Accounting Information As A Tool For Decision Making In Business (A Study Of Some Selected Firms In Rivers State)

Project and Seminar Material for Accountancy / Accounting

Accounting Information As A Tool For Decision Making In Business (A Study Of Some Selected Firms In Rivers State)


This work is an attempt ot re-emphasize the role of accounting information in ensuring good decision of business organizations. In this work, accounting information is seen as the only means by which the management of any business organization could communicate to its staff, debtors, creditors, government and infact, the general public about its operation successes and failure properly packed, the accounting information of a business speaks volumes of the availability or other wise of the business. specifically, this work ex-rays the extent to which business organizations make use of accounting information in achieving the objective of good management direction and control. All the accountants, managers, and some other staff in decision making position in business organization of this study. A total of 23 accountants, managers and members of management were randomly selected from three companies in Port Harcourt – River state.

This work notes that inspire of the importance of accounting information to business organization, companies make little or no good use of it. I should encourage the use of accurate, timely and capable financial data to generate good accounting information adequate enough to be used in a basis for day to day and periodic business decision. This is necessary not only to sale their organization from collapse but to help our economy to grow

Table Of Contents

Preliminary Page(s)

  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Abstract
  • Table of contents

Chapter One:


  • 1.1 Background of the study
  • 1.2 Statement of problem
  • 1.3 Objective of the study
  • 1.4 Research Questions
  • 1.5 Significance of the study
  • 1.6 Scope of the study
  • 1.7 Definition of terms

Chapter Two:

2.0 Introduction

  • 2.1 What is accounting
  • 2.2 Objective of accounting
  • 2.3 Business objective & management function
  • 2.4 Application of accounting in decision making planning and control
  • 2.5 The scope and users of accounting information

Chapter Three:

3.0 Introduction

  • 3.1 Research Design
  • 3.2 Population of the study
  • 3.3 Sample and sampling techniques
  • 3.4 Sources of data
  • 3.5 Method of data collection
  • 3.6 Validation of the instruments
  • 3.7 Distributed and retrieval of the instruments
  • 3.8 Method of data Analysis

Chapter Four:

4.0 Data presentation and Analysis

  • 4.1 Introduction
  • 4.2 Data presentation and Analysis
  • 4.3 Finding

Chapter Five:

5.0 Summary, Conclusion and Recommendation

  • 5.1 Summary of the Findings
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • Appendix A
  • Appendix B
  • Questionnaires

Chapter One

1.0 Introduction

1.1 Background of the Study:

The Board of Internal Revenue, Enugu in Enugu state has its origin back to the era of our colonial masters in Nigeria being establish along side other government agencies. As internal Revenue, a division of the ministry of finance in the then Eastern Nigeria, the aim was to generate revenue to enhance the execution of her mapped out programmes. The Board of internal Revenue was established as an autonomous government agency charged with the sole responsibility of tax administration with the jurisdiction of the then Eastern Nigeria. This took effect in 1960 after the independence followed by much demanding and expanding responsibilities.

It therefore, has undergone and served various governments since its inception such like Eastern Nigeria, East central state, Anambra state and to its present state as one of the leading and autonomous viable extra-ministerial department of Enugu state government. Policies are formulated and implemented just for the better welfare of the people by the government either in national, state or local levels. therefore at different levels the government has various organs by which it executes their policies for the interest of its subjects. Among these organization especially in Enugu State is the Board of internal Revenue, Enugu.

It is through that there were such changes in government and the ones arising from even successive governed especially on those government organs yet, there is that constance in the duties and responsibilities of the said Board in Enugu as the main organ charged with the generation of revenue for the government the execution of her programmes.

With due consideration, therefore as to the objective and with particular reference towards achieving the goal of the Board of internal Revenue, Enugu as an organization. There must be an effective and efficient tax administration with in and outside state on behalf of the government. A summarized break down of the objectives of the organization goes thus:

  1. To assess personal income tax on persons and enterprises other than that of limited liability companies.
  2. Taxes is to be collected on behalf of the state under the following divisions:
    • Personal Income tax
    • Entertainment tax
    • Pay as you earn
    • Road tax
    • Social function tax
    • With holding taxes on contracs, rents, dividends, director’s fees and professional fees etc.
  3. To advice government on tax matters.
  4. To render proper account of the revenue collected on behalf of the state.
  5. To formulate tax policies in liaising with the joint board.
  6. To prepare annual revenue estimate.
  7. To liaise with federal Board of Internal Revenue for the state share of value Added Tax (VAT)
  8. To prepare and render weekly, monthly and annual revenue returns.
  9. To issue and validate tax clearance certificate.
  10. To investigate and obtain information for tax purposes etc.

The Board with its present organizational structure has the director of internal Revenue as the Chief executive and Accounting officer. The position of the director of internal revenue through mandatorily as occupied by a career officer, yet has the status of director general by federal government directive.

In accordance with Decree 43 of 1983 (now abrogated) the Board now has three main service department namely: personnel management department with sole responsibility for all personnel functions; finance and supplies department directly in charge of all matters concerning finance and supplies; and the planning, research and statistics department-which is in charge of planning and other related matters. Others are the line department which carryout the duties with which the Board is identified / established. These department include Assessment Department. It shoulders all matters related to tax assessment. Then the collection department which is entirely responsible for tax collection form all sources; the investigation and information procurement department whose duty is to investigate and procure information for tax purposes. Then to enhance a grassroots and effective execution of its due responsibilities, there are three special zonal officers married by zonal tax authorities re-established by the Board with in the state namely zonal tax authorities, Enugu zone, Nsukka zone and Abakaliki zone (in the present Ebonyi state capital). They are responsible for tax assessment and collection form all local government motor licensing and tax offices with their zonal being directly responsible to the director of internal revenue as it affect all tax activities in their different zones, they collect and render weekly, monthly and annual returns as at when due.

The motor licensing offices are controlled by the motor licensing offices authorities while the executive secretaries to assessment authorities control the local governed tax office. The life wire of the Board of internal revenue activities within the present Enugu state comprises the zonela and local government tax and motor licensing offices.

Below is a diagram of organizsational structure of Board of internal Revenue, Enugu to expantiate more as to the above:


1.2 Statement of the Problem

Almost all activities are generally and basically determined and are being carried out by actors (persons) that maku up such public sector. Lmachinery, materials and money (structures) together iwht time can be unproductive without human efforts and directions human manpower, simply every aspect of the activities of any or all public sector is determined by the competence and general effectiveness of its available human resources.

I therefore, maintain that both the behaviour and attitude ot work by the employees of any said public sector are often associated with or influenced by level of motivation and other factors available in such establishment such employee motivation includes:

  1. Clearly defined schedule of duties
  2. Reward for effectiveness / over time claim
  3. Conductive working environment
  4. Hazard allowance
  5. e) Adequate information
  6. Opportunities for improvement – Training etc.
  7. Adequate supply of working tools
  8. Transportation – travel allowance
  9. Health / welfare service (canteen, hospital, sick / maternity leave
  10. Confidence and trust
  11. Adequate recognition and protection
  12. Accommodation
  13. Reward for sacrifice
  14. Pre-retirement attention / pre-briefing
  15.  Equity and fairness

these and other employee motivation factors plays a vital role (positive effect) in the performance and effectiveness of the staff in any public sector. Therefore the level with which these motivating factors are provided especially to public sector offers some remedy for comparison in terms of genral performance between two organizations that perform similar functions e.g (union bank and Afri bank)

1.3 Purpose of the Study

This little work is hereby deigned to contribute to the issue of employee motivation as it affects the public sector, its workers to enable them put in their best performance in the immediate existing task of nation building towards the imporvemnt of our economy. This sole desire and hopelessness into which the employee motivation especially in publc sectors has been place. This resulting from the unstable policy, economy and its inflationary trend.

The study therefore is aimed ot identify those factors that motivate employee in the public sector and their impact on job performance. it is basically directed toward identify those motivating factors which are lacking in the board of internal revenue Enugu. Analysis would be made on their general implication and suggest possible solution on how best an employee should be motivated in order to effect an improved job performance especially in the public sector.

1.4 Significance of the Study

This study of under taken to emphasize the necessity of employee motivation I public sectors which are service oriented establishment with set objectives to achieve lack of such factor and hence motivation shall obviously lead to how performance among workers and eventually to non-realizaiton of the set goal of the establishment.

It will offer possible solution as to how employee can be motivated in order to enhance job performance.

1.5 Research Questions

It will be necessary to examine the following question.

  1. Can you identify the time / duration spent by employees in the Board of internal Revenue, Enugu state.
  2. Do you think that the employees of the Board of Internal Revenue performed at optimum level? yes / No
  3. From the question above, if you answer is yes please could you mention some of he factors where you based your opinion.
  4. Is there over-staffing in the Board of Internal revenue Enugu state, which may prevent the government from motivating them accordingly.

