Get the complete project »
- 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
The objective of this study was to evaluate the internal control system in operation at power holding company of Nigeria Plc in Enugu State with a view to knowing its impact on revenue generation in the state. A sample of 40 was selected for the study randomly. The questionnaires were used in gathering the primary data while secondary data were collected from the work of others in the form of literature review. The data collected were analyzed using the chi-square (x2) as the statistical tool to determine the valuation of the hypothesis. The findings concluded that weak internal control system encourages collusion fraud loss of revenue, embezzlement and computation. This have always impeded the company’s ability to effectively supply electricity to customers and there from generate revenue. Internal audit system ensures operations compliance with set policies, promoting accuracy and reliability of transactions recording. In addition, effective internal control system ensure effective recommends the remodeling of the company’s internal control system and strengthening of the investigating unit. The components sectors of the present corporate Power Holding Company of Nigeria PLC should be unbundled into separate distinct independent entities that handle generation, transmission, distribution and marketing. It further recommends that prepaid meters should be seen as an alternative to further accumulate debts.
TABLE OF CONTENTS
Title page i
List of figures v
Table of contents vii
CHAPTER ONE: INTRODUCTION
1. Background Of The Study 1
1.1 Statement Of Problem 6
1. Objective Of The Study 8
2. Significance Of The Study 8
3. Scope and Limitation Of The Study 9
4. Research Hypothesis 10
5. Research Questions 11
6. Historical Background of Power Holding Company of
7. Definition of Terms 14
REVIEW OF RELATED LITERATURE
2.1 What is Revenue? 17
1. What is Internal Control System 18
2. Objectives of Internal Control System 20
3. Types of Internal Control System 21
4. Components of Internal Control System 23
5. Functions of Internal Control System 56
6. Roles and Responsibilities. 58
7. Internal Control System And The Auditors 62
8. Operation Of Internal Control System At Power Holding Company Of Nigeria 64
9. Limitation Of Internal Control System 71CHAPTER THREERESEARCH METHODOLOGY
1. Research Design 73
2. Sources Of Data 74
3. Population Of The Study 75
4. Sample Size 75
5. Description Of Questionnaire 76
6. Method of Data Analysis 76
7. Statistical Test For Hypothesis 77CHAPTER FOUR DATA PRESENTATION, ANALYSIS AND INTERPRTATION
1. Data Analysis and Interpretation 78
2. Test Of Hypothesis 84
1. Hypothesis One 84
2. Hypothesis Two 86CHAPTER FIVESUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
1. Summary Of Findings 88
2. Conclusion 89
3. Recommendation 90
4. Suggestions For Further Investigation 91Bibliography 92Appendices 96
1. BACKGROUND OF THE STUDY
Every organization has a purpose, which includes making some product and rendering some services at a price. For normal operations of the business organization, it is the product or services of the firm that cause cash receipts (revenue) to flow into the firm. Revenue is associated with products or service of a firm as source of expected cash receipts. Revenue is an event; an increase that applies definitely to value that is monetary. This increase occurs because the firm undertakes certain activities or there is any performance by the firm.
Revenue therefore refers to the monetary event of asset valves increasing in the firm due to the physical event of production or sales of the firms’ products or services.
In Kam (1987:237), Financial Accounting Standard Board(FASB) defines revenue as inflows or other enhancements of assets of an entity or settlements of its liabilities (or combination of both) during a period from delivery or producing goods, rendering service or other activities that constitutes the entity’s ongoing major or central operations. In addition, Hongreen et al (2002:568) described revenue as inflows of asset (almost always cash or accounts receivables) received for products or services provided to customers.
On the basis of the above, National Electric Power Authority now Power Holding Company of Nigeria is a government owned public utility establishment enjoying almost total monopoly in generating, transmitting and delivering electricity to all homes and businesses in Nigeria. According to the establishments customer service chartered (2004), her mission as a service industry is to satisfactorily meet customers electricity demand in the most cost effective manner using proven technology and well motivated customer friendly work force with adequate consideration for the environment.
