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Author(s):
Editor in Chief.
Page No :
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African Journal of Accounting and Financial Research, Volume 1 Issue 2, Full Issue
Abstract
African Journal of Accounting and Financial Research, Volume 1 Issue 2, Full Issue
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Author(s):
Ombugadu Bala Azagaku, Sylvester Umbugadu Aku.
Page No : 1-15
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The Audit Expectation Gap in Public Firms in Nigeria: A Focus on Selected Firms in Nasarawa State
Abstract
Audit expectation gap (AEG) is the deference between what the public expects from an audit function and what the audit profession accepts the objective of auditing to be. The existence of an audit expectation gap is likely to be detrimental to the value of auditing and the well-being of the auditing profession. This has stirred a number of professional and regulatory reforms aimed at protecting shareholders who rely on the financial statements for decision purposes. Despite the existence of research elucidating the difference between what the public expects from audit and what the audit profession accepts as the objectives of auditing, there appears to be few researches on how to address this issue in Nigeria. This study was conducted with the primary aim of contributing to knowledge towards narrowing the apparent expectation gap between the users of financial statements on one hand and the auditors on the other hand. This research investigates whether Audit expectation gap exists in public firms in Nigeria with focus on Nasarawa State. Respondents view was also sought on how to narrow the gap. Four hypotheses were formulated and tested using descriptive and Kolmogorov – Smirnov (K-S) test. The study reveals that an audit expectation gap exists in Nigeria, specifically on issues relating to auditor’s responsibility. Therefore, the study recommends educating the public about the objects of an audit, auditors’ role and responsibilities, to narrow the audit expectation gab.
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Author(s):
Affiru Anyuabuga Stephen, Hasyiya Yakubu Mohammed, Chritiana L. I Tanze .
Page No : 16-30
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Internal Controls and System Audit: It’s Application in the Public Sector: A Case Study of Nasarawa State Government
Abstract
The study sought to determine the application of internal control system and system audit which are important in achieving the objectives of public or private organizations. This study assessed the internal control system of public sector institutions in Nasarawa state Nigeria using five major state government ministries randomly selected. The study relied on both primary and secondary data. Primary data was collected using structured questionnaires while the secondary data was gathered from the government ministries based on availability and accessibility of data. The method of data analysis is simple percentages. Findings revealed that many components of internal control system are put in place except that the internal audit units of those ministries are not independent and are in partial compliance. The study therefore recommends that there should be effective disciplinary measures to be sustained to ensure strong compliance with internal control through appropriate penalty for breach of ethical conduct.
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Author(s):
Eke Gift O.
Page No : 31-54
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Management Accounting Information and Corporate Performance of Manufacturing Companies in Rivers State, Nigeria
Abstract
Since the industrial revolution era, management accounting has become a recognized field of accounting practice. However, many organisations (manufacturing companies inclusive) do not completely appreciate the need for the institution of a full-fledged management accounting system to support managerial decision making. This could be basically attributed to the lack of knowledge of what constitutes management accounting information and the fact that financial reporting mentality still dominates the accounting activities and procedures of many manufacturing companies. The main objective of this study was to establish the nature of the relationship between management accounting information and corporate performance of manufacturing companies in Rivers State, Nigeria. To achieve the primary objective of the study, the cross-sectional survey design was adopted. The population of the study was made up of the thirty-two (32) manufacturing companies in Rivers State registered with the Rivers/Bayelsa State branch of the Manufacturers Association of Nigeria (MAN). All the population elements make up the sample of this study; hence, a census of the population was done. Purposive sampling technique was adopted in selecting ninety-six (96) respondents for the purpose of data collection. Data collection was done primarily using structured questionnaire. Analysis of data was carried out using descriptive statistics while linear regression and correlation analysis were used in testing the hypotheses. The investigation revealed that a positive linear relationship exists between management accounting information and corporate performance of manufacturing companies in Rivers State and that management accounting information accounts for less than 10% of change in corporate performance (measured using net profit). The study concluded that the performance of a manufacturing company does not substantially depend on management accounting information since the correlation between the two variables is very weak. One of the recommendations made was that management of manufacturing companies should continue to demand management accounting information so as to sustain the positive relationship that has been identified to exist between management accounting information and corporate performance.
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Author(s):
Chritiana L. I. Tanze, Affiru Anyuabuga Stephen.
Page No : 55-68
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Chart of Accounts: A Critical Element of the Church Financial Management Framework in Nigeria (A Survey of Selected Churches in Nasarawa State, Nigeria)
Abstract
This paper discusses the subject of “best practices” for designing and implementing chart of accounts and how to put them into place in churches and ministries. The Chart of Accounts provides a critical financial management solution for churches and ministries whose administrative and economic infrastructure is obsolete, or has been destroyed through mismanagement of fund by unqualified staff. The paper adopts primary method to collect its data. Five church Denominations/Ministries were selected from available church Denominations and Ministries in Nasarawa state. The population per selected business is ERCC 20; ECWA 25; COCIN 20; Living seed (Peace House) 25; Word of God Ministry 10; were selected using the random sampling technique. Tables and simple percentages were used to analyze the data. The paper finds that not all the churches and ministries uses chart of accounts holistically in the preparation of their financial statements. Therefore, the paper recommended that a down-earth application of chart of accounts should be embraced by church denominations for efficiency and growth.
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Author(s):
Osama Ben Rajab.
Page No : 69-77
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Estimate the Health Service Quality at the Public Hospital Tripoli Libya
Abstract
The aim of the paper was to understand patients with heart failure, with a particular emphasis on their experiences of food and food intake through developing a theoretical model. The study is descriptive and exploratory in nature while using grounded theory approach because the study is inductive in nature, which means that the author wanted to generate theories and models rather than to test hypothesis. The study has used qualitative method and data collection method was interviews of patients with heart failure. To analyse the interviews, interview transcripts were sorted in different categories or patterns, each pattern were coded and then recoded. This means that there were various categories and sub-categories; this helped the authors to see various relations and interactions between categories and/or sub categories. The findings of paper suggest that there are two primary categories, emotions and meaning for food. Emotions such as positive ones could be associated for wellbeing and comfort while negative emotions could be associated with sorrow and burden. Moreover, the patient’s experiences of food and eating changed during the course of the disease. Patients with severe heart failure had increased problems with food and ate only for sake of sustenance as a result weight loss was found in those patients. Therefore, as patients with heart failure suffered with sad emotions it reflected in their eating habits, i.e. they lost interest in eating which further resulted in losing weight. These problems are more common in patients above 80 years old however primary health care nurse could help their situation.
