ABSTRACT
The research work seeks to examine the problem
associated with social accounting in Nigeria, particular reference to its
measurement and reporting procedures. This study uses the Nigeria National
Petroleum Corporation as a model. To begin with, current literature on the
concepts of social accounting were reviewed. This is then followed with an
examination of data collected through a structured questionnaire administered
to the staff in the accounting department of the corporation and supplemented
with a personal interview conducted with members in the department. However, it
revealed to the researcher that most of the measurements done are made through
the direct cash outlay and that no reporting of its social performance were
made in the annual report which is not published for public examination. The
reasons given for their mobility to report its social performance was that it
is not compelled by law and again no reporting standard is yet to be specified.
The study also revealed that the social services rendered by the corporation
are placed in a hierarchy, though they may be placed in an hierarchy. The
researcher is of the opinion that their performance may not be followed in the
order, but it worked simultaneous. It also revealed that the extent of social
services rendered depend on the one beneficiaries. However, in order to remedy
the problem encountered in social accounting, the following recommendations are
made: (1) The Corporation should give a report of its social services in
compliance with the requirement of SAS 14 as regard accounting in the petroleum
industry i.e. Upstream activities and downstream activities. (2) The
corporation should maintain an accident free environment for its workers. (3)
The corporation should give proper measurement of its social services rendered,
(4) It should review its manner of rendering social services. (5) A law should
be enacted in the country enforcing a company to state the cause of the
pollution for which compensation is paid.
MICHAEL, U (2024). Appraisal Of Social Responsibility Accounting In Oil Companies In Nigeria (A Case Study Of NNPC Port Harcourt):- Onyike, Ifeanyi C. Mouau.afribary.org: Retrieved Oct 30, 2024, from https://repository.mouau.edu.ng/work/view/appraisal-of-social-responsibility-accounting-in-oil-companies-in-nigeria-a-case-study-of-nnpc-port-harcourt-onyike-ifeanyi-c-7-2
UNIVERSITY, MICHAEL. "Appraisal Of Social Responsibility Accounting In Oil Companies In Nigeria (A Case Study Of NNPC Port Harcourt):- Onyike, Ifeanyi C" Mouau.afribary.org. Mouau.afribary.org, 12 Aug. 2024, https://repository.mouau.edu.ng/work/view/appraisal-of-social-responsibility-accounting-in-oil-companies-in-nigeria-a-case-study-of-nnpc-port-harcourt-onyike-ifeanyi-c-7-2. Accessed 30 Oct. 2024.
UNIVERSITY, MICHAEL. "Appraisal Of Social Responsibility Accounting In Oil Companies In Nigeria (A Case Study Of NNPC Port Harcourt):- Onyike, Ifeanyi C". Mouau.afribary.org, Mouau.afribary.org, 12 Aug. 2024. Web. 30 Oct. 2024. < https://repository.mouau.edu.ng/work/view/appraisal-of-social-responsibility-accounting-in-oil-companies-in-nigeria-a-case-study-of-nnpc-port-harcourt-onyike-ifeanyi-c-7-2 >.
UNIVERSITY, MICHAEL. "Appraisal Of Social Responsibility Accounting In Oil Companies In Nigeria (A Case Study Of NNPC Port Harcourt):- Onyike, Ifeanyi C" Mouau.afribary.org (2024). Accessed 30 Oct. 2024. https://repository.mouau.edu.ng/work/view/appraisal-of-social-responsibility-accounting-in-oil-companies-in-nigeria-a-case-study-of-nnpc-port-harcourt-onyike-ifeanyi-c-7-2