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26
BUSINESS and ECONOMY / THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
« on: September 30, 2019, 02:36:13 PM »
THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT

Background to the Study
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organization.  The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float.  The expenses so incurred are recorded in the petty cash record.  At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount.  The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c).  The amounted requested for the replenishment of the imprest is documented in the petty cash dockets and their associated receipts or invoices.  The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance; WEB EXPENSE (2016).  The research therefore seek to investigate the effect of Imprest system on cash management.
 Statement of the Problem
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organisation.  The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float.  The expenses so incurred are recorded in the petty cash record.  At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount.  The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c).  The amounted requested for the replenishment of the  imprest  is documented in  the petty cash dockets and their associated receipts or invoices.  The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance.
The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for.  Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period.  Therefore, many organization suffer hugh losses from the imprest system for sources considered insignificant in the accounting process of the organization.
Much of petty cash funds have being diverted for personal uses and unaccounted for thereby increasing organizational cost.  The principal reason is that in may organization petty cash accounting is not included in the main accounting policy framework of the organization as a result when other accounting records are  checked and scrutinized  the petty cash records are not included in  the scheme.  Consequently, the neglect of management in overseeing the imprest system has constituted a major reason for the regular mismanagement and fraud in the imprest system of cash management.  However with modern technology advocate for the application of the digital process to enhance a policy based implementation of the imprest system has been made.  Therefore, the problem confronting the research is to determine the effect of the imprest system on cash management.
1. 2      Objectives of the Study
To find out the effect of  imprest system on cash management.  To determine how effective the imprest system is.  To find out the challenges of the imprest system.
1. 3      Research Questions
i.   What is the effect of imprest system on cash management?
ii.  How effective is the imprest system?
iii.  What are the challenges of the imprest system?
1. 4      Significance of the Study
The study proffers the need for an enlarge accounting policy framework which will cover the presentation of accurate accounting records and cash management for the imprest system.  The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for.  Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period.  Therefore many organization suffer hugh losses from the imprest system
1. 5      Research Hypothesis
Ho: The effect of imprest system on cash management is not effective
Hi: The effect of imprest system on cash management is effective
1. 6      Scope of the Study
The study focuses on the appraisal of The effect of imprest system on cash management
1. 7      Limitations of the Study
The study was confronted by some constraints including logistic and geographical factor.
1. 8      Definition of Terms
IMPREST SYSTEM DEFINED
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organisation.  The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float.  The expenses so incurred are recorded in the petty cash record.  At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount.  The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts.

27
CHAPTER ONE
1.    INTRODUCTION
1. 1 Background of the Study: The number of people with high blood pressure is in the increase and research has shown that this condition is heightened by overweight of the patient.  That is to say, the more one increases in weight, the higher the tendency of him or her becoming hypertensive.  Mori TA (2007).  In essence, there is a symbolic relationship between being over-weight and being hypertensive or having high blood pressure.  It is in the interest of people who are likely to develop high blood pressure (over-weight people) to seek out ways of managing their weight, as this research work will try to bring out the effects of weight on such people with high blood pressure.  What seems unresolved here is the extent to which weight affect people suffering from high blood pressure.  Many writers’ views will be examined in the cause of this work to help resolve the issue at stake.  Over-weight here will be described or rather defined based on a calculation called “Body mass index” (BMI).  According to this formular, one is regarded as over-weight if his BMI is greater than 25.  Mancia G.  (2007).  High  blood pressure on the other hand occurs when one’s blood move through the arteries at a higher speed than normal.  It is also known that for now there is no cure for high blood pressure.  Papadakis A, Macphere J.  (2008).  The seriousness of this adult illness (high blood pressure) is not just that it can lead to more serious illness or complications, raises the risk of stroke, kidney failure, heart disease and heart attack.  The matter is made worse with the existence of too much weight or fat in the body as this tends to make the condition severe.  It is the duty of stakeholders in health sectors to keep the adult folk aware of the implication of over-weight by providing them with accurate, timely and up to date information regarding this health condition.  It is also the duty of health personnel to warn and educate adults who are more prone to high blood pressure, about the dangers of over-weight in the management of high blood pressure.  This awareness is expected to affect the feeding habit of these people, since it has been observed that poor feeding (that is, poor combination of the classes of food, not necessarily the quantity) is one of the causes of over-weight.  Sacks F. M (2008).  Statistics have it that between the years 2000 and 2008, there has been about fourty percent (40%) increase in the number of people having high blood pressure.  Manson J (2009).  Another statistics show that in 2005, sixty percent (60%) of people suffering from high blood pressure were suffering also from kidney failure and heart disease, and that high blood pressure was identified as the remote cause of the disease that later led to the death of a greater percentage of the patients.  Manson J.  (2009).  It is believed in many quarters that some of the findings above and many more are the reasons for the recent step-up in action in the area of high blood pressure management.  Hence, many Nigerians knowing the cost of managing such diseases that tends to originate from high blood pressure hightened by over-weight, seem to have woken to the call on “healthy and fit”.  This research therefore, would not have been more timely than this.  As a matter of fact, it is this situation on ground that necessitated this research work. 1. 2 AIMS AND OBJECTIVE -This project work is aimed at investigating whether there is a relationship between weight and blood pressure of patients with high blood pressure.  - To estimate the regression model between the variables based on the sample collected.  -To test the significance of the coefficient of regression.  -To determine the extent and direction of the relationship between the variables; weight and blood pressure.