Her goals include:
I. To continuously improve her service to her customer.
II. To realize full payment for timely accurate and complete billing of electricity delivered.
III. Institutionalise business and commercial orientation among the work force.
IV. Gradually aiming at closing the gap between demand and supply by upgrading and expanding, generating, transmission and distribution of infrastructure.
V. To improve skills and motivation of staff.
To achieve the above mission and goals, the management of the establishment must adopt measures to ensure that available resources are prudently used to obtain valve for money from resources allocated to them. Management in turn should generate operational data with which they evaluate the efficiency and effectiveness of their operation. It is fundament aspect of management stewardship responsibility to provide interested parties with reasonable assurance that their organisation is effectively controlled and that the accounting data it receives on a timely basis are accurate and dependable. Developing a strong system of internal control provides this assurance.
Thus internal control is defined as the whole system of control, financial and otherwise established by the management in order to carry on the business of the enterprise in an orderly and efficient manner to ensure adherence to management policies safeguard the assets and secure as far as possible the completeness and accuracy of the records. In addition the American institute of Certified Public Accountants in 1949 defined internal control as comprising the plan of organisation and all the coordinate methods and measures adopted within a business (or non profit making body) to safeguard its assets, check the accuracy and reliability of its accounting data promote operational efficiency and encourage adherence to prescribed managerial policies. A ‘system’ of internal control extends beyond those matters which relate directly to the functions of the accounting and financial department.
However, it is an established fact that all the business units and service centr
You either get what you want or your money back. T&C Apply
Share a Comment
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
» TABLE OF CONTENTS Title Page Title Page i Declaration ii Certification iii Dedication iv Acknowledgement v Table of content vi List of Tables x Abstra...Continue Reading »
80 pages | 220 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY One of the major assets of any company or business are their inventories and they represent a lar...Continue Reading »
52 pages | 47 hits | Source: ACCOUNTING
» ABSTRACT Auditing has been used by governments and Private Enterprises for a long period as a tool for efficient and effective management and control ...Continue Reading »
66 pages | 569 hits | Source: ACCOUNTING
» Abstract This research work has investigated “ the internal audit as a tool for management control” (A case study of project development i...Continue Reading »
62 pages | 131 hits | Source: ACCOUNTING
5. COST ACCOUNTING AND CONTROL IN THE AGRICULTURAL SECTOR PROBLEMS AND SOLUTIONS. (A CASE STUDY OF LIVESTOCK FEEDS NIGERIA PLC)» ABSTRACT This research work was necessitated by the need to highlight, the cost accounting and control problems inherent in the agricultural sector an...Continue Reading »
52 pages | 509 hits | Source: ACCOUNTING
» INTRODUCTION 1.1 BACKGROUND OF THE STUDY The impact of financial reporting on the corporate performance of a business organization is becoming more ap...Continue Reading »
67 pages | 132 hits | Source: ACCOUNTING
7. 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 »
50 pages | 204 hits | Source: ACCOUNTING
8. THE IMPACT OF INTERNET BANKING ON PROFITABILITY OF COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF FIDELITY BANK PLC)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Internet banking is one of the gifts to human beings by computer technology. Use of computers hav...Continue Reading »
52 pages | 187 hits | Source: ACCOUNTING
9. THE EFFECT OF INTERNAL AUDIT ON THE PERFORMANCE OF THE PRIVATE FIRM : A STUDY OF M. B ANAMCO LTD, EMENE ENUGU STATE» CHAPTER ONE INTRODUCTION 1.1. Background of the Study Internal audit is a management tool used in ensuring transparency in conduct ...Continue Reading »
71 pages | 305 hits | Source: ACCOUNTING
10. IMPROVING EFFECTIVENESS IN ACCOUNTING SYSTEM IN THE NIGERIA EDUCATIONAL SECTOR (CASE STUDY OF AUCHI POLYTECHNIC)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Accounting aims, as an information system, to provide various users with different forms of useful in...Continue Reading »
52 pages | 336 hits | Source: ACCOUNTING