ACCOUNTING STRATEGY

Accounting strategy

ABSTRACT PAGE LOADING

INTRODUCTION

 Statement of the problem

Nigerian politicians face many problems in rendering their political stewardship in the country. These could be summarized as follows:

 

Political and economic instability: The political and economic instability in Nigerian political system had led to absence of planning that has slowed down economic growth and development. The instability, according to

Owojori (2006) is evidenced in four civilian Republics that were sandwiched with eight military regimes in Nigeria.

 

Constitutional framework: The absence of a stable constitution was also a significant factor to the problem of revenue allocation in Nigeria. In a country where there is no permanent legal structure, the political field was opened only to money-bag heavy weights that decide whatever they wish.

 

Financial weakness: Since most of the physical units were created without a guided political and economic philosophy, they are financially very weak to stand on their own. This led to sharing of the proceeds of the federation.

 

Insincerity: The insincerity on the part of the judiciary, legislature and the executive arms of government to address the problem of revenue sharing led to the destruction of the various structures put in place by the preceding regimes and governments.

 

Qualified personnel problems: At times, qualified personnel is not employed or chosen to man the government work for effective and efficient job performances. It is not uncommon to appoint someone who is not finance or accounting person to be the head of finance and budget or the minister of finance.

 

Lack of political objectives: The politicians always forget their political objectives and promises in their manifestoes the moment they were voted in as power corrupts absolute and absolute power corrupts absolutely.

The purpose of this paper therefore is to analyze the importance of political stewardship accounting in government parastatals in Nigeria and the causes of mismanagement in government sector in general as well as proffering plausible suggestions and recommendations for sustainable good governance.

The following null hypotheses, which were tested at 0.05 level of significance, were formulated: (1) Stewardship accounting does not bring about good governance by the politicians as a result of their inability to remit or or give proper account of the funds entrusted to them; (2)

There is no relationship between statement of income and expenditure: The statement of income is not regarded as the management expenses to generate a given level of income; (3) The task of making life worth living for people at the grass-root is not an easy task because of over increasing demand for all sorts of welfare packages, and (4) Political stewardship accounting is not the sole determinant responsible for increase in good governance and at times it causes political imbroglios among the politicians in the country.

 

 

RESEARCH DESIGN AND METHODOLOGY

The population comprised of four hundred (400) key officers in the (16) sixteen local governments of Ekiti State of Nigeria out of which (100) hundred were selected at random. The data used were gathered through questionnaire and were analyzed using frequency counts, percentage scores and factor analysis.

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