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ABSTRACT

In recent times, private and public organizations, in Nigeria have been faced with cases of financial crisis, which have resulted in most of the organization going into extension. Those who are able to survive more are in gunil pace. Obviously, the causes of financial crisis in our private and public sector have been attributed to be unrecognized in nature and total negligence of the role accounting in our private and public organizations. This research work will look the role of accounting in the central of private and public sectors in Nigeria. It will try to analyzes the implication of applying the accounting  principles in our private and public organizations and then look at how these principles confirmed the operation of the private and public sectors of the organization in Nigeria.

TABLE OF CONTENT

Title page-      –      —    –      –      –      –      –      –      i

Approval page-       –      –      –      –      –      –      –      –      ii

Certification-   –      –      –      –      –      –      –      –      iii

Dedication-     –      –      –      –      –      –      –      –      iv

Acknowledgement- –      –      –      –      –      –      –      v

Abstract- –      –      –      –      –      –      –      –      –      vi

Table of content-    –      –      –      –      –      –      –      vii

CHAPTER
ONE

1. 1.1      Introduction-  –      –      –      –      –      –      1    

1.2  Short Background history of the case study-    7

1.3  Statement of the problem- –      –      –      –      11

1.4  Research Objective and purpose-      –      –      –      12

1.5  Significance of the study –  –      –      –      –      12

1.6  Research questions –  –      –      –            –      14

1.7  Statement of Hypothesis-  –      –      –      –      15

1.8
Scope and Limitation of the study-     –      –      16

1.9  Definition of terms-    –      –      –      –      –      16

CHAPTER
TWO

• Literature Review-  –      –      –      –      –      –      18
  • Historical development of account in
    Nigeria-       –      25
  • The nature of accounting principles-     –      –      28
  • Types of accounting principles–    –      –      –      31
  • Factors affecting accounting principles- –      –      36
  • The role of accounting in the control of
    public sector-38    
    • Problems of accounting in the control of
      public sector in Nigeria-    –   –      –      –      –      –      –      41
    • How accounting is used to control public
      sector in Nigeria economy-   –      –      –      –      –      –      43
  • The role of accounting in the control of
    public sector44
    • How accounting been used in the control

of
private sector-    –      –      –      –      –      45

• The role that accounting played in the
  control of private sector-     –   –      –      –      –      –      48

CHAPTER
THREE

• Research methodology and design-      –      –      –      50
  • Introduction-  –      –      –      –      –      –      –      50
  • Research methodology – –            —           –      50
  • Research design-    –      –      –      –      –      –      51
  • Population sampling  –   –     —    –      –      –      52
  • Reliability of data-  –      –      –      –      –      –      52
  • Sampling technique-      –      –      –      –      –      53
  • Development –       –      –      –      –      –      –      –      54
  • Observation-   –      –      –      –      –      –      –      55  
  • Data analysis- –      –      –      –      –      –      –      56
  • Data
    collection-      –      –      –      –      –      –      56

CHAPTER
FOUR

4.0  Data presentation and analysis–    –      –      –      58

4.1  Introduction-  –      –      –      –      –      –      –      58

4.2  Data presentation and analysis –   –      –      –      59

4.3  Test techniques-     –      –      –      –      –      –      72

4.4  Decision rule-  –      –      –      –      –      –      –      72

4.5  Testing the hypothesis– –      –      –      –      –      73

4.6  General comment-  –      –      –      –      –      –      80

CHAPTER
FIVE

5.0  FINDINGS RECOMMENDATION AND CONCLUSION- 82

• Summary of findings –  –      –      –      –      –      82
  • Recommendations on finding –    –      –      –      85  
  • Recommendations  for further studies-      –      –      87
  • Conclusion –  –      –      –      –      –      –      –      88
  • Further suggestion to the studies work-     –      91

Bibliography
– –      —    –      –      –      –      –      92

Appendix-       –      –      —    –      –      –      –      –      94

CHAPTER ONE

1.1  INTRODUCTION

In most developing countries Nigeria, government
participation in economic activity is usually significant. One of the way
through which the Nigeria economy grows is through the establishment of public
enterprises. Public enterprises are statutory bodies operating services of an
economic or social character or both on behalf of the colonial  era. Especially after independence in 1960,
Nigeria public enterprises have witnessed a steady growth until recently. As “o
lies (1988.133) puts it.” Beginning as a twinkle in the period between the era
of the second world war and Nigeria attainment of independence, and the
creation of public co-operation has risen to flood revel since independence and
has maintained a steady growth.

The rationales behind the establishment of public
enterprises in Nigeria are many. Some to the reason include: generating revenue
that would add to available national capital for the support of development on
welfare programmes, making it impossible for important profitable enterprise to
be controlled by a few individuals or group, organizing certain critical
activities for national survival and economic stability and providing
employment opportunities (Ademotecum 1983)

       However after a long period of growing
starts intervention in the Nigeria economy through public enterprises, the mid
1980’s. onward has sometimes and put policy. This has been brought by the
persistent has been running over the years. Consequently, there has been a
willingness to look at the alternative policy strategies for the achievement of
economic developments. As the fore front of the sea

Strategies in the minimization of the state in the
economic including privation of public enterprises.

In Nigeria public enterprises are engaged in a whole spectrum of economic activities including agriculture mining, constriction, manufacturing, commerce and other services. The classifications of public enterprises in Nigeria have been made according to a variety of criteria and by different authority. The public service review commission (1975:101) classified.

   Public
sector into:

1. public utilities
2. Regulatory or service body
3. Financial
   institution
4. Commercial and industrial enterprises being a mixed
   economy, individuals also own and operate enterprises. A firm is classified a
   private enterprises when it is founded and managed by an individual and or a
   group of individuals. The firms are operated within the local government.

The rational for the establishment of private enterprise are numerous just like the establishment of public enterprise. They include among others, provision of employment opportunities, generating in come for the owners of the enterprises government is also interested in profit performance of the enterprises which determines the fax liability of the firm moreover the generate public are concerned with the sense of social responsibility which the business exhibits to the environment in which it is located and its within ness to contribute to the upliftment of the environment.

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