Accounting Information as a Management Tool to National Development Services in Nigeria

International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue XI, November 2020 | ISSN 2321–2705

Accounting Information as a Management Tool to National Development Services in Nigeria

Odaumiebi Ouserigha¹, Alhassan Odiniya Innocent², Nwogbo Chimezie Rose³, Adjekughele Eyere Harriet^4
1Department of Accounting, Federal Polytechnic, Ekowe, Bayelsa state, Nigeria
^2,3,4Federal Polytechnic Ekowe, Bayelsa State, Nigeria

ABSTRACT
Accounting information is an indispensable management tool to national development services in Nigeria. Accounting plays a major role in the sustenance of economic viability, political stability and social harmony in any given state or nation. The reason for this obvious fact regarding our national development is not farfetched considering the enormous multi-sectoral dimension of Nigerian economic activities both in the public and private sectors. Sound and accurate accounting information are ingredients to national government decisions to national development. The main thrust of this paper is to survey the significant role of accounting information system to national development services with the ultimate aim to ascertain whether economic transactions of the nation are properly recorded and kept as accounting reports to make such national decisions. The study is focused on the information gathered and collected from both primary and secondary sources. The sample of the study is made from selected national offices in Bayelsa capital city of Yenagoa. Data analysis for the study was done using frequency percentage and chi-square via SPSS-Statistical Package for social sciences. Findings of the study revealed that accounting information system has been playing an indispensable and key role in making decisions in such national issues. It is thus concluded that accounting information is of great paramount importance to national development services. The researcher therefore recommended that the national/federal government should continue to properly keep accounting books and implement accounting information/reports at regular intervals.
Key words: Accounting, Accounting Information, Accounting books, national accounting system

INTRODUCTION

Accounting information is therefore, an indispensable tool for decision making in national development, not only that but both in personal and business affairs. In fact, the need for accounting information cannot be overemphasized. One of the coherent challenges in national development is lack of adequate keeping and implementing accurate accounting records. Many people think that accounting not as a management tool for the day-to-day use but as accumulation of data for eventual use in auditing and preparation of balance sheet (Walter, 2000). Warren and Fess (1986) posit that accounting plays an essential role in the economic and social system of a country.

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