Social Cost Accounting and Profitability of Glaxo Smith Kline Nigeria Plc. Listed On the NSE (Published)
This study examined the relationship between social cost accounting and profitability with a focus on GlaxoSmithKline Consumer Nigeria PLC in a case study. The study adopted employee benefits, incentives welfare and healthcare cost (EBI) and contribution to government revenue (CGR) as proxy for social cost accounting (the independent variables), while profit after tax (PAT) representing profitability was adopted as the dependent variable. Secondary data for the selected study variables were obtained through content analysis of the annual reports of GlaxoSmithKline for the period 2011 to 2018. The study employed descriptive statistics and multiple regression analysis based on the E-view 10 software as techniques for data analysis. The results revealed that all the independent variables had positive relationship with profit after tax, but only contribution to government revenue was significant at 5% level. The regression results also showed that the coefficient of determination (R-squared) value of approximately 0.94 indicating that 94% of changes in the dependent variable are accounted for by the combined effect of changes in the independent variables. The combined effect of variations of the explanatory variables significantly explained changes in the dependent variable with probability of F-statistic value of 0.000007 (at 5% level of significance). The study concluded that social cost accounting is significantly related to profitability. Based on the findings of the study it was recommended that the management of GlaxoSmithKline should continue to implement the social cost accounting policies already put in place as they provide a good social image for the company, and that would guarantee the long run success and survival of the company.
The Challenges of Comprehensive Account Auditing and the Rampant Use of Accounting Software (Published)
This study determined the challenges of comprehensive account auditing and the rampant use of accounting software. Specifically, the study determined the effect of accounting software over efficient bookkeeping and documentations as regards to sufficient audit evidence after comprehensive account auditing. The study also ascertained the effect of complacency in filing and bookkeeping common with firms that rely on accounting software in relation to misstatement, accounting error, fraud and corruption among the top managers and accountants. Finally, the study shall throw a spot light on accounting efficiency among firms. Three research questions guided the study. The design adopted for this study was descriptive survey and correlational research design. The study population comprised76 accountants in the 19 ministries in Anambra State. Mean and standard deviation were used to analyze the research questions. The instrument was validated by experts in accounting and Cronbach Alpha was used to determine the reliability of the instrument which obtained an overall reliability coefficient of 0.79. The study concluded that quality audit reveals the true profitability nature of a company in relation to its total assets, business transactions are lacking in source documents often called business paper due to the use of accounting software, absence of sufficient audit evidence from source documents has negative implications during software accounting audit; and auditors lack sufficient audit evidence from source documents during software accounting audit. The study therefore recommended proper book keeping, documentation and utilization of source documents to check mate system entries, constant periodic internal audit, which help to check the duties and activities of the staff. The study also recommended that constraint should be placed on the accessing of the software according to specific job descriptions, constraint should be placed on amendments and modifications of entries except on authorization and must be manned from the IT department and a manual record of all signed and approved amendments and modifications done, must be kept for reference purposes and during audit.
Basic Accounting Education: A Necessity for All (Published)
The paper examined the extent to which Accounting Education is taught to public secondary school students in Akwa Ibom State. The survey research design was adopted for the study. The population consisted of all SS1 students in Public Secondary Schools in Akwa Ibom State, totaling 2493 (1392 males and 1101 females). The cluster sampling technique was used in selecting 249 (136 males and 113 females) students as sample for the study. Data collection was done with a researcher-developed instrument tagged “Basic Accounting Education Questionnaire” (BAEQ). The instrument, which had 10 items, was duly validated and tested for reliability using the Cronbach alpha formula. Data analysis was done using the independent t-test. The result indicated no significant difference in the mean responses of the two groups of respondents regarding the poor status of Accounting education and dearth of accounting teachers in public secondary schools in the state. On the basis of this, it was concluded that Accounting Education is not given adequate attention in public secondary schools in Akwa Ibom State. The teaching of Accounting Education at the secondary school level in Akwa Ibom State is impeded by dearth of qualified teachers and teaching aids. It was recommended, among other things, that bookkeeping and financial accounting should be made a core and compulsory subjects at both the junior and senior secondary school levels in the state.
