVE OF THE STUDY
Reference to the numerous problems facing the treasury in the quest to have an effective accounting system in pursuance of nations building this work is aimed at ascertaining the importance and significance of this government accounting system an identify causes of this ineffectiveness.
More so, this study is aimed at analyzing the following
1.3 SCOPE OF STUDY
This study covers the responsibilities and duties of federal ministry/department and implementation of the accounting principles rules and regulation for effective and efficient performance . the duties includes the compliance to the treasury requirement, the enforcement of the rules and regulation. In the financial regulation so as to always produce proper and credible account of public fund. The importance and effectiveness of this accounting system to the organization and finally the shortcoming of the accounting system on organization of any.
1.4 LIMITATIONS OF THE STUDY
The greatest constraint the research has is time factor which made impossible for the researcher to carry out more study under area or division of the treasury
1.5 DEFINITION OF TERMS
The following terms used in the study should be taken to mean the following
ACCOUNTING: Accounting can be defined as the recording and analysis of economic transaction and monetary terms and forecasting of future activities as part of management information system this highlighting the use of accounting in planning.
TREASURY: This is a government office that deals with a country’s public money.
FUND: This also can be seen as any amount of money set apart for some special purpose.
ORGANIZATION: Organization is a large organized group of people such as a business company.
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