THE IMPACT OF A GOOD INTERNAL CONTROL SYSTEM ON FINANCIAL MANGEMENT OF ORGANIZATION
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THE IMPACT OF A GOOD INTERNAL CONTROL SYSTEM ON FINANCIAL MANGEMENT OF ORGANIZATION
ABSTRACT
An internal control system is the process that can be use to
provide reasonable assurance that the units goals and objectives will be
achieved. It is also the management of business risks and is a dynamic process
that changes as personnel and circumstance change. The impact of a good
internal control system on the financial management of organization can not be
over emphasized. This is because internal control is the had rock of any
organization that wants continuity in the existence of the organization. Owing
to the above reason, awareness on the need for internal control system in
organization become the vital inducing factor for this project work. However
aroused of students and potential readers interest on significance of internal
control system become the secondary objective of this work. This will go a lung
way in safeguarding and managing efficiently the finance or fund for running
the organization for profit maximization by management. Don’t for this research
work ;will be obtained through administrating questionnaire through oral
interview to senior staff which critical analysis follows. Regrettably however,
the quest for introduction will he hindered by time and money factors. Lecture
will be going on the class resource are scarce to travel enable the resource to
write extensively on the topic. In conclusion therefore researcher will suggest
that the impact of a good internal control system when applied. Will help a
business in profit planning decision making safeguarding of asset and for
costing.
CHAPTER ONE: INTRODUCTION
1.1 BACKGROUND OF
THE STUDY
Internal control can be defined as the whole system of
internal control, financial and otherwise established by management in order to
carry on the business of the enterprise in an orderly and efficient manner,
ensure adherence to management policies, safeguarded the assets and secure as
far as possible the completeness and the accuracy of records. Dr. Aveh (2010).
THE IMPACT OF A GOOD INTERNAL CONTROL SYSTEM ON FINANCIAL MANGEMENT OF ORGANIZATION
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An internal control system is the process that can be use to provide reasonable assurance that the units goals and objectives will be achieved. It is also the management of business risks and is a dynamic process that changes as personnel and circumstance change. The impact of a good internal control system on the financial management of organization can not be over emphasized. This is because internal control is the had rock of any organization that wants continuity in the existence of the organization. Owing to the above reason, awareness on the need for internal control system in organization become the vital inducing factor for this project work. However aroused of students and potential readers interest on significance of internal control system become the secondary objective of this work. This will go a lung way in safeguarding and managing efficiently the finance or fund for running the organization for profit maximization by management. Don’t for this research work ;will be obtained through administrating questionnaire through oral interview to senior staff which critical analysis follows. Regrettably however, the quest for introduction will he hindered by time and money factors. Lecture will be going on the class resource are scarce to travel enable the resource to write extensively on the topic. In conclusion therefore researcher will suggest that the impact of a good internal control system when applied. Will help a business in profit planning decision making safeg.. accounting project topics
THE IMPACT OF A GOOD INTERNAL CONTROL SYSTEM ON FINANCIAL MANGEMENT OF ORGANIZATION