TABLE OF CONTENTS
Table of contents
1.2 Statement of the problem
1.3 Objective of the study
1.4 Scope of the study
1.5 Limitation of the study
1.6 Plan of study.
1.7 Definition of terms
2.0 Review of related literatures
2.2 Verification procedures
2.3 Principles of verification of fixed asset and liabilities
2.4 Types of evidence available for verification
2.5 Verification procedures of fixed asset
3.0 Research methodology
3.2 Population of the study
3.3 Sample and sampling desicin
3.4 Source of data
3.5 Method of data collection.
3.6 Limitation of the study
4.2 General discussion
4.3 Verification of fixed assets
4.4 Verification of motor vehicle cost
4.6 Verification of building cost
4.7 Verification of bank loan
5.0 Summary, coclussion and recommendation
Traditionally accounting of asset and liability verification is different from application of economic theory. In the past fixed asset and liability were of ten verified in term of their market value. But recently, historical method has been in use by referring to invoices and primary date available. However, this method suffers for major limitation of liability to consider price change created inflation which at present had been affecting our economy greatly. Despite the supremacy of market value which in dictates the current replacement Cost, the historical cost method of cost ascertainment would be used. this is simple. Because the inability to obtain market value and due to the fact that market value has been changing at an alarming and irregular manner, moreover, such method may not be useful for purpose of preparing an annual financial statement, but useful for presentation. Appropriate verification enables the correct financial position to be disclosed and also help in knowing where a company presently stands such information do reveal general strength and weakness of a company.
Frontiers, E. & Faith, A (2021). An Assessment of the Impact of Asset and Liability Verification in a Company (A Case Study of Global Soap and Detergent Industry Nigeria Ltd). Afribary. Retrieved from https://afribary.com/works/an-assessment-of-the-impact-of-asset-and-liability-verification-in-a-company-a-case-study-of-global-soap-and-detergent-industry-nigeria-ltd
Frontiers, Edu, and Anifowose Faith "An Assessment of the Impact of Asset and Liability Verification in a Company (A Case Study of Global Soap and Detergent Industry Nigeria Ltd)" Afribary. Afribary, 15 Dec. 2021, https://afribary.com/works/an-assessment-of-the-impact-of-asset-and-liability-verification-in-a-company-a-case-study-of-global-soap-and-detergent-industry-nigeria-ltd. Accessed 21 Jan. 2022.
Frontiers, Edu, and Anifowose Faith . "An Assessment of the Impact of Asset and Liability Verification in a Company (A Case Study of Global Soap and Detergent Industry Nigeria Ltd)". Afribary, Afribary, 15 Dec. 2021. Web. 21 Jan. 2022. < https://afribary.com/works/an-assessment-of-the-impact-of-asset-and-liability-verification-in-a-company-a-case-study-of-global-soap-and-detergent-industry-nigeria-ltd >.
Frontiers, Edu and Faith, Anifowose . "An Assessment of the Impact of Asset and Liability Verification in a Company (A Case Study of Global Soap and Detergent Industry Nigeria Ltd)" Afribary (2021). Accessed January 21, 2022. https://afribary.com/works/an-assessment-of-the-impact-of-asset-and-liability-verification-in-a-company-a-case-study-of-global-soap-and-detergent-industry-nigeria-ltd