The effect of financial accounting reporting on the management of a business Department: Accountancy By: samadchuks Project ID: 4614 Rating: (3.6) votes: 7Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractEffort is made to access the effect of formal accounting reporting on the management of a business. Financial accounting covers those activities related to the preparation of certain reports which are known as financial statements. These statements report the financial status of a firm at a particular time. the firm’s activities and resulting profit/losses during the most recent period and the flow of resources occurring within the firm during the same period. I draw my research from the work of many authors. Such work has done have included textbooks in all forms, magazines and encyclopedias. Apart from extensive use of literature, other methods of research include (a) interviews with businessmen (b) questionnaires have been designed and distributed to some businessmen (especially at trade fair). The questionnaires have been designed for officers in management cadre in public and private companies, shareholders, staff, partners and owners in a sole proprietorship. In the analysis of the data collected, the chi-square was used to analyze the responses gathered. The study revealed that a lot of problems were inherent in financial reporting ranging from non-disclosure of vital information and most times non-compliance to relevant statutes or principles that are essential in preparing financial statements. There were recommendations given such as management should be aimed at profit optimization in order to keep the business going. And management should ensure disclosure of vital information in the financial statement. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Auditing in Nigeria companies, problems and prospects»The effects of computerized accounting system on the performance of banking industry in Nigeria»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»Effect of misrepresentation of information in a financial statement»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )