The use of Accounting Information in Public Corporation (A Case Study of NNPC, Ilorin)

TITLE PAGE                                                                                                  

CERTIFICATION                                                                                           

DEDICATION                                                                                                               

ACKNOWLEDGEMENT                                                                              

TABLE OF CONTENTS                                                                                

CHAPTER ONE

1.0         INTRODUCTION                                                                                          

1.1         Statement of the Study                                                             

1.2         Purpose of the Study                                                                 

1.3         Significant of the Study                                                             

1.4         Limitation                                                                                                    

1.5         Definition of Terms                                                                                   

CHAPTER TWO

2.0         LITERATURE REVIEW

2.1         Introduction                                                                                                

2.2         Definition of Accounting                                                                          

2.3         Business Accounting                                                                  

2.4         Scope of Accounting                                                                                 

2.5         Function of Accounting in Business                                       

2.6         Accounting Information System                               

2.7         The Usefulness of Accounting Information System, In Public Corporation               

CHAPTER THREE

3.0         RESEARCH METHODOLOGY

3.1         Introduction                                                                                                

3.2         Historical Background of the Corporation                            

3.2         Sources of Data                                                                           

3.3         Population and Sampling Description                    

3.4         Research Instrument                                                                 

CHAPTER FOUR

4.1         Data Analysis and Interpretation                                            

4.1         Introduction                                                                                                

CHAPTER FIVE

5.0         Conclusion and Recommendation                                         

5 1         Conclusion                                                                                                   

5.2         Recommendation                                                                                      

REFERENCES                                                                                                

CHAPTER ONE

1.0         INTRODUCTION

Public corporation can be defined as the types of business organization that are established by a special act (or ordinance) of the parliament. Public corporations and business owned and financed by the federal, state and local government, as the case may be in the public interest. They can be explained and described also as the type of business) organization thoroughly and solidly established by act of parliament to provide public utilities. This participation in the productive and commercial part of a country’s economy. There are some areas in the economy where it is felt that the free enterprises system and private sector competition should not allowed, as they would exploit the public such as should be run by the government in the pubic interest. Therefore, in Nigeria, where there is a three-tier system of government; The local government, state government and the federal government do run certain enterprise so as to provide essential service for the people.

TYPES AND FORMATION

Government corporations are enterprises that have commercial functions, which are normally established of the federal level by an act of parliament or decree, which specially refers to the corporation. Each corporation, board or authority had a particular or decree establishing it. The cat will take the objectives and of the corporation and specify its power and how it is to be run and managed. At the state level, public corporations are established by a state judge at the local government level are established by social edicts. For instance, the National Insurance Corporation of Nigeria (NICON) was established. Decree 22 of July, 1969 to ‘write all classes of insurance such as fire, Motor accident, workmen’s compensation, marine and aviation, I did Risk…Among others. The Nigeria ports authority (NPA) was established in 1955 to “identify and satisfy the demand for port facilities and services at minimum cost to the nation”. While the Nigeria enterprises promotion board was established in 1972 to advance and promote enterprise in which Nigerians are encouraged to participate fully and play important roles”.

Other corporations and board the federal level includes:

i.             The federal radio corporation of Nigeria (FRCN).

ii.            The Nigerian railways Corporation (NRC)

iii.           The central bank of Nigeria (CBN).

iv.           The National Electric Power Authority (NEPA).

v.            The Nigerian telecommunication Limited (NITEL)

vi.           The Nigerian national Petroleum Corporation. (NNPC)

vii.          The Nigeria coal Corporation (NCC)

viii.         The Nigeria cost corporation (NCC).

Mention may be made of the universities, Polytechnics, College of Education and the research institute which is public sector educational enterprise established by relevant federal acts, decree or state laws is the case be. Pubic corporations are to be independent of the central government as possible. Thus, they are by Boards or councils each of which has the board of Directors of A Company. Each corporation also have general Manager or similarly placed officer who is the chief executive reporting to the board a council

 THE FEATURE OF PUBLIC CORPORATION

One of the main features of the public corporations that a manager is put in as supervisor in the running of the business. The board of Directors in responsible to the minister of the government and the parliament. This is one reason why the public corporation type of business is described as being controlled by the government.