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  FINANCIAL MANAGEMENT AND ACCOUNTABILITY IN NIGERIA LOCAL GOVERNMENT SYSTEM

               (A CASE STUDY OF AYAMELUM LOCAL GOVERNMENT AREA ANAMBRA STATE)

ABSTRACT

“The unfortunates general feelings among Nigerians is that, it is no crime to misappropriate to personal use, government resources or funds with careless abandon”.

Against the backdrop thee is problem of financial management and accountability in Ayamelum local government council because of the tagged stereotype that what belongs to nobly. This is why the Ayamelum local government operator only seek to satisfy personal conscience to the detriment of the public.

Despite all the provisions in financial memorandum and checks and balance system, there, the continuous cases of corruption and embezzlement which undermines the objectives of the local government being achieved. This phenomena has been exacerbated in recent times by massive poverty, deprivation and generally aver low standard of living in the general Nigerian society which has not been help by long years if military misrule and massive corruption in the highest lungs of government.

The objective of this research work is it examines the various provision made in local government reform guideline of 2976, 1988 other recent form. The provision of the financial

Memorandum and instruction and relevant documents for effective financial management and accountability in local government system.

The policy makers and future researcher will  find it useful. In view of these stated objectives this research work is intended to critically study the problem associated with financial  management and accountability in Nigeria local government system.

And the services which the local government is suppose to render were studied hoping that findings and recommendation proffered by the researcher will automatically particular and the society at large.

 

TABLE OF CONTENTS

CHAPTER ONE

1. INTRODUCTION                                                1

1.1     BACKGROUND TO THE STUDY                     1

1. STATEMENT OF THE PROBLEM                    4
2. OBJECTIVE OF THE STUDY                           6
3. SIGNIFICANCE OF THE STUDY                     8
4. THE SCOPE AND LIMITATION OF

THE STUDY                                                       9

CHAPTER TWO

RESEARCH PROCEDURE                                          11

1. LITERATURE REVIEW                                     11

2.1     CONCEPT OF LOCAL GOVERNMENT           14

1. DEFINITION OF FINANCE                               15
2. DEFINITION OF  MANAGEMENT                             16
3. DEFINITION OF FINANCIAL MANAGEMENT        17
4. BRIEF HISTORICAL -

DEVELOPMENT OF ACCOUNTING                18

1. DEFINITION OF ACCOUNTING                      19

2.6.1  ROLES OF ACCOUNTING OF THE SOCIETY 23

1. ROLES OF ACCOUNTANT IN THE SOCIETY         25
2. ACCOUNTING ASSUMPTION AND –

PRINCIPLES                                                       26

1. IMPORTANCE OF ACCOUNTING 

INFORMATION                                                  30

1. PRINCIPLES OF ACCOUNTING                       31              
2. USERS OF ACCOUNTING INFORMATION    33
3. QUALITIES OF ACCOUNTING

INFORMATION                                                  36

1. ACCOUNTING SYSTEM                                   41
2. DEFINITION OF ACCOUNTABILITY                            45
3. GENERAL OF FUNDS OR REVENUE IN LOCAL

GOVERNMENT FUNCTION OF FINANCE               51

1. FUNCTIONS OF FINANCE                                    53
2. SERVICE RENDERED BY LOCAL

GOVERNMENT                                                      56

1. FORMULATION OF HYPOTHESIS                       56

CHAPTER THREE

1. RESEARCH DESIGN AND METHODOLOGY 59

3.1     INTRODUCTION                                              59

1. RESEARCH DESIGN                                         60
2. INSTRUMENT FOR DATA COLLECTION      61
3. DETERMINATION OF SAMPLE SIZE              62
4. METHOD OF SAMPLING USED IN

 SELECTION                                                      63

1. METHOD OF STATISTICAL ANALYSIS         63

CHAPTER FOUR

1. DATA PRESENTATION AND ANALYSIS       64

4.1     INTRODUCTION                                                         64

1. PRESENTATION AND ANALYSIS OF DATA          64
2. TEST OF HYPOTHESIS                                     79
3. HYPOTHESIS I                                                   79
4. HYPOTHESIS II                                                  82
5. HYPOTHESIS III                                                83
6. HYPOTHESIS IV                                                          85

CHAPTER FIVE

1. FINDINGS, SUMMARY, CONCLUSION AND RECOMMENDATION

5.1     INTRODUCTION                                                         88

1. FINDINGS                                                           89
2. IMPLICATION OF RESULTS AND FINDINGS         92
3. SUMMARY                                                                  96
4. CONCLUSION                                                    98
5. RECOMMENDATION                                        99

BIBLIOGRAPHY                                                          104

QUESTIONNAIRE                                              109

 

CHAPTER ONE

1. BACKGROUND TO THE STUDY

Before Nigeria became colonized, local government was carried out by traditional institutions more importa