Full Project-THE EXTENT OF RELIANCE ON FINANCIAL ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION

Click here to Get this Complete Project Chapter 1-5

THE EXTENT OF RELIANCE ON FINANCIAL ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION IN CORPORATE ORGANIZATION (CASE STUDY OF FIRST BANKS OF NIGERIA PLC )

CHAPTER ONE

1.0   INTRODUCTION

Accounting is the recording, classifying and interpreting financial data relating to a particular organization or person.  (Aspinall, 1990). Accounting has one or more of the following objects. The maintenance of a classified records d cash debtors and other property, of creditors and of changes in them. The maintenance of a record of transactions classified to show gains or losses resulting from the various activities. The periodic preparation of statements summarizing the economic results of the activities and the financial position. The use of such  statements, by the management of an Undertaking to assist them in the conduct f its business by the proprietors to assist them in assessing the efficiency of the management and in determing policy with regards to further Investment and the withdrawal  of profit, and by the government in determining tax liability. The owners of any business naturally wishes to run their business as efficiently as possible in order to be able to do this, accounting  information is  kept.  These accounting information enable the owner of the business to make Comparisons of the amount of each cost and each expense, it also services as a guide to business and financial decisions.

Accountants are responsible for preparing financial accounting information.  Some of these accountant exercise their profession as the  employees of Commercial Industrial and public practice of accountancy. The financial accounting Information prepared by accountants are of quantitative nature because it is usually expressed in monetary terms, through non monetary information are also often contained in accounting reports. The method and I or procedure for preparing financial accounting information are based upon definite principle which are usually rules and Conventions which have been adopted as a general guide to action by accountancy profession.
These principles are formulated in such away that he practical details of accounting may differ from one Company to another.  However, in order to secure acceptance such an accounting principle must be useful in copying with a practical recording problems, it must be reasonably objectives that is provides a similar answer in the hands of qualifies practitioners, and it must be feasible and as such not expensive to apply.  These accounting principles are known as generally accepted accounting principle (GAAP).
1.1       STATEMENT OF PROBLEM
Most corporate organizations may have sound accounting system which enable them not only in their decision making but also in monitoring operating expenses rules on the information content of the financial statement is quite uncertain because they may be managing the business Intuitively. Financial accounting information involves technicalities such as quantitative analysis, adequate recording reporting etc.  Some organisation may unknowingly employ Incompetent and unskilled manpower and as such the financial accounting information prepared may not show a true and fair view of the financial strength, profitability and future prospects of the organisation. Some organizations have to realise that accounting information is the only medium through which both the management and external users get a clear picture of an organization.  They fail to realized, appreciate an accountants analysis in respect of the accounting information generated, this often leads to poor management decisions which will have negative effects on the performance of organization.
1.2    OBJECTIVES OF THE STUDY
The Core objectives of the study is to examine the extent of reliance on financial accounting information for effective business and financial decision in corporate organization in Nigerian and in First Bank of  Nigeria to be precise. Moreso, the research intends to accomplish the following objective:
1.      To ascertain whether there is a direct relationship between the performance of first Bank of Nigerian and effective use of financial accounting information.
2.      To ascertain whether there is a direct relationship between financial accounting information and the decision make in the bank.
3.      To analyse the impact of and roles of financial accounting in First Bank of Nigeria Plc.
4.      To identify the factors which may constrain or promote the effective use of financial accounting information.
1.3    SIGNIFICANCE OF THE STUDY
Business organization exists to provide goods and services and in return provide rewards to its  Owners. These two needs are linked to each other in the sense that profitable organizations are those that normally receives more resources from their customers in exchange of  goods and services. Some business organizations are non-profit oriented.  However, Irrespective of the types of organisation therefore always have accounting information regarding the value  /normally in monetary terms, of the resources used in generating the required product and / or services used in generating the required product and / or services on the one hand and on the other, a fairly accurate measurement of income or profit or value of benefits earned from the disposal of their products and or services. The study provide insight into the nature and roles of financial accounting information, as well as management needs for accounting information which may be said to resolve around the purpose of planning and controlling the affairs of an organisation making policy decisions and making choices among a number alternative options under circumstance which may be unexpected. This work will serve as a guide to others who may intend to undertake a review of the work or other related topics in the future.
1.4    RESEARCH HYPOTHESIS
In view of the native and extent of the problem outlined for this study, it was considered appropriately to have a sound basis for a research for this nature. These are:
Hi:     Financial accounting information has contributed to effective decision making in first banks of Nigeria Plc.
Ho:    Financial accounting information has not contributed to effective decision making in the bank.
Hi:     The information content of annual financial Statement of the bank is effective.
Ho:    The information content of annual statement in the  bank is not effective.
1.5    SCOPE AND LIMITATIONS OF THE STUDY
This study was limited at various stage by several factors which include the following:
1.       The time conduct compile, produce and submit this work was not adequate due to compacted academic and non academic programme.
2.       Accounting information is very vast, it covers various branches of accounting such as public sector accounting financial accounting, management accounting etc. Consequently the study is limited.
3.       There were financial constraints however Judicious use of available resources was made in order to achieve the objective of the study.
1.6     DEFINITION OF TERMS

