Auditors’ Independence in the Context of National Transformation and Sustainable Economic Growth in Nigeria

SALAU O.N., ALADESUNKANMI A.J. AND SALAU A.R.

Department of Accountancy

Federal Polytechnic, Bida, Niger State, Nigeria.

E-mail: meetnass@yahoo.com, princejohnbayo@yahoo.com, arahbel2006@yahoo.com 

ABSTRACT

In the context of the recent financial crisis and the increasing number of financial scandals in the country, a series of questions regarding the position of professional accountants need to be clarified in order to comprehend the ways and manners in which auditors discharge their professional obligations. This paper examines the global perception about the auditors’ independence with the aim of improving the quality of audit practice in Nigeria for the actualization of national transformation and sustainable economic growth and development. Data are collected through primary and secondary sources to assess the factors influencing the independence of audit using descriptive statistics. The research reveals that rendering of non-audit services by auditors, among other factors, poses serious threat to auditors’ independence. It is therefore recommended that, relevant laws should be strengthened to enforce prohibition of execution of lucrative consulting contracts by statutory auditors.

Is Debt A Blessing Or A Curse? An Empirical Analysis of

Some Nigeria Firm

AKANDE J.O.

Department of Accounting

University of Jos, Jos, Plateau State, Nigeria.

E-mail: akande_joseph@yahoo.com

ABSTRACT

Globally, plethora of empirical evidences by researchers has attempted to corroborate the theoretical underpinning of capital structure with respect to debt financing. While this has continued to be a burden, this work aimed at answering the question of whether increasing the debt proportion of firm will increase it fortune or otherwise. Ordinary Least Square (OLS) regression analysis was employed using panel data to analyse the data collected from the financial statements of ten (10) Nigeria firms over 20 years (1991 – 2010). ROA, ROE, EPS and DPS on the one hand and DC on the other hand, were surrogated for firms’ performance and debt financing respectively. From the regression analysis we found that there is a positive relationship between DC and ROE, EPS, DPS; while a negative relationship exists between DC and ROA. Hence we conclude that the proportion of debt finance contained in the capital structure of a firm will considerably impact on its performance. Thus, the recommendation among others is that Nigeria government should see to the review of the cost of making credit available to businesses in order to reduce the cost of debt financing so as to encourage firms further borrow to finance their positive NPV projects as predicted by the M-M proportion II theory.

Resolution at All Level of Human Relationship

FRANCIS, U.U.

Department of Business Education

Adeyemi College of Education Ondo, Ondo State, Nigeria

E-mail: francisuche80@yahoo.com, ukaikeuchefrancis@gmail.com

ABSTRACT This article focused on Secretarial Education/Administration as a Tool for Conflict Resolution at all level of Human Relationship. Invention of information and communication technologies have no doubt revolutionized secretarial education/administration, so much that secretarial profession has become more vast and demanding. We cannot deny the fact the conflict resolution is achieved when confidentiality is being uphold in any established, nation or the world at large. This paper reviews the concept of secretarial education, conflict resolution and goes further to examine how secretarial education can aid in conflict resolution, secretarial education in the past and present, the position of secretarial education and practice in Nigeria, relevance of secretaries in an organization, conflict resolution styles/strategies, conflict management and resolution, secretarial education and conflict resolution, secretarial education as an interface for interpersonal communication and conflict resolution, conclusion and recommendation.

A Study on Survival Strategies of Small and Medium Enterprises in Kano Metropolis for the Period 2005-2010

¹ADEOTI, M.O., ²GATA, E.G. AND ³MUSTAPHA, N.M.

^1,2&3Department of Business Administration and Management

Federal Polytechnic, Bida, Niger State, Nigeria.

E-mail: adeotilekan@yahoo.com

ABSTRACT

The survival of the fittest is not only peculiar to animal behaviour; business firms often make frantic attempts to outsmart each other by developing and implementing winning strategies. Many business firms operate in a perfect competitive market, where only the best survives. The instinct for survival has become a worldwide phenomenon; hence, nations develop many bailout plans and strategies, cut costs, cuts in employment and other costs, just to survive. In this vein, this paper examines the various means adopted by several small and medium enterprises in Kano metropolis for survival during the economic melt-down that rocked the world: emphasis is centered on 2005-2010. The methodology used by the researchers include, collection of data from both primary and secondary sources. The primary data were collected through the administration of questionnaires to selected small and medium enterprises owners/operators in Kano metropolis. Stratified sampling method was employed. It was discovered that many business owners adopted penetration strategy; some introduced new products/brands while others employed consolidated strategy and improved marketing activities. The paper concluded by recommending that management of small businesses should endeavour to pay more attention to the nature and intensity of competition/rivalry among small and medium enterprises in Kano, especially those in related businesses.