The Need for Ethics in Professional Accounting (Published)
This paper takes a glance at the vital moral problems faced by skilled accountants as they execute their roles once doing their daily businesses. The study conjointly examines the role of academic institutes in promoting and enhancing ethics within the world of accounting profession. Since, there is a requirement for ethics in accounting and what would result from acting unethical by accountants to the business entity. Accountants and auditors owe their purchasers and society duties and responsibilities demanded in various businesses for guaranteed transparency within the profession. Necessary notifications of accounting profession ethics are realized to be essential in every business background, hence, accounting should either be embedded either on inside associate organization’s culture or in associate individual’s angle.
The Impacting of the Accounting Environment Affecting the Quality of the Accounting Information (Published)
Nowadays, enterprise accounting plays a very important role in providing accounting information for the management and operation of enterprises, which is the basis for making economic decisions and managing the business owners. Besides, accounting information also supplies for the stakeholders such as state management agencies, business partners, investors, etc. Understandably, the information and accounting data presented in the financial statements must be clear and easy to understand for the users. The user here is understood to be a person with an understanding of business, economics, finance, accounting at an average level. Information on complex issues in the financial statements must be explained in the explanatory note. The objective of the study is to find out the factors affecting the quality of accounting information. The study results showed that there were 200 persons who are the accountants in Vietnam who interviewed and answered about 13 questions. Data collected from March 2017 to December 2017 for accountants in Vietnam. The paper had been analyzed KMO test, Cronbach’s Alpha and the result of KMO analysis which used for multiple regression analysis. Accountants’ responses measured through an adapted questionnaire on a 5-point Likert scale (Conventions: 1: Completely disagree, 2: Disagree, 3: Normal; 4: Agree; 5: completely agree). Hard copy and online questionnaire distributed among 1.000 accountants in Vietnam. The research result showed that three components affecting the quality of the accounting information in Vietnam with significance level 5 percent. The research results processed from SPSS 20.0 software.
Overview of Management Accounting Techniques (Published)
In every organization, management must plan, organize, guide, motivate, evaluate and control. The main role of management accounting is to support managers inside the organization in forecasting as well as monitoring the present and past performance, measures and reports financial and non-financial information as well as other types of information on the monthly basis or more frequent depending on organization in the relevance for specific management decisions and control system, that are intended primarily to assist managers in fulfilling the goals of the organization. In this paper, the researcher aims to review some of the modern management accounting techniques, their definitions, process, advantages, and benefits.
Research Factors Affecting the Organization of Cost Management Accounting: A Case of the Enterprises of Mining, Processing and Trading Constructions in the Southern Region (Published)
The primary role of a management accounting officer in an organization is to collect and provide appropriate and timely information to managers so that they can operate and control the organization’s operations and out decided. The enterprise managers often plan and make decisions about production schedules and schedules, marketing managers make decisions about advertising, promotion and pricing, and homes. Financial management often makes decisions on capital mobilization and investment. All these managers need information for their decisions. It is the management accounting staff that will provide useful information to managers at all levels of the organization. Therefore, a requirement for management accounting staff is that they must be knowledgeable about decision-making situations of managers. Besides, the research results showed that there were 150 accounting managers who interviewed and answered about 15 questions. The Data collected from 12/06/2016 to 15/12/2016 in the Southern region. The researcher had analyzed Cronbach’s alpha, KMO test, the result of KMO analysis used for multiple regression analysis. There are three components following: Political – economic environment, information technology system and human resource affecting the organization of cost management accounting at the enterprises of mining, processing and trading constructions in the southern region with significance level of five percent. The research results were processed from SPSS 20.0 software. The parameters of the model estimated by Least – Squares Method tested for the model assumption with 5% significance level.
