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TITLE PAGE
CRITICAL EVALUATION OF ACCOUNTING SYSTEM IN NON-PROFIT MAKING ORGANIZATIONS
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, ''critical evaluation of accounting system in non-profit making organizations'' by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
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TABLE OF CONTENT
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Table of content v
CHAPTER ONE
Introduction.
- Background of the study
- Statement of the problem
- Objective s of the study
- Significance of the study
- Scope and limitation of the study
- Definition of the terms.
CHAPTER TWO
Literature review
2.0 Introduction
2.1 Voluntary health and welfare organization
2.1.2 Public sector accounting
2.2 Accounting system reporting practice of non-profit making organization
2.3 General treatment of fixed assets and depreciation of non –profit making organization
CHAPTER THREE
Case study and methodology
3.1 historical backgrounf of kwara state water corporation
3.1.1 Corporation assets
3.1.2 The staff strength.
3.2 Research methodology
3.3 Sources of data.
CHAPTER FOUR
Data presentation analysis and interpretation
4.1 The co-operations organization mode of operation
4.2 The organ gram of kwara water co-operation
4.3 Diagram of accounting procedure in kwara state water corporation.
4.4 Analyzing of accounting procedure
4.5 Analyzing of balance sheet under capital employed.
4.6 Analyzing of income and expenditure account
4.7 Analyzing of the comparatives.
CHAPTER FIVE
Summary, conclusion and recommendation
5.0 Introduction
5.1 Summary
5.2 Conclusion
5.3 Recommendation
Bibliography
CHAPTER ONE
- 1 BACKGROUND OF THE STUDY
Non-profit making in its simplest form includes the public sectors, ecclesiastical i.e. churches and mosques, clubs e.t.c established to exhibit. A variety of social economic political and loyal characteristics; it is an organization which cater for services of the general public and a whole and thus with no view of making profit. In this sense it has different objectives and is financed in different ways.
The basic background is to impact the knowledge that no – profiting making organization exist and that they have accounts that they keep among the accounts kept by non – profit, expenditure account, wages account, statement of recurrent revenue, statement of recurrent expenditure to mention but of few public sector. Accounting is made up of many independence departments which are entitles on their own such like the case of the public limited liabilities company which is a legal entity.
The purpose of accounting is non-profit making organization includes the followings to demonstrate the proprietary of transaction and their conformity with the established rules (i.e rules establishing non-profit making organization) to give evidences of accountability or stewardship within the system to provide useful information for good control and efficient management.
- 2 STATEMENT OF THE PROBLEM ACCOUNTING
The problem encountered in the accounting system of non – profit making organization with reference to this research work is as follows:-
The data i.e payment voucher, sales voucher receipt and the likes are delayed in computation and this hinders the progress of the system.
Some of staff is in experienced; they do not even understand reason for operating or keeping the account system.
The corporation cannot increases its water rate because its fixed by the government
- 3 OBJECTIVES OF THE STUDY
The objectives of this study includes:-
- To evaluate the accounting system of non-profit making organization critically.
- To point to areas of weakness in the accounting system
- To suggest any remedial courses of action that should be taken to improve the system.
- To recommend a set of accounting system which will necessarily fatter the aims of the non-profit making organization?
- To examine the rate of efficiency and achievement in the non-profit making organization
- 4 SIGNIFICANT OF THE STUDY
This project works in significant in the followings ways:
To enable improvement on the old system of record keeping that is prevalent in non-profit making organization.
To enable people to understand the system of accounting that is obtainable in the non profit making organization.
To enable non-profit making organization understand what is realized of them by the public and to let them know what information is needed from them.
To make self actualization in people that non- profit making organization generate some revenue for the implementation of their objectives.
To instill the knowledge that it provides financial information useful, for the determining and predicting the flows, balances and financial resources of the government.
- 5 SCOPE AND LIMITATION OF THE STUDY
The scope of this study will be limited to kwara state water corporation being a good example of non-profitable making organization in the public sector. Due to time and financial constraint, emphasis will be on its background and accounting system.
The value of this limited to certain constraints. The most salient limitation in that the research covers only critical evaluation of the accounting system of the case study that is, kwara state water corporation, Ilorin.
There are some books and record that were not released which are of more value to the research work, because they are termed “official secrets”.
Secondly, the study is constrained financially in terms of transportation.
Expenses, purchase of stationery, photocopies and other incidental expenses.
Thirdly, the time within which the project is to be completed is in short. a longer time might have allowed greater evaluation.
Fourth, the hostility faced or received from the respondents that in some members of state of kwara state water corporation ranging from come today, come tomorrow syndrome
Lastly, the data analyzed are ratable to the extent of their validity as applied by the corporation. Therefore, sufficient reliability is major limitation of this research,
- 6 DEFINITION OF TERMS
Accounting officer:- this is the title of the post held by the minister of the head of a central government department. He is responsible for the general supervisor of the accounts for the general supervisor of the accounts of this ministry and is expected to comply fully with the checks and balanced spelt of in the existing guide lives and financial regulations. He is responsible for the funds voted to this department by the provisional ruling council (P.R.C) by tradition he also licenses with the public accounts committee on all aspects of financial management.
General warrant; a warrant issued by the minister of finance authorizing the accountant general to make the payment provided in the estimates
1.7 PROJECT ORGANISATION
The work is organized as follows: chapter one discuses the introductory part of the work, chapter two presents the literature review of the study, chapter three describes the methods applied, chapter four discusses the results of the work, chapter five summarizes the research outcomes and the recommendations.
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of''critical evaluation of accounting system in non-profit making organizations''is also available. Order full work to download. Chapter two of''critical evaluation of accounting system in non-profit making organizations''consists of the literature review. In this chapter all the related work oncritical evaluation of accounting system in non-profit making organizationswas reviewed.
CHAPTER THREE: The complete chapter three of''critical evaluation of accounting system in non-profit making organizations''is available. Order full work to download. Chapter three of''critical evaluation of accounting system in non-profit making organizations''consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of''critical evaluation of accounting system in non-profit making organizations''is available. Order full work to download. Chapter four of''critical evaluation of accounting system in non-profit making organizations''consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a''critical evaluation of accounting system in non-profit making organizations''is available. Order full work to download. Chapter five of''critical evaluation of accounting system in non-profit making organizations''consist of conclusion, recommendation and references.
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