Computerized Accounts, Receivable Accounting and Financial Performance of Supermarkets in Port Harcourt

¹BRIGGS, D. AND ²BAMSON, T.J.

¹Department of Accounting, University of Port Harcourt, Nigeria

²Chartered Institute of Purchasing and Supply Management of Nigeria (Rivers State Chapter)

E-mail: michaelbriggs4real@yahoo.com, bamsontamunoene@yahoo.com 

ABSTRACT

The paper examined Computerized Accounts Receivable Accounting and Financial Performance of Supermarkets in Port Harcourt. Computers are machines or electronic devices that can do billions of computations at very high speed, analyze business and do a lot of office duties when programmed. Computer systems can shorten the lead time needed by accountants to prepare and present financial information to management and stakeholders. The need for supermarkets to be reliable and efficient in service delivery is very important. Hence, computerized accounting system can boost efficient performance in supermarkets and enable them to compete favourably in the business environment. The paper concludes that a computerized accounts receivable accounting is the application of computers in the management of credit involving accounts receivable that is entered into by retail firms and their customers. Retail firms have routine accounts receivable issues with their numerous clients. Thus, the use of computers makes it easy and efficient for the firms to manage their accounts receivable. Therefore, the paper recommends that supermarkets should use computerized accounts receivable system in order to have easy and efficient business transactions with their teeming customers.

Ratio Analysis in International Financial Reporting Standards: Issues and Challenges

UKPAI, U.I.

Department of Accountancy

Akanu Ibiam Federal Polytechnic Unwana – Afikpo, Ebonyi State Nigeria

E-mail: theigwes@yahoo.com

ABSTRACT

This study focuses on ratio analysis in International Financial Reporting Standards (IFRSs) Environment: Issues and Challenges, which becomes a relevant study now. The adoption of IFRS by many nations has put many accountants off the former methods of doing accounts, especially in developing countries like Nigeria. The objective of this study is to treat ratio analysis in IFRS Environment, touching issues relating to terminologies as well as fully identifying the limitations of ratio analysis in that perspective. The study used analytical/illustrative tool. The study discovered that IFRS had impacted a lot of changes in terminologies and arrangements on the Financial Statements cum ratio analysis, which is based on financial statements. It recommended that Financial Reporting Council of Nigeria (FRC) should wake up to deeper trainings of educators and accountants in IFRS applications.

Employee Turnover and Its Effects on Organizational Productivity of State Owned Institutions in Niger State:

(An Impediment to Achieving Vision 20:2020 in Niger State)

IBRAHIM A.M., USMAN B.U. AND BAGUDU M.W.

Department of Business Administration and Management

The Federal Polytechnic, Bida, Niger State, Nigeria.

E-mail: tatafoundation@hotmail.com

ABSTRACT

Employee turnover as a term is widely used in business circles. Although several studies have been conducted on this topic, most of the researchers focus on the causes of employee turnover but little has been done in examining the sources of employee turnover, effects and advancing various strategies which can be used by managers in various organizations to ensure that there is employee continuity in their organizations to enhance organizational competitiveness, hence withstanding the test of time. This paper examined the labour turnover among state owned institutions in Niger state, Nigeria. Subject for the study were fifty eight (58) drawn from three state owned institutions in Niger state, namely Niger State Polytechnic, Niger State College of Education and Niger State School of Nursing. The stratified random sampling technique was used through convenience approach in the selection of subjects. The questionnaire method was used to collect relevant data for the study. Data collected was analyzed, and the analysis reveals that most employees leave for other institution because of inequity in pay (salary). They also reveal that the attitude and management leadership style towards promotion and advancement constitute a major reason why they leave state owned institutions. Conclusion was drawn; it’s however obvious from the literature review and past research findings in the course of this study that employee turnover is a difficult phenomenon to control. Recommendations were given which include the need for Niger state government to put policy in place through given of directive to managers of state owned institutions in areas of implementing the policies relating to staff welfare and conditions of service of employees. This will reduced the exit of experienced employees from state owned institutions.