ACCOUNTING SYSTEM AND PROCEDURE IN PUBLIC SECTOR: (A CASE STUDY OF EKITI STATE WATER CORPORATION)

ABSTRACT
This project is designed to study
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.
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.
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. 
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.
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.
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.        



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
1.2     Objective
of the Study                                                       4
1.3          
Limitation
of the Study                                                      5
1.4     Delimitation
of the Study                                                   6
CHAPTER TWO
2.0     Literature
Reviewed                                                           7
2.1     Definition
of Accounting                                                   7
2.2     Accounting
as a System and Procedure                              9       
2.2.1 Elements of the System and
Procedure to Accounting         10
2.3     Forms
of Accounting                                                         12
2.4     Principles
of Accounting                                                    15
2.4.1 Accounting Concept                                                            15
2.4.2   Accounting
Convention                                                     17
2.5     The
Roles of Accounting                                                   18
2.5.1   Measurement
                                                                    18
2.5.2   Control                                                                              18
2.5.3     Decision Making                                                                19
2.6          
Characteristic
of Good Accounting Information                 19
2.6.1   
Relevance                                                                          19
2.6.2   
Accuracy                                                                            19
2.6.3   
Centralization and Decentralization of Accounting             20     
2.7     Peculiarity of Accounting System in Public
Sector             20
CHAPTER THREE      
3.0          
Research
Methodology                                                       23
3.1     Methods
of Data Collection                                                23
3.2     Procedure
for the Collection of Data                                  24     
3.3     Processing
of Data                                                             24     
3.4          
Questionnaire
Format                                                        25     



CHAPTER FOUR
4.0     Research
Finding                                                               27
4.1          
Organization
Structure                                                       27
4.2     Accounting
Services                                                          29
4.3     Cash Office                                                                        30     
4.4     Control Measures Institutionalized in the
Cash                            
Office Operations.                                                                       31
4.5     Ledger
Unit                                                                        33
4.6          
Expenditure
Unit                                                                34     
4.7     Capital Project Unit                                                            34     
4.8     Payroll Unit                                                              35
4.9     Loan
and Advance Unit                                                     36     
4.10    Budget
Reports and Statistics                                             38     
CHAPTER FIVE          
5.0     Recommendation
and Conclusion                                      40
5.1     Recommendations
                                                            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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