The term audit is derived from the latin verb "Audire" which means "tohear". The origin of audit dates from ancient times when the landownersallowed tenant farmers to work on their land whilst landowners themselvesdid not become involved in the business of farming. The landlords reliedupon an overseer who listened to the accounts of stewardship given by thetenants this period the word audit is described as: The ,independent examination of, and expression of opinion on the financial statements... read more

Every Society in whatever form will comprise the ruling and the authority and the ruled subjects. As social contract term the ruler is expected to perform some roles; be it administrative, social, economic, political, cultural or religious. In return, the ruled subjects that enjoy the benefits from these roles performed are to give something for keeping the machinery working. This could be in cash or in kind. 'In light of the above, every constituted human society, whether primitive or modem, ha... read more

The Banking industry is so strategic to the economy that virtually everybody is a stakeholder. Banks act as lubricants of the economy and the custodians of the payment system. They therefore impact on every sector of the economy. Banks with high capital base perform their traditional role of banking by financing capital projects that is in the oil and gas sector. Banks help in mobilizing savings through a network of branches. By mobilizing savings, the bank channels them into investments. Thus,... read more

Every business has an overriding responsibility to make the fullest possible use of its resources both human and material. An enterprise is a corporate citizen. . Like a citizen, it is esteemed' and judged by its actions in relation to the community of which it is a member as well as by its economic performance. The corporate sectors in Nigeria has not been performing as a good citizen that is why there are so many laws that have been laid down and further amended from time to time as when requi... read more

Ta x is a compulsory payment made on different bases and rates by citizens (Corporate bodies and individual s) to government, non negotiably but obligatorily. This payment is not on the basis of direct exchange for the payment for goods and services. It is non negotiable because none of the citizens has any direct contribution to the composition of the bases and rates of payment. Government only classifies the items on which the tax is t o be paid, and the category of citizens that should ... read more

The main objective of this researcher work is to find out by investigation and analysis how the services of accountants assist in the effective financial management in private and public organization. For some time now, cases of frauds, embezzlement and inadequate of accounting system which have led many establishment to liquidation and as such became necessary that a research be undertaken to find out a permanent solutions to the problem. In chapter one efforts were ma... read more

This work was aimed at evaluating tax payer’s perception on value added tax system in Nigeria in 1993. The federal government promulgated a decree in respect of the introduction of VAT which is a tax on the consumption of good and services. This was in view of the remedies benefits which could be divided from the exercise. Prior to the introduction for vat sales tax system was in operation but tax expected see it as being to narrow and was also unable to generate the expected reverse gove... read more

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 a... read more

The importance of personal income tax to government, both as a revenue source and as a fiscal policy factor cannot be over emphasized. In order to achieve this objective, the project work was divided into five chapters, each chapter dealing with an aspect of the work and helps to highlight the rudiments which when collated, get the root of the investigation. Chapter one deals with the background of the study, statement of problem, purpose of the study, delimitation of the study, research q... read more

This study was embarked upon to ascertain the impact of Accountancy knowledge on the Role of Electronic Banking in the Development of Financial institutions in Nigeria. The study has a total of three chapters and first chapter titled the introduction started with the background of study. Here, an overview of accountancy knowledge on Electronic Banking was undertaken. The aims and objectives of the study were duly highlighted in chapter one. The aims and the objectives of the study in... read more

Various accounting system is being used by different organizations or firms to speculate and analyse their financial statue. However, for an organization to know the system of accounting they will adopt depends on the kind of transaction/business or activities such organization engaged Nigeria my country. The problem of adopting a particular accounting system especially among the various local governments in the states, has always been taken into consideration to ensure good control and effic... read more

The enactment of the Nigeria Enterprise, promotion Decree of 1972, otherwise known as Indigenization Decree, made many businesses which were higher in the hands of foreign business men to pass into the hands of Nigerians. Perhaps by more co-incidences the economy became over liquid. The result at the excess liquidity was inflation. To succeed in this new challenge passed by the said Indigenization Decree, Nigerian entrepreneurs and business concerns need at least a fair comprehension of essen... read more

Inventory valuation allows companies to provide a monetary value for items that make up their inventory (stock). Inventories are usually the largest current asset of a business and are as important as funds (cash). It is a form of fund tied up in assets (current assets). Its proper or accurate measurement or valuation cannot be overlooked as it forms a greater percentage of an enterprise’s current assets in particular and a total asset in general. For manufacturing companies, inventories u... read more

The accounting system can be regarded as a universal phenomenon needs not only by individual but also by organization. For these reason bookkeeping and accounting records need to be properly scrutinized and analyzed. It can be truly said that the accounting system has become the foundation on which the whole fabric of modern commerce rest.Business transaction can only be carried out in the crudest forms and development for the modern credit system. With it obvious advantages of convenience wo... read more

The impact of financial ratios on the performance of a business organization is becoming more apparent to users of financial statement. Business’s performancecan be monitored with tools called financial ratios which help to interpret financial information about the company. According to Ofoegbu (2003), the more you know about how your business is performing, the easier it will be for you to make informed decisions about how to manage and grow your business. Accounting ratios are widely u... read more

For any economy to remain afloat in it’s bid for survival in today’s globalization, deregulation and liberalization of markets, it needs to have an efficient financial system to direct the allocation of its resources capital markets and institutions, of which the stock exchange is an integral part of have become of, paramount importance in a dynamic economy as Nigeria. The capital market is a sub-set of financial system that provides the accelerated growth of the economy. This it does by ... read more

For any economy to remain afloat in its bid for survival m today's globalization, deregulation and liberalization of markets, it needs to have an efficient financial system to direct the allocation of its resources capital markets and institutions, of which the stock exchange is an integral part of and have become of, paramount importance in a dynamic economy as Nigeria. The capital market is a sub-set of financial system that provides the accelerated growth of the economy. This is done by ef... read more

Nigeria as a nation is characterized by a developing economy due to the fact that the various sectors responsible for economic development are not optimally utilized as a result of which we have not being able to tap fully the natural resources that Nigeria is blessed with as it could increase our national earnings leading to an increase in per capita income instead. We have a reverse situation were there is low per capital income. Low standard of living increase in the level of insecurity etc. ... read more

Central banks are general known to be concerned with the maintenance of monetary stability. This task involves the regulation of money in circulation consistent with the absorphic capacity of the economy axiomatically, excessive growth in money supply rates to high rates of spending on domestic or foreign goods given that domestic supply of goods and services in essentially in elastic in the short run, excess liquidity is likely to result in substantial inflationary is likely to result in subs... read more

This study examined the effect of capital structure on corporate performance with reference to selected companies in Onitsha, Questionnaires and interviews were used to collect information from the selected companies in Onitsha, Anambra State. Analysis and observations were made which gave rise to the validity of the conclusion at the end of the analysis, the major finding were: 1. That these is a relationship between capital structure and cost of capital. 2. ... read more