ABSTRACT
This project is designed to study
accounting system and procedure in public sector with reference to Ekiti State
Water Corporation.
accounting system and procedure in public sector with reference to Ekiti State
Water Corporation.
The introduction aspect of the
project discussed about the historical
background of accounting in Ekiti State Water Corporation such as date of
creation and administration of the Water Corporation, land space covered and
other things. Also objectives and analysis of the study was well explained, the
limitation and delimitation of the study was also discussed. Areas covered and
areas unable to cover were also mentioned in the study.
project discussed about the historical
background of accounting in Ekiti State Water Corporation such as date of
creation and administration of the Water Corporation, land space covered and
other things. Also objectives and analysis of the study was well explained, the
limitation and delimitation of the study was also discussed. Areas covered and
areas unable to cover were also mentioned in the study.
Chapter two of the project considers
the literature review, under the literature review, I discussed fully about
accounting as a profession, the definition of accounting, the system and
procedure of Accounting in Ekiti State Water Corporation. Thereafter, the
prospects and problems facing the accountant in the public sector with
reference to Ekiti State Water Corporation were also discussed. The principles
of accounting were also included with forms of accounting, roles of accounting,
characteristic and peculiarity in Ekiti State Water Corporation.
the literature review, under the literature review, I discussed fully about
accounting as a profession, the definition of accounting, the system and
procedure of Accounting in Ekiti State Water Corporation. Thereafter, the
prospects and problems facing the accountant in the public sector with
reference to Ekiti State Water Corporation were also discussed. The principles
of accounting were also included with forms of accounting, roles of accounting,
characteristic and peculiarity in Ekiti State Water Corporation.
Chapter three centres on the research
methodology and limitation. My source of data like treasury department, rates
section and internal audit were mentioned in the write up. I employed
interview, questionnaire and personal observation in collection of data from
the treasury department of Ekiti State Water Corporation.
methodology and limitation. My source of data like treasury department, rates
section and internal audit were mentioned in the write up. I employed
interview, questionnaire and personal observation in collection of data from
the treasury department of Ekiti State Water Corporation.
Chapter four contains research
finishing organization of the department, cash office was visited and matter
related to cash management were exhaustively discussed ledger unit was also
visited and ledgers were examined with a view to see how transactions were
recorded and the differences observed between it and companies were briefly
explained.
finishing organization of the department, cash office was visited and matter
related to cash management were exhaustively discussed ledger unit was also
visited and ledgers were examined with a view to see how transactions were
recorded and the differences observed between it and companies were briefly
explained.
Also, expenditure unit, capital
project unit, payroll unit, loan and advances, budget, report and statistics were
visited. Activities were examined and finishing in each unit were discussed in
the project.
project unit, payroll unit, loan and advances, budget, report and statistics were
visited. Activities were examined and finishing in each unit were discussed in
the project.
Chapter five, centres in conclusion
and recommendation is the last write up to the whole study, suggestions and
recommendation and improving the account system and procedure in Ekiti State
Water Corporation were comprehensively discussed.
and recommendation is the last write up to the whole study, suggestions and
recommendation and improving the account system and procedure in Ekiti State
Water Corporation were comprehensively discussed.
TABLE OF CONTENTS
Page
Title i
Certification ii
Dedication iii
Acknowledgements iv
Abstract vi
Table of Contents ix
CHAPTER ONE
1.0 Introduction 1
1.1 Background
of the Study 1
of the Study 1
1.2 Objective
of the Study 4
of the Study 4
1.3
Limitation
of the Study 5
Limitation
of the Study 5
1.4 Delimitation
of the Study 6
of the Study 6
CHAPTER TWO
2.0 Literature
Reviewed 7
Reviewed 7
2.1 Definition
of Accounting 7
of Accounting 7
2.2 Accounting
as a System and Procedure 9
as a System and Procedure 9
2.2.1 Elements of the System and
Procedure to Accounting 10
Procedure to Accounting 10
2.3 Forms
of Accounting 12
of Accounting 12
2.4 Principles
of Accounting 15
of Accounting 15
2.4.1 Accounting Concept 15
2.4.2 Accounting
Convention 17
Convention 17
2.5 The
Roles of Accounting 18
Roles of Accounting 18
2.5.1 Measurement
18
18
2.5.2 Control 18
2.5.3 Decision Making 19
2.6
Characteristic
of Good Accounting Information 19
Characteristic
of Good Accounting Information 19
2.6.1
Relevance 19
Relevance 19
2.6.2
Accuracy 19
Accuracy 19
2.6.3
Centralization and Decentralization of Accounting 20
Centralization and Decentralization of Accounting 20
2.7 Peculiarity of Accounting System in Public
Sector 20
Sector 20
CHAPTER THREE
3.0
Research
Methodology 23
Research
Methodology 23
3.1 Methods
of Data Collection 23
of Data Collection 23
3.2 Procedure
for the Collection of Data 24
for the Collection of Data 24
3.3 Processing
of Data 24
of Data 24
3.4
Questionnaire
Format 25
Questionnaire
Format 25
CHAPTER FOUR
4.0 Research
Finding 27
Finding 27
4.1
Organization
Structure 27
Organization
Structure 27
4.2 Accounting
Services 29
Services 29
4.3 Cash Office 30
4.4 Control Measures Institutionalized in the
Cash
Cash
Office Operations. 31
4.5 Ledger
Unit 33
Unit 33
4.6
Expenditure
Unit 34
Expenditure
Unit 34
4.7 Capital Project Unit 34
4.8 Payroll Unit 35
4.9 Loan
and Advance Unit 36
and Advance Unit 36
4.10 Budget
Reports and Statistics 38
Reports and Statistics 38
CHAPTER FIVE
5.0 Recommendation
and Conclusion 40
and Conclusion 40
5.1 Recommendations
40
40
5.2 Conclusion 41
Bibliography 43
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Record
keeping, by whatever means is as old as man himself. Modern system of keeping
acco
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