1. 3 SCOPE OF THE STUDY: This project work is designed to cover the statistical model of effects of weight on thirty (30) patients with high blood pressure in the University of Nigeria Teaching Hospital Ituku/Ozalla Enugu State.  The data used is a secondary data collected from the laboratory unit of the Hospital.
1. 4 LIMITATIONS OF THE STUDY: The limitations of the project work is mostly the difficulties encountered during data collection some of these difficulties are as follows:- -The cost of getting project materials, data and the time constrained in carrying out the project work.  -The unwillingness of the offices incharge, to release information and data as expected.  -The data used are secondary data and as such, some errors (generated errors) might have been committed.
1. 5 SIGNIFICANCE OF THE STUDY: This project work will help individuals to predict their blood pressure given their weight and will equally help them to know what to do when their weight is becoming too much.
1. 6 DEFINITION OF TERMS -Weight: This is how heavy somebody or something is which can be measured in, for example kilograms or pounds.  -Height: This is the measurement of how tall a person or thing is.  -High blood pressure: This occurs when one’s blood move through the arteries at a higher pressure than normal.
CHAPTER ONE
1.    INTRODUCTION
1. 1 Background of the Study: The number of people with high blood pressure is in the increase and research has shown that this condition is heightened by overweight of the patient.  That is to say, the more one increases in weight, the higher the tendency of him or her becoming hypertensive.  Mori TA (2007).  In essence, there is a symbolic relationship between being over-weight and being hypertensive or having high blood pressure.  It is in the interest of people who are likely to develop high blood pressure (over-weight people) to seek out ways of managing their weight, as this research work will try to bring out the effects of weight on such people with high blood pressure.  What seems unresolved here is the extent to which weight affect people suffering from high blood pressure.  Many writers’ views will be examined in the cause of this work to help resolve the issue at stake.  Over-weight here will be described or rather defined based on a calculation called “Body mass index” (BMI).  According to this formular, one is regarded as over-weight if his BMI is greater than 25.  Mancia G.  (2007).  High  blood pressure on the other hand occurs when one’s blood move through the arteries at a higher speed than normal.  It is also known that for now there is no cure for high blood pressure.  Papadakis A, Macphere J.  (2008).  The seriousness of this adult illness (high blood pressure) is not just that it can lead to more serious illness or complications, raises the risk of stroke, kidney failure, heart disease and heart attack.  The matter is made worse with the existence of too much weight or fat in the body as this tends to make the condition severe.  It is the duty of stakeholders in health sectors to keep the adult folk aware of the implication of over-weight by providing them with accurate, timely and up to date information regarding this health condition.  It is also the duty of health personnel to warn and educate adults who are more prone to high blood pressure, about the dangers of over-weight in the management of high blood pressure.  This awareness is expected to affect the feeding habit of these people, since it has been observed that poor feeding (that is, poor combination of the classes of food, not necessarily the quantity) is one of the causes of over-weight.  Sacks F. M (2008).  Statistics have it that between the years 2000 and 2008, there has been about fourty percent (40%) increase in the number of people having high blood pressure.  Manson J (2009).  Another statistics show that in 2005, sixty percent (60%) of people suffering from high blood pressure were suffering also from kidney failure and heart disease, and that high blood pressure was identified as the remote cause of the disease that later led to the death of a greater percentage of the patients.  Manson J.  (2009).  It is believed in many quarters that some of the findings above and many more are the reasons for the recent step-up in action in the area of high blood pressure management.  Hence, many Nigerians knowing the cost of managing such diseases that tends to originate from high blood pressure hightened by over-weight, seem to have woken to the call on “healthy and fit”.  This research therefore, would not have been more timely than this.  As a matter of fact, it is this situation on ground that necessitated this research work. 1. 2 AIMS AND OBJECTIVE -This project work is aimed at investigating whether there is a relationship between weight and blood pressure of patients with high blood pressure.  - To estimate the regression model between the variables based on the sample collected.  -To test the significance of the coefficient of regression.  -To determine the extent and direction of the relationship between the variables; weight and blood pressure.
1. 3 SCOPE OF THE STUDY: This project work is designed to cover the statistical model of effects of weight on thirty (30) patients with high blood pressure in the University of Nigeria Teaching Hospital Ituku/Ozalla Enugu State.  The data used is a secondary data collected from the laboratory unit of the Hospital.
1. 4 LIMITATIONS OF THE STUDY: The limitations of the project work is mostly the difficulties encountered during data collection some of these difficulties are as follows:- -The cost of getting project materials, data and the time constrained in carrying out the project work.  -The unwillingness of the offices incharge, to release information and data as expected.  -The data used are secondary data and as such, some errors (generated errors) might have been committed.
1. 5 SIGNIFICANCE OF THE STUDY: This project work will help individuals to predict their blood pressure given their weight and will equally help them to know what to do when their weight is becoming too much.
1. 6 DEFINITION OF TERMS -Weight: This is how heavy somebody or something is which can be measured in, for example kilograms or pounds.  -Height: This is the measurement of how tall a person or thing is.  -High blood pressure: This occurs when one’s blood move through the arteries at a higher pressure than normal.

