Table of Contents

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.                                                                          1 – 12

Ratio Analysis in International Financial Reporting Standards: Issues and Challenges

Ukpai, U.I.                                                                                                                                13 – 33

Computerized Accounts Receivable Accounting and Financial Performance of

Supermarkets in Port Harcourt

Briggs, D. and Bamson, T.J.                                                                                                     34 – 48

A Study on Survival Strategies of Small and Medium Enterprises in Kano Metropolis

for the Period 2005-2010

Adeoti, M.O., Gata, E.G. and Mustapha, N.M.                                                                           49 – 61

Secretarial Education/Administration as a Tool for Conflict Resolution at All

Level of Human Relationship

Francis, U.U.                                                                                                                             62 – 73

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

Some Nigeria Firm

Akande J.O.                                                                                                                              74 – 107

Auditors’ Independence in the Context of National Transformation and Sustainable

Economic Growth in Nigeria

Salau O.N., Aladesunkami A.J. and Salau A.R.                                                                         108 – 118

Challenge of Risk Management in Nigerian Banks in the Post Consolidation Era

Ibrahim Samson                                                                                                                      119 – 134

Effect of Money Supply on the Stock Market Returns in Nigeria

Chude, N.P. and Chude D.I.                                                                                                     135 – 150

Fraud and Other Financial Crimes Prevention: The Legal and Regulatory Frame Work Versus Zero Tolerance Fraud in Nigeria

Wurim, Ben Pam                                                                                                                     151 – 165

Fraud and Other Financial Crimes Prevention: The Legal and Regulatory Frame Work Versus Zero Tolerance Fraud in Nigeria

WURIM, BEN PAM

Department of Business Studies

Plateau State University, Bokkos, Jos, Plateau State, Nigeria.

E-mail: wurimpam@yahoo.com 

ABSTRACT

Nigeria was ranked as the most corrupt nation among 54 nations studied in 1996 by a Corruption Perception Index (CPI) of Transparency International. The paper is a non empirical assessment of the legal provisions of some of the prominent fraud prevention legislations in Nigeria using some selected examples from the Nigeria’s fraud case file with the view of ascertaining the impact of these legislations in the achievement of zero – tolerance fraud in Nigeria. The paper reveals that corruption has eaten so deep into the fabric of the society and the battle against corruption being prosecuted by men who are not morally qualified to lead the crusade. The anti-corruption agencies are only allowed to operate within visible boundaries imposed by the government of the day. The paper concludes that corruption has an inherent capacity within its operational framework that sustains it and gives it life in perpetuity; anti-corruption laws and agencies have not been allowed to take their cause as a result of deeply rooted socio-economic collapse of the system. As a result, the paper recommended a mechanism for the eradication and transformation of the culture and legacy of corruption; the establishment of a National Integrity System and a national value re-orientation program; and the reinforcement of the legal and regulatory framewor

Effect of Money Supply on the Stock Market Returns in Nigeria

¹CHUDE, N.P. AND ²CHUDE D.I.

¹Department of Banking and Finance, Anambra State University, Igbariam Campus

²Department of Accountancy, Anambra State University, Igbariam Campus.

E-mail: nkypat8@yahoo.com

ABSTRACT

The relationship between broad money supply (M₂) and stock market returns in Nigeria has been a great concern in any economy. Capital market is the part of the financial market that provides facilities for transfer of medium and long-term funds to various economic units. The aim of this study is to investigate the effect of broad money supply on the stock market returns in Nigeria. Stationary test, co-integration test and error correction model were used as a model. It was discovered that there is long run relationship between broad money supply and stock market returns in Nigeria and that broad money supply has been relatively high over the years and has significant positive impact on the stock market returns in Nigeria. The study recommended that Government should provide policies that will encourage broad money supply and also provide incentives to the various multinational corporations in oil and gas as well as telecommunication industry to list their shares towards enhancing the all share index. This will enhance the contribution of the capital market to the economic growth of the country’s economy.

Challenge of Risk Management in Nigerian Banks in the Post Consolidation Era

IBRAHIM SAMSON

Department of Marketing

Federal Polytechnic, Idah, Kogi State, Nigeria

E-mail: samsonibrahim44@yahoo.com

ABSTRACT

Many empirical literature showed several attempts at explaining and measuring risk-taking behaviour in banks to incentives created by safety net programmes such as the fixed-rate deposit insurance system which though arguably, engenders cross-subsidization by creating avenues to take on risk insufficiently; the so-called moral hazard problem. The moral hazard view of risk taking in banks assumes that shareholders make the lending and investment decisions and therefore take a risk to maximize the value at Insurance it they so desire. The foregoing discussion becomes even more imperative with the on-going reforms in the Nigerian-banking industry. This-paper attempts to-provide an-overview-of risk management practices in insured banks in Nigeria. As we are now in the post consolidation era, consistent with the efficiency argument of a market economy, the need to foster healthy competition amongst fewer, mega banks becomes pertinent. Amongst the host of risks envisaged, those risks considered most important are Identified, and their management and mitigating factors are analyzed. The risks relating to mergers and acquisitions (M & As) were also mentioned. The study employed trend analysis at variables to derive its results arid concluded by pointing to some steps that would help to preserve the banking system and sustain its impact on our fragile economy.

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.