ACCOUNTING INFORMATION SYSTEM AS A MEANS OF ENHANCING FINANCIAL MANAGEMENT OF TRANSPORT COMPANY

ACCOUNTING INFORMATION SYSTEM AS A MEANS OF ENHANCING FINANCIAL MANAGEMENT OF TRANSPORT COMPANY

Accounting information system in a transport organization has been a great problem to the third world countries in general, which Nigeria as a country has its own share. This research work, “Accounting information system in a transport organization, suggests ways of minimizing the effects of the problems of inefficient accounting information. It is believe that an improvement in this regards will enhance the performance of the corporation. To enable the researcher find solution to the problem of this study, some questions were raised in the form of hypotheses, which were developed comprising the null and alternative hypotheses. The methods of data collection were primary and secondary data method.

The data collected were analyzed by use of simple percentages while chi-square was used to test the hypothesis formulated for validity. Findings show that accounting information is an indispensible tool in the management of Nigeria Railway Corporation and the activities of unqualified and incompetent accounting officers are responsible for the performance of the accounts departments in Nigeria Railway Corporation. Based on the findings, the researcher concludes that the accountant should put more efforts especially when computing the financial statement since accounts fraud result from ignorant of proper accounting procedures. Since the financial statement are sources of document of accounting information, efforts should be made in generating more relevant, timely, effective and accurate accounting information necessary for prevention or detection of fraud.    

BUDGETING AND BUDGETARY CONTROL AS TOOLS FOR ACCOUNTABILITY IN GOVERNMENT PARASTATALS

BUDGETING AND BUDGETARY CONTROL AS  TOOLS FOR ACCOUNTABILITY IN GOVERNMENT PARASTATALS

This research work was   focused on investigation on the use of budgeting and budgetary control as  tools for accountability in government parastatals. ( A case study of Enugu State Housing Development Corporation). Budgetary control is a quantitative expression of plane of action prepare in advance of period to which it relate. The organization is face with the problem of lack of budgeting while planning and controlling  their activities. The objective of the study is to determine if budgeting and budgetary control affect the quality of services delivery in government parastatals. The research also aims at determining if budgetary control contribute to the improvement of management efficiency and high productivity. Data were collected from primary and secondary source. Secondary source of data were collected from textbooks, periodic articles and journals.

Questions were distributed as well as personal interviews with functional and departmental heads were conducted. The sample size of 60 were used and was chosen among the number of department / section using Bowleys proportional allocation formula Data were analyzed using table and simple percentage, hypothesis were tested using chi-square statistics. We discovered among other things that budgeting and budgetary control affect the quality of service delivery in government parastatals. It was also revealed that budgeting and budgetary control contributes to the improvement of management efficiency and high productivity. In line with the above, we recommend among other things that the budget plan and preparation should be a corporate duty of the unit heads with head of department in the corporation, improving legislation, realistic budget target. Adherence in the budgeting provision should be practiced by top management.

MARKETING OF BANK SERVICES IN NIGERIA

MARKETING OF BANK SERVICES IN NIGERIA 


The financial sector, especially the banking system, plays a very important role in the development of any economy. This is because banks are the most important and vital intermediaries in any economy, given the fact that they mobilize savings and idle funds from the surplus sector and transfer them to the deficit sector, where they are needed. Banks may be referred to as the heart of the economy in regard to the role money plays in the economy. Commercial banks create and facilitate payments for goods and services.


Banks are economic decision units established for the purpose of providing financial services and products to the target market with a primary objective of making adequate returns or profits on the funds invested, without neglecting the other secondary of social objective of prosperity, growth and continual life of the business.
Furthermore, it has been widely accepted that money matters in economic development, and that financial intermediaries or institutions particularly banks contribute significantly to real development. (Bhatt and Khathate, 2003).


Banking services in Nigeria started in 1982 when the first bank was established in the country as the African Banking Corporation. Its name has undergone changes twice and now called the First Banks of Nigeria Limited.
The Nigerian banking industry is undergoing the greatest challenges. These challenges can be closely associated with the increasing cut-throat competition in the banking sector where marketing becomes essential as provision of services itself. This has therefore placed customers in their rightful position as “Kings”. Service quality therefore is an important component of any bank’s product. This has led banks in general to be innovative in services and purposeful in management and there is need for aggressive and persuasive marketing of banking services to protect bank’s existing customers and to acquire more to the market.

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ENHANCING CORPORATE ACCOUNTABILITY THROUGH EFFECTIVE AUDIT SYSTEM

ENHANCING CORPORATE ACCOUNTABILITY THROUGH EFFECTIVE AUDIT SYSTEM


Ability to report back the conclusion of an assignment of the progress made so far to the person(s) who delegated the authority to the performer of an assignment, duty or function, has for decades eluded this nation both in the private and public responsibilities to be performed and performed and reported back has been carried out as accomplished. The lack of accountability leads to many vices in our social and economic system. The objectives of this study therefore are: (a) To ascertain the determine the role of independent audit towards accountability in an organization (b) To determine if independent audit can control fraud and embezzlement. The primary data sources (the questionnaire) collected response from thirty two (32) respondents out of forty (40) that was sampled.

Data collected through primary sources were analyzed on tables using percentages, three hypotheses were stated in null form and ere tested using the X2 statistics, simple percentages and the test revealed that audit enhances accountability in an organization and also help in controlling fraud, embezzlement and defalcation in an organization.  

EFFECTIVENESS OF INVENTORY MANAGEMENT IN A MANUFACTURING COMPANY

EFFECTIVENESS OF INVENTORY MANAGEMENT IN A MANUFACTURING COMPANY

This study examines the essence of effective inventories control and management to manufacturing companies with particular emphasis on Ama Greenfield Breweries plc. The aim of this study is to investigate and ascertain areas of lapses by the company and offer effective ways and solutions in which the manufacturing company can explore the services of inventory management to effect its objectives. In carrying out this study, various research instruments such as questionnaires and oral interview were used to collect data from respondents and a research design was adopted with a sample size of 52.

The statistical tool used for this work is Chi-square. Based on the analysis, it was discovered that inventory management plays a vital role in the manufacturing company. A well functional inventory management following the recommendations can bring about proper management thereby enhancing proper and effective production and it will equally ensure the effective, efficient and adequate use of materials and resources in the manufacturing company.

ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT AS A MANAGERIAL TOOL FOR DECISION MAKING

ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT AS A MANAGERIAL TOOL FOR DECISION MAKING

Financial Statement Analysis and Interpretation is a very vital instrument of good management decision-making in business enterprise.  Good decisions ensure business survival, profitability and growth.  Without financial statement analysis in investment decisions, an enterprise is likely to make decisions, which could spell its doom.  Poor or lack of qualitative financial statement analysis could lead to investment returns, low profitability and even inability to identify viable investment opportunities.  The main objective of this project is therefore, was to determine how firms could use financial statement analysis and interpretation to aid management decisions and to avert the problems highlighted above.  Primary and secondary data are employed to broaden the scope of this study.  Primary data are sourced from questionnaire responses.

This provided data for the validation of the hypotheses tested with the use of chi-square (X2).  The test revealed as follows: (1) Significant difference between the returns of the financial statement in Analysis and Interpretation based on management decision. (2) Organizational profitability has relationship with financial statement analysis and interpretation based management decision but not significantly.  The project concludes that companies should pay great attention to the use of financial statement analysis so as to properly equip themselves with this invaluable tool.  The researcher recommends the following: (a) Accountants or financial analysts should not be rushed in collection, preparation, analysis and interpretation off financial statements. (b) Financial statements should be made to reflect current cost accounting to eliminate or reduce the effects to historical cost principle and inflation risk element. (c) A combination of different ratios should be used in analyzing a company’s financial and/or operating performance. Proper use of financial statement analysis should be made not only in investment but also in other areas of decision making.

EFFECTS OF BUDGETING AND BUDGETARY CONTROL IN EXTRACTING INDUSTRY.

EFFECTS OF BUDGETING AND BUDGETARY CONTROL IN EXTRACTING INDUSTRY. 

The main aim of this write up is to throw more light on the review of budgeting control in a extracting industry. This research purely base on budget as an instrument of control in an organization and also as a means of highlighting the role of budget in any establishment and society at large.

Data were collected for this research work were from both secondary and primary source. With the population of 180,questionnaire were administered and interview conducted for a sample size of 180 persons made up of staffs of the corporation .in any attempt to make the research meaningful and comprehensive the researcher has to divide the entire work into five chapters.which comprises of the deal with the introduction  where  the  researcher  give  a  brief  discussion  of  the  concept statement of problem, limitation and scope of the study.

And also comprises of the  literature  review  which  deals  with  definitions  of  term  classification, important of the subject matter “budget” with the following chapter deals on research methodology which explains the research design and also forms the basis for data collection.also states the analysis and interpretation of data and also shows that the hypothesis was tested, the concluding chapter throws more light on the work by summarizing the work and given the recommendation.

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Teens Love Foundation: 5 Ways to Practice Mindfulness

Teens Love Foundation: 5 Ways to Practice Mindfulness: With the fast-paced nature of our society today, it can be incredibly difficult for us to take a moment and give more cons...

Super productivity tools for all entrepreneur

Being entrepreneur, you need tools that keeps you ahead in the game and be super productive. The tools will help you to get tasks done, and make your life easier. There are thousands of software applications in the market, so we bring to you the top ones that are worth your time. So, here is the list for you.

1. Project Management

Asana –  Asana is a cloud-based project management software that will help you keep everything together. Its very much flexible and tasks and subtasks are associated with the project and departments. The recurring tasks can also be assigned to your team. This tool will help you remember things and let Asana structure things.
Google Docs – This is widely used across many entrepreneurs. With the help of Google docs you can instantly create and share documents, presentations and spreadsheets and which can be updated in parallel by all team members.