28
CHAPTER ONE
INTRODUCTION
1. 1       BACKGROUND OF THE STUDY


The rate of growth in Nigeria economy cannot be fully analyzed without a closer look at the contribution of capital formation to Nigeria’s economic growth.  This is in the understanding that capital formation has been recognized as an important factor that determines the growth of Nigerian economy.  According to Bakare (2011), Capital formation refers to the proportion of present income saved and invested in order to augment future output and income.  It usually results from acquisition of new factory along with machinery, equipment and all productive capital goods.  Capital formation is equivalent to an increase in physical capital stock of a nation with investment in social and economic infrastructure.  Continuing on the matter he noted that Gross fixed capital formation can be classified into gross private domestic investment and gross public domestic investment.  The gross public investment includes investment by government and public enterprises while gross private domestic investment is investment by private enterprises.  Gross domestic investment is equivalent to gross fixed capital formation plus net changes in the level of inventories.  Economic theories have shown that capital formation plays a crucial role in the models of economic growth (Beddies 1999; Gbura and THadjimichael 1996, Gbura, 1997).  This view called capital fundamentalism however was supported by the work of  Youopoulos and Nugent (1976) as sited in Bakare (2011).  Growth models like the ones developed by Romer (1986) and Lucas (1988) predict that increased capital accumulation can result in a permanent increase in growth rates.  Capital naturally plays an important role in the economic growth and development process.  It has always been seen as potential growth enhancing player.  Capital formation determines the national capacity to produce, which in turn, affects economic growth.  Deficiency of capital has been cited as the most serious constraint to sustainable economic growth.  Meanwhile, an understanding of the impact of capital formation is a crucial prerequisite in designing a policy intervention towards achieving economic growth.  The process of capital formation according to Jhingan, (2006) involves three inter-related conditions; (a) the existence of real savings and rise in them; (b) the existence of credit and financial institutions to mobilize savings and to direct them to desired channels; and (c) to use these savings for investment in capital goods.  The government of Nigeria in 1986 considered the need for improvement in capital formation and pursued an economic reform that shifted emphasis to private sector.  The public sector reforms were expected to ensure that interest rates were positive in real terms and to encourage savings, thereby ensuring that investment funds would be readily available to the real sector.  Besides this, the reforms were expected to lead to efficiency and productivity of labor; efficient utilization of economic resources, increase aggregate supply, reduces unemployment and generate low inflation rate.  For example, during 1980s, gross fixed capital information average 21. 3 percent of GDP in Nigeria.  This proportion increased to 23. 3 percent of GDP in 1991 and declined to 14. 2 percent of GDP in 1996.  It picked and increased to 17. 4 percentage in 1997 and average 21. 7 during 1997 to 2000.  The gross capital formation rose from 22. 3 percent of GDP in 2000 to 26. 2 percent in 2002 and declined drastically to 21. 3 percent in 2005 (Bakare 2011).
Economic theories have shown that capital formation plays a crucial role in the models of economic growth (Beddies 1999; Gbura and THadjimichael 1996, Gbura, 1997).  This view called capital fundamentalism by Youopoulos and Nugent (1976) has been reflected in the macroeconomic performances of many countries.  It is clear that even mildly robust growth rates can be sustained over long periods only when countries are able to maintain capital formation at a sizeable proportion of GDP.  It has been discovered that any proportion less than 27 percent cannot sustain economic growth.  It is estimated that the ratio of gross capital formation to GDP in the sub-saharan African countries which has experienced poor growth in the 1990s was less than 17 percent compared to 28 percent in advanced countries (Hernandez-Cata 2000).
This phenomenon justifies the strong linkage between capital formation and economic growth.  In order to trace the linkage between capital formation and growth, the gross capital formation of each year is normally scaled to the gross domestic product (GDP).  Thus, fluctuations in capital formation is said to have considerable effect on economic growth.  However, the proportion of capital formation to GDP that can sustain a robust economic growth must not be less than 27 percent and in some cases, it must go as high as 37 percent (Gillis et al 1987).
In 1986, the government of Nigeria considered the need for improvement in capital formation and pursued an economic reform that shifted emphasis on private sector.  The public sector reforms were expected to ensure that interest rates were positive in real terms and to encourage savings, thereby ensuring that investment funds would be readily available to the real sector.  Besides this, the reforms were expected to lead to efficiency and productivity of labor; efficient utilization of economic resources, increase aggregate supply, reduce unemployment and generate low inflation rate.  For example, during the 1980s, gross fixed capital formation was an average 21. 3 percent of GDP in Nigeria.  This proportion increased to 23. 3 percent of GDP in 1991 and declined to 14. 2 percent of GDP in 1996.  It picked and increased to 17. 4 percent in 1997 and an average of 21. 7 percent during 1997 to 2000.  The gross capital formation rose from 22. 3 percent of GDP in 2000 to 26. 2 percent in 2002 and declined drastically to 21. 3 percent in 2005.
Empirical literature on growth has consistently shown that the rate of accumulation of physical capital or investment is an important determinant of economic growth.   Results provide evidence that public capital investments are a key input in the private sector production process for they affect both the steady state level of income per capita and the rate of economic growth on the transition path towards equilibrium (Nair, 2005).   Furthermore, there are other important empirical evidences why private investment should be at the centre of the debate on how to promote growth and raise employment.  Ndikuman (2005), while accepting that investment is a robust determinant of growth, especially investment on equipment, believe that private investment is a key determinant of cross-country difference in long run economic growth.  This has led observers to identify low investment as one of the leading causes of the slow growth in developing countries in general and in African countries in particular.  The UN Millennium Project (2005) has re-emphasized the need for a big push strategy in investment to help poor countries break out of their poverty trap and achieve the Millennium Development Goals (MDGs).   The report argues further that, to enable all countries achieve the MDGs, there should be identification of priority of private investments to empower poor people, and these should be built into MDG-based strategies that anchor the scaling-up of private investment.
Economic theory shows that economic growth can be realized in two ways- increase in the amount of factors of production; and increase in the efficiency with which those factors are used.  Thus, growth is induced by the increases in investment (i. e.  capital accumulation) and the efficiency of investments (De-Gregorio, 1998).  None of these indicators of growth has however been sufficient in achieving a substantial level of growth in most developing countries.  In the late 1970s and early 1980s, most developing countries of Africa experienced unprecedented and severe economic crises.  These crises manifested in several ways such as persistent macro-economic imbalances, widening savings-investment gap, high rates of domestic inflation, chronic balance of payment problems and huge budget deficit (Akpokodje, 1998).
