Home » Project Material » Accounting Procedure In Post Primary Institutions

Accounting Procedure In Post Primary Institutions

(A Case Study Of Udenu Local Government Area)

5 Chapters
|
122 Pages
|
11,902 Words
|
ACCOUNTING

INSTRUCTIONS:

  • You are perusing the project material titled “Accounting Procedure In Post Primary Institutions.”
  • The project material on Accounting Procedure In Post Primary Institutions is available for instant download.
  • Preview Chapter One of Accounting Procedure In Post Primary Institutions at no cost.
  • To access the complete project material for Accounting Procedure In Post Primary Institutions, kindly make a donation to support the ongoing maintenance and operation of this website.
  • The provided work on Accounting Procedure In Post Primary Institutions is intended solely for academic research purposes and should be utilized strictly as a set of guidelines.
  • Our objective in distributing Accounting Procedure In Post Primary Institutions is to aid individuals unfamiliar with project research, specifically writers seeking assistance in this area.
  • Kindly refrain from directly replicating the content provided in Accounting Procedure In Post Primary Institutions materials.
  • Feel free to reference “Accounting Procedure In Post Primary Institutions” in your work, provided that you paraphrase appropriately.
  • Unauthorized reproduction of Accounting Procedure In Post Primary Institutions content is prohibited under our Terms of Use.
  • UniProjects assumes no responsibility if you replicate the content of this Accounting Procedure In Post Primary Institutions.
ABSTRACT

Revenue could be defined as income to any organization, institution from or government but in the present circumstances. Accounting procedure in post Primary Institutions means the process or system by which the various government approved fees there are collected and accounted for, by accredited revenue collectors.
Revenue is there to the government as blood is to human being;
This study highlights some of the problems as :
a. organizational problems
b. personnel problems and
recommendation that those equipment’s and encouragement should be adequately provided incentives given to Bursars for dedication towards increasing their pace of revenue collection accounting for them to maximize government accounting policies.
Again, principals should collect only approved fees. Besides, Principals and Bursar, need to attend courses regularly for modern trends in accounting which is guard towards public accountability.

TABLE OF CONTENT

Title page
Approval page
Dedication page
Acknowledgement
Abstract
Table of content

CHAPTER ONE
1.0. INTRODUCTION
1.1. Statement of problem
1.2 Objective of the study
1.3 Significance of the study
1.4 Statement of hypothesis
1.5 Scope of the study
1.6 Limitations of the study
1.7 Definition of terms

CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 Development of Accounting in Post Primary Institution
2.2 Source of fund in Post Primary institution
2.3 Techniques involved in collecting the funds or depositing
2.4 Management compliance to the collection of the funds
2.5 Accounting for revenue in tutorial system
2.6 Proper and efficient documentation of all monies collected

CHAPTER THREE
1.0 RESEARCH DESIGN AND METHODOLOGY
1.1 Source of data
1.2 Primary data
1.3 Secondary data
1.4 Sampling procedures
1.5 Method of investigation

CHAPTER FOUR
4.0 Presentation and Analysis
4.1 Data presentation and Analysis

CHAPTER FIVE
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Findings
5.2 Conclusion
5.3 Recommendation
BIBLIOGRAPHY
REFERENCES

CHAPTER ONE

1.0 INTRODUCTION
1.1 STATEMENT OF THE PROBLEMS
The study is designed to evaluate of assess the accounting procedure in post primary institution, notability in Udenu local government area, is the procedure in use efficient, secondly does the system suit the current trend of events.
There were glaring evidence of poor accounting post primary institution some of such flaws as could be observed in the old order was non-uniformly in the accounting system of schools given rise to poor its own receipts booklet.
That did not stop there, such printing of receipt booklets was not even controlled within the school level notably there was poor internal central measures. In the present day, school accounting the other has changed. There is new uniform accounting system in Udenu local government area in particular and the entire system in general. The internal audit unit has also designed a uniformed revenue by weekly and monthly return format. In other words, internal control measure have reasonably improved. There is a central supply of revenue cash receipts booklets from ministry of finance to headquarters office on the directors, finance and supplies from which schools collect numbers of receipts booklets, make returns of used and unused ones before collection of new stocks of the cash revenue receipts.
There is also implace the central pay rolling system, and most recently, they have introduced computer system aimed at computerizing the entire systems of the Boards accounting administration and management.
However, there are still problems in schools accounting systems.
There are reported cases of found, forgery of purchase invoices and other records like bank tellers manipulation of Tuition/Equipment and other fees payment made. However, there are observable limitations on the effectiveness of the internal control measures.
Thirdly, there are problems of poor non-rendition of revenue. A circular (Ref. ENS/SEC/FSD/904/VI/430 of 14th April 1992) from finance and supplies unit of the state duration commission, headquarters to all principals, all zonal Bursars, all zonal internal Auditors, head of pay roll section on the effect of low revenue returns stated their, “the post primary schools management board Enugu is seriously disturbed by the low revenue returns from the post primary school in the state.
Spot-checks in schools by the internal audit discloses that low revenue returns are caused by the following:
1. The failure of principals to send debtors students home after the authorized two weeks period of grace after each resumption date.
2. The failure of the principals to enforce the lodgment of all revenue collected on behalf of the government into appropriate government designated Bank Accounts.
3. The collection of monthly salaries by principals and bursars without obtaining usual clearance from the zonal internal auditors as having met the stipulated monthly revenue targets.
4. Consequently, all the head of salary pay point are directed to black list from monthly payment of staff salaries, any school whose principal and bursar failed to submit usual clearance certificate from the zonal internal auditors and the revenue officer.
5. There are some element of non-compliance with existing financial guidelines in a circular (Re: ppSMB/NSK/AU/17/Vol/136 of 1st March 1991 on audit inspection of school books of account/revenue returns from internal audit unit, post primary school management board Nsukka zone to all principals/bursars the zonal internal auditors stated interracially “our experience from schools already visited for audit exercise showed that some schools do not keep records and custody of their book of account. In view of these lapses in school henceforth, schools are expected to keep the underlisted books/documents, and where they already exist, should be properly safeguarded.
Principals and bursars should not treat the book of account or documents that do not belong to their period with indifference. Principals and bursars therefore must be ready to present both the administrative/financial records to our audit teams for
inspection even when they are not for routine audit of schools continuing, the circular emanated the records as follows:
1. Class registers
2. Receipt book issued note
3. Bank statements
4. Cash books
5. Daily collection registers
6. Cash analysis book (ledger)
7. Expenditure files
8. Hand over note file
9. P.T.A minute book
10. Bank pass book
11. Report books
The circular observed that it may not be possible to exhaust the individuals problems of the principals and bursars with regards to the keeping of good accounting and other records.
On revenue returns, the circular stated interaligi with effect from 1st term 1991, bursar in Nsukka Zone are required to observe the underlisted procedure with respect to revenue returns to internal audit unit, post primary schools management board, Nnsuka Zone.
a. The revenue returns on Tuition and equipment fees (Government Shares) must be rendered to the Internal Audit Unit Nsukka Zone on monthly basis
b. At the end of the verification exercise, clearance papers duely signed by the zonal internal auditors, Nsukka zone, are issued tot he schools whose returns are in order with these clearance papers the principals/bursars will submit their salary vouchers to the zonal bursar for the subsequent months, and as it is now will use the clearance paper to collect their schools salary payment vouchers and staff pay slips.

