- The Complete Research Material is averagely 52 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
Get the complete project »

TABLE OF CONTENTS
Title page - - - - - - - - - - i
Declaration - - - - - - - - - - ii
Certification - - - - - - - - - - iii
Approval Page - - - - - - - - - - iv
Dedication - - - - - - - - - - v
Acknowledgement - - - - - - - - - vi
Table of contents - - - - - - - - - vii
Abstract - - - - - - - - - - ix
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study - - - - - - - 1
1.2 Statement of the Problem - - - - - - - 4
1.3 Objective of the Study - - - - - - - 6
1.4 Research Hypotheses - - - - - - - - 6
1.5 Significance of the Study - - - - - - - 6
1.6 Scope of the Study - - - - - - - - 7
1.7 Definitions of Key Terms - - - - - - - 7
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction - - - - - - - - - 12
2.2 Concept of Financial Ratio - - - - - - - 12
2.3 Ratio Analysis and Evaluation of Corporate Performance - - - 14
2.4 The Altman Model - - - - - - - - 21
2.5 Limitations of Altman Model - - - - - - 25
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction - - - - - - - - 27
3.2 Research Design - - - - - - - - 27
3.3 Population and Sample Size of the Study - - - - - 27
3.4 Sources of Data - - - - - - - 28
3.5 Methods of Data Analysis - - - - - - - 28
3.6 Justification of the Methods Used - - - - - 29
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction - - - - - - - - - 31
4.2 Brief History of Dangote Sugar Refinery Plc, Ashaka Cem Plc and Flour
Mills of Nigeria Plc - - - - - - - - 31
4.3 Data Presentation and Analysis - - - - - - 36
4.4 Test of Hypotheses - - - - - - - - 42
4.5 Discussion of Findings - - - - - - 44
4.6 Summary of Findings - - - - - - - - 47
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary - - - - - - - - - 48
5.2 Conclusion - - - - - - - - - 49
5.3 Limitations of the Study - - - - - - - 51
5.4 Recommendations - - - - - - - - 51
REFERENCES - - - - - - - - 54
ABSTRACT
Global business failure especially in developing countries have made it mandatory for investors and other capital providers to carefully assess the financial position of businesses in order to predict its viability and survival prospect for informed decision making. It is against this, the study examined theeffect of Altman model on manufacturing firms’ financial position in Nigeria using secondary data which was subsequently using financial ratios based on Altman model. This is because the Altman model suggests a more effective way of diagnosing corporate insolvency in which it used the multivariate analysis technique to calculate bankruptcy ratio. Finding reveal that Altman’s Z-score can be used not only in assessing and predicting corporate bankruptcy but other areas such as business credit evaluating, internal control procedures and investment guidelines. It is recommended that firms should be objective in financial reporting in accordance with ethical and professional standards.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Prolonged economic recession occasioned by the collapse of the world oil market from the early 1980 and the attendant sharp fall in foreign exchange earnings have adversely affected economic growth and development in Nigeria. Other problems of the economy include excessive dependence on imports for both consumption and capital goods, dysfunctional social and economic infrastructure, unprecedented fall in capacity utilization rate in industry and neglect of the agricultural sector, among others. These have resulted in fallen incomes and devalued standards of living amongst Nigerians. Although the structural adjustment programme (SAP) was introduced in 1986 to address these problems, no notable improvement has taken place.
From a middle income nation in the 1970s and early 1980s, Nigeria is today among the 30 poorest nations in the world. Putting the country back on the path of recovery and growth will require urgently rebuilding deteriorated infrastructure and making more goods and services available to the citizenry at affordable prices. This would imply a quantum leap in output of goods and services.The path to economic recovery and growth may require increasing production inputs - land, labour, capital and technology.
The production input in terms of capital (fixed assets and current assets) has ever since been inadequate for the manufacturing companies in Nigeria to function at full capacity as a result of low investment in the sector. Lack of funds has made it difficult for firms to make any significant achievement in terms of productivity and improving competition. Banks and other capital providers perceive manufacturing business as a high risk venture traced largely to their unwillingness to make credits available to manufacturers, owing partly to the mis-match between the short-term nature funds and medium to long-term nature funds needed by the manufacturing companies.
Every business organization is involved in financial management decision making. These decisions are about financing decision, investment decision, and dividend decision (Vanhorne: 2004 and Weston & Copeland: 1998). More also, corporate organizations seek to grow. To achieve such growth objective an expansion of their activities become a very crucial factor. One way of funding the activities of any business is through external sources of funds; and external sources of funds could be either through loans/issues of debentures or additional issue of shares of any kind. Whatever is the composition of a firm’s sources of capital, it has associated implications, measured interms of the cost of capital of that particular firm.
It is also worthy of note that investors, whether individual or institutional and other providers of capital, invest their resources in anticipation of returns. However, while pursuing this objective, the security of investments and loan become a serious concern of the investors and creditors. To evaluate the viability of a business organisation that provides reasonable returns in future, it becomes necessary to measure the past and present performance of the firm. Such measurements enable the decision makers to easily predict the future outcome of the organisational profitability and survival. Where the firm is found not to be profitable and/or the chance of its survival is highly uncertain, most investors will distance themselves from investing in such a firm.
