TABLE OF
CONTENT
TITLE PAGE
II
APPROVAL PAGE III
DEDICATION
IV
ACKNOWLEDGEMENT V
LIST OF TABLES VI
TABLE OF CONTENTS
VII
ABSTRACT
IX
CHAPTER ONE
1.1
BACKGROUND OF THE STUDY 1
1.2
STATEMENT OF THE PROBLEM 4
1.3
PURPOSE OF THE STUDY 5
1.4
RESEARCH QUESTIONS 6
1.5
HYPOTHESIS
7
1.6
SCOPE OF THE STUDY 8
1.7
SIGNIFICANCE OF STUDY` 8
CHAPTER TWO
2.1
PRELUDE
10
2.2
NATURE OF GOVERNMENT ACCOUNTING
12
2.3
THE ROLE OF F.P.O. IN THE
ACCOUNTING SYSTEM 13
CHAPTER THREE
3.1
DISCUSSION OF RESULT/FINDINGS
17
3.2
RECOMMENDATION 22
3.3
IMPLICATION OF THE RESEARCH FINDINGS23
3.4
SUGGESTION FOR FURTHER RESEARCH
24
ABSTRACT
The need for keeping prompt and accurate
record of transaction in the government services of the receipt and
disbursement of public fund cannot be over-emphasized. This is why the officers
of the Accountant –General of the federation in whose hands this duty falls,
has over the years been engaged in the determination of procedure to achieve an
optimum effectiveness of these recordings.
The management of public fund regimes an
appropriate and comprehensive accounting system. This has necessitated the
formulation of a number of control measure to ensure accountability and probity
right from the budget proposal level to the actual implementation.
As government spending grows, there is the
need to do more than our tailing spending within appropriate amount as it is
entirely possible to expend money without reaping the reward for such
scientific. Thus, the need to evaluate the benefits and manage the costs become
more essential. This is the enrolment of accounting, and its efficiency and
effectiveness manifests the impact on the governed.
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF STUDY
The management and control of the public fund
is the heart of government administration. This calls for the need for an
acceptable accounting system that will comprehensively prefer solution to the
accounting needs of the government on public funds is governed by the financial
(control and management). Act of 1958 A to E into section 154, dealing with the operation of the consideration
Amendment of 1957 which inserted sub –154 A to E into section 154, dealing
operation of the constrained therein formed the based of the financial Act
which were replicated with slight changes in the 1979 and 1989 constitution,
Higher to , government accounting is regulated by section 129 –145 of the
constitution, the laws enacted by government in power, the financial control
and management Act 1958, by decree and acts enacted from time to time.
The management and control of the public fund
is invested on the federal ministry of finance and this rests on the shoulders
of the Treasury now referred to as the office of the Accountant General.
In the treasury its self, functions and
duties are streamlined to a set of guide. This is because government accounting
is based strictly on cash”.
The expenditure and receipts for the year are
balanced and closed for the year and there is no transfer to the next period.
The financial regulation, treasury accounting
manual, and regulation. That guide the treasury in the management and control of the public find
of the government whose objective is service.
This study is directed to a division of the
treasury the federal pay office, Enugu. It will be concerned mainly with the
duties and functions of the office, the effectiveness of the accounting as it
relates to the goals of the
Government which is service. The study will
also determines to what extent the principles, rules and regulation governing.
The government accounting system is being utilized and its effect on the
general public.
The federal pay office, Enugu which is the
main focus of this work has the following as its main general duties:
i.
receiving and payment of cash.
ii.
Keeping of cash book to record all the cash transaction.
iii.
Operation of a bank account on which cheques are drawn.
iv.
Providing information on the cash position at a given date.
Effectiveness of these duties are enhanced
through the establishment of internal check system in its operation to minimize
fraud and loss of funds.
The federal pay officer is the head of this
office. Going by the provision of financial regulation (ff) section 104 (II),
the officer “ is entrusted with the receipts, custody and disbursement of
public money and is required to keep one of the recognized cash books, the
transaction in which are subsequence embodies in the accounts rendered by the
accountant – general of the federation”.