That growing interest with the beginning of the 1970s by the employment Social Enterprise along with its economic growth has led to attempts to develop models for the measurement and disclosure of accounting data for the social function, and thus enable the Department to identify the importance of responsible social enterprise in terms of its impact on the performance and business results and then all this reflection on the ability of the financial statements the fair expression of truth and the development and performance of enterprise.As well as the Called community enterprises to act in a more responsible, where you want all categories on understand how these modules in environments in which they operate and thus in performance by taking decisions At present, many parties Relevant need to deal with information to identify the performance of a business and most of the information they need can be obtained partly from financial reporting standard, but even today does not meet all the needs of these users they need other types of information, such as social , which reflects the extent of behavior established by a responsible environment.The construction companies of the most important classes you need for accounting information and deals from To learn about the performance of the installations and especially nowadays where the global economy enters the third millennium, the era of globalization, which is influenced by a set of variables global economic was and still is and will remain radical and profound repercussions on the performance and business perspective that companies play a vital role in the economic development and social .Therefore the companies if it can play an active role in this area, they have committed themselves to social responsibility of accounting disclosure, which is the focus of attention of the accounting message recipients where these objectives vary, which is reflected in the differing quality of information representing the accounting message content, as reflected both on the language of the message and content of the accounting and presentation, so the information disclosure of corporate operations will definitely positive results at the local level and international level there by maximizing social welfare.
Forensic Accounting As a Veritable Tool for Efficient Management of State Owned Public Sectors in Ebonyi State: The Accountants Perspective (Published)
The study was carried out to find out the uses of forensic accounting as well as the basic skills required for the use of forensic accounting in state owned public sectors in Ebonyi state, Nigeria. Two research questions and hypotheses guided the study. The population of the study comprised of One hundred and fifty six Accountants working in the state ministries in Abakaliki urban. A sample size of sixty two (62) accountants was used. Out of sixty two (62) copies of the questionnaire distributed only sixty copies (60) were returned. The study found out the uses as calculation of economic damage, determining the level of bankruptcy or insolvency for an organization, act as a guide in re-organization of organizational financial activities, used to check on security fraud, used for valuation of a business, etc. The basic skills required for the use of forensic accounting in public sectors include: knowledge of preparing financial statements, ability to compute key financial ratios, being informed on the types of audit evidence etc. The researchers conclude that forensic accounting is essential in every organization especially public sectors and recommended that tertiary institutions offering accountancy and accounting education should ensure that forensic accounting is offered not just in the post graduate level but equally at the under graduate level and to curb the incessant cases of corruption in public sectors in Nigeria, forensic accounting must be professionally practiced in all organizations.
THE EFFECT OF USING ACCOUNTING INFORMATION SYSTEMS TO IMPROVE THE VALUE CHAIN IN BUSINESS ORGANIZATIONS – EMPIRICAL STUDY (Published)
The study aims to introduce the conceptual framework of the value chain as an analytical method for business organizations, and the analysis of the role of accounting information systems and the effect of their use in improving the value chain of the business organizations. The two researchers developed a study tool (questionnaire) based on the theoretical framework and previous studies. 64 questionnaires have been distributed to a sample of the study population, which consists of employees in the finance department of public shareholding industrial companies in the Kingdom of Bahrain. 50 questionnaires have been adopted and 14 were excluded due to their incompatibility with the analysis. Using the appropriate statistical analysis tools for the study data (arithmetic mean, standard deviation, and testing of T-test One Sample) the researchers found a deficiency in the level of the availability of the basic components of accounting systems and the level of the quality of accounting information required to improve the value chain of business organizations in public shareholding industrial companies in the Kingdom of Bahrain in general. According to the results of the analysis the researchers recommended the need to work on improving the level of the basic components of accounting systems to improve the quality of accounting information, in order to improve the value chain of public shareholding industrial companies in the Kingdom of Bahrain; specifically in regards to the existence of clear and specific work procedures in the accounting system, the level of the effectiveness of internal control measures, clear definition of responsibilities and authority, and management’s attention in training and continuing education programs for employees.
