Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala

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





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APA

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

MLA 8th

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 22 Nov. 2024.

MLA7

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. 22 Nov. 2024. < https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala >.

Chicago

Research, SSA . "Accounting Standards And Financial Reporting In Uganda Police Force. A Case Study Of Naguru Police Headquarters-Kampala" Afribary (2022). Accessed November 22, 2024. https://afribary.com/works/accounting-standards-and-financial-reporting-in-uganda-police-force-a-case-study-of-naguru-police-headquarters-kampala