1.6 Scope / Delimitation of the Study

This study is focused on those factors which affect the motivation of employees in the public sector, with particular reference to the workers of the Board of Internal Revenue Enugu state.

1.7 Definition of Terms

For the purposes of clarification and proper under standing of this work, several concepts and term used here with, to an extent be defined as follows:

1.7-1 Employees:

This refers to all the worker employed and working in an organization / establishment.

1.7-2 Motivation:

Is a general term applying to he entire class of drives, desire need wished and similar forces. This reflects wants, hey are the identified rewards or incentives that sharpen the drive to satisfy these wants. It also the menas by which conflicting needs may be recociled or one need hightened so that it will be given priority over another that conscious effort made to induce a positive attitude of a person or group of persons toward something.

1.7-3 Satisfaction:

Refers to the contentment experienced when a ant is satisfied. It is the out come already experienced.

1.7-4 Public Sector:

It is there establishments set up and is controlled by either the government by private individuals. A field of activity especially of business trade etc solely designed to serve the public.

1.7-5 Goal:

This refers to the objective or target set for achievement or realization by an organization.

1.7-6 Condition Of Service:

This is he stipulation of a number of incentives aimed at attracting he right calibra of employees as well as inducing the worker to produce salary. Housing allowance, pension, leave allowance, free insurance vehicle loan and free medical etc.

1.7-6 Productivity:

It refers to the workers out put per annual, hour or performance in relation to his work.

Chapter Five

Summary of Findings, Conclusion and Recommendations

5.1 Summary of Findings

Among the major objectives of an organization is to be able to provide the relevant atmosphere (conducive environment) for its employees to optimize their performance in pursuit of the organizational goal. Therefore, a good welfare scheme and over motivating factor gives staff a sense of belonging, thereby motivating them to work harder to improve general output. Mashlow and Mcgregor emphasized the motivating power of money and materials rewards to ensure workers commitment towards achieving the organizational objectives.

It therefore become clear that given the findings of this study that there exist a high level of significant lapses on the welfare scheme and other motivating factor of the employees within the establishment, that is Board of Internal Revenue, Enugu.

The negative consequences (as exhibited by workers non-challant attitude to their work, absenteeism, lateness and divided interest) in the achievement of the set objective of the establishment as the avenue, for revenue generating / generation in the states becomes very obvious.

It is of urgent necessity that the management of the Board of internal revenue, Enugu should find time (re-structure) its managerial planning strategy so as to bring a greater harmony the man-power and material resources available to it, towards the optimal realization of the organization’s set objectives of revenue generation for the state government.

In order to achieve their goadl nobody is left in doubt as ot the direction and being the safest and fastest means of deputing conflicts and rumor’s. Therefore, the Board should establish a good communication link between the top officers (from headquarters-in terms of policy formulation) down to field officers including other junior staff as towards execution. This will produce a favourable increased output.

A welfare committee should be set up with personnel department or his representative as members. Through this organ matters affecting staff welfare within the board will be recommended to the management, such as the recently introduced housing scheme for civil servants.

The need to spell out the categories of out of pocket expenses should be considered and put into practice immediately. This could be claimed back and effort made to settle them whenever funds are available. Furthermore, appreciation letter or favourable oral comments should be extended to staff who performed creditabley either in their schedule or in their use of initiatives.

Finally, the management of the board should always be prepared to protect any of her staff in the face of external aggression. This is on the understanding that each member of staff forms a part of he entire image of the establishment.

5.4 Limitations of the Study

Time, space, finance, difficulty in gathering data were some of the factors which limited the effective writing of this research. The researcher had to combine lectures and academic or generally with the carrying out of the research and it was not an easy task.

Lack of adequate funds also constituted constraint in collection of data, it did not allow the researcher to travel to Enugu Board of internal Revenue office in any time as she have wished to collect data. Besides, the workers were always very reluctant to give the researcher the relevant information either due to apathy of peer of revealing official secrets.

5.5 Suggestions or Further Research

The researcher recommends that in future others can also do a detailed study of motivational tools, and their effect on the productivity of workers in other establishment.

Emphasis should be placed on those thing which would encourage workers every where to perform maximally especially on, training, incentives, / reward systems, salary increase promotions etc.

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