A CRITICAL REVIEW OF THE IMPACT OF GOOD ACCOUNTING SYSTEM IN THE GROWTH AND DEVELOPMENT OF INSURANCE INDUSTRY. A RESEARCH PROJECT TOPICS ON INSURANCE
ABSTRACT
This study survey critical review of the impact of good accounting system in the growth and development of insurance industry. Some problems facing accounting system includes, Good accounting system has not been adequately carried out in insurance, inadequate accounting management. In insurance industry causes fraud, financial statement mis-interpretation also causes a problem. Objective was on the problems of good accounting management. This study critically reviewed the problems of good accounting system in 1G1, leadway and NICON insurance companies. This study made affair contribution towards the understanding of the treatment of various items by insurance companies and their accounting department. Data was sources from primary and secondary data, the primary data used was questionnaire the and observation to the accounting staff of IGI leadway and NICON, while secondary data are annual reports accounts, journals insurance year book etc. in the determining the sample size, Taro Yamani’s was used. Method of data presentation, tabular method was used in data presentation and analysis, it assembles information on the attributes under study in such a way that the relationship between all the information that can be observed and clearly understood at a glance.
PROPOSAL
This study will survey critical review of the impact of good accounting system in the growth and development of insurance industry. Some problems facing accounting system includes, Good accounting system has not been adequately carried out in insurance, inadequate accounting management. In insurance industry causes fraud, financial statement mis-interpretation also causes a problem. Objective of the study is to find solution to the above problems, to examine why good accounting system has not been adequately carried out in insurance, to evaluate how inadequate accounting management in insurance industry can cause fraud, to explain how financial statement mis-interpretation can cause problem. Research questions are, why is Good accounting system has not been adequately carried out in insurance? How is inadequate accounting management in insurance industry causes fraud? Explain how financial statement mis-interpretation also causes a problem? Reference some information was collected from library and some text books, RAM Olugbega (2004) theory and practice of long terms insurance soace publishers. This study is an attempt to review the problems of good accounting system in 1G1, leadway and Nicon insurance companies. This study will make affair contribution towards the understanding of the treatment of various items by insurance companies and their accounting department .Sources of data, data was sources from primary and secondary data, the primary data use are questionnaire the conduct of interview and observation to the accounting staff of IGI leadway and Nicon, while secondary data are annual reports accounts, journals insurance year book etc.
Method of data presentation, tabular method will be used in data presentation and analysis, it assembles information on the attributes under study in such a way that the relationship between all the information that can be observed and clearly understood at a glance. Finally, on the findings, when Its seems that good accounting system has not been adequately carried out in insurance, inadequate accounting management in insurance industry causes fraud and financial statement misinterpretation also causes a problem are due to not shaving qualified accounting staff, inadequate training of accounting staff and lack of interest in this accounting department of insurance industry.
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