ABSTRACT
This project is on “The Extent of Accounting Record Keeping in Private Organization” with special reference to selected private organization in Sapele which is Eternit Ltd. Chapter one deals with background of the study, statement of the problem, objective of the study, significance of the study, scope of the study and limitation of the study. Chapter two is literature review where authorities in the field of accounting were discussed. Chapter three contained the methodology of the research, under this chapter, the method employed to source for data is both primary and secondary source. The statistical tool employ is the use of table and simple percentage. Chapter four is the data presentation and analysis of result while chapter five entails the summary of findings, conclusion and recommendations. The researcher observe that the recording of transaction has helped private business and organization. He therefore recommend that management of private organization should engage the service of trained officers who will help the day-to-day records of the business.
TABLE OF CONTENTS
Title i
Approval ii
Certification iii
Dedication iv
Acknowledgement v
Abstract vi
Table of content vii
CHAPTER ONE: INTRODUCTION
- Background of the study 1
- Statement of the problem 2
- Objective of the study 2
- Research question 3
- Significance of the study 3
- Scope of the study 4
- Limitation of the study 4
- Definition of terms 5
CHAPTER TWO: LITERATURE REVIEW
- Introduction 6
- History of Accounting 6
- Definition of Accounting and Bookkeeping 8
- Users of Accounting Information 9
- Importance of Accounting 10
- Field of Accounting 10
- Summary of the Literature review 12
CHAPTER THREE – RESEARCH METHODOLOGY
- Research Design 13
- Population of the Study 13
- Sample Size 13
- Sampling Techniques 13
- Research Instrument 13
- Validation of the Instrument 14
- Reliability of the Instrument 14
- Method of Data Collection 14
- Method of Data Analysis 15
CHAPTER FOUR – PRESENTATION AND ANALYSIS OF DATA
4.1 Introduction 16
CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Introduction 25
5.2 Summary 25
5.3 Conclusion 26
5.4 Recommendations 26
References 27
Appendix 28
Questionnaire 29
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
In turbulent time, business has to be managed properly in order to withstand the changes in the environment and also proper accounting records has to be kept, for it to protect itself from unexpected rent such as business failure and eventual close up/wind – up. In every profit making business enterprise, proper financial for accounting records and investment decision. Therefore the success or failures of every business organization solely depend on proper accounting record keeping. Accounting as a process of recording, Classifying, selecting, measuring, interpreting and communicating finance data of an organization to enable users make assessment and decision according to him accounting is a discipline which comprises a set of theories and concepts for processing financial data into information.
- Statement of the Problem
The extent of accounting record keeping in prevent organization is a significant nature. But some private organizations have to be treated with some problems, which result to their winding up. These include:
- Lack of permanent and systematic record keeping for financial transaction.
- Lack of recording the expenses incurred.
- Lack of position in the efficient running of a business over a given period.
- Lack of recording and assessment of profit or loss made at any given time.
All theses are the problem the research wants to address in a private organization.
- Objectives of the Study
The objective of the visible importance to high light the visible importance of the extent of accounting records keeping in private organization. The research will be of a great aid to government and small scale in enlightened them on the need to keep day to day financial record in the organization.
- Research Questions
For the purpose of this study the following research question is formulated.
- How do you keep record in your organizations?
- Why are accounting records necessary in your organization?
- How did accounting records help improving the growth of your organization?
- What are the types of accounting book kept in your organization?
- Significance of the Study
The research will help many organization concerned on the need for accounting records kept and make them understand that accounting;
- Enable business organization to keep their record so that organizations will know the profit made or loss incurred in a given period.
- Help to determine the financial position of the organization at any determine period.
- Reduce to case of fraud associated with improper record keeping by the management or book keeping.
- Scope of the Study
As we all know accounting is a very wide field of study, but the researcher limited to the researcher limited to the extent of accounting records keeping in private organization with special reference to eternity study.
- Limitation of Study
The problem of financial constraint which prevented the researcher from traveling to source for some material needed to complete this work, also time factor is another problem encountered by the research that is time available was not enough.
By reason of the above limitation it was virtually impossible to get as much as information anticipated for this research study.
- Definition of Terms
- Turbulent: It means disorder.
- Accounting: This is the process of recording, classifying selecting, measuring interpreting and communicating financial data of an organization to enable user’s male assessment and decision.
- Profit: this is a reward which becomes due to owners of a business as a result of successful period of trading.
- Book Keeper: This is a person who undergone a formal or professional trading in the process of accounting and also belong to at least one of the recognized professional accounting bodies such as the (ICAN).
- GAAp: General accepted accounting principle.
- CAN: Institute of chartered accountants of Nigeria.
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