ABSTRACT
This project work attempts to analyze the weakness and
highlight the attendant implications on the financial statements of a local
government in Nigeria. It cannot be overemphasized that the local governments
in Nigeria have been facing the problem ofpresenting a financial statement that
could succinctly reflect their true financial position. Thus the need to ensure
proper public accountability especially at the local government level gave
birth to this research work. The aim or objective of this work is to highlight
the problems and prospects of local government accounting system in Nigeria
using Bende local government in Abia state as a sampled local government..
Primary source of data and questionnaire was used as an instrument for data
collection and also survey research design was adopted for this study. 85
numbers of workers were randomly sampled and stratfIed among members of staff
in the local government out of 108 population sample. 4 research questions and
2 hypotheses tested at 5% level of significance guided the study. Analysis of
variance (ANOVA) statistics was used to test the hypotheses. The researcher was
able to find the following: that lack of planning and commitments affects the
accounting system of the local government area; that local government areas are
not exploiting all the local government revenue resources very well. That
inadequate competent staff affects the management of finance despite appraisal
made by accounting system of a local government. The researcher therefore
recommends that the necessary incentives required by staff should be given to
them in other to encourage and motivate them to put up their best in the
service; independent accounting, auditing and supervisory bodies should be
employed for the local government finance. More sources of revenue generation
should be exploited. The researcher concludes that the lapses in the accounting
system of a local government could be traced to their inability to employ
professional accountant which then results to improper planning.
EGBUGHA, C (2021). Problems And Prospects Of Local Government Accounting System (A Study Of Bende Local Government Council In Abia State) A Project Submitted To The Department Of Accounting. Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/problems-and-prospects-of-local-government-accounting-system-a-study-of-bende-local-government-council-in-abia-state-a-project-submitted-to-the-department-of-accounting-7-2
CHIAMAKA, EGBUGHA. "Problems And Prospects Of Local Government Accounting System (A Study Of Bende Local Government Council In Abia State) A Project Submitted To The Department Of Accounting" Mouau.afribary.org. Mouau.afribary.org, 18 Nov. 2021, https://repository.mouau.edu.ng/work/view/problems-and-prospects-of-local-government-accounting-system-a-study-of-bende-local-government-council-in-abia-state-a-project-submitted-to-the-department-of-accounting-7-2. Accessed 01 Nov. 2024.
CHIAMAKA, EGBUGHA. "Problems And Prospects Of Local Government Accounting System (A Study Of Bende Local Government Council In Abia State) A Project Submitted To The Department Of Accounting". Mouau.afribary.org, Mouau.afribary.org, 18 Nov. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/problems-and-prospects-of-local-government-accounting-system-a-study-of-bende-local-government-council-in-abia-state-a-project-submitted-to-the-department-of-accounting-7-2 >.
CHIAMAKA, EGBUGHA. "Problems And Prospects Of Local Government Accounting System (A Study Of Bende Local Government Council In Abia State) A Project Submitted To The Department Of Accounting" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/problems-and-prospects-of-local-government-accounting-system-a-study-of-bende-local-government-council-in-abia-state-a-project-submitted-to-the-department-of-accounting-7-2