PROPER ACCOUNTING AND BUDGET IMPLEMENTATION IN NIGERIA WITH PARTICULAR REFERENCE TO ENUGU STATE

ABSTRACT: As regards the rapid increase in the socio economic problems of this nation, the wastage of millions of naira at project sites and the collapse of our economic sectors especially the financial houses, the writer decided to survey the avenues in which these wasted funds could be curtailed and our economic problems ameliorated. Based on these assumption most of these problems arose as a result of poor budgetary and economic policy implementation. On this note, the writer introduced the study in chapter one of this project with a clear statement of problems inherent in poor budgetary plans and implementation. In chapter two which is on review of related literature, there was effort made in definition of budget. All definitions have one thing in common that budget is an estimate and refers to future. Chapter three states the design and methodology which include the sources of data, interview questions samples used and method of investigation. Chapter four is the data analysis collected, the questions and questionnaire are analysed with number, percentage and degree of respondents affirmed to a particular answer. The chapter five and last chapter contains findings, conclusion and recommendations. In conclusion, it is hoped that our planners and policy implementers should learn a lot from the write up and change the phase of our economy in Enugu state to a right and benefiting system.

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION                                                         1

BACKGROUND OF THE STUDY          2

STATEMENT OF PROBLEMS               4

OBJECTIVES OF THE STUDY              10

SIGNIFICANCE OF THE STUDY          11

HYPOTHESIS                                          13

SCOPE AND LIMITATION OF THE STUDY  14

DEFINITION OF TERMS                        16

CHAPTER TWO    

REVIEW OF RELATED LITERATURE           21

MEANING OF GOVERNMENT BUDGET21

OBJECTIVE OF BUDGET                      33

CONTENTS OF BUDGET DOCUMENT        35

BUDGETARY PROCEDURES               37

REPETITIVE BUDGETING                     47

EFFECTS OF INFLATION ON BUDGET       51

CHAPTER THREE     

RESEARCH DESIGN AND METHODOLOGY

SOURCES OF DATA                              53

INTERVIEW QUESTIONS                      55

SAMPLE USED                                        57

METHODS OF INVESTIGATION           59

CHAPTER FOUR

PRESENTATION ANALYSIS AND INTERPRETATION OF DATA

TESTING OF HYPOTHESIS                            62

CHAPTER FIVE

FINDINGS

CONCLUSIONS                                       90

RECOMMENDATIONS                           92

BIBLIOGRAPHY                                                          96

QUESTIONNAIRE                                             98

CHAPTER ONE

INTRODUCTION

Proper accounting: The word proper means strict decorous of decent. It could be actual in conformity to the expected rule. Then accounting entails responsibility, answerable for or held in charge. Therefore merging these two words proper accounting we can coin them to be decorous or decent responsibility.

In this case, the question may be is there any proper accountability in our private and public sectors from the very beginning of our independence till this very moment. These few words proper accounting have been very vital in the restructuring of any economic system of any nation. The cause of every coup detats in Nigeria and the world at large is nothing but mainly for the sales of proper accountability. General Buhari and general idiagbon aggressive came into power for the quest of proper accountability. And general Abacha crowned the whole thing up by his wide speed of improper accountability.

The doom in our banking sector and other financial institutions are matters of attention. Is it the failed contracts, failed parastatals and even the external and internal crisis in our business sectors? All these and many other embezzlement problems that rake the counting have made the writer to probe into some of the matters and look for possible solutions.