CHAPTER
ONE
INTRODUCTION
1.0 BACKGROUND
OF THE STUDY
Accountant is a
person who undergo a training in accounting system. He has to obtain a
certificate as an evidence that he has concepts of accounting efficiently
A banker is any person carrying out
the business of banking which includes accepting of deposits from customers,
accepting and keeping others valuables from their customers etc.
Management can either be persons
vested with the responsibility of directing the affairs of an organisation or
an act of doing such. Liquidation is then that process and work which the
appointed liquidation should do.
1.1 OBJECTIVES OF THE STUDY:
This research work
studies the role of accountants in managing and liquidating distressed banks.
More especially the objective of these study are:
To find out the roles
which the accountant can play in managing and liquidating distress banks.
To
find out the roles which the ways that the banks can liquidated.
To
find out the problems being encountered by the management during this period.
1.2 IMPORTANTS
OF THE STUDY:
The
importance of the study is that it will highlight the importance and consequences
of not managing the distressed banks properly.
Some of the benefits that may
occur from this research work ae as follows:
Banks will give them a way to face the
problems that leads to liquidation on time, that is to say that it will reveal
to them the causes of bank liquidation which they must guard against.
The masses and accountants will
equally benefit from this study because implementations of findings and
recommendation in this study will automatically leads to improve standard of
managing and closing the distressed banks.
1.3 SCOPE
AND LIMITATIONS OF THIS STUDY:
This
study basically covers the managing totally some of the distressed banks in the
country. However, the researcher being a student combining this research with
other academic work and also as a result of other constraints such as
communication barrier, time factor, money and so on the scope of this study has
been limited to only few distressed banks.
The
researcher was faced with some problems through the process of carrying out
this research study and much obstacles had contributed to the limitations of
the entire research work and some of the constraints encountered include:
a. TIME
FACTOR: Time was one of the greatest
limitating factor in carrying out this research, work because the research had
to be carried out concurrently with normal lecture schedule.
b. FINANCE:
Availability of funded certainly contributed in determining the researcher’s
area and special of investigations. Prices of all materials needed for the
worth and its production led sky rocked to almost 12 times their prices in the
recent past due to inflation.
1.4 DEFINITION
OF TERMS:
BANK;
This is an organisation that provides various financial services, and accepting
of valuables from their customers.
LIQUIDATING: It is process of closing a business and
selling everything it owns in order to settle their debtors.
ACCOUNTANT:
An accountant is that person who undergo a training in accounting system.
DISTRESSED:
It is a problem caused by not having enough money.
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