ABSTRACT
The study was aiming at assessing the effectiveness of accounting standards
and financial reporting. The information or data was taken from Uganda Police
Force.
The research identified things from the Police Force Account Department using
the financial statements, also it identified the role of financial statements
within the organization and to the users and how it has helped them in all the
proper management of the force for the proper decision making, not only that,
but also other things including the limitations and factors hindering effective
use of accounting standards and financial reporting within the organization.
Based on conclusion from the research study, different recommendations to
police force and its management have been recommended for better
improvement and development of the accounting services; i.e. training the staff,
improve accounting system in use, and also increase the number of staff in
accounting and finance department
TABLE OF CONTENTS
DECLARATION .......................................................................................................................................... i
APPROVAL SHEET .................................................................................................................................. ii
DEDICATION ........................................................................................................................................... iii
ACKNOWLEDGEMENT ......................................................................................................................... iv
LIST OF ABBREVIATIONS ................................................................................................................... ix
ABSTRACT ................................................................................................................................................. x
LIST OF FIGURES .................................................................................................................................. xi
CHAPTER ONE ............................................................................................................................. 1
1.0 Introduction ....................................................................................................................................... 1
1.1 Background ....................................................................................................................................... 1
1.2 Statement of the problem .............................................................................................................. 2
1.3 Purpose of the study ....................................................................................................................... 3
1.4 objectives of the study .................................................................................................................... 3
1.5 Research Questions ........................................................................................................................ 3
1.6.0 Scope of the Study ....................................................................................................................... 4
1.6.1 Time Scope ..................................................................................................................................... 4
1.6.2 Content Scope ............................................................................................................................... 4
1.6.3 Geographical Scope ..................................................................................................................... 4
1.7 Conceptual Framework. ................................................................................................................. S
1.8 Significance of the Study ............................................................................................................... 6
V
CHAPTER TWO ............................................................................................................................ 7
LITERATURE REVIEW ............................................................................................................... 7
2.0 lntroduction ....................................................................................................................................... 7
2.1 Accounting Standards .................................................................................................................... 7
2.1.1 Definition of Accounting Standards ....................................................................................... 7
2.1.2 The Evolution of International Standards ........................................................................... 7
2.1.3 The international standard setting process ........................................................................ 8
2.1.4 The International Accounting Standards Committee ....................................................... 9
2.1.4.1 Objectives of the International Accounting Standard Committee ............................ 9
2.1.5 The authority attached to IFRSS and IFRIC interpretations ....................................... 10
2.1.6 The acceptance of International Standards ...................................................................... 10
2.2 The usefulness of IFRS to a developing country like Uganda ......................................... 11
2.3 Other international accounting standards setting bodies ................................................ 13
2 .4 The concept of financial reporting ............................................................................................ 14
2.4.1 Users .............................................................................................................................................. 15
2.4.2 Characteristics of useful information .................................................................................. 18
2.5 Constraints on the relevance and reliability of financial reporting ............................... 20
2.6 True and fair view /fair presentation ....................................................................................... 21
2.8 The relationship between accounting standards and financial ...................................... 21
Reporting .................................................................................................................................................. 21
CHAPTER THREE ...................................................................................................................... 23
METHODOLOGY ........................................................................................................................ 23
3.1 Research design ............................................................................................................................. 23
3.2 Study population ........................................................................................................................... 23
3.3 Sample design ................................................................................................................................. 23
vi
3.4 Sample size ...................................................................................................................................... 24
3.4 Research instruments/tools ...................................................................................................... 24
3.5 Validity and Reliability of the instrument .............................................................................. 25
3. 6 Research Procedure ...................................................................................................................... 25
3. 7 Preparing a questionnaire to the respondent.. ..................................................................... 25
3.7.1 Data Analysis .............................................................................................................................. 25
3.8 Limitations of the study ............................................................................................................... 26
CHAPTER FOUR ........................................................................................................................ 27
PRESENTATION, INTERPRETATION AND ANALYSIS OF DATA ................................... 27
4.1 Presentation of Demographic Data .......................................................................................... 27
4.1.1 Distribution of the said respondent by gender. ................................................................ 27
4.1.4 Distribution of the respondents by age .............................................................................. 34
4 .1.5 Distribution of respondents according to their departments ...................................... 34
4.2 IAS 1: Presentation of Financial Statements and Reporting Standards ...................... 37
4.3 Objective ........................................................................................................................................... 39
4.4 Scope .................................................................................................................................................. 40
4.5 Definitions ........................................................................................................................................ 40
4.6 Presentation and Disclosure ...................................................................................................... 41
4.7 Illustration: Data Analysis .......................................................................................................... 43
CHAPTER FIVE .......................................................................................................................... 47
SUMMARY OF FINDINGS: CONCLUSION AND RECOMMENDATION ........................... 47
5.1 Summary .......................................................................................................................................... 47
5.2 Conclusion ....................................................................................................................................... 48
5.3 Recommendations ......................................................................................................................... 49
vii
REFERENCES ........................................................................................................................................ 50
APPENDICES .......................................................................................................................................... 52
APPENDIX I: ............................................................................................................................................ 52
QUESTIONNAIRE FOR THE ACCOUNTING STANDARDS AND ............................................. 52
FINANCIAL REPORTING IN UGANDA POLICE FORCE ............................................................ 52
APPENDIX II: INTERVIEW GUIDE ON FINANCIAL REPORTING ......................................... 54
APPENDIX III: ESTIMATED BUDGET ............................................................................................. 55
APPENDIX IV: TIME FRAME WORK ................................................. 56
Research, S. (2022). Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala. Afribary. Retrieved from https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala
Research, SSA "Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala" Afribary. Afribary, 30 Aug. 2022, https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala. Accessed 07 Nov. 2024.
Research, SSA . "Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala". Afribary, Afribary, 30 Aug. 2022. Web. 07 Nov. 2024. < https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala >.
Research, SSA . "Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala" Afribary (2022). Accessed November 07, 2024. https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala