ABSTRACT
Most critics hold that there are paucity of accounting records maintained by co-operative societies.This study therefore investigate the level and the adequacy of accounting records of co-operative societies. To determine this, the fundamental objective of the study among others are.
1. To identify and disclose whether adequate accounting records are kept by co-operative societies.
2. To determine the impact of the present level of accounting record’s on profitability and viability of co-operative societies.
The entire cooperative societies in Enugu North local government area (Registered) was the study population from which 98 was selected. A set of structured questionnaire was administered to the sample out of which 72 responded. Oral interview were also used to collect useful data and information which could not have been portrayed by the questionnaire. The collected data were classified, analysed and interpreted by the use of tables, percentage, product moment of correlation and chi-square (test of goodness of fit) was used in testing the hypothesis.
From the analysis of data the major findings are that.
a. Co-operative societies do not really maintain adequate accounting system.
b. There is weakness in the internal control system of co-operative societies.
c. Co-operative societies make use of their members as their accounting staff usually the secretary.
d. Most co-operative societies do not company with the established accounting standards.
e. The present level of accounting records in co-operative societies affect the profitability and viability of co-operative societies.
Based on the findings some of these recommendation were made.
i. Co-operative societies should employ experienced competent and trained accounting staff to improve their accounting system.
ii. The accounts of co-operative societies should be audited by external auditors like corporate organization.
iii. The management of co-operative societies (committee) should receive management training and also every member of the co-operative should be educated.
PROPOSAL
The growing complexities and challenges of the global co-operative societies has in recent times increased like wilel fire. The queve which is almost a culture in the country, fraudulent activities etc there, the need now arises on how these problems can be solved. The research work is designed to analyse the role of co-operative societies and operational performance in local government areas reference to Enugu North. It also helps other people to know the full meaning of co-operative societies in Nigeria and what they should achieved on it. Before forming co-operative society they will make sure that they investigate the level of adequacy of accounting records of co-operative societies. It will heep them to know that they should tried to keep adequate accounting records of books and also to determine the impact of the present level of accounting records on profitability and viability of co-operative societies.
An oral interview is used to collect useful data and information which could not have been portrayed by the questionnaire. Form the analysis of data my major finding is that co-operative societies do not really maintain adequate accounting system; also that co-operative societies make use of their members as their accounting staff usually the secretary finally that most co-operative societies do not comply with the established accounting standards.
TABLE OF CONTENTS
Title page ii
Approval iii
Dedication iv
Acknowledgement v
Abstract vi
Proposal viii
Table of contents ix
CHAPTER ONE
INTRODUCTION 1
1.1 Background of study 1
1.2 Statement of problems 2
1.3 The objective of the study 2
1.4 Research hypothesis 3
1.5 Significance of the study 4
1.6 Scope and limitation of the study 5
1.7 Definition of terms 6
LITERATURE REVIEW 9
2.1 Definition of Accounting 10
2.2 Objectives and importance of accounting information 12
2.3 Importance of accounting 14
2.4 Definition and meaning of accounting system/composition of system. 17
2.5 Accounting system. 18
2.6 Importance of maintaining adequate accounting system 23
2.7 Definition and meaning of co-operative societies 26
2.8 Origin of co-operative society in Nigeria. 30
2.9 Problems of co-operative societies 32
RESEARCH METHODOLOGY 34
3.1 Sources of data 34
3.2 Sample use and determination of sample size 35
3.3 Method of investigation 36
4.1 Presentation and analysis of data 37
4.2 Data analysis 37
4.3 Test of hypothesis 48
5.1 Findings 57
5.2 Conclusion 59
5.3 Recommendations 60
Bibliography 62
Questionnaire 64
