CHAPTER ONE INTRODUCTION 1. BACKGROUND OF THE STUDY The reforms in the financial system in Nigeria which heightened with the 1986 deregulation‚ affected the level of financial deepening of the country and the level relevance of the financial system to economic development. Nnanna and Dogo (1998) However‚ the rapid globalization of the financial markets since then and the increased level of integration of the Nigerian financial system to the global system have generated
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The impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries‚ before the inception of Information and Communications Technology (ICT)‚ the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports‚ carried out during accounting year ends‚ the preparation of accounting records‚ book such as the profit and loss account‚ the balance sheet
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The role of accounting The role of accounting in business is to help interested parties (internal and external) to make business decisions. LEARNING OBJECTIVE Explain how the accounting process aids in the making of business decisions KEY POINTS Financial accounting generates some of the key documents‚ including profit and loss account showing the method of business traded for a specific period and the balance sheet which provides a statement showing mode of trade in business for a specific
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Nature of Auditing and the Public Accounting Profession 1. Auditing neither creates goods nor adds utility to existing goods and therefore does not add value to business. Auditing exists only because it has been legally mandated. Auditing exists because it is needed by the company. It is beneficial to users who need assurance if their financial statements reflect economic conditions that occurred in a period. Without reliable information‚ companies might make less effective decisions which
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|Francis Marion University | |Exposure of the Accounting Profession To Increasing Liability | |Response of the Profession | |
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ROLE OF NAFDAC IN AIRFREIGHTING IN NIGERIA PRESENTED BY PROFESSOR DORA N. AKUNYILI (OFR) DIRECTOR-GENERAL (NAFDAC) AT A ONE-DAY SEMINAR ON OPTIMISING OPPORTUNITIES FOR AIRFREIGHT IN NIGERIA ORGANISED BY NIGERIAN SHIPPERS’ COUNCIL 24TH AUGUST 2006 INTRODUCTION: It gives me great pleasure to be invited to present a paper at this one day sensitization seminar with Theme Optimizing opportunities in the Airfreight industry‚ organized by the Nigerian Shippers Council for importers/exporters‚ operators
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USDA =a United States Department of Agriculture Rural BusinessCgccyE&ive FIBS Research Report 154 Analysis of Financial Statements: Local Farm Supply‚ Marketing Cooperatives This report analyzes the balance sheets and income statements of local farm supply and marketing cooperatives‚ comparing 1995 and 1994 and trends over the past 10 years. The data in this report represent four cooperative sizes and types. Common size income statements and balance sheets are used to compare different
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Why Are Ethics Important In The Accounting Profession? Sheree Fletcher CE CAPSTONE COURSE FOR THE ASSOCIATES DEGREE IDS399 September 10‚ 2006 What does ethics have to do with accounting? Everything‚ since there have been some recent financial accounting scandals; a few examples being Xerox‚ WorldCom‚ Enron‚ which have generated much unwanted and unfavorable publicity for CPA’s‚ including those working as controllers or chief financial officers for organizations. When you hear the
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4.2 MAJOR CONTRIBUTIONS OF MINERALS TO THE ECONOMY IN NIGERIA Mineral resources contribute majorly to the Nigerian economy in d following ways; 1) Sources of raw material for allied industries As we can see from the minerals highlighted above‚ minerals are major source of raw materials in industries e. g gold used for jewelries‚ limestone for cement‚ and so on. Organic deposits like coal and petroleum products like natural gas are used in powering machines in the industries. The raw materials
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THE EFFECT OF EXTERNAL DEBT ON THE NIGERIA ECONOMY (1989 - 2009) ABSTARCT This study is meant to examine the effect of external debt on gross domestic product using econometric analysis. The research revealed that Nigeria’s external debt has contributed immensely to the gross domestic product. This has affected investment on the domestic productivity and hence invariably affected the economic growth and development. Due to the macroeconomics distortion in
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