The Nigerian growth experience has however been very pathetic.  In more than five decades of independence; Nigeria has never grown at 7 percent or more for more than three consecutive years (NEEDS, 2004).   Between 1975 and 2000, Nigeria’s broad based macroeconomic aggregate-growth, the terms of trade, the exchange rates, government revenue and spending – were among the most volatile in the developing world.   The economy has been caught in a low growth trap, characterized by a low savings – investment equilibrium (at less than 20 percent).   With an average annual investment rate of barely 16 percent of GDP, Nigeria is far below the minimum investment rate of about 30 percent of GDP required to unleash a poverty reduction rate of at least 7–8 percent per year (NEEDS, 2004).   In providing what is perhaps one of the best reviews of literature, Collier and Gunning (1999) zero in on several important factors whose impact on African growth performance is mediated through their negative implications for investment, particularly private investment.  In their view, “cumulatively” the variables have contributed to a capital hostile environment.  This in turn has reduced the rate of return on private investment.  These factors include: high risk, capital hostile environment, poor finance and low savings.
The decline in capital formation can be as a result of macroeconomic imbalances such as deteriorating foreign exchange rate and corruption in public sector.  The inadequacy in economic infrastructure such as poor power supply, bad road network as well as poor health facilities were equally responsible for the decline in capital formation over time.  Overall, the speed and the strength of economic growth in Nigeria have not been satisfactory.
Prescription of solutions to the poor performance of private investment that characterized a growing economy like Nigeria is of great policy concern; it is against the backdrop of the foregoing that this study investigates capital formation via savings and investment as it impacts growth of Nigerian economy using time series data.
1. 2       STATEMENT OF PROBLEM
          Capital accumulation is a catalyst to economic growth.   Empirical studies like (Hernandez-Cata, 2000; Elenog and Jayaraman, 2001; Ndikumana, 2005) conducted in Africa have established beyond doubt, the critical linkage between investment and the rate of growth. 
            Viewed against the background of growing evidence of a strong link between high investment and sustainable growth, the Nigerian policy makers pursued a structural adjustment program about three decades ago which shifted emphasis from public sector to private sector.  The public sector reforms were expected to ensure that interest rates were positive in real terms and to encourage savings, thereby ensuring that investment fund would be readily available to the real sector.  Besides this, the reforms were expected to lead to efficiency and productivity of labour, efficient utilization of economic resources, increase aggregate supply, reduces unemployment, and generate low inflation rate.  But unfortunately, the initial optimism expressed about public sector reforms has not been met.  This is evident in the steady decline since 1980s of private fixed investment in Nigeria which has adversely affected our growth rate (Bakare, 2011).  The reform program led to the privatization and commercialization of many state-owned enterprises; there have been some disappointing performances.  For instance, Nigeria continued to be confronted with low rate of economic growth.  Besides, the aggregate supply continued to diminish leading to demand-pull inflation.  One worrisome aspect of the result of public sector reforms in Nigeria is the extent of distress in the sector including high rate of unemployment which has greatly hampered the growth rate.  Hence, the need for a better understanding of the extent and the implication of these problems becomes crucial and it is the focus of this study. 
1. 3       OBJECTIVES OF THE STUDY
            The broad objective of this study is to investigate the impact of capital formation via savings and investment on growth of the Nigerian economy.
Thus, the specific objectives include;
        i.             To examine if there is any significant relationship between capital formation and growth in Nigeria.
      ii.             To determine the effect of other macroeconomic indicators on economic growth in Nigeria.
    iii.             To proffer policy recommendation for sustainable growth in Nigeria
1. 4       RESEARCH QUESTIONS
The following questions are to be answered, if the stated objectives are to be achieved;
        i.             To what extent does capital formation impact on the growth rate of Nigerian economy?
      ii.             Are there any significant relationship between capital formation and economic growth in the Nigerian economy?
1. 5       RESEARCH HYPOTHESES
H0: There is no significant relationship between capital formation and economic growth in Nigeria.
H1: There is a significant relationship between capital formation and economic growth in Nigeria.
1. 6       JUSTIFICATION OF THE STUDY
Nigeria is a richly endowed country with abundant human and natural resources.  The country is blessed with a variety of mineral deposits including petroleum, natural gas, uranium, tin, columbite, coal, precious metals and gemstones.  Over the last three decades, the country has earned over US$300 billion from oil sales.  In spite of this wealth, the country’s economy has tended to fluctuate widely over the years.  The average GDP growth was 1. 2 percent between 1979 and 1989, 2. 7 percent between 1989 and 1999 and 3. 5 percent between 2000 and 2008.  Inflation rate continued to increase with the purchasing power of the naira declining steadily over the years (Bakare, 2011).
Understanding the relationship between capital formation and economic growth would have significant implication to the state of the Nigerian economy.  This study is set up to cover the lapses of previous studies on this subject matter.  It is worthy to note that previous studies of the impact of capital formation on economic growth have basically been the study of the situation in advanced economies.  Isolated instances of the study in less developed countries have always been a cross-country analysis.  This study therefore hopes to study what the situation is in the Nigeria case.  The study looked further into the determinants of capital formation in Nigeria.
This work is set to determine the impact of capital formation in Nigeria.  Since economic literature has established that investment is a remedy to economic growth, a work of this nature is indeed expedient.  This work by providing a deeper understanding of the relationship between capital formation and economic growth in Nigeria will expose impediments to investment growth in Nigeria.
Moreover, previous studies were based on simple regression analysis and at other cases, a cross sectional data analysis.  But this study will be using the Augmented dickey fuller unit root test, the Johansen test of co-integration,  and the error correction mechanism analysis using time series data.  Also, previous studies covered the periods between 1970 and 2010 but this study captures the trend between 1980 and 2013.
1. 7       SOURCE OF DATA AND RESEARCH METHODOLOGY
This study covers thirty four years of observation (1980 to 2013).  The study is principally limited to the analysis of the Nigerian economy.  The data over these years of study are regressed and the research findings obtained are explored statistically and econometrically.
However, this work is limited to the use of secondary data sourced from secondary source; Statistical Bulletin, Annual Reports and Statement of Accounts of the Central Bank of Nigeria (CBN).  And also the publications of National Bureau of Statistics (NBS) are employed.
The analysis will be carried out with the use of Ordinary Least Squares technique (OLS), Augmented Dickey Fuller Unit Root Test, the Johansen test of co-integration, and the error correction mechanism analysis using time series data.     Test of statistical adequacy such as T-test, standard error test, coefficient of determination and Durbin-Watson will be carried out.  To facilitate the estimation process, a statistical package known as “E-VIEWS” will be employed.
1. 8       SCOPE AND PLAN OF THE STUDY
This study will cover the period 1980-2013; a sample size of 34 years is necessary in order to have enough observation for computation.
The study will be organized into five chapters.  Chapter one contains the background of the study, statement of problem, objectives of the study, research questions and hypothesis, the justification of the study, and scope and plan of the study.  Chapter two consists of empirical reviews as well as the theoretical reviews.  Chapter three covers theoretical framework, nature and sources of data, model specification, a priori expectation, restatement of hypothesis, method of analysis and the decision criteria.  Chapter four is on the presentation and analysis of data.  While Chapter five covers the summary of findings, conclusion and policy recommendation.

