THE ACCOUNTING SYSTEMS IN LOCAL GOVERNMENT.
ABSTRACT
Different organizations or firms use various accounting systems to speculate and analyze their financial situation.
However, an organization’s accounting system will be determined by the type of transaction/business or activities in which it is involved in Nigeria my country. The issue of implementing a specific accounting system, particularly among the various local governments in the states,
has always been considered in order to ensure good control and efficient management of government operations. To a reasonable and significant extent. This has been accomplished, but there has been some setback due to the complex system of our local government accounting.
Against this backdrop, this project aims to highlight the methods and systems used to account for local governments’ revenues and expenditures.
Obingwa Local Government Area’s accounting system will be used as a reference point to unravel these problems and their solutions. In addition, the nature and purpose of L.G.A accounting and financial control will be identified in this project.
The first chapter of this work is intended to demonstrate the introduction of the case study with the various reforms to its scope of operation. It also refers to the problems that the local government accounting system in Nigeria is facing.
Chapter two of this research work attempts to explore in detail the related literature on the topic, as well as a review of the local government accounting system in Obingwa L.G.A. Is also the L.G. A method of accounting for capital expenditures, recurring expenses, and inventory.
The third chapter will look at the research design, the sample and data collection instrument, and the method of analysis. These items are also crucial because the validity of the study is dependent on the researcher’s ability to reach those directly affected by the research problem.
The fourth chapter is intended to analyze the responses of Obingwa L.G.A workers at various levels.
Chapter five of this research work will tend to summarize, draw a conclusion, and make recommendations that will adequately make an effective impact in the maintenance of a local government accounting system devoid of any immaterial facts, in order to maintain a true financial position at all times.
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THE ACCOUNTING SYSTEMS IN LOCAL GOVERNMENT.
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