Accountability as seen by Iwumunne (1982:56) is the goal of any business entity. A mismanaged form is a failure. The main aim of business is profit maximization.
This cannot be achieved if financial mismanagement is enthroned in any form . in any business setting, the priority of management is to enable the firm to continue to finance its undertaking. This cannot be achieved without due regard to prudent financial administration
According to Muola Otanka (1975) the spirit of continuity of a business is the careful administration that will administer the financial undertakings. Really, the issue of financial impropriety has made many business collapsed. There are many ways to check the menace in both public and private life. Any method used is subsumed in effective control system which primarily cues form internal control.
According to Jonah Jenny (198212) internal control can be perceived in the following ways:
-Good record keeping of all transaction in the shop and factory
-Shop and factory
-Good stock control system
-Well-coordinated channel of raw material procurement
-Articulate handling of organizational behaviour seen kin the enterprise
-Effective trade union administration
-Efficient redundary control
-Good personal administration
-Avoidance of waste
-Good structural organization
-Acceptable party with government policies
-control of acquisitions
-Good pension scheme
There, he said are not exhaustive. It is when management recognizes the necessity of effective internal control system management of material and resources is very much possible. Quoting the issue of bank distress.
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
70,640 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
51,810 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
47,433 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
46,722 people found this useful
IMPACT OF E-LEARNING ON THE ACADEMIC PERFORMANCE OF UNDERGRADUATE STUDENTS (A CASE STUDY OF NATIONAL...
46,669 people found this useful
CAUSES AND EFFECTS OF COMMUNICATION BREAKDOWN IN AN ORGANIZATION (A case study of champions’ brewe...
43,865 people found this useful