THE ROLE OF ACCOUNTING IN SOCIETAL DEVELOPMENT IN THE NIGERIA CONTEXT
ABSTRACT
From a realistic viewpoint, the research work lug lights the importance of accounting profession in the societal development (private and public institution inclusive) and some of the problems which an accountant may encounter while performing his role as a professional.
The performance of these activities by an accountant and the role plays in societal development has made accounting  the concern of the society and the entire business world. It is sometimes said that accounting is the adjunct of business because it employed to supply financial information to individuals and organisation. Accounting profession could be defined in relation to problem it addresses in the society such as taxation problems, sales stratifies urban congestio, computer technology etc. The accounting profession is not only for the society in that it has managerial and social responsibility to shoulder in case of serving the public.
The project is divided into five chapter as follows:
a.             Chapter one deals with introduction, statement of the problems, objective, significance of the study, scope, limitation and delimitation of the study.
b.            Chapter two deals with the review of related literature, definition of accounting, the necessity for societal development and the role of accounting in the societal development.
c.             Chapter three discusses the research design which includes the area of study, types of data used and location details
d.            Chapter deals with the analysis of findings based on the data collected it evaluates and discussed the findings.
e.             Chapter five deals with the findings, recommendation and conclusion made by the researcher.
TABLE OF CONTENTS
CHAPTER ONE           
1.0              Introduction                                       
1.1              Statement of problem                                    
1.2              Purpose of the study                                      
1.3              Significance of the study                                           
1.4              Statement of hypothesis                    
1.5              Scope of the study                                                     
1.6              Limitation of the study                                              
CHAPTER TWO
2.0              REVIEW OF RELATED LITERATURE               
2.1              Definition of accounting                                                        
2.2              Historical Development of Accounting                     
2.3              Purpose of Accounting                                  
2.4              Users of Accounting Information                              
2.5                    Accounting Activities and Accounting officers
2.6              Probity and Accountability –
A necessity for societal Development                                   
2.7              The Role of Accounting in societal Development
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1              Research Design                                                        
3.2              Area of study                                                 
3.3              Method of Investigation                                                        
CHAPTER FOUR
4.0              Data Presentation                               
4.1              Test of Hypothesis                                         
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1              Finding                                                                       
5.2              Conclusion                                                                 
5.3              Recommendation                                           
BIBLIOGRAPHY                                                                
APPENDIX: QUESTIONNAIRE               
CHAPTER ONE
INTRODUCTION
This project is aimed at looking into the accounting profession in detail and examinng its role in societal development.
A study of the evolution of accounting suggests that  accounting processes are reactive because they have developed primarily in response   to business needs. Also the development of accounting process has been related to economic progress and societal development of a country.
History shows that the higher the level of civilization or development of a country the more elaborate and wider the accounting method becomes.
Since picolis days to this presents, accounting has recorded a lot of tremendous changes and growth all over the universe. For instance during the first sixty years of the twenteeth century, a major economic and social force had thrown the accounting profession into new frontiers and responsibilities. The factors contributing to this growth are the increase in the population of large corporate business (both in size and complexity). Government influence in the affairs of business by way of taxation and business regulations, technological advancement especially in the area of computerization, which has rapidly changed the process of data processing. These factors, to a great extent, have deeply contributed to the development  of the accounting profession over the years. The role of computer n accounting profession has facilitated the traditional functions such as payroll, cost accounting and general bookkeeping. It is also being used for analytical purpose such as forecasting, cost benefit, analysis etc.
As professionals, accountants are expected to demonstrate a responsibility to the public services above their commitment to personal economic gains.
Accountants recognize that the special esteem they enjoy obligates them to work for the improvement of the society. Complementing their obligations to the society.
Accountants have analytical and evaluative skills needed in the solution of the over growing problems of the universe. The special abilities of  accountant as well as their independence and ethical standards permits them to make significance and  unique contribution in such areas as protecting the public interest, preserving environment interest and controlling and improving public programmers.
In recent times, the works of accountant increased in scope. The new areas added to the account
In profession include installation of accounting system, auditing and investigation, management of social activites host of others. It is also of importance to note that the increase in the scope of accounting gave rise to complex problems, which accountants must encounter. This is why competent accountants are needed. In the various areas (i.e to ease the accounting problems facing the management of companies and the society in general).
Apart from providing accountant an information, he also gives his opinion on a wide range of representations such as sales statistics, lease agreement etc. for the fact that, accounting is not only for the good of the individual accountants have to be conscious of the society’s benefit. This is because social responsibility and service to the public is the major objective of the accounting profession.
Thus there is the need for the accountant to develop a social attitude towards their profession. Recall that the accountant is duty bound to exercise his duties with reasonable care, skill and diligence. He must offer his integrity and reputation to the public which relies on his judgement and opinion.
