The title of this work is “problems and prospects of Research institute Accounting / financing in Nigeria” with particular reference to project development Institute (PRODA) Enugu. It has been identified that accounting and financing reporting in the public sector particularly in the research institutes was not given adequate attentions.
In the course of carrying out this study, the following objectives among others were set which includes: The identification of major causes of maladies in the financial system of PRODA TO examine the accounting department to find out if it is managed by component and qualified personnel’s to examine whether the source of income to PRODA is enough, to examine the various instrument of management and control of PRODA finance, to examine the various problems of PRODA finances and accounts and to examine the prospects of improving the available sources of PRODA finances.
To achieve this sets of objectives, some hypothesis were formulated which comprised: The Accounting system of PRODA is not effective in providing information for planning and research. The fund allocated to PRODA is not enough to finance the expenditure project for which they were made, increase in federal government allocation and internal generated fund would not be adequate to defray the increase mandate of PRODA.
Two-board research methods were adopted in the study, which were personal interviews and fully designed and well structured questionnaires for the purpose of analyzing.
As a result of contentious and of course pars taking study done, a lot of finding were made which included; inter-allia, there was an ample proof that PRODA lacks accounting personnel and training of accounting personnel, it was equally detected that the accounting system and internal control were effective in operation.
The fund allocation to PRODA was not enough to finance the expenditure projects for which it was made. The internal generated fund or revenue was not encouraging to improve the financial base to an admirable extent of the institute.
As a result, the following recommendations were proffered efforts to be intensified to recruit more accounting personnel and training of existing ones.
TABLE OF CONTENTS
TABLE OF CONTENT(vi)
1.1 OBJECTIVE OF STUDY
1.2 SIGNIFICANCE OF STUDY
1.3 SCOPE OF THE STUDY
1.4 LIMITATION OF STUDY
1.5 DEFINITION OF TERMS
2.1 DEVELOPMENT OF GOVERNMENT ACCOUNTING SYSTEM
2.2 OBJECTIVE OF PUBLIC SECTOR ACCOUNTING
2.3 LEGAL BASIS OF GOVERNMENT ACCOUNTING
2.4 FEDERAL GOVERNMENT ACCOUNTING
2.5 STATUTORY BASE OF RESEARCH INSTITUTE FINANCE IN NIGERIA
2.6 FUNCTION OF PRODA
2.7 SOURCES OF PRODA REVENUE
2.8 PRODA EXPENDITURE
2.9 MANAGEMENT AND CONTROL OF PRODA FINANCE
3.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
3.1 SUMMARY OF FINDINGS
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