Accounting As An Aid To Internal Control System

ABSTRACT

This research project is on accounting as an aid to internal control system.

The problem study of this research is to find out whether Enugu State Government Accounting records are properly kept according to the provision of the state financial instruction as it concerns the state government. Again to know if there is any loophole in the accounting records as it concerns their internal control.

Any organization wishing to conduct its business in any orderly and efficient manner and to produce a reliable financial accounting information both for himself or others use, needs some control to minimize the effect of endemic human facings. And such control is known as internal control.

Internal control can therefore be define as a system of control, financial and otherwise established by the management of an enterprises in order to carry out the business of such enterprise in an ordinary and efficient manner, to ensure as far as possible the completeness and accuracy of records.

Finally the researcher is faced with problems of summary of all the findings, recommendation based on findings. From this findings accounting has been proved to be the best aid to internal control system. All this endemic human failings such as fraud, missing of files, misappropriation of funds, loop holes, distraction and so on and so forth will minimize where accounting as internal control is followed.

The main objective of this research is to ascertain if the internal control is effective and to analyze ethically the soundness, adequate and application of various internal controls on accounting records. This will also educate the government staff, of various duties expected from them. And also determine the degree of reliance, completeness and accuracy of the accounting records as is contained in the accounting records.

TABLE OF CONTENTS

Title page II

Approval page III

Dedication IV

Acknowledgement V

Abstract VII

Table of contents IX

CHAPTER ONE: INTRODUCTION

1.1 General overview 1

1.2 Statement of problem 3

1.3 Objective of study 4

1.4 Significance of the study 5

1.5 Scope and limitation 6

1.6 Definition of terms 7

References 9

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 General approach to internal control system 12

2.2 Local related and foreign related literature 13

2.3 Objective of internal control system 17

2.4 Principle and characteristic of internal control 19

2.5 Types of control of internal control system 21

2.6 Internal control and management 24

CHAPTER THREE: SUMMARY, RECOMMENDATION AND CONCLUSION

3.1 Summary 26

3.2 Recommendation 27

3.3 Conclusion 30

Bibliography 32

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"Accounting As An Aid To Internal Control System.." ProjectStoc.com. 11, 2014. Accessed 11, 2014. https://projectstoc.com/read/4510/accounting-as-an-aid-to-internal-control-system-2873.

Accounting As An Aid To Internal Control System

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