https://researchwap. com/economics/the-impact-of-capital-formation-via-savings-and-investment-on-growth-of-the-nigerian-economy-1980-2013/index. html

29
GENERAL DISCUSSION / STUDY OF TRADITIONAL CUSTOMARY USES OF WILDLIFE
« on: September 03, 2019, 08:10:28 PM »
PRELIMINARY STUDY OF TRADITIONAL CUSTOMARY USES OF WILDLIFE IN SOME SELECTED COMMUNITIES AROUND OKOMU NATIONAL PARK


CHAPTER ONE
INTRODUCTION
1. 1    Background of the Study
The African continent has an abundant and richly varied wildlife endowment surpassing most places on earth.  This endowment is a natural heritage for the present and future generations, with several beneficial uses of the wildlife resources.  It has some animals that are rare and not found in many places in the world. While wildlife has a wide array of benefits, economic benefits in many cases are perhaps the most emphasized.  Wildlife plays a major role in the economy in more than one way.  Principally, wildlife is an economic sector in its own right in terms of providing employment and contributing to the national income through earnings from wildlife tourism.
Apart from its economic value, wildlife has from time immemorial been a valuable natural resource in Africa, with several other traditional beneficial uses to society.  This does not in any way mean that wildlife can only exist with reference to its uses to human kind.  Indeed it has a right to exist in itself without such reference.  Nevertheless, there are three major traditional uses of wild animals in Africa, namely, uses for sociocultural purposes, nutrition and folk medicine.  These are what are referred to as “traditional customary uses” of wildlife.
Before the arrival of the colonialists, the indigenous African communities co-existed with wild animals, utilizing them as they needed, and in accordance only with African customary practices and values (Muriuki, 1996).  These communities hunted wild animals for food and other uses such as clothing, bedding and cultural purposes.  Many ethnic groups, however, had totem animals-animals believed to be sacred and which were therefore left unharmed or which could only be utilized for prayers or medicinal purposes.  Generally, there were traditional customs, rules, taboos, beliefs and practices of the various ethnic groups relating to wildlife (ODA, 1996).  With the advent of imperialism, things changed dramatically as all over a sudden the colonial governments imposed stiff laws on wildlife utilization, mainly on hunting and wildlife products.  Takirambudde has observed that colonialism in Africa created “a new legal order to replace the traditional structures and ideology” (Tarakimbudde, 1988).
Few people in Nigeria are fully aware of wildlife resources and the extent of their use.  Many conservation areas (national parks and game reserves) are being underutilized because of the lack of public enlightenment (Adeola 1983).  Wildlife has been utilized for the welfare of mankind in many parts of the world and has gained prominence as a revenue source in numerous African countries (Ajayi 1973, 1975b; Asibey 1972; Crawford 1968, 1974; Hartog et al.  1973).  If managed properly as a renewable natural resource, wildlife can provide a sustained source of protein for human consumption and also attract international tourists who bring foreign exchange.
Most farmers in rural areas in Nigeria depend solely on wild animals for their daily animal protein supply.  In some cases, farmers combine their subsistence farming with trapping, hunting, and encircling animals with fire, especially during the dry season.  In developed countries like the United States, hunting is primarily for recreation, but in Nigeria and most of the African countries, it is often for survival.
African farmers depend on bushmeat (all wildlife including birds, rodents, and larger animals) for both food and cash income.  Nigerian farmers are known to hunt no longer for their immediate domestic use alone, but largely to obtain meat to sell in the urban and other population centers where bushmeat is more expensive.  Ajayi (1978) estimated that 20 percent of the animal protein consumed by rural communities in the southern states of Nigeria is derived from bushmeat.  Several writers (including Akum 1978; Mossman 1975; Topps 1975; Deane et al.  1971; Johnston 1971) have also stressed the important role played by wild animals in the diet of people living in rural communities, especially in the coastal regions where cattle do not thrive because of tsetse flies and other disease vectors.  Riney (1967), Asibey et al.  (1975), and Asibey (1976a) confirmed that bushmeat constituted over 80 percent of the fresh meat consumed in Ghana.
The Okomu National Park, formerly the Okomu Wildlife Sanctuary, is a forest block within the 1,082 km² Okomu Forest Reservein the Ovia South-West Local Government Area of Edo State in Nigeria.  The park is about 60 km North West of Benin City.  The park holds a small fragment of the rich forest that once covered the region, and is the last habitat for many endangered species.  It continues to shrink as villages encroach on it, and is now less than one third of its original size Williams (2008).  Powerful corporations are involved in plantation development and logging concessions around the park, which also pose a threat Lutz (1998).
1. 2   Statement of the Problem
With the advent of the modern society there has been a paradigm shift from the traditional customary approach that emphasizes use to a western approach that emphasizes value.  Accordingly the contemporary value of wildlife includes economic value; ecological value; medicinal value; educational and scientific value; and recreational value.  This seems to relegate to the backyard the traditional customary uses of wildlife, which has largely upset the symbiotic relationship that has always existed between Africans and their wildlife.
1. 3   Objectives of the Study
The study sought to know the traditional customary uses of wildlife in some communities around Okomu National Park.  Specifically, the study sought to;
1.    examine the impact of the use of wildlife in traditional costumes in Okomu National Park.
2.    examine the challenges and problems of traditional customary uses of wildlife in Nigeria.
3.    examine the modern uses of wildlife in Africa.
4.    proffer solutions to the challenges and problems facing traditional customary uses of wildlife in Nigeria.
1. 4   Research Questions
1.    Is there a significant impact of the use of wildlife in traditional costumes in Okomu National Park?
2.    What are the challenges and problems of traditional customary uses of wildlife in Nigeria?
3.    What are the modern uses of wildlife in Africa?
4.    What are the solutions to the challenges and problems facing traditional customary uses of wildlife in Nigeria?
1. 5   Research Hypothesis
Ho: There is no significant impact of the use of wildlife in traditional costumes in Okomu National Park.
Hi: There is a significant impact of the use of wildlife in traditional costumes in Okomu National Park.
1. 6   Significance of the Study
This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work.  This study contributes to knowledge and could serve as a guide for other study.
1. 7   Scope/Limitations of the Study
This study is on preliminary study of traditional customary uses of wildlife in some selected communities around OkomuNational Park.



Limitations of study
1.    Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
2.    Time constraint: The researcher will simultaneously engage in this study with other academic work.  This consequently will cut down on the time devoted for the research work.
1. 8   Definition of Terms
Traditional:Existing in or as part of a tradition; long-established.
Customary:According to the customs or usual practices associated with a particular society, place, or set of circumstances.
Wildlife: Wild animals collectively; the native fauna (and sometimes flora) of a region.  Wildlife traditionally refers to undomesticated animal species, but has come to include all organisms that grow or live wild in an area without being introduced by humans.  Wildlife can be found in all ecosystems.


CLICK THE LINK TO GET THE COMPLETE WORK, FROM CHAPTER ONE TO CHAPTER FIVE  -  PRELIMINARY STUDY OF TRADITIONAL CUSTOMARY USES OF WILDLIFE IN SOME SELECTED COMMUNITIES AROUND OKOMU NATIONAL PARK


30

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2.  THE IMPACT OF BUDGET AND BUDGETARY CONTROL IN BANKING SECTOR (A Case Study of First Bank of Nigeria Plc. )
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12.  IMPACT OF THE BANKING SECTOR ON DISCHARGE OF SOCIAL RESPONSIBILITY BY SMALL SCALE BUSINESS ORGANISATION (A CASE STUDY OF TASHO ENTERPRISE AND LUWOJU HOTEL)
13.  APPRAISING / EXAMINE THE MONETARY POLICY OF THE CENTRAL BANK OF NIGERIAN ON COMMERCIAL BANKS IN NIGERIA.  (A CASE STUDY OF WEMA BANK PLC. )
14.  PROCEDURES AND APPRAISAL OF RISK MANAGEMENT FOR NON BANK FINANCIAL INSTITUTIONS.  (A CASE STUDY OF SHERRY GOLD NIGERIA LIMITED)
15.  AN EVALUATION OF THE PROBLEMS AND PROSPECTS OF MORTGAGE BANKING IN NIGERIA.  (A CASE STUDY OF FEDERAL MORTGAGE BANK)
16.  TREASURY MANAGEMENT STRATEGIES AND CHALLENGES IN THE BANKING INDUSTRY A COMPARATIVE ANALYSIS OF UNION BANK PLC AND UBA PLC
17.  THE IMPACT OF MARKETING STRATEGY ON DEPOSIT MOBILIZATION IN NIGERIA BANKS ( A CASE STUDY OF ZENITH INTERNATIONAL BANK)
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20.  THE IMPACT OF ORGANIZATIONAL STRUCTURE OF COMMERCIAL BANKS ON EFFICIENT CUSTOMER SERVICE IN NIGERIA (A CASE STUDY OF FIRST BANK PLC)
21.  COMPETITIVE STRATEGY AND ORGANIZATIONAL PERFORMANCE IN THE NIGERIAN BANKING INDUSTRY
22.  AN ASSESSMENT OF THE ROLE OF NDIC IN REGULATION AND SUPERVISION OF COMMERCIAL BANKS IN NIGERIA (Edo State as a case study)
23.  AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)
24.  THE ROLES OF BANKS IN PROMOTING SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA (CASE STUDY OF ZENITH BANK PLC)
25.  THE ROLE OF MANPOWER TRAINING AND DEVELOPMENT IN THE ACHIEVEMENT OF ORGANISATIONAL OBJECTIVES IN NIGERIA BANKING SECTOR (A CASE STUDY OF UNITED BANK FOR AFRICA PLC)
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31
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5.    MERGER AND ACQUISITION AS A VIABLE OPTION FOR EFFECTIVE PERFORMANCE OF BANKING INDUSTRY IN NIGERIA

