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TABLE OF CONTENT
Table of contents v
1.1 Background of the Problem 1
1.2 Statement of the Study 3
1.3 The Purpose of the Study 5
1.4 Significance of the Study 6
1.5 Scope of the Study 6
1.6 Research Hypothesis 6
1.7 Definition of Terms 7
1.8 Plan of the Study 8
2.0 Literature Review 10
2.1 Definition and Scope of Accounting 11
2.2 Business Accounting 13
2.3 Scope of Accounting 15
2.4 Function of Accounting in Business 20
2.5 Accounting Information System 22
2.6 The Usefulness of Accounting
Information System, in Public Corporation 30
3.0 Research Methodology 32
3.1 Historical Background of the Corporation 32
3.2 Sources of Data 41
3.3 Population and Sampling Description 42
3.4 Method of Data Analysis 42
3.5 Limitation of the Study 42
4.0 Data Analysis and Interpretation 44
4.1 Presentation of Data 44
4.2 Data Analysis 49
4.3 Discussion of Findings 52
5.0 Summary, Conclusion and Recommendation 54
5 1 Summary 54
5.2 Conclusion 54
5.3 Recommendation 56
1.1 BACKGROUND OF THE STUDY
Public corporation can be defined as the types of business organization that are established by a special act (or ordinance) of the parliament. Public corporations and business owned and financed by the federal, state and local government, as the case may be in the public interest.
They can be explained and described also as the type of business) organization thoroughly and solidly established by act of parliament to provide public utilities. This participation in the productive and commercial part of a country’s economy.
There are some areas in the economy where it is felt that the free enterprises system and private sector competition should not allowed, as they would exploit the public such as should be run by the government in the pubic interest. Therefore, in Nigeria, where there is a three-tier system of government; The local government, state government and the federal government do run certain enterprise so as to provide essential service for the people.
It was learnt that markets who where programmed to load NNPC products in tankers from Ibadan, ore and Ilorin depot were referred to NIPCO plc and other private depot in apapa, which have through put agreement with the corporation.
Also between Ibadan and Ilorin, there was a total of 122 beak point.
A pipeline fire cause by vandals at arepo in ogun state in September had disrupted the distribution of products in system 2B, which distributes about 12million liters of petrol daily in the south west.
However, the NNPC at the weekend said it had restored the ije-ododo pipeline to normally and that pumping or petrol had also resumed in earnest to the depot in the system 2B, spanning from altlas-cove to Ilorin.
About 60 per cost of petroleum product, imported by the NNPC is discharged through the system 2B and pumped to the fire depot to ease pressure of tankers on the private depot at apapa.
Data made available by the NNPC showed that the pipeline between atlas cove and Ilorin depot was vandalized on over 774 point.
1.2 STATEMENT OF PROBLEM
The statement of this study in the use of accounting information in public corporation, NNPC as a case study considering the behavior relationship the uses of accounting information in public corporation.
The independent petroleum markets association of Nigeria, (IPMAN) has commended the management of the Nigerian national petroleum cooperation (NNPC) and its downstream and marketing subsidiaries, the pipeline and products marketing company (PPMC) for the comprehensive rehabilitation of pipeline and depots under the system 2B pipeline which services the southwest geopolitical zone of the country and the Ilorin axis.
The acting group general manager group public affairs of the division of NNPC, tumini green, who disclosed this in a statement made available to journalist stated that IPMAN appreciation was conveyed to the cooperation in a letter jointly signed by its western zonal secretary, Dr. .A. .O. idowu and the chairman of mosimi, Ibadan, ore, satellite and Ilorin depots.
1.3