Get the complete project »
- The Complete Research Material is averagely 63 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
1.1 Background of the study
A treasury single account (TSA) is an essential tool for consolidating and managing governments’ cash resources, thus minimizing borrowing costs. In countries with fragmented government banking arrangements, the establishment of a TSA should receive priority in the public financial management reform agenda (IMF, 2011). Government banking arrangements are an important factor for efficient management and control of government’s cash resources. Such banking arrangements should be designed to minimize the cost of government borrowing and maximize the opportunity cost of cash resources. This requires ensuring that all cash received is available for carrying out government’s expenditure programs and making payments in a timely fashion. Many emerging market and developing countries have fragmented systems for handling government receipts and payments (Adeolu, 2015). In these countries, the ministry of finance/treasury lacks a unified view and centralized control over government’s cash resources. As a result, this cash lies idle for extended periods in numerous bank accounts held by spending agencies while the government continues to borrow to execute its budget. A government lacking effective control over its cash resources can pay for its institutional deficiencies in multiple ways. First, idle cash balances in bank accounts often fail to earn market-related remuneration. Second, the government, being unaware of these resources, incurs unnecessary borrowing costs on raising funds to cover a perceived cash shortage. Third, idle government cash balances in the commercial banking sector are not idle for the banks themselves, and can be used to extend credit. Draining this extra liquidity through open market operations also imposes costs on the central bank. Establishing a unified structure of government bank accounts via a treasury single account (TSA) will solve these problems, improving cash management and control. It should, therefore, receive priority in any public financial management reform agenda. A TSA also facilitates better fiscal and monetary policy coordination as well as better reconciliation of fiscal and banking data, which in turn improves the quality of fiscal information. Finally, the establishment of an effective TSA significantly reduces the debt servicing costs (IMF, 2011). A TSA is a unified structure of government bank accounts that gives a consolidated view of government cash resources. Based on the principle of unity of cash and the unity of treasury, a TSA is a bank account or a set of linked accounts through which the government transacts all its receipts and payments. The principle of unity follows from the fungibility of all cash irrespective of its end use. While it is necessary to distinguish individual cash transactions for control and reporting purposes, this purpose is achieved through the accounting system and not by holding/depositing cash in transaction specific bank accounts. This enables the treasury to delink management of cash from control at a transaction level. Recently in year 2015, the new elected president of Nigeria, Mohammadu Buhari has introduced and enforced compliance with Treasury single account in the country with the use of REMITA. Nigeria are of divergent opinion as some has hailed the development while other has continued to criticize it. However, this study is examining the prospects and challenges of Treasury Single account in Nigeria.
1.2 STATEMENT OF THE PROBLEM
Treasury single account TSA has a lot of prospects and challenges for developing economy. In practice, the government banking arrangements may consist of several bank accounts which can be at both the central bank and commercial banks. However, the balances in commercial banks should be cleared every day and all government cash balances should be consolidated in one central account—the TSA main account—of the treasury at the central bank. However, Issues related to cash management should not be confused with issues related to the distribution of responsibilities for accounting control and administration of the payment system. A TSA can operate with both centralized and decentralized (or deconcentrated) transaction processing and accounting control systems.
1.3 OBJECTIVES OF THE
The following are the objectives of this study:
1. To examine the prospects of Treasury Single Account in a developing economy.
2. To examine the challenges of Treasury Single Account in a developing economy.
3. To identify the effectiveness of Treasury Single Account in Nigeria.
1.4 RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
H0: there are no prospects of Treasury Single Account in a developing economy.
H1: there are no prospects of Treasury Single Account in a developing economy
H02:there are no challenges of Treasury Single Account in a developing economy
H2:there are challenges of Treasury Single Account in a developing economy
1.5 SSIGNIFICANCE OF THE STUDY
The following are the significance of this study:
1. The outcome of this study will educate the Nigeria populace on the prospects and challenges of Treasury Single Account TSA on Nigerian economy.
2. This research will be a contribution to the body of literature in the area of the effect of personality trait on student’s academic performance, thereby constituting the empirical literature for future research in the subject area.
1.6 SCOPE/LIMITATIONS OF THE STUDY
This study will cover the benefits and the limitations of Treasury single account on Nigeria economy
LIMITATION OF STUDY
Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
1.7 DEFINITION OF TERMS
PROSPECT: The possibility or likelihood of some future event occurring.
CHALLENGES: A call to someone to participate in a competitive situation or fight to decide who is superior in terms of ability or strength
TREASURY: A treasury is either A government department related to finance and taxation. A place or Schatzkammer where currency or precious items like gold, diamonds etc are kept. The head of a treasury is typically known as a treasurer
TREASURY SINGLE ACCOUNT: A treasury single account (TSA) is an essential tool for consolidating and managing governments’ cash resources, thus minimizing borrowing costs
DEVELOPING ECONOMY:A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human
1.8 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows
Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study
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. ASSESSING THE IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM USAGE ON ORGANIZATION PERFORMANCE IN TANZANIA: CASE STUDY ON LGAs IN ARUSHA REGION» CHAPTER ONE INTRODUCTION 1.1 Introduction The statement of problems, objectives of the research, also the significant of the re...Continue Reading »
2. THE IMPACT OF PUBLIC SECTOR ACCOUNTING IN NIGERIA FINANCIAL CONTROL SYSTEM (A CASE STUDY OF ESAN SOUTH EAST LOCAL GOVERNMNENT AREA, EDO STATE).» ABSTRACT This research was aimed at finding out the impact of public sector accounting in Nigeria financial control system using Esan south east local...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study The contribution of the healthcare sector to the growth and development of the entire economy can...Continue Reading »
4. THE EFFECT OF STOCK CONTROL PROFIT MAXIMISATION IN MANUFACTURING COMPANY (A STUDY OF NIGERIAN BOTTLING COMPANY LIMITED, KADUNA)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Stock is frozen cash and as such should be given the same if not more priority than liquid cash. ...Continue Reading »
» CHAPTER ONE 1.0 INTRODUCTION The banking system is an important sector of the economy because it acts as an agent for mobilizing funds from those who ...Continue Reading »
6. BUDGETING AS AN INSTRUMENT OF INTERNAL CONTROL IN A MANUFACTURING ORGANIZATION (A Case Study Of Ama Breweries Enugu)» ABSTRACT An efficient budgeting control system is one that produces the desired result. A balanced budget is the one that produces no variances but to...Continue Reading »
7. THE IMPACT OF BUDGETING AND BUDGETARY CONTROL ON THE PERFORMANCE OF A MANUFACTURING COMPANY IN NIGERIA» CHAPTER ONE INTRODUCTION 1.0 BACKGROUND TO THE STUDY The changing complexity of business activities and the ever changing conditions of business envir...Continue Reading »
» ABSTRACTThe issue of corporate tax avoidance hasreceived vast empirical examination in Western academe. This vast examination has however not been ech...Continue Reading »
» CHAPTER ONE1.1 Background of the study.The basic economic problem that confronts an under developed or a developing country and especially the new ind...Continue Reading »
10. THE ROLE OF PUBLIC RELATIONS IN ENHANCING CUSTOMERS’ SATI STATION (A CASE STUDY OF NIGERIAN AIRWAYS ENUGU)» ABSTRACT This study is aimed at pointing out the function of pubic relations officer in customer’s satisfaction in Nigeria Airways Enugu. Resear...Continue Reading »