6.    RELEVANCE OF CAPITAL BUDGETING TO THE PUBLIC SECTOR ORGANIZATION (A CASE STUDY OF IKORODU LOCAL GOVERNMENT)

7.    IMPACT OF TECHNOLOGY CHANGES IN ACCOUNTING PROFESSION

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10.    FINANCIAL ACCOUNTING RATIOS AS TOOLS FOR THE EVALUATION OF MANAGEMENT PERFORMANCE (A CASE STUDY OF NESTLE FOOD NIGERIA PLC)

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13.    ENTERPRISE RISK MANAGEMENT IN PHARMACEUTICAL COMPANY (A CASE STUDY OF FIDSON HEALTHCARE LIMITED. )

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20.    AUDITING PROCEDURE AND INTERNAL CONTROL SYSTEM {A CASE STUDY OF UNION BANK OF NIGERIA PLC}

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32
GENERAL DISCUSSION / CONFLICT MANAGEMENT IN LOCAL GOVERNMENT SERVICE
« on: August 27, 2019, 10:48:10 PM »
CONFLICT MANAGEMENT IN LOCAL GOVERNMENT SERVICE:
A CASE STUDY OF OJO LOCAL GOVERNMENT AREA


CHAPTER ONE
INTRODUCTION
1. 1 BACKGROUND TO THE STUDY
The term conflict specifically means breakdown of relationship between parties and this was corroborated by oxford English dictionary definition in which conflict was defined as a serious disagreement, on argument, a struggle, a fight.  The history of mankind cannot be devoid of conflict from the primordial age to the era of communal capitalism, feudalism up to the present.
A lot of attempts were recorded in capturing various sources of conflict and how it can be effectively managed.  In every organization where people of different backgrounds and interest have to interact in the collective effort towards achieving a common goal, conflict is bound to take place.  This is because every member of the organization comes from different places, background and brings to the workplaces his own personal interest, ambition, which he/she earnestly desires to achieve along organizational goals.  These individual goals may not necessarily be compatible with that of other members and as a result of this conflict will definitely come up in the organization:
Conflict management may be planned and formal or unplanned and verbal or physical ranging from passive resistance to active aggression.
Conflict takes place between individuals and between groups, between distinct organizations or groups within an organization and conflict no doubt is an important element of social interaction and apart from being a "negative " factor that "tear apart" conflict may contribute in many way to the maintenance of groups and collectivity as well as the cementing of inter personal relations.  A conflict is therefore endemic.  It is common knowledge that an organization needs peaceful co-existence for survival, which may be threatened by conflict. ? Conflict management is very crucial in the achievement of organization goals for proper understanding of each other actually when there are disagreement between the employees and employers over some issues like conditions of employment etc.  Karl Marx and some scholars say that industrialization is a mixed blessing, which has brought prosperity, strike and dispute in industries.  It is unthinkable to find any organization without conflict.
The local government, which is the third tier of the Executive arm of government, is established to meet the welfare needs of the local people.  Although the various local councils in the country were created in the early 50s to perform localized functions and to bring government closer to the people, the purpose of local government is essentially to promote democracy at the grassroots level and ensure service delivery.  A local government system may be recognized as either a single - tier or multi-tier local government.  It is single tier if it performs all the functions assigned to a local government within its area of jurisdiction and it is multi tier, if two or more local councils share responsibility for local services within a given local territory.  The management structure of local government takes the form of mayoral or mayor - council model.  The mayor (chairman) is a weak mayor, as he does not have the power to appoint, remove and supervise the entire administrative staff.  The ubiquitous presence of conflict can hinder the local government in discharge of its constitutional duties.  The activities of various social groups in the local government if not effectively controlled or managed can be costly in terms performance and reputation.  In fact any organization without conflict is as good as dead.  Conflict can only be dysfunctional or harmful where there is no machinery that is put growth of the organization.
Conflict management expressed in what ever form pose cost to all industrial relations actors, certain machinery have to put in place for emerged overtime and new approaches are being worked out to reduce the effect of conflict in both public and organized private sector in order to prevent the development of all forms of costly expression of industrial discontents.

CLICK HERE FOR THE COMPLETE MATERIAL - CONFLICT MANAGEMENT IN LOCAL GOVERNMENT SERVICE:
A CASE STUDY OF OJO LOCAL GOVERNMENT AREA

33
ATHE USE OF COCONUT FIBRE AS STANDARD pH ENHANCER FOR DRILLING MUD FORMULATION


CHAPTER ONE
BACKGROUND OF STUDY
1. 0 Introduction
A drilling fluid, or mud is any fluid that is used in a drilling operation in which that fluid is circulated or pumped from the surface, down the drill string, through the bit, and back to the surface via the annulus. (GrowCo*k et al. , 2005). The successful and cost of a drilling process is known to depend extensively on the asset of the drilling fluid used (Gray et al. , 1980).  Drilling mud circulates in a loop, from the platform, where it is forced down into the formation by entering the drill string, and pushed up to the surface again via the drill bit.  The fluid characteristics such as density and temperature are variables that need to be regularly monitored for perfect drilling conditions of the well (Issham et al.  1985).  They provide primary well control of subsurface pressures by a combination of density and any additional pressure acting on the fluid column (annular or surface imposed).  They are most often circulated down the drill string, out the bit and back up the annulus to the surface so that drill cuttings are removed from the wellbore.  Drilling fluids have a number of alternative names, acronyms and slang terms used within the industry.  The most widely used name is “mud” or “drilling mud” and both these terms will be used interchangeably throughout this chapter.  Other drilling fluid names and acronyms are: water-based mud (WBM), oil-based mud (OBM), synthetic-based mud (SBM), non-aqueous fluid (NAF), invert emulsion fluid (IEF), high performance water-based mud (HPWBM), drill-in fluid (DIF) and reservoir drilling fluid (RDF).  Similar to drilling fluids are so-called completion fluids that are used to finish the well after drilling is completed.  The fluids used during completions are often referred to as work over and completion (WOC) fluids, clear brines and/or packer fluids.  Drilling fluid is a major factor in the success of the drilling program and deserves careful study. 
 
Figure 1. 0: Drilling fluids stored in the mud tank under agitation.

The performance of the drilling fluid is critical to everyone involved with the operation and to all aspects of the drilling operation.  The drilling fluid is the primary means to keep the well from blowing out and it is responsible for keeping the hole in good condition such that drilling operations can continue to the desired depth.  Drilling and completion fluids are one of the most important parts of the well construction process and ultimately the performance of the fluid will determine the success or failure of the operation.  The responsibility of the proper selection and application of fluid is held jointly between the fluids supplier, the drilling contractor and the operator. 

The research work focused on the use of Nigeria local materials in enhancing the drilling mud pH, its performance and contribution as drilling fluid properties and ensuring quality in hole making.  Drilling fluid pH measurements and pH adjustments are fundamental to drilling fluid control because clay interactions, solubility of additives, and contaminant removal are all pH-dependent.
PH is a value representing the hydrogen ion concentration in liquid and it is used to indicate acidity or alkalinity of drilling mud.  The pH is presented in a numerical value (0 – 14), which means an inverse measurement of hydrogen concentration in the fluid.
The pH formula is listed below;

pH = - log 10 [H]

Where: H is the hydrogen ion concentration in mol.

According to the pH formula, the more hydrogen atoms present, the more acidity of substance is but the pH value decreases.  Generally speaking, a pH of 7 means neutral.  Fluids with a pH above 7 are considered as being alkaline.  On the other hand, the fluids with pH below 7 are defined as being acidic.
In the drilling mud, there are three main chemical components involved in Alkalinity of drilling fluid, which are bicarbonate ions (HCO3--), hydroxyl ions (OH --), and carbonate ions (CO3-2).  The Alkalinity means ions that will reduce the acidity.
In order to get accurate measurements for the pH, using a pH meter instead of using a pH a paper is recommended because it will give more accurate pH figures.  Additionally, pH meters must be calibrated frequently.
CLICK HERE FOR THE COMPLETE THESIS - THE USE OF COCONUT FIBRE AS STANDARD pH ENHANCER FOR DRILLING MUD FORMULATION

34

DEPARTMENTS AND PROJECT TOPICS
1.    AFRICAN LANGUAGES AND LINGUISTIC DEPARTMENT[/ur
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3.    BREWING SCIENCE AND TECHNOLOGY DEPARTMENT
4.     ACCOUNTING DEPARTMENT
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6.     ACTUARIAL SCIEN CE DEPARTMENT ADULT EDUCATION DEPARTMENT
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43.     FOOD SCIENCE & TECHNOLOGY DEPARTMENT
44.     FORESTRY WILDLIFE DEPARTMENT
45.    FRENCH DEPARTMENT GENERAL EDUCATION DEPARTMENT

46.    GEOGRAPHY DEPARTMENT
47.    GEOGRAPHY EDUCATION DEPARTMENT[/ur
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52.    HEALTH EDUCATION DEPARTMENT
53.    HISTORY & INTERNATIONAL RELATIONS DEPARTMENT
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55.    HUMAN RESOURCE MANAGEMENT DEPARTMENT
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35
THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA (A Case Study of Shell Petroleum Development Company of Nigeria). 

ABSTRACT
The study was conducted on the Accounting for Human Resources in the oil and gas industry in Nigeria (A Case Study of Shell Petroleum Development Company of Nigeria).
Different set of people in the company were interviewed and questioned for the purpose of the study. 
The data were gathered through the administration of questionnaire to respondents from different department status in the organization.
The results were analysed based on a simple percentage and interpreted under discussion of results.  Finding of analysis were used to give recommendation to problems identified in the study.  While the hypothesis were tested using chi-square method statistical tools for hypothesis testing. 
The major findings conclusions at the study among others are:
-      Loss of revenue to the company will occur if the department continues in their current practice of not informing the human resource department about when their contract staff is on leave so that they would not be paid during such period.
-      Loss of revenue to the government will occur, results of 5% withholding tax payment by the contract staff which is not properly computed by the company. 
CHAPTER ONE
INTRODUCTION
1. 1   BACKGROUND OF THE STUDY: THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA (A Case Study of Shell Petroleum Development Company of Nigeria). 
It is well know fact that the Nigeria major sources of revenue is from oil gas sector of the economy.  This account for over 80% of the total revenue generated by the government in the recent past.  the Nigeria foreign resources has increased tremendously due to the high price of petroleum product all over the world.  This has brought some level of confidence to the foreign investors to invest in the Nigeria economy and stability in the exchange rate of the Nigeria currency.
As the importance of this sector cannot be over emphasized, it is pertinent to see that those companies that are engaged in exploration of the crude oil carry out their activities in an effective and efficient manner.
My focus of this research will be based on accounting for human resources in the oil and gas industry, a case study of shell petroleum Development Company of Nigeria limited.
The topic was chosen because of my concern as to determine the treatment being meted out to personnel in the industry.
This research projects is based on the human resources accounting of shell petroleum Development Company of Nigeria limited.  It focuses at the points highlighted in the proposal.  Before I proceed, would like to present the followings
Structure of the Oil Industry
Most of the oil in Nigeria comes form the Niger Delta and six major companies of which SPDC is the largest.  The others are EXXON, Mobil, Chevron Texaco, Agip, Total Fina ELF, and Texaco.  All these operations are joint ventures with the government holding a majority share of between 55. 60 percent, through the NNPC (Nigeria National Petroleum Corporation).
National Oil Companies
NNPC and its subsidiaries are senior partners in all the major upstream ventures.  They have extensive domestic operations, especially downstream.  They own large reserve of oil and gas and enjoy a monopoly of refining and petrol chemicals.  NNPC depends on the government for fondling and has limited access to international capital markets.
Major Oil Companies
Shell, Exxon, Mobil, Chevron, Agip, Total Fina ELF, Texaco, ESSO, Canoco.
These companies operate internationally and have a strong financial hue.  They have considerable technological know how and extensive information networks.  They are commercially and markets driven with strong links to head offices and sister companies world wide.  Their activities in Nigeria usually relate to upstream operations.
Independent Oil Companies
Addax, Amni, Atlas, Brass, Cavendish, Consolidated, Continental, Dobril, Express, Famfa, Montorief, Penk, Sommit and others.  These are mostly indigenous companies, but often operating with foreign technical partners.  They compliment the role of the major players and national oil companies.
Service and Supply companies
Sdilom Berger, Halliborton, western Alas, Baroid Cameron, Bj Hoghes MI.  Drilling Fluids and others.
These companies provide services to the oil industry.  They are mainly multinationals with a strong R & D base and skilled manpower.  Nigeria companies are now making inroads in this sector ,e. g.  lonstar Drilling Savsco well services and others. 
CLICK HERE FOR THE COMPLETE WORK - THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA (A Case Study of Shell Petroleum Development Company of Nigeria).   