One way of assessing the viability of a business organisation for informed decision making by interested parties is to express some figures in the financial statements of the organisation in terms of other figures. These expressions of some financial data in terms of others are known as the financial ratios. Another way for assessing the business viability is done through multiple discriminant analysis (Altman model) which allowed combination of some selected ratios likely to detect financial sickness of business organization.
Of all the tools of financial analysis, ratio analysis is perhaps the most widely used, but presently business organizations have started applying the Altman model as a result of its efficacy in predicting business bankruptcy prior to failure. Financial analysts are interested only in those ratios that are relevant in predicting financial distress. Altman model can enable an investor to conclude whether a liquidity position of an organisation is satisfactory or not, and also to determine the soundness or unsoundness of the firm’s capital structure. However, the firm’s ratios sometimes may be symptomatic of the firm’s problem. This calls for further assessment of business corporation to determine the causes or to draw conclusions of a qualitative nature. Comparison of financial soundness of the companies will be done base on the given score of the Altman model, which is called the Z-score.
The great advantage of Altman model is that, it reduces raw data of widely varying magnitude to a common comparative basis to predict bankruptcy. Thus, the Altman model provides information for shareholding decisions for the shareholders and other potential investors. What distinguishes shareholders from other finance providers is the fact that most shareholders are “outsiders”. Despite being nominal owners of the company, they have perhaps the least access to the private information and arguably the least control unless they are institutional investors with significant shareholding.
The ongoing reforms in the Nigerian economy have started to strengthen many businesses especially the banking and manufacturing business in the aspect of capital base and management team composition. Considering the strategic position of manufacturing sector in the Nigerian economy and as one of the most suffered sector in the country, it becomes imperative that all hands must be on deck to finance the sector. Since uncertainty exists in virtually all decision-making situations, investors and other users of financial statements are interested in evaluating the past performance of the firm they wish to invest in. This is also based on the norm that the knowledge of the past is an essential ingredient for predicting the future. Altman model is one of the popular investment evaluation techniques.
1.2 Statement of the Problem
Frequent business failure in most economies especially in developing countries have made it mandatory for investors
You either get what you want or your money back. T&C Apply

You can find more project topics easily, just search
-
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
-
1. TAX REVENUE AND ECONOMIC GROWTH OF NIGERIA (1981-2015)
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Effective tax administration is an issue as old as taxation itself. The balancing act between max...Continue Reading »Item Type & Format: Project Material - Ms Word | 102 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
2. THE INFLUENCE OF AUDITOR’S TYPE ON THE QUALITY OF FINANCIAL REPORTS OF MANUFACTURING FIRMS IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Over the years, the influence of auditors on financial reports of firms or companies all over the...Continue Reading »Item Type & Format: Project Material - Ms Word | 98 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
3. EXTENT OF COMPUTER LITERACY AMONG SECONDARY SCHOOL SCIENCE TEACHERS IN EZZA SOUTH LOCAL GOVERNMENT AREA OF EBONYI STATE
» Abstract The research work focused on the extent of Computer Literacy among Secondary School Science Teachers in Ezza South Local Government Area of E...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
4. STRATEGIES FOR PROMOTING ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA UNIVERSITIES
» Abstract The aim of this study is to examine the strategies for promoting entrepreneurship in Nigeria. Data were collected from both primary and secon...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
5. LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA (A Case Study Of Union Bank Of Nigeria Plc New Market Road Onitsha)
» PROPOSAL LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA. Lack of fund has been one of the major problems militating against...Continue Reading »Item Type & Format: Project Material - Ms Word | 81 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
6. TRENDS IN THE ACTIVITIES OF THE MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT ANAMBRA STATE, NIGERIA, 1991-2013
» ABSTRACT This study evaluated the impact of the extension services of Green River Project (GRP) on fish farmers in Niger Delta, Nigeria. Specifically,...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
7. DEBT RECOVERY PROCEDURES OF DEPOSIT MONEY BANKS IN NIGERIA. A CASE STUDY OF 3 BANKS
» Abstract Data mining has a great deal of attention in the information industry in recent year due to the wide availability of high amount of data and ...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
8. DIVIDEND ANNOUNCEMENT SECURITY PERFORMANCE AND CAPITAL MARKET EFFICIENCY, THE NIGERIA PERSPECTIVE
» CHAPTER ONEINTRODUCTION1.1 BACKGROUND TO THE PROBLEMThe availability of information is crucial to the successful pursuance of virtually every human en...Continue Reading »Item Type & Format: Project Material - Ms Word | 50 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
9. IMPACT OF COMMERCIAL BANK IN NIGERIA ECONOMY A CASE STUDY OF UNITED BANK OF AFRICAN (UBA)
» CHAPTER ONE 1.1 INTRODUCTION BACKGROUND OF THE STUDY The economy of any country consist of sectors these sectors include industrial transport, agricul...Continue Reading »Item Type & Format: Project Material - Ms Word | 75 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
10. FACTORS INFLUENCING THE ATTITUDE OF STUDENTS TOWARDS THE STUDY OF MATHEMATICS IN NIGERIA, USING KATSINA – ALA LOCAL GOVERNMENT AREA, BENUE STATE AS ...
» ABSTRACT Students have many different perceptions of mathematics. Most business and athletics leaders will talk about how the individual’s attit...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT