ABSTRACT

Any institute whether private or public must keep records to show that records are available and reports to show how effective the resources are being used. The aim of this research work is to analyse and appreciate the need for improving the accounting system in Nigerian universities, to find out the type of accounting system adopted by universities and the reason for adopting such system, to identi1,' the benefits and demerits of the system adopted by the university under study, to ascertain the problems affecting the adoption of such accounting system and to recommend ways of improving the accounting system adopted in the university system in carrying out this research, primary and secondary data were collected through the use of vand and reliable questio1naires The data collected from Bursary department were analysed with the view of testing the working hypothesis. Simple percentages of cu -square were used to analyse the data. After the analysis of data, the researcher made the following findings:-Accounting system existing in Nigerian universities aEe not defined and lormalised, books of accounts are not kept effectively, bursars of the Nigerian universities do not pay proper attention to some units of their department, and management influence on accounting officers to a large extent affects their performance, there is 110 proper budget implementation and control procedure. With reference to the above findings the researcher made the following recommendations; Items of income and expenditure should be properly classified and coded, the books of accounts must be properly kept and updated from time to time, there should be regular summary of accounts by way of preparing monthly, quarterly, or half yearly trial balance, income statement, balance sheet or statement of assets and liabilities, there should be a proper way of collecting data concerning all the transactions in the university and there should be an assets register which must be kept and updated to reflect addition, disposals and depreciations.