The concept of Quid Pro Quo applies to every facet of life-taxation inclusive. An average tax payer expects something of value in return from the government for taxes paid (Adebisi and Gbegi, 2013). When this value is not returned to the taxpayers, tax morale may drop gradually, leading to tax evasion. In Nigeria today, tax is regarded as one of the major sources of government funds. Taxation is one of the most discuss issue in government in both developed and developing countries. James and Nob... read more

Budgeting and budgetary control will continue to play a significant role in public organizations in Nigeria, considering the need to compete favorably with other organizations (both public and private) and make sure the organization is a going concern, most government agencies have adopted budgets and budgetary control techniques to effectively and efficiently allocate resources and achieve stated goals. Every Business oriented organization is aimed among other at making profits as high as po... read more

Inventory management is a significant component of any business since inventories are normally accountable for the majority of the costs incurred in business operations. Several researches conducted to ascertain how companies meet customer demand by tracking and maintaining the inventory required using and inventory management system. Thus, the desire to find out inventory management and control on manufacturing ignited this study. This work examined the inventory and control management with a p... read more

Every business organization whether in the public or private sector is established to achieve certain objectives. This could be profit maximization as in the case of the private sector or efficient and timely provision of essential services at a reduced price, as in the case of the public sector. The performance of such business organization has to be reported in monetary terms to the owners of the business. (For example, shareholders in the case of private organization or the government as ... read more

Very large organization and some small ones have found a need for internal audit in addition to an external audit. Internal auditors are employee of the organization and work exclusively for the organization. Their functions partly overlap those of the external auditors and in parts are quite different. The precise function of external auditors are either laid down by statute or embodied in a letter of engagement. The functions are determined by management and vary greatly from orga... read more

In view of the recent global recession of 2009-10, when investments made by banks and financial institutions proved unsafe and almost triggered a financial meltdown that required strong input and investment by most democratic governments, the need for internationally regulated and well-audited financial institutions are greater than ever. Therefore financial institutions have started to concentrate on rigorous internal audit processes undertaken by an internal audit team that conducts regular co... read more

Some years back, the agricultural sector was playing an important role in the Nigeria economy both in generating revenue and in the physical impact. This was before oil started its own impact on the economy. The impact created by the oil sector begging to be more relevant within a short period of time. Other sectors of the economy become secondary in terms of their relevancies. The sectors were neglected in the favour of oil. Oil thus becomes the leading factor and the leading product in term... read more

Source documents have a powerful function in the accounts. They almost also have a strong line relationship with the preparation of Financial Statements in any organization. Guinness Nig. Plc. was used as a case study in this project. This study highlights the vital importance of source documents in the accounting process. And how they form bedrock upon which all accounting evidence and practice are based. Even the vital role they play in the auditing of the books of account of any organization.... read more

Corruption and looting of public treasury was a major problem in the public sector accounting. Report from office of statistics Lagos show that our accounting records are balanced in arrears and our financial records are hardly balanced daily, weekly, quarterly, half-yearly and yearly basis as appropriate. This was evidenced by Chief Olusegun Obasanjo during his first maiden address to the nation immediately he was sworn-in as the President of the federal republic of Nigeria on the 29th day of M... read more

Every organization has a purpose, which includes making some product and rendering some services at a price. For normal operations of the business organization, it is the product or services of the firm that cause cash receipts (revenue) to flow into the firm. Revenue is associated with products or service of a firm as source of expected cash receipts. Revenue is an event; an increase that applies definitely to value that is monetary. This increase occurs because the firm undertakes certain acti... read more

The impact of auditing in controlling fraud and other financial irregularities can not be over emphasized. This is due to the fact that auditing is one of the most important technique in financial management. Auditing stated in the United Kingdom in the 17th century as a way of providing information to wealth owners. Over the years, auditing has developed and is universally accepted as a means of checking on the operation of organization in ensuring that their activities and policies are in c... read more

In the ancient days, human activities were relatively easy. The difficulties posed by nature then, were considerably simple and demanded solution of relative simplicity. The compounded problems of man and his way to solve them necessitated the inventors of machine i.e. computer. Since the invention of the first machine, the world has experienced a tremendous degree of advancement in technology and one for the machine invented for solving complicated problems in the computer. With increasin... read more

During the primitive age very little or no notes were taken into proper record especially those activities and transactions involving money. The records and notes were usually taken either in memory (human being) or some marks on the ground or trees. As man developed from this primitive era to more complex economic society, there occurs notable growth and expansion in his way of life and activities he undertakes. During this time, the most disturbing problems that man faced was that t... read more

A tax could be defined as the transfer of resource from the private to the public sector in order to accomplish some of a nation’s economic and social goals. The primary economic goal of developing countries a is to increase the rate of economic growth and hence the per capital income which will lead to pre capital income which will lead to higher standard of living. If due recognize two major accomplishment as requirement for the attainment of this goals. Provision of additional basi... read more

Internal Audit Units are established in organizations in order to assist members of the Organization in the effective discharge of their responsibilities, monitor the use of resources and make recommendations for the improvement of the organizational operations. The day-to-day operation of an organization is delegated to the management by the Board of Directors. The head of the management often referred to as the Managing Director and Chief Executive Officer serve as a link between the Board ... read more

Business organization must deal with distribution to achieve a set goal. Distribution is not completed until the goods gets to the final consumers. Physical distribution comprises the tasks that is involved in planning and implementing the physical flow of materials and good from the manufacturing point to the distributors or the consumer for their own consumption purpose or the aim of making profit. Physical distribution on profitability depends the effective strategy to maintain and gene... read more

In Nigeria, successive governments, since independence have set up autonomous organizations with legal independence and powers, having the initiative of private enterprises to carry on developmental activities of commercial or industrial nature. Thus, the emergence of Ahmadu Bello University teaching Hospitals with headquarters in Samaru Zaria is charged with the responsibility of accounting properly all financial activities undertaken by its management. The need to institute both internal an... read more

The pension and gratuity which are normally goes to retired employee have been in practice in the advanced western countries, which gradually came into our under developed countries, since then during colonial regime. Pension is a stated allowance or amount of money paid regularly on monthly basis to a person on his retirement from service. Gratuity: This is a sum of money paid to a worker or military personnel on retirement or discharge from service. The amount is calculated according to ... read more

Risk Management is the identification assessment and prioritization of risks. It is the effect of uncertainty on objectives, whether positive or negative followed by coordinated and economic of application of resources to monitor and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities (Okeh, 2006). The survival of every commercial bank depends on its ability to manage its risks and loans or advance portfolio effectively. However in the r... read more

The study highlighted to evaluate the effect of value added tax (VAT) on consumer’s standard of living, a study of Uyo VAT office. Based on the research problem, it is noted that Vat affect consumer’s standard of living in response to consumption of goods and services. The population of the study consists of twenty five (25) workers of Vat Office Uyo. The sample size is 24 which means that every member of the service has equal chance of been selected. The objective of the study includes to a... read more