The need for keeping prompt and accurate record of transaction in the government services of the receipt and disbursement of public fund cannot be over-emphasized. This is why the officers of the Accountant –General of the federation in whose hands this duty falls, has over the years been engaged in the determination of procedure to achieve an optimum effectiveness of these recordings.
The management of public fund regimes an appropriate and comprehensive accounting system. This has necessitated the formulation of a number of control measure to ensure accountability and probity right from the budget proposal level to the actual implementation.
As government spending grows, there is the need to do more than our tailing spending within appropriate amount as it is entirely possible to expend money without reaping the reward for such scientific. Thus, the need to evaluate the benefits and manage the costs become more essential. This is the enrolment of accounting, and its efficiency and effectiveness manifests the impact on the governed.
1.1 BACKGROUND OF STUDY
The management and control of the public fund is the heart of government administration. This calls for the need for an acceptable accounting system that will comprehensively prefer solution to the accounting needs of the government on public funds is governed by the financial (control and management). Act of 1958 A to E into section 154, dealing with the operation of the consideration Amendment of 1957 which inserted sub –154 A to E into section 154, dealing operation of the constrained therein formed the based of the financial Act which were replicated with slight changes in the 1979 and 1989 constitution, Higher to , government accounting is regulated by section 129 –145 of the constitution, the laws enacted by government in power, the financial control and management Act 1958, by decree and acts enacted from time to time.
The management and control of the public fund is invested on the federal ministry of finance and this rests on the shoulders of the Treasury now referred to as the office of the Accountant General.
In the treasury its self, functions and duties are streamlined to a set of guide. This is because government accounting is based strictly on cash”.
The expenditure and receipts for the year are balanced and closed for the year and there is no transfer to the next period.
The financial regulation, treasury accounting manual, and regulation. That guide the treasury in the management and control of the public find of the government whose objective is service.
This study is directed to a division of the treasury the federal pay office, Enugu. It will be concerned mainly with the duties and functions of the office, the effectiveness of the accounting as it relates to the goals of the
Government which is service. The study will also determines to what extent the principles, rules and regulation governing. The government accounting system is being utilized and its effect on the general public.
The federal pay office, Enugu which is the main focus of this work has the following as its main general duties:
i. receiving and payment of cash.
ii. Keeping of cash book to record all the cash transaction.
iii. Operation of a bank account on which cheques are drawn.
iv. Providing information on the cash position at a given date.
Effectiveness of these duties are enhanced through the establishment of internal check system in its operation to minimize fraud and loss of funds.
The federal pay officer is the head of this office. Going by the provision of financial regulation (ff) section 104 (II), the officer “ is entrusted with the receipts, custody and disbursement of public money and is required to keep one of the recognized cash books, the transaction in which are subsequence embodies in the accounts rendered by the accountant – general of the federation”.
Can't find what you are looking for?
Call (+234) 07030248044.
OTHER SIMILAR ACCOUNTING PROJECTS AND MATERIALS
AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)
CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »
A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »
AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)
HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »
APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA
2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »
ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA
ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »
ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)
THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »
What are looking for today?
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
70,540 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
51,780 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
47,359 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
46,680 people found this useful
IMPACT OF E-LEARNING ON THE ACADEMIC PERFORMANCE OF UNDERGRADUATE STUDENTS (A CASE STUDY OF NATIONAL...
46,288 people found this useful
CAUSES AND EFFECTS OF COMMUNICATION BREAKDOWN IN AN ORGANIZATION (A case study of champions’ brewe...
43,808 people found this useful