2. Sales and Marketing

Google Webmaster Tools – As a marketer, Webmaster Tools will be the most important free tools at disposal. If you really need to get found on Google, then you need to understand to what Google is expecting through Webmaster Tools.
Google Adwords Keyword Planner – Do you want to know your competitors getting found online? Google Adwords Keyword Planner will help you answer this question. Google has made its Keyword Planner tool available to anyone with a Google account. Use Adwords Keyword Planner to know what keywords are generating the most search volume in your niche opportunities. This will certainly help you to capture traffic.
Zoho CRM- Zoho provides free CRM system. Zoho integrates with JotForm and Unbounce simply by adding your API key. This will help web leads to automatically send you your CRM.
HitTail – Does deciding on what to blog takes up a lot of your time. Here is a solution which will help you to reduce time. HitTail analyzes the data in your Google Webmaster Tools account and makes recommendations for long-tail words to write about. HitTail also has network of skilled writers who can create content for you.
Amazon’s Self-Publishing Tools – Do you want to self publish? Now Amazon has provided this option for you. Kindle Direct Publishing allows you to get the word out via e-books, CreateSpace helps you develop a print edition and ACX is the audio publishing division.
MailChimp – E-Mail marketing is an effective way of sending out the newsletter. For this you need an effective marketing strategy along with the tool of multiple functionalities. MailChimp offers elegant, intuitive newsletter templates, advanced list segmentation features and marketing automation capabilities.
WordPress CMS – WordPress is an open-source CMS that you can install, customize and continuously optimise. It is an smart tool to publish content without much assistance.

3. Managing Time and Alert

Google Calendar – Google Calendar is a very neat way of managing your schedules. Do remember to put anything which is time and date sensitive to the calendar. For anything which is not time-sensitive can be created in Android or iPhone reminders.
Google Alert – Google Alerts is another free service from the technological giant that allows you to keep a tab on your web presence and your competitors by tracking analytics for search terms on the ubiquitous search engine. You can track where you have shown up on blogs, social media pages, and much more.

4. File and Social Sharing

Google Drive – Google Drive is a powerful way by which you can share the files. Google Drive’s desktop client creates a folder into which you can place files that are automatically synced to the cloud and to other devices running the client. Documents saved in Drive can also be opened as Google Docs documents.
Hootsuite – Social media is a very important for business. If you have multiple social media account to manage for your business, then its very difficult to keep track of all of them. However, with this Hootsuite, you can keep track of all the social media accounts from a single dashboard

Great places to find a new startup idea for your business today

8 great places to find a new startup idea

Have you spent countless hours sitting at your desk and thinking about the next big idea, only to cross each off them off the list for one or the other reason? This will change now, so get out of your desk and take a look around. A brilliant startup idea might be just round the corner.
Entrepreneurs solves problems, whether this might be filling the gap in the market, or improving the concepts that are already there. So, here are the places to find solvable problems.

Your home

Look around your home, there might be several cause of frustrations that you encounter, from the bathroom cleanup, to dusty furnitures. If you are having the problem then its most probable that the other household might be facing the same problems. An average person can complain about having to take care of the problem, but you can take care of this by launching an in-home service business that will solve the problems of many.

Your neighbourhood

The people who stay nearby can give you inspirations for a startup idea. Think about the challenges they are facing. If you have neighbourhood with lot of working parents, a childcare service might be of a high demand.

Your office

There might be services that your co-workers might be missing. Possibility is that someone is looking for a financial advisor or others might be looking for music or art classes where they can enroll their children. A small chat with them would lead towards some viable ideas.

The Mall

Analysing your local mall, might give you some ideas for a business of your own. This might range from launching your line of natural cosmetics, to clothing line that is different them the same old items, or online craft shop for personalized alternatives.

Grocery shop

Seeing whats missing from the shelves at the grocery shop can help you come up with a made-to-order culinary business idea. You could test your skills with ingredients from the supermarket and open up a restaurant.

Your child’s school

Think about the gaps you see in the market, and next time you pick up the kids from school, ask other parents if they feel the same way. Not a parent? Ask family members or friends with children what kinds of things they want but can’t currently find for their kids.

Search engines

Have you ever done an exhaustive Internet search for a specific item that returned no results? In this scenario, you have three options: settle for something close enough, give up entirely or do it yourself. If you are person who believes in do it yourself, you have a opportunity to turn this opportunity into lucrative business. Check if others are searching for the same product, and then open an online shop to sell them.

Social media

If there’s one thing people like to do on social media, it’s air their grievances about everyday life. Most  of the times these updates are irrelevant and of not much benefit to you, but if you pay a close attention, to the hashtags and status updates you might see a similar problem emerging. Look for phrases like, “Why isn’t there a…” or, “I wish there was a…” and see if you can some up with your solution for the same