1.1              STATEMENT OF THE PROBLEM
The accounting profession is faced with ‘teething’ problem some of which include:
i.                    Professional abuse and indiscipline: This is where an accountant (for instance) fails to keep to the ethics of the accounting profession.
The accountant here forgets that  he owes a fucticiary responsibility to his clients and the public in general. Cases of this comes up where accountants encourage their clients to avoid paying the tax they should by intentionally declaring a huge operating loss for tax purposes where the client actually made profit during the basis period of assessment. The false declaration does not only obtain loans from financial institutions, accountants falsely declare very high profits worder to enhance their clients opportunity of obtaining loan.        
ii.                  Imposition by management and top Government officials
Often times, accountants are reduced to the level of mere paper tigers. They can only bark but cannot bite. They are threatened by these officials not to disclose frauds committed by the said officials. Failure to keep to such an injunction may lead to disengagement of the accountant’s duties (or even death). As a result, accountants keep  closed eyes on such situations.
iii.                                        Inadequate Internal Control System: Failure to install and implement an adequate internal control system hampers effective auditing. This is because there are no prper checks and balances established to curb the excesses of the management and staff of an organisation.
iv.                                        Inadequate Method of Data Processing Nigeria is still with the problem of the manual system of recording and processing financial data into usable information. This system as we know, is very tedious and prone to error(s). The computer till age date is still out of the reach of many organisation (especially the small scale businesses) due to its exorbitant cash outlay. If this were to be made available to interestered buyers at subsidized amounts, the headache associated with the manual system of operation will be reduced to the barest minimum.
v.                                          The Institute of Chartered Accountants of Nigeria  This body is among the problems to reckon with so long as the accounting profession is concerned. Many a time, graduate accountants are denied jobs because they do not have a certificate to show that they are members of this body. In recent temes. It now seems as if it would be easier for a camel to pass through the eye of a needle than for student to pass the ICAN  exams. As a matter of fact, persons who though charatered in some other  countries but some how found themselves in Nigeria, are not recongonised as professional accountants until they charter with ICAN.
This are problems (among many others) that the researcher can mention. These and other similar problems cannot be solved without a research of this mind. Hence in the study the researcher can mention it; These and other familiar problem.
1.2 PURPOSE OF THE STUDY
In view of the purpose of accounting and how it affects the society generally, this study is designed to achieve the following objectives:
i.                    Identify the users of accounting information
ii.                  Highlight the importance of accounting information to its various users.
iii.                Highlighter the role played by accountants towards providing accounting information to itsusers.
iv.                The contributions of the accounting information towards societal development.
1.3 SIGNIFICANCE OF THE STUDY
It is hoped that this study when completed will
i.                    Be able to educate the management of forms on how important it is to tailor their accounting information requirements in such a way that they can take decisions which will help maximize the objective(s) of the business.
ii.                  Provide prospective employees with information that will enable them look out for companies that can offer them safe employment through growth over the period of time.
iii.                Be able to educate shareholders (prospective ones inclusive) on how to watch out for profit able and viable firms in which  to invest their capital;
iv.                Equip trade unionists with methods of calculating the claims for higher wages and better conditions for labour;
v.                  Provide creditors with the acid test with which to know if a perspective doctor can keep to the terms of credit;
vi.                Assist the government and its agencies on effective revenue generation and allocation.
vii.              Help consumers to use accounting data asses the  viability of a company (with respect to long term contracts);
viii.            Sensitive competitors towards using accounting information for purposes of comparison;
ix.                Being accountants to remembrance in respect to their roles in societal development.
STATEMENT OF HYPOTHESIS
With regard to the problems identified above as well as the objectives of the study, the researcher has these positions to make:
Hypothesis one
Ho: Accounting information is not important its users.
H1: Accounting information is important to users.
Hypothesis Two
Ho: Nigeria accounts have been participating in societal development
H1: Nigerian accountants have been participating in societal development.
Hypothesis Three
Ho: Accounting information is insignificant to societal development.
H1: Accounting information is  insignificant to societal development.
Hypothesis Four
Ho: Adequate internal control, system is note necessary in the provision of accounting information.
Hi: Adequate internal control, system is note necessary  for reliable  accounting information.
1.6 DEFINITION OF TERMS
Bank distress:
This is a state of being in difficulty by a Bank as a result of lack of money.
Budget:
A plan expressed in financial terms, which covers a period, usually one year and contains the economic income and expenditure of an organisation within the period as well as policy to be pursued during the period for the attainment of the set standard.
Client:
A company or individual which an accountants owes a professional dusty to render a special service, which is under a contract term for a period.
Computer:
An electronic data processing device used to facilitate data processing and its storage for use when needed.
Internal Control:
The whole system of control, financial and otherwise, established by management to carry on business of the enterprise, in an efficient and orderly manner, to ensure adherence to management policies, safeguard the asset and secure as far as possible the completeness and accuracy of the records.