1.2. OBJECTIVE OF THE STUDY
a. This is aimed at evaluating the accounting procedures in post primary institutions in Udenu Local Government Area.
b. Another objective is to investigate the system to know whether it is appropriate
c. To ascertain the extent to which the established accounting system in achieving revenue collection and accounting of objective
d. To determine the extent to which schools follows the established accounting system and to ascertain the loopholes in the accounting systems in the establishment. (if any)
e. To make recommendations

1.3. SIGNIFICANCE OF THE STUDY
The study will be interest to the general public policy makers, professionals and other educationist. It will identify the accounting lapses associated with post primary institutions and propose suggestive measures and proper accounting records and standard.

1.4. STATE OF THE HYPOTHESIS
Ho: There is a significant problem in the accounting procedure in post primary institutions and the accounting system are not effectively supervised.
Hi: There is no significant problem in the accounting procedure in post primary institutions and the accounting system operates effectively.

1.5. SCOPE AND LIMITATIONS OF STUDY
This work reviews the accounting system procedure methods as is being operated in post primary institutions within Nsukka Educational Zone of Enugu State.
This is with a view to determining the problem collecting the relevant data, summarizing, analyzing and hence make recommendations.
In compiling a project or a handbook on any topic, it has never been possible to include all the information that might be available. This project on accounting system could not possibly be an exception. Nevertheless, an attempt has been made to include all available but pertinent information considered to be of good importance and assignment executed under twelve calendar months. In this regard, we can easily identify time constraint as a limiting factor.
However, this should not suggest that a good job is not done, many administrative problems are encountered in carrying out research assignment frequently co-operation must be sought obtained and maintained from individual employees and managers who might prejudice the exercise as interfering with normal work.
In order to see that the conditions of the research are maintained as prescribed, the researched should establish and maintain very close (and expensive) surveillance. This cost factor in itself is a limiting factor. In accessibility of some of the roads delayed proposed visits to schools volume of questionnaire was specifically reduced to manageable level to make it easier for respondents to fill. This reduction was equally made to facilitate date analysis.

1.6. DEFINITION OF TERMS
EDUCATION: It has been realized that education is a prime factor of development. By education here reference is being made to the schools scattered in the localities of Udenu Local Government Area and the certificate.
A SYSTEM: In the business sense, it is an organized method of accomplishing a business function accounting system therefore is an organized method of accomplishing an accounting function.
A PROCEDURE: This is a set of clerical activities through which a company or organizations activities are executed and controlled which provides information to a management.
REVENUE RETURNS: This is a term specifically used in public sector accounting to denote the process of collecting money on behalf of an appropriate authority usually the government and remitting such money to that authority via a pre-set procedure of format.
METHOD: These are the means or ways by which the system in an organized set-ups are operated and implemented.
DATA: This is a collection of incoming or soughed facts which need to be processed so that information is produced.
INFORMATION: This is defined here as a product of structured and processed meaningful data for purposes of satisfying certain desires and or requirements.
POST PRIMARY SCHOOL: As it is used in this project denotes secondary school. Post primary institution accounting in this context can therefore be said to be the system of accounting adopted by post primary institutions in Nsukka Zone in Enugu State.
ACCOUNTING: This is a discipline concerned with the recording analyzing and forecasting of income and wealth of business organizations and other entities. Generally, it records in money terms the flow of economic values between and or within economic entities.

Frequently Asked Questions

If you’re referencing specific information, quotes, or ideas from “Accounting Procedure In Post Primary Institutions”, provide a citation in the appropriate format such as APA, MLA, or Chicago.

The title page of downloaded document contains information about the author, editor, and publisher of Accounting Procedure In Post Primary Institutions Project material.

Select “Donate & Download,” on top of “Accounting Procedure In Post Primary Institutions” and upon completing your donation, you will be directed to the download page or you can chat with us for alternative donation methods.

You have the opportunity to upload content similar to “Accounting Procedure In Post Primary Institutions” and receive payment for each download of the material. Engage in a conversation with our representative if you have any Project topics related to Accounting Procedure In Post Primary Institutions.