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
Share a Comment
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
» CHAPTER ONE INTRODUCTION Background of Study Natural phytochemicals derived from medicinal plants have gained significant recognition in the potential...Continue Reading »
74 pages | 162 hits | Source: ACCOUNTING
2. PLANTING TIME, SPRAY REGIME, DISEASE EXPRESSION AND THEIR IMPACTS ON SIX CUCUMBER LINES IN A DERIVED SAVANNA AGROECOLOGY OF NSUKKA, SOUTHEASTERN NIGER...» ABSTRACT Cucumber (Cucumis sativus L.) belongs to the Cucurbitaceae family. It is a major vegetable crop worldwide and develops rapidly, with a shorte...Continue Reading »
52 pages | 259 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 Background of the study The construction industry plays an important role in the development of the economy of the countr...Continue Reading »
64 pages | 238 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 Background of the study In every organization there are people who ensure that the system continues, these are the manage...Continue Reading »
58 pages | 278 hits | Source: ACCOUNTING
5. AN EVALUATION OF THE EFFECT OF ACOUNTING RECORDS ON THE PERFORMANCE OF SME IN NIGERIA A STUDY OF SELECTED SMES IN LAGOS METROPOLIS» ABSTRACT The research provides a theoretical and case study appraisal on the effect of accounting records on the performance of SME in Nigeria. It elu...Continue Reading »
69 pages | 177 hits | Source: ACCOUNTING
6. THE INFLUENCE OF ACCOUNTANT IN THE IMPLEMENTATION OF BEST PRACTICE (ACCOUNTABILITY, PROBITY AND TRANSPARENCY)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY: Corruption and looting of public treasury is a major problem in the public sector accounting. Re...Continue Reading »
67 pages | 197 hits | Source: ACCOUNTING
» ABSTRACT Fraud means an act of dishonesty, deceit and imposture. According to Kirk Patrick , a person who pretends to the something he is not is...Continue Reading »
50 pages | 191 hits | Source: ACCOUNTING
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Working Capital is the investment at the firm in short term or current assets, which include ...Continue Reading »
60 pages | 61 hits | Source: ACCOUNTING
9. THE IMPACT OF MICROFINANCE BANKS IN STIMULATING THE BANKING HABIT OF RURAL DWELLERS IN NIGERIA (A CASE STUDY OF ROYAL TRUST MICRO FINANCE BANK, IJU-I...» ABSTRACT Microfinance banks are banks that provide banking or financial services other than services provided by commercial banks targeted at people l...Continue Reading »
52 pages | 151 hits | Source: ACCOUNTING
10. THE IMPACT OF FINANCING INFRASTRUCTURAL FINANCING (A CASE STUDY OF AKWA IBOM STATE GOVERNMENT FROM 1999-2006).» CHAPTER ONE 1.1 INTRODUCTION (BACKGROUND OF THE STUDY) Part of developments in any country is widely held to be infrastructural. Infrastructural devel...Continue Reading »
45 pages | 363 hits | Source: ACCOUNTING