THE IMPACT OF ACCOUNTING DISCLOSURE ON INCREASING THE PROFITS OF INSURANCE COMPANIES: THE CASE OF JORDAN (Published)
The interest in accounting disclosure recently became of growing interest by various stakeholders by both public and private institutions throughout the world. This is not only due to the orientation toward unifying the global financial systems, but also as an attempt to explain and influence the financial crises. This study attempts to describe the impact of the accounting disclosure on increasing the profits of the Jordanian insurance companies .This study aims at comprehending the impact of accounting disclosure on increasing profits of insurance companies in Jordan .It mainly tries to explain the relationship between accounting disclosure and profits on one hand , and clients satisfaction on the other hand. A questionnaire was administered among a representative sample and statistically analyzed. Results show that a statistical relationship exists between firms accounting disclosure and both attained goals and customer satisfaction. The study recommends more awareness to insurance company of the importance of accounting disclosure form the great importance it entails to such companies.
In public sector accounting, government ministries and parastatals operate a cash basis of accounting which is believed to be simple in operation and understanding by staff that may not simply have a rigorous training in accounting. A great disadvantage is that it does not recognise assets, debtors and liabilities. This principle negligence is capable of introducing negligence into proper record keeping of how much value of infrastructural assets are being developed in the pass fiscal years, their state of activity and possibly resulting to a repetition of projects, poor monitoring of budget implementation and misappropriation of fund. The authors took a frank analysis of the implications as they relate to the consistent problem of poor budget implementation in Nigeria. This study was based on empirical analysis of one hundred and thirty (130) questionnaires distributed to 130 public servants in the civil service of Bayelsa, Delta and Rivers States of Nigeria. The researchers used version 19 of SPSS to analyse the data using paired sample “t” test with the result that cash basis has a positive effect on budget implementation and fair presentation of the financial position of a government. The researchers recommended that the accrual basis of accounting should be adopted by all government ministries and extra-ministerial departments in Nigeria
Although accountability is widely believed to be a good thing, the concept is highly abstract and it is often used in a very general way. Accountability is one of those words more often used than understood. The political reality is that accountability means that the government of the day must justify and explain its actions to the public, in the hope of maintaining trust and being re-elected.
A typical definition is that accountability concerns the processes by which those who exercise power whether as governments, as elected representatives or as appointed Officials, must be able to show that they have exercised their powers and discharged their duties properly. Theory and practice suggest that accountability practice in public sector is weak due to several reasons as shall be explored further in this study. While much of the accountability research work has focused on financial management accountability practice, little has been done on non-financial issues of accountability practice.
Public sector reforms and increased democratic space have given rise to greater demand for enhanced accountability practice in public service more than ever before. Citizens now demand for fair treatment, efficient and effective service delivery, citizen engagement in policy making and more specifically, the observance of the rule of law. This study therefore sought to establish the extent to which the whole range of accountability practices was evident in Kenya’s public sector. The study revealed that the current practice is one that promotes accounting for resources spent more than promoting accountability. It was further noted that public servants were more accountable to their seniors, the heads of departments and ultimately the president and his Cabinet than they were to the public which has put the government in place. Several lessons were learnt from this study which will be used to provide insight into the practice of accountability in public sector.
Accounting Procedural Bottlenecks and Delay in Payment System in Tertiary Institutions in Ondo State, Nigeria (Published)
Tertiary Institutions in Nigeria have been passing through crisis which had threatened the ideals of the institutions. The issue of delay or prolong payment or refund of incurred expenditure to a member of staff of any institutions either for attending training / conferences or for the upkeep of an institutions has been a subject of discuss in recent time. Often time a member of staff is deprived of attending training and conferences which they are due for and qualified to attend either due to lack of funds or more often as a result of late approval and release of funds. The difficulty involved in accessing fund in our institutions can be ascribed to the unnecessary bureaucracy/ bottlenecks created within the system. This has undoubtedly caused a setback to the growth of our institutions. The study was carried out to find out the factors responsible for the delay and suggest ways for improvement. The study was a case study, survey design while the analysis follows the empirical causal design. Five randomly selected institutions in Ondo state were sampled for the study. 100 copies of structured questionnaires designed on a 5-point likert rating scales were distributed to the respondents. 94 copies of the questionnaires were duly filled and returned. Data obtained from the questionnaires were presented in tables and analysed with the use of descriptive statistics and Pearson Correlations. The study reveals that the delay in payment/ refund of staff entitlements was due to major management bottlenecks or bureaucracy and to a little extent a kind of constraints from the bursary and audit units.