THE COURSES AND EFFECTS OF MISMANAGEMENT IN THE FINANCIAL INSTITUTION AND THE POSSIBLE SOLUTIONS. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
The research topic discussed the examination of The Course Of Mismanagement In The Financial Institution And The Possible Solutions.
The author stated with a discussion on the background of the study, statement of the problem, objective of the study and the significance of the study. Scope and limitation of the study and also definition of terms.
She went further to review the existing literature on the subject. The author revised unqualified accountant handling the account book as a manager, inflation of contracts, perfect fraud in financial institution, effect to the staff, effect to the individual and the entire citizenry. The author went further to research the methodology, under this; we have something like the area of study, population, sampling size, sampling method, source of data and the analysis of data.
Finally the author discussed the summary of the findings, made some recommendation and conclusion towards the research project topic.
DEFINITION OF TERMS
- Balance sheet: this is statement showing the total asset and liquidity of a business
- Double – entry book-keeping: this is general aspect method of transaction which demands that every transaction should be recorded towise in the book of account to give complete information of the receiver and the giver of the values in that simple transaction.
- Accountant information: they are those processed accounting that is made available to the management from various accounting department and which assist management in the decision-making.
- Accounting standard: this is the codification of the accounting application to remove the subjective form the accounting practice.
Course of mismanagement of fund in the financial institution.
Mismanagement has created a lot of impact to all aspect of life where some institution were unable to pay workers salaries and even allowances, and some grade has been giving to the workers to extent that if their request are not been solved, they will react.
BACKGROUND OF THE STUDY
A financial institution is an organize body concern with the management of money. This to say that the institution is responsible for the lending and borrowing of money. In other word, it is the institution involved in financial intermediation where money is mobilized and is channeled from the public settings. Those who have surplus fund want to invest in productive activity. Some of this institution in Nigeria is the commercial bank, stock exchange market, merchant bank, CBN, insurance market and the development banks.
Mismanagement is defined by land man English dictionary version as control with private, public, or business affaire badly or unskillfully.
Mismanagement is also defined by Oxford English dictionary as mismanaged, improper administration to manage wrongly. The financial mismanagement according to the above definition may be improper administration, wrong uses of money, and inadequate collateral security of granting loan.