ACCOUNTING: The provision of relevant economic information to permit informed Judgment and decisions by users of the information.

ACCOUNTANT:  A person whose profession is to keep and examine business accounts.

ACCOUNTING ASSUMPTIONS / CONCEPTS:  These are general guide to action by the accountancy profession.

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP):  They are accounting principle that have been developed largely in accounting practice or have been established by an authoritative organisation.

LIABILITIES:  Debts owned by a company e.g trade creditors.

OWNER EQUITY;  That  shares of the business that owners own out – right.

FINANCIAL ACCOUNTING INFORMATION:  These are information obtained as a result of systematic gathering, identifying, summarizing and reporting business transaction in monetary terms.

Get the Complete Project

This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.

Click here to Get this Complete Project Chapter 1-5

You can also check other Research Project here:

1, Accounting Research Project

2. Adult Education
3. Agricultural Science
4. Banking & Finance
5. Biblical Theology & CRS
6. Biblical Theology and CRS
7. Biology Education
8. Business Administration
9. Computer Engineering Project
10. Computer Science 2
11. Criminology Research Project
12. Early Childhood Education
13. Economic Education
14. Education Research Project
15. Educational Administration and Planning Research Project
16. English
17. English Education
18. Entrepreneurship
19. Environmental Sciences Research Project
20. Guidance and Counselling Research Project
21. History Education
22. Human Kinetics and Health Education
23. Management
24. Maritime and Transportation
25. Marketing
26. Marketing Research Project 2
27. Mass Communication
28. Mathematics Education
29. Medical Biochemistry Project
30. Organizational Behaviour
31. Other Projects
32. Political Science
33. Psychology
34. Public Administration
35. Public Health Research Project
36. More Research Project
37. Transportation Management
38. Nursing

Need a Project Writer for a Different Topic

• MSC PROJECT WRITING SERVICES
• MBA RESEARCH PROJECT WRITING SERVICES
• Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
• Masters Research Project Writer in Lagos Nigeria
• MBA Research Project Writer in Lagos Nigeria
• LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
• PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
• BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
• MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Education Research Project Writer in Lagos Nigeria
• Environmental Sciences Research Project Writer in Lagos Nigeria
• Guidance and Counselling Research Project Writer in Lagos Nigeria
• Human Kinetics and Health Education Project Writer in Lagos Nigeria
• Early Childhood Education Research Project Writer in Lagos Nigeria
• Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
• Educational Administration and Planning Research Project Writer in Lagos Nigeria
• Political Science Research Project Writer in Lagos Nigeria
• Accounting Research Project Writer in Lagos Nigeria
• Economics Research Project Writer in Lagos Nigeria
• Management Research Project Writer in Lagos Nigeria
• Marketing Research Project Writer in Lagos Nigeria
• Public Administration Research Project Writer in Lagos Nigeria
• MBA Research Project Analysts
• In Need of MBA Research Project Writer in Nigeria
• MBA Dissertation Research Project Writer
• MBA Project writer
• EDUCATION DEPARTMENT PROJECT WRITING SERVICES
• BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
• MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
• MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
• POST GRADUATE RESEARCH PROJECT WRITER
• POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
• MASTER RESEARCH PROJECT WRITER
• MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
• POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
• MASTERS RESEARCH PROJECT WRITING SERVICES
• RESEARCH PROJECT WRITER
• EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
• HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
• SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Master Degree Research Project Specialist/Writer in Lagos, Nigeria
• Hire A Research Project Writer in Lagos Nigeria
• Research Project Specialist in Lagos, Nigeria

• Education