Accounting Procedure in Post Primary Institutions (a Case Study of Udenu LGA)

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Accounting Procedure In Post Primary Institutions (A

Case Study Of Udenu LGA)

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TABLE OF COTET

Title Page

Approval

Dedication

Acknowledgement

Abstract

Table of content

C!APTE" OE

IT"O#UCTIO

1.1 Background of the study

1.2 tatement of the problem

1.! "b#ective of the study

1.$ %esearch &uestions

1.' %esearch (ypothesis

1.) ignificance of the study

1.* cope and +imitations of the study

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1., Definition of Terms

C!APTE" T$O

2.1 +iterature %eview

2.2 Development of Accounting in post primary institution

2.! ource of funds in post primary institution

2.$ Techni-ue involved in collecting the fundsdepositing

2.' /anagement 0ompliance to the collection of the funds

2.) Accounting for %evenue in tutorial system

2.* Proper and efficient Documentation of all monies collected.

C!APTE" T!"EE

"ESEA"C! %ET!O#OLOG&

!.1 %esearch Design

!.2 Area of the study

!.! Population of the study

!.$ ampling procedures

!.' nstruments for Data 0ollection

!.) alidity f the instruments

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!.* %eliability of the instrument

!., /ethods of Administration f the nstruments

!.3 /ethods of Data analysis

C!APTE" FOU"

#ATA P"ESETATIO

$.1 Testing of hypothesis

$.2 Analysis and interpretation

C!PTE" FI'E

'.1 Discussion implementation and %ecommendation

'.2 Discussion of %esult

'.! %ecommendation

'.$ 0onclusion

Bibliography%eferences

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C!APTE" OE

* IT"O#UCTIO

+ BAC,G"OU# OF T!E STU#&

Accounting procedure in post primary nstitutions of 4nugu tate forms

one of the functions of 4nugu tate post Primary management Board

established in 13*2. Post primary institutions operate under the post primary

school management board 5P.P./B6 in si7 educational 8onal levels each

headed by a chief supervising principal 50P6. The head-uarter is situated

along Abakiliki %oad 4nugu9 near the old government ledge and is headed by a

chairman with other supporting five Board members representing each of the

:ones. The Board has a permanent secretary as the administrative head of

service ad a director charge of finance and supplies. All the polices used for

administration of post;primary institutions are formulated and are adopted at

the head-uarters while the state ministry of 4ducation overseas all bout

4ducational matters in the state9 including primary school which has 5tate

Primary 4ducation Board6 private Approved vocationalcommercial secondary

schools9 and private primary and nursery schools.

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(owever9 this study centres on post;primary institutions in kam9 >sukkam "bolo Afor9 and udi 8ones9 in

each 8one are located an internal Audit and fianc? and supplies unit headed by

8onal Auditor and 8onal bursar respectively. 4ach of the si7 8onal office has an

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administrate head called the chief supervisor principal 50..P6 as stated earlier9

the state post primary schools management Board is headed by a chairman9

who is the chief Accounting officer and a permanent secretary as the

administrative head of services. The chairman is assisted by five other board

members9 all of them representing each 8one including the director of finance

and supplies in charge of revenue generation and accounting to the board.

n post primary institutions as contained in the hand book on schools

administration9 section *9 the principals of schools are the revenue collector9

but the bursars do the practical work of collecting revenue and disbursement as

directed and approved by the principals and e7cept schools where there is no

bursar9 the principal does the revenue collections himself. @hile these duties

are performed9 there are some problem prevalent the system which include.

5a6 Problems from organi8ations ; management

5b6 Problems form organi8ations ; Personnel

5c6 Problems form Bursars9 ; Personnel.

5d6 Problems from Bursars ; Personnel

They problems are e7amined in this study with a view to finding

suggestive solutions to eradicate them and enhance revenue collections.

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- STATE%ET OF T!E P"OBLE%S

The study is designed to evaluate and assess the accounting procedure in

post primary institution notability in


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numbers of receipt booklets9 make returns of used and unused ones before

collection of new stocks of the cash revenue receipts.

There is also in place the central pay rolling system9 and most recently9

they have introduced computer system aimed at computeri8ing the entire

system of the boards accounting9 administration ad management.

(owever9 there are still problems in schools accounting systems.

There are reported cases of fraud9 forgery of purchases invoices and

other records like bank tellers manipulation of tuition4-uipment and other

fees9 issued receipts for government and its organs shares of fees payment

made (owever9 there are observable limitations on the effectiveness of the

internal control measures.

Thirdly9 there are problems of poor non;rendition of revenue. A circular

5%ef 4>40D3C$$!C of 1$the duration commission9 head-uarters

to all principals9 all 8onal Bursars9 all 8onal internal auditors9 (ead of pay9 all

section on the effect of low revenue %eturns stated they9 Ethe post primary

schools management board 4nugu is seriously disturbed by the low revenue

returns form post primary schools in the state.

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pot checks in schools by the internal audit disclose that low revenue

returns are caused by the following

1. The failure of principals to send debtor students home after the

authori8ed two weeks period f grace after each resumption date.

2. The failure of the principals to enforce the lodgment of all revenue

collected on behalf of the government into appropriate government

designated bank accounts.

!. The collection of monthly salaries by principals and bursary with out

obtaining usual clearance form the 8onal international auditors having

met the met the stipulated monthly revenue targets.

$. 0onse-uently9 all the head of salary pay point are directed to black

list form monthly payment of staff salaries9 any school whose

principal and bursar failed to submit usual clearance certificate form

the 8onal internal auditors and the revenue officer.

