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PROJECT TOPIC: IMPROVING THE EFFECTIVENESS OF ACCOUNTING SYSTEM IN PRODUCTION INDUSTRIES IN NIGERIA

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CHAPTER ONE

INTRODUCTION

Te pre requisite for development scientific advancement and adequate management of any business organization is good information system. It is vary important to note that inadequate information in any production industry can influence its activities. A highly productive and organized industry will ensure that the business continues in existence by providing adequate information system. An accounting system consists of the personnel procedures devices and records used by an organization to develop accounting information and to communicate this information to decision makers. The design and capabilities of these systems vary greatly from one organization to the other. In very small business the    accounting system may consist of little more  than a cash register check book and an annual book to an income tax payer. But in large business like production industries an accounting system includes computers, highly trained personnel and accounting reports which affect the daily operations of every department. The basic purpose of the accounting system in business establishment is to meet the organization need for accounting information information as efficiently and effectively as possible it is therefore important that every business including production industries with much emphasis on Paterson Zucchinis Aba be evaluated to know if there is proper accounting system or if there is more. Paterson zochonis since inception has made huge success both in the past and present. Although during the first word war they were faced with a square test as young as they were  then but as a result of their royal and commited team of employees the business survived. This research work objective is delving into the utilization of fund and the general accounting and financial control system of production industries with a view of improving the effectiveness of their accounting system of an industry.

1.       The appraisal of the performance of Paterson zochonis industries Plc (pz) and to determiner the use of its accounting and financial control measures

Evaluation of the information provided by the accepting system as they are useful for decision making. The evaluation of the information system with the view to identify the sources and measure for investment in thee industry.

BRIEF HISTORY OF PZ INDUSTRIES PLC

The story began in the early 1870, a period many enterprising Europeans started their  adventure into  the west coast of Africa. George H. Paterson, a high hard Scot and George is zochonis a Greek worked together in the wholesaler ship of small trading company fisher and Randale art scoans Bay free town  a sierra Leone. So after their meeting a strong friendship developed between these two people out of shared interest and ambition come to lime light when they set up a trading post of their own. Its official name was simply Paterson zochonis,”

STATEMENT OF THE PROBLEM

 

A significant proportion of any company yearly budget allocation is being brought into the development and improvement of the company objective. The main objective or aim of any organization is profit making. It is wise to say that these production industries are established for profit making. Quite a number of people has seen the ineffectiveness and down fall in the activities of some production industries this may arise as a result of poor management inadequate manpower lack of qualified employees or inadequate funding. Meanwhile much had been said  about encouragement of product spending and methods of accounting for the income of these production industries. This research is of the view that the problem is that of interest organization of these production industries, this must have much  to do with computer operation, accounting system producers and control in line  with this, the study will dwell on improving the effectiveness of accounting system and control of Paterson zochonis industries plc Aba.

PURPOSE OF THE STUDY

Based on the background of study and statement of the problem given above the major objective of this Study will be built around the following. To evaluate the accounting and financial control measure of p.z plc. To analyze the information provided by the accounting system according to their usefulness for decision making that improves the operational efficiency To evaluate the financial system with the view to identify the sources of measures for investment to meet the increasing need to replace obsolute equipment to meet technological innovated and to examine its effect on financial and budget allocation of the industry.



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