ACCOUNTING IN THE NIGERIA PUBLIC SECTOR (ISSUES, PROBLEMS AND PROSPECT) A CASE STUDY OF NEPA ENUGU. A RESEARCH PROJECT MATERIAL ON ACCOUNTING
Today must public sector establishment has been accused of financial recklessness perpetrated by various ministries and parastatals, thus has opened up an can of worms in the bosom of our public sector.The problem often experienced by operators of government establishment like National Electric Power Authority (NEPA) in maintaining a good accounting system with a view to enhancing accountability is the object of the research work.However, chapter one deals strictly with the over view of the study in the introduction of the topic, also a brief history of the establishment (NEPA) their target, problems etc.Chapter two talked about the basis of public sector Accounting, Acts regulating Nigeria public sector Accounting. Financial control in government accounting, comparison between government and commercial accounting, users of public sector accounting and finally some problems were identified.This research work was carried out through oral interviews and distribution of questionnaires for the collection of data & relevant information from the departments of public affairs and accounts of the National electric Power Authority (NEPA) Enugu. Also information was sourced through secondary data, which includes textbooks, annual report and customer service charter NEPA).The following chapter death with the analysis of data and testing the formulated questionnaire with chi-square technique.Finally, the summary of the findings, conclusion and recommendations were discussed.
1.2 BACKGROUND OF THE STUDY
This historical perspective briefly traces the genesis of government accounting back to the ancient civilization of Babylon, Egypt, China, Greece and Rome as well as to the medieval civilizations of Europe up to the colonial experiences of Nigeria in the early 20th century.
i. ANCIENT BABYLON: The temples and government of Babylonian Empire (3000 BC to 300 BC) employed hundreds of scribes as administrators. Supervising temple accounts on a great mass of tablets” describe a variety of receipts and disbursements, wage payment, rental income, interest on loan, and real estate transactions. Both the temple and the royal treasury sent scribes to distant parts of the Empire as collectors of taxes and tributes. These men incurred traveling expenses for which they were later reimbursed. Tithe and property taxes were normally paid in kind. periodically the scribes prepared inventory of assets on hand. Evidences of royal examination and audit exist (Keister 1963).
ii. ANCIENT EGYPT: By about 5000BC the two Kingdoms of upper and Lower Egypt were founded. They were united under Menes regarded as the first Pharaoh around 3500BC with capital at Memphis for several centuries all the land was owned by the king and the nobility. The district governors called nor March’s were responsible for the collection of taxes in the “nomes” (that is district) under their jurisdiction. These were paid in kind since stamped money was unknown among the Egyptians till about the 4th century BC.