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TABLE OF CONTENT

CHAPTER ONE:

1.0 INTRODUCTION

1. BACKGROUND O THE STUDY
2. STATEMENT OF THE STUDY
3. PURPOSE OF THE STUDY
4. SIGNIFICANCE OF THE STUDY
5. SCOPE OF THE STUDY
6. DEFINITION OF TERMS

CHAPTER TWO

1. REVIEW OF RELATED LITERATION

2.1  PRINCIPLES OF FINANCIAL CONTROL

1. OBJECTIVE OF INTERNAL CONBTROL SYSTEM
2. SOURCES OF DATA WHICH INCLUDE
3. INTERNAL CONTROL JOURNALS,
4. ACCOUNTING DOCUMENTS SUCH AS RECEIPT,

VOCHER, CASH BOOK, STORE RECEIPT

 

CHAPTER THREE

1. SUMMARY OF DINDING, RECOMMENDATION AND CONCLUSION.

3.1  SUMMARY OF FINDINGS

1. CONCLUSION
2. RECOMMENDATION
3. BIBLIOGRAPHY

 

CHAPTER ONE

INTRODUCTION

1. BACKGROUND OF THE STUDY:

One problem of management is planning but planning is useless if it is not implemented.  The success of any plan is based on adequate control and monitoring of the resources of the disposal in order to achieve the required objective.

However, this is a research on the implication of accounting as an internal control machanism in Enugu State Ministries.

Accounting is defined as art of  recording and giving result of business transaction to the client.  There is a need for the establishment of internal control mechanism to ensure the safety and  enthencity of accounting records from the point of collection of cash or material in final uses.

Internal control therefore means the whole system of controls, financial and otherwise established by the management in order to carry on the efficient manner, ensure adherence to management policies safeguard its assets and secure as far as possible the accuracy and retaliation of its records.

1. STATEMENT OF THE PROBLEM

There is a lot of lapses in cash and payroll sectors of many government ministries.  Cases of fraud and pressing of files containing important document and so on.  Recording of materials that were not supplied and issuing store received voucher to contractor, not complying with state financial instructions in accounting system and other cases.

          Due to all these mentioned above, the topic of this research was chosen not only to look at the causes and effects but also to give appropriate recommendation which will help to reduce it.

 

1. PURPOSE OF THE STUDY

THE PURPOSE OF THIS STUDY ARE AS FOLLOWS:-

To ascertain the effectiveness of accounting as an internal control mechanism in Enugu State government ministries.

          To review the function of internal audit departments of many government departments with the view of finding out the extent to which they have been able to restore their duties.

          To ascertain if this internal control is effective.  To identify possible loopholes (if any) and to ascertain the relevance of the present adopted controls mother to find means of correcting it or whether an alternative are needed.

 

1. SIGNIFICANCE OF THE STUDY

          The research will be beneficial to the entire government and other public institution/establishment.  It will also help the government to achieve its objective as established.  The benefit of an effective accounting as an internal control mechanism cannot be over emphasized.  Frauds and misappropriation of funds are the bane of the society and the earlier it is fought the better for prosperity.

          The research would be beneficial to future researchers would be interested in carrying out a further research work in the same field.  Finally, this study is also a means of academic inspiration for future professionalism.

1.   SCOPE OF THE STUDY

This research would have been extended to include all ministries but owing to some circumstances it is limited to the ministry of Agriculture Enugu. However, due to the limitation of the topic, the implication of accounting as internal control mechanism the research was limited to the main division of accounts in any ministry cash control, store control, payroll control, overhead cash (personnel cost and fixed asset control).

 

1. DEFINITION OF TERMS

INTERNAL CONTROL SYSTEM

This is the whole system of controls, financial and otherwise established by the management in order to carry out the business of the enterprise in an adhence to management policies safeguard the assets and ensure as fax possible the completeness and accuracy of the record.

 

RECEIPT VOUCHER

          This is a document that those pays in money due to government fills which enable the revenue collector to issue official receipt to payee.

PAYMENT VOUCHER

          This is a book in which voucher raised must first be recorded and the number being given to the voucher.

CASH BOOKS

          This is a document used to record all receipts and payment or revenue and expenditure.