'. There are some elements of non;compliance with e7isting financial

guidelines. n a circular 5%eF PP/B>GA


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board >sukka 8one9 to all principalsBursars the 8onal internal

Auditors stated interracial. E our e7perience form schools already

visited for audit e7ercise showed that some schools do not keep

records and custody of there book of account. n view of these lapses

in schools9 henceforth9 schools are e7pected to keep the under listed

booksdocuments9 and where they already e7ist should be properly

safeguarded. Principals and bursars should not treat the books of

account or documents that do not belong to their period with

indifference. Principals and bursars therefore must be ready to

present both the administrativefinancial records to our audit terms

for inspection even when there are not for routine audit of schools.

0ontinuing9 the circular emanated the records as followsF

1. 0lass registers.

2. %eceipt book issued Hnote.

!. Bank statements.

$. 0ash book

'. Daily collection registers

). 0ash analysis

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*. 47penditure files

,. (and over note file

3. P.T.A. minute book

1C. Bank passbook

11. %eport books.

The circular observed that it may not be possible to e7change the

individuals problems of the principals and bursary with regards to the keeping

of good accounting and other records.

"n revenue returns9 the circular stated intereliaF with effect from 1 stterm

13319 bursar in >sukka 8one are re-uired to observe the under listed procedure

with respect revenue returns to internal audit unit9 post primary school

management board >sukka 8one.

5a6 The revenue returns on tweeting and e-uipment fees 5=overnment

shares6 must be rendered to the internal audit unit9 >sukka 8one on

monthly basis.

5b6 At the end of the verification e7ercise9 clearance papers dually signed

by the 8onal internal Auditor9 >sukka 8one9 are issued to the schools

whose returns are in order with these clearance papers the

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principalsbursars will submit their salary vouchers to the 8onal

bursar for the subse-uent months and as it is now will use the

clearance paper to collect their schools salary payment vouchers and

staff pay slips.

. OB/ECTI'E OF T!E STU#&

5a6 This is aimed at evaluating the accounting procedure9 in post primary

institutions in


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0 ASS&OTUIBS% "ESEA"C! 1UESTIOS A# !&POT!ESIS

5a6 Do you keep proper books of accountsI

5b6 (ow often does the audit team visit your schools for spot checks

5c6 Do you think the accounting system in your school work effectivelyI

5d6 Do you lodge into the bank all money collected with in $, hours of

such collectionsI

5e6 Do you think management set aside internal control systemI

2 !&POT!ESIS FO"%ULATIO

(oF There is a significant problem in the accounting procedure in post;

primary institutions and the accounting systems are not effectively

supervised.

(1F There is no significant problem in the accounting procedure on post

primary institutions and the accounting systems operate effectively.

3 SIGIFICACE OF T!E STU#&

The study will be interest to the general public9 policy makers

professionals and other educationist. t will identify the accounting lapses

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associated with post primary institutions and propose suggestive measures and

proper accounting records and standard.

4 SCOPE A# LI%ITATIOS

This work reviews the accounting system9 procedure and methods as is being

operated in post primary institutions with in >sukka 4ducational 8one of

4nugu tate.

This is with a view to determining the problems collecting the relevant

data9 summari8ing9 analy8ing and hence make recommendations.

n compiling a pro#ect or a hand book on any topic9 it has never been

possible to include all the information that might be available. This pro#ect on

accounting system could not possibly be an e7ception. >evertheless9 and

attempt has been made to include all available but preferment in formation

considered to be of good importance. And assignment e7ecuted under three

months cannot be and to have received if e7ecuted under twelve calendar

months. n this regard9 we can easily identify Htime constraint as a limiting

factor. (owever9 this should not suggest that a good Job is not done9 many

administrative problems are encountered in carrying out research assignment

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fre-uently9 co;operation must be sough9 obtained and maintained form

individual employees and managers who might pre#udice the e7ercise as

interfering with normal work. n order to see that the conditions f the research

are maintained as presented9 the researcher should establish and maintain very

close 5an e7pensive6 surveillance. This cost factor in itself is a limiting factor.

naccessibility of some of the roads delay proposed visits to schools.

olume of -uestionnaire was specifically reduced to fill. This reduction

was e-ually made to facilitate data analysis.

5 #EFIITIO OF TE"%S

E#UCTIO6 t has been reali8ed that education is a prime factor of

development. By education here reference is being made to the schools

scattered in the localities of


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A P"OCE#U"E6This is a set of clerical activities through which a company

or organi8ations activities are e7ecuted and controlled which provides

information to management

"E'EUE "ETU"S6 This is a term specifically used in public sector

accounting to demote the process of collecting money on behalf of an

appropriate authority usually the government and remitting such money to that

authority via a pre;set procedure of format.

%ET!O#S6these are the means or ways by which the system in organi8ed

set;ups are operated and implemented.

#ATA6 This is a collection of incoming or soughed facts9 which need to be

processed so that information is produced.

IFO"%ATIO6 This is defined here9 as a product of structured and

processed meaningful data for purposes of satisfying certain desires end or

re-uirements.

POST P"I%A"& SC!OOL6 As it is used in this pro#ect demotes secondary

school post primary institution Accounting in this conte7t can therefore be said

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to be the system of Accounting adopted by post primary institutions in >sukka

8one in 4nugu tate.

ACCOUTIG6 This is a discipline concerned with the recording analy8ing

and forecasting of income and wealth of business organi8ations and other

entities. =enerally it records in money terms the flow of economic values

between and or within economic entities.

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"EFE"ECES

T4%>9 %.A. Principles of Data processing9 second

(>D T4%>9 >.B. 4dition9 >ew Kork9 John @iley and done nc.9

1,*39 P.9 '1)

=A%B0A+ >TT 0(""+ KT4/F 4ast central stated handbook on

school administration 13*2

0%0440D3C$$,C 1332.

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Accounting Procedure in Post Primary Institutions (a Case Study of Udenu LGA)