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THE EXTENT OF RELIANCE ON ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION IN CORPORATE ORGANIZATION

CHAPTER ONE
INTRODUCTION
1. 1.     BACKGROUND TO THE STUDY
Accounting information is an ingredient in most, if not all, financial managerial decisions.  In developed economies, these decisions are worth billions of dollars each year.  In some cases, the decisions are lacking in quality.  Consequently, if researches can improve decision making through improved information, society will benefit.
As we all know, accounting speaks the language of business as it records all transactions of an individual firm or other bodies that can be expressed in monetary terms.   Predicated on the going concept, accounting is the scheme and art of collecting, classifying, summarizing and communicating data of financial nature required to make economic decisions in a corporate organization.
Accounting information can be used to translate these different dimensions into a common financial dimension.  Accounting information uses formalized categories for collecting and reporting information that creates a common language with which members of the organization can communicate.  Formalization permits the transmission of information with fewer symbols and this facilitates the coordination between different functions that need to provide input to the decision-making process.  However, accounting information is also an imperfect representation of the underlying decision problem, since not all aspects involved can be quantified perfectly in financial numbers (Galbraith, 1973).
Accounting information may help managers to understand their tasks more clearly and reduce uncertainty before making their decisions (Chong,1996).  We talk about uncertainty as a lack of information compared to what a decision-maker needs to make a decision (Galbraith, 1973), and the less managers are able to predict the outcomes from their actions, the more uncertainty there is.
According to Ademola et al (2012), accounting information is essential to business management.  It involves identification, classification, storage and protection, receipt and transmission, retention and disposal of records for preparation of financial statements.
Accounting information serves as a critical tool for recording, analyzing, monitoring and evaluating the financial condition of companies, preparation of documents necessary for tax purposes, providing information support to many other organizational functions,(Amidu et al. , 2011).  In the context of corporate organisation, accounting information is important as it can help the firms manage their short-term problems in critical areas like costing, expenditure and cashflow, by providing information to support monitoring and control.
 The range of accounting information users is a broad one, and it has different information needs, but the same quality requirements in terms of accounting information contained in the financial statements.  Even if a number of criticisms and limitations can be brought and attributed to accounting information, it remains the most important substantiation source of financial decisions for most corporate organizations.
Finally, accountinginformation is an ingredient in most, if not all, financial managerial decisions.  In developed economies, these decisions are worth billions of dollars each year.  In some cases, the decisions are lacking in quality.  Consequently, if researches can improve decision making through improved information, society will benefit, it also produces results which enhances decision making in the organization.  Hence, it can safely be concluded that Accounting information is not an end in itself but a means to an end . i. e.  decision making to improve corporate performance, and also produces detailed and comprehensible accounting information which are invaluable basis for decision making in a corporate organization.
CLICK HERE FOR THE COMPLETE WORK - THE EXTENT OF RELIANCE ON ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION IN CORPORATE ORGANIZATION

37
ASSESSING THE IMPACT OF ACCOUNTING SOFTWARES IN THE PROCESSING OF ACCOUNTING INFORMATION
CHAPTER ONE
INTRODUCTION
1. 1 BACKGROUND TO THE STUDY
Accounting takes an important role in operating an organization.  Every business must keep track of financial information that relates to its business activities.  It also has numerous processes; some simple, others complex and burdensome.  But as the business grows, acquires new customers, enters new markets and keeps pace with constant changes in information technology, companies need to maintain highly accurate and up-to-date accounting, inventory and statutory records (Igbaria et al, 1997).  With a substantial increase in the volume of accounting transactions and increase in exposure of information to errors due to complexity of these accounting systems, there was a need for a system which could store and process accounting data with increased speed, storage, and processing capacity.  This led to the development and introduction of accounting software packages (Igbaria et al, 1997).
Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance.  It functions as an accounting information system.  It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with local modifications (Wikipedia, 2016).  Accounting software may be on-line based, accessed anywhere at anytime with any device which is Internet enabled, or may be desktop based.  It varies greatly in its complexity and cost.  The market has been undergoing considerable consolidation since the mid-1990s, with many suppliers ceasing to trade or being bought by larger groups.
In many cases, implementation of accounting software (i. e.  the installation and configuration of the system at the client) can be a bigger consideration than the actual software chosen when it comes down to the total cost of ownership for the business.  Most midmarket and larger applications are sold exclusively through resellers, developers and consultants.  Those organizations generally pass on a license fee to the software vendor and then charge the client for installation, customization and support services.  Clients can normally count on paying roughly 50–200% of the price of the software in implementation and consulting fees.
With the advent of faster computers and internet connections, accounting software companies have been able to create accounting software paid for on a monthly recurring charge instead of a larger upfront license fee.  The rate of adoption of this new business model has increased steadily to the point where legacy players have been forced to come out with their own online versions.  Cloud accounting software seems to more rapidly adopted by areas where prices are generally higher due to higher shipping costs and price discrimination practices (Chau, 2001).
The use of accounting software will shorten the data processing time that usually takes a longer time if it is done manually and processing can be accelerated significantly and with a better level of accuracy.  American institute of Certified Public Accountant (AICPA) has created a new certificate of Certified Information Technology Professional (CITP).  The CITP is certification for the accountants who have a broad knowledge in the field of technology and understand how the information system technology can be used in a variety of organizations.  This reflects the AICPA recognition of the importance of information technology systems in relation to accounting (Agarwal & Prasad, 1997).
An accounting student is required to be able to follow information technology developments because by understanding and knowing the technology progress and development, students can implement the accounting information system technology, which is expected to make the student more competent, especially in the field of information systems technology.  Accounting students are required to become competent accountants, for example, in the field of information systems technology.  This is supported by the number of companies that expect accounting graduates to have a good knowledge of accounting, which is supported with specific expertise (soft skills) in the information systems technology field, such as accounting software.

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WORLD EVENTS / PROJECT TOPICS AND RESEARCH PROJECT MATERIALS
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