It is obvious that enormous resources of money and material are being utilized by corporate organizations. In recent years the numbers and monetary values of public sector activities have increased substantially. This increase in activities have brought within an added demand for accountability. Auditing is one of the elements of accountability. Shareholders and government are responsible for ensuring that appropriate audit are made and reports therefore acted upon. Financial auditing contrib... read more

Management accounting techniques have in no small measure assisted different organizations especially manufacturing companies, in their decision making processes. It is a known fact that techniques change over the time largely because business themselves and the societies that they operate change as well. What was considered as a good management technique year ago may be considered ineffective in making decision in the future. Also, changing external business environment has resulted in furth... read more

Corporate planning is the process of selected objectives, purpose or goals and deciding generally and specifically what should be done to attain these objectives. It is done at corporate level which covers the entire organization with due attention' to various departments, sections, division and branches that up the organization. Corporate planning is also called strategic planning as a tool to aid management in strategic decision-making. The purpose of strategic planning thus to accomplish a su... read more

As it will be practically impossible to talk of a building without a foundation, so also it will be professionally imbalance to talk of Audit procedure in a public sector organization” without actually bringing to time light what public sector organization portrays. Public sector organization refers to those organizations set up by government for the purpose of providing social services with profit motive if any, at the background. “organization” in the eyes of the law is an actual b... read more

Any successive management is constantly estimating the performance of her comparing it with the company's historical figures, with its industry editors. And even with successful business from other industries. To complete a thorough' examination of company is effectiveness, however, one need to look at more than just easily attainable numbers like sales, Profits and total assets. One must be able to read between the lines of financial statements and make the seemingly inconsequential numbers acc... read more

The essence of value Added Tax (VAT) In Nigeria in 1994 was to boost the revenue base of the government, re-activate the economy and as possible- reduce the poverty level by appropriately re­allocating resources from personal and private sections to promote growth and development. The adoption of this form of consumption tax was also necessitated by the decline in the oil revenue due to fluctuations in the price of oil in the international market, which makes the oil revenue insufficient to run... read more

An audit involves the independent examination of an expression person in accordance with the terms of engagement and the observance of statutory regulations and professional requirement (Okolie, 2008). According to Milichamp (2003) the primary objective of an audit is to produce a report by the auditor of his opinion of the truth and fairness of financial statement, so that any person reading and using them can have belief in them. Corporate management is a genetic term used to describe the ... read more

Like many other African countries, Nigeria is primarily agrarian with its abundant land and water resources. Despite the rapid growth of the oil industry over the years, agriculture still accounts for 40% of GDP and provides employment (both formal and informal) for about 60% of Nigerian’s 150 million people. Nigeria’s agriculture remains largely subsistence-based with about 80% of agricultural output coming from rural farmers living on less than a dollar per day, earned from farming less th... read more

This project is designed to evaluate the application of marginal costing technique in a manufacturing company with special reference to Nestle Nigeria Plc as a case study. It therefore examines the techniques of marginal costing as a tool of industrial survival in the Nigeria present economy. The project will also examine cost control system of Nestle Nigeria Plc so as to know whether or not a control system exists. The effective control of production and distribution of operational cost a... read more

One of the most important things in life of a business is decision making. Decision making is an all pervasive activity taking place at every level in the organization, covering both the short and long term. It is concerned with the future and involves a choice between alternatives. The decision making of a business is centered upon the information possessed by the decision maker. However, plans are activated by decisions which require some of financial or qualitative analysis in order to make... read more

In the real sense of economic development, the efficiency and effectiveness of a nation's economy rests viably on its ability to meet with the demands of the populace of such an economy. In order words, the effectiveness of an economic is vested on the manufacturing sector. This is because, the indices by which the development and progress of an economy is measured is predicated on the goods and services so produced by the out fits in such a sector which could either be consumed locally or be... read more

For a country to exist in harmony, the government of such country must live up to its public economic and social obligation by providing economic and social amenities reduced or subsidized commercial rate. To do so, this will normally involve huge expenditure and therefore, will also require revenue source. Additionally, government at various levels will need to settle operational costs to be able to offer the aforementioned social amenities; one of the various sources of fund available to... read more

There is the need for optimization of the scarce resources available to organizations, that is available resources are to be put to their most optimal or profitable use. Since these resources are scarce, a plan has to be drawn to eliminate wastage and arbitrary resource allocation. This trend of thought brings us to the "concept of budgeting". An organization plans ahead in terms of sources of revenue and avenues of expenditure within a specific time frame. Irrespective of the fact that it is... read more

One on the ultimate means of evaluating the performance of a public sector can be attributed to budget or budgetary control. Most managers planning and control to determine the goals and objectives of an organization is geared towards accomplishing all activities of the organization to achieve its desired goals. In other words, to ensure that the company will make a projection of its cost and revenue (budget) while (control) is the cost of ensuring that corrective actions are taken whenever cost... read more

The rate of economic development of any nation is inextricably liked to the sophistication of its financial markets. Financial markets assist the nation of the world to give the needed financial resources and skills for growth and development. Apart from promoting a sound and efficient payments mechanism, the financial intimidation. The financial market is an institutional arrangement that facilities the intermediation of funds in an economy. By financial intermediation, it means mobil... read more

It is not an overstatement that taxation plays a prominent role in the economy of any nation as one of the major means of generating revenue. In the past government derived more revenue from Company Income tax compared to any other sources of revenue but now reverse is the case and this is due to the ineffectiveness of the administrative machinery of Company Income Tax .i.e., Federal Inland Revenue Service (FIRS), the government policy and the conduct of the tax payers. It was also observed b... read more

According to Nwankwo (1990), since the first formal bank was established in 1656 in Sweden, the banking industry has always been a pervading institutional player in any given economy, being the only sector that thrives on other people's money. Although element of the practice of banking has always existed both In pre and post-colonial periods, the introduction of modern banking in Nigeria dates back to 1892 when the African Banking Corporation (ABC) came into existence, engaging in commercial ac... read more

The sources of changes are diverse, well known and, most times, irreversible. They include technological innovation, deregulation, and inauguration of the computer information age, changed consumer demands, globalization, and the rush toward democratization, among others. These changes are impacting seriously on the environment of business. Yet it looks as if the coast is not clear, as these changes are most likely to stretch into the next millennium and beyond long as the indices keep swinging.... read more

Every business needs investment to procure fixed assets, which remain in use for a longer period. Money invested in these assets is called ‘Long term Funds’ or ‘Fixed Capital’.Business also needs funds for short-term purposes to finance current operations. Investment in short term assets like cash,inventories, debtors etc., is called ‘Short-term Funds’ or‘Working Capital’. Working capital refers to that part of thefirm's capital which is required for financing short term orcurren... read more

The topic of dividend policy continues as one of the most challenging and controversial issues in corporate finance and financial economies. Research into dividend policy has, shown not only that a general theory of dividend policy remains elusive, but also that corporate dividend varies over time between firms. For a firm, which encounters financial difficulties, reliance is placed on retained earnings and accordingly results in lower payout ratios. However, shareholders have been enthusi... read more