ABSTRACT
This
research project management benefits of accounting profession to business
organization is aimed at x-raying the various ways the profession has helped
the management in their plans since 1970 to date.
The research within the limitation of
the study will make a proper
investigation on how the profession has contributed to the growth of our infant organization and how it has helped them in
making a national decision in their day to day business operations. How it has also helped them in their surplus
income in different investment in order to maximize their shareholder wealth.
The research shall find out that this
profession has helped the nation in mapping out her policies and in proper implementation of those policies
mapped out. This study will show us how the profession helped the management,
entrepreneurs in making use of the available resources to embark in different
investment by exposing them in different alternative course of actions. In the
view, the study will x-ray the area where the professions has failed the
economy of the organization. The study will suggested and recommended the
possible ways to remedy the unfavorable situation if any.
They research will equally present in more comprehensive manner the
findings an recommendation which should be useful to any research should be
useful to any researcher making further study in the topic.
TABLE OF CONTENTS
Title page
Approval
page
Dedication
Acknowledgement
Abstract
Table of
contents
CHAPTER ONE
1.0
Introduction
1.1 Statement of the Problem
1.2 Objectives of the Study
1.3 Scope of the study
1.4 Significance of the study
CHAPTER TWO
2.0
Definition of
Accounting
2.1 Origin of Accounting
2.2
The benefits of Accounting Profession for
Business
organization
2.3
Contribution of professional bodies to management
Business
organization
CHAPTER THREE
3.0
Summary of Findings, Conclusion and Recommendation
3.1 Findings
3.2
Conclusion
3.3
Recommendation
Bibliography
CHAPTER ONE
1.0
INTRODUCTION
Purpose and
nature of accounting, the underlying
purpose of accounting is to provide financial information about
business enterprise. The financial
information provided by an accounting system is needed by the management decision
making, to help them plan and control the activities of business organization,
financial information is also needed by outsider that is creditors, potential
investors, the government and public who were supplied money to the business or
who have other interest in business that
will be served with information about the financial position and operating
results.
In order to
provide useful financial information about a business enterprise, we need some means of keeping
back of the daily business activities and the summarizing results in accounting
system.
The first
function of accounting system is to creat a systematical record of the daily
business activity, in the term of money
for instance, goods and services are purchase and sold, credit extended to
customers, debts are incurred, and services and cash is received and paid out.
These
transactions are typical of business events which can be expressed in monetary
terms and must be enter in accounting record. The more expression of an intent
to but goods or services in the future does not represent a transaction.
Transaction
refers to a completed action rather than to an expected or possible future
action. The recording of a transaction may be performed in many ways that is by
writing with pen or pencil, by printing with mechanical or electronic equipment
or by punching holes or making magnetic impressions on cards or tape. Not all
business events can be measure and
describe in monetary terms.
Therefore,
it is not shown in the accounting records the appointment of a new chief
executive, the signing of a labour contract, or the appearance of a new
competing business.
In addition
to compiling a narrative record of events as they occur, transactions and
events into related group or categories are classified.
The
classification enables as to report a mass of detail into compact and lessable firm. For instance grouping all
transactions in which cash is received or
paid out, a logic step in developing useful information about the
cash position of a business enterprise.
To organize
accounting information in a useful form
the classified information is summarized into accounting reports designed to
meet the information needs of the decision makers.
These three
steps recording, classifying and summarizing are the means of creating
accounting information.
It also
involves communicating this information to an interested parties and interpreting as it relates to
specific business decisions.
1.1 STATEMENT OF THE PROBLEM
The
statement of the researcher problem serves to relied upon the information in
the title of the study. This study is
concerned with the examination of the management benefits of accounting
profession in business organization. “The problem could be categorized as the
concept of management business organization and the benefits financial
accounting plays to this conceptâ€. This research project has two important
parts, the questions and the answers to
them.
This
research also seeks to find out the extent of which the financial accounting
has help management business organization by addressing them in the following.
1.
Do the business organization keep any financial
records?
2.
What type of records to they keep?
3.
Do the organization account for their stewardship?
4.
Do the management employ the services of accountants in
their organization.
1.2 OBJECTIVES OF THE STUDY
The aim of this research project is to address the
following.
a.
To discuss the concept of management business
organization
b.
To ascertain what services accountants are expected to
perform and analyze in detail various ways they have contributed to the
management.
c.
To ascertain whether the accountants are living up to
expectations, if not, suggest ways of making up the deficiencies for better
performance in future.
d.
To ascertain how far accounting profession has helped
in business organization. The four objectives stated above are expected to
enable the researcher take a proper records of the role played so far, by the
accounting profession towards the management business organization which is the
focus of this study.
1.3
SCOPE OF THE STUDY
This
research project is concerned with the parts of this topic or problem that
normally might be considered to be part of such. But of which this is because
of limitation of time physical capacity or other reasons the researcher cannot
include all. So the scope of the researcher is the management benefits of
accounting profession to the business organization.
1.4 SIGNIFICANCE OF THE STUDY
This refers to the important of this research to the
management. The main purpose is every research is to provide knowledge and
information that will bring about a better understanding of the management
benefits of accounting profession to business will be able to know the extent
to which the accounting profession has helped the organization in various
activities. The researcher will also enable the organization to appraise the
accounting technique in operation with a view to correcting any lapse which
maybe evidence during the investigation process when completed this researcher,
findings and recommendations will form a based to be relied upon by subsequent researchers who may wish to make
further inequities into the system of the management benefits of accounting
profession to business organization.
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