ABSTRACT
The oil industry in Nigeria has grown tremendously
since its discovery and major source of revenue and foreign exchange earning
for the country. The study mainly to examined and identified the role of
accounting system and reporting practice in the oil industry. The objectives of
the study identified the accounting system used in the industry. Determined
computerized system advantage over manual system, determined the efficiency
effect of the accounting system adopted by the industry; ascertained the
opinion of respondents in respect to experience staff and efficient accounting
application, determined the efficient role of accounting system in the industry
and also determined efficiency of accounting system in minimizing fraud. Also,
the study stated some literature review which covers the accounting system and
methods and also the rote of accounting system in the oil industry. It also
dealt with some references from the accounting standard, for petroleum, SAS 14
Primary and secondary data were collected and 80 questionnaire where
distributed to 40 senior and 40 junior and where collected. The three
hypothesis in the opinion of respondents with respect to experience of
accounting staff and efficient accounting system application. Also it indicated
that efficient accounting system and reporting practice do play a significant
role in the oil and gas industry. Observation that effective and efficient
computerization accounting system does pay a major role in enhancing the
development of the oil and gas industry. These result was gotten after applying
the decision rule of accepting null hypothesis if tabular is greater than
i-calculated. Accepting alternative if t-tabular is lesser than t-calculated.
Recommendation therefore includes effective and efficient application of
accounting system to control fraud and the training of employed staff/workers
in accounting practice.
ANALAEA, C (2021). Role Of Accounting System And Reporting Practice In The Oil And Gas Industry (A Study Of Mobile Producing Nigeria Unlimited). Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/role-of-accounting-system-and-reporting-practice-in-the-oil-and-gas-industry-a-study-of-mobile-producing-nigeria-unlimited-7-2
CHRISTIAN., ANALAEA. "Role Of Accounting System And Reporting Practice In The Oil And Gas Industry (A Study Of Mobile Producing Nigeria Unlimited)" Mouau.afribary.org. Mouau.afribary.org, 08 Jul. 2021, https://repository.mouau.edu.ng/work/view/role-of-accounting-system-and-reporting-practice-in-the-oil-and-gas-industry-a-study-of-mobile-producing-nigeria-unlimited-7-2. Accessed 01 Nov. 2024.
CHRISTIAN., ANALAEA. "Role Of Accounting System And Reporting Practice In The Oil And Gas Industry (A Study Of Mobile Producing Nigeria Unlimited)". Mouau.afribary.org, Mouau.afribary.org, 08 Jul. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/role-of-accounting-system-and-reporting-practice-in-the-oil-and-gas-industry-a-study-of-mobile-producing-nigeria-unlimited-7-2 >.
CHRISTIAN., ANALAEA. "Role Of Accounting System And Reporting Practice In The Oil And Gas Industry (A Study Of Mobile Producing Nigeria Unlimited)" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/role-of-accounting-system-and-reporting-practice-in-the-oil-and-gas-industry-a-study-of-mobile-producing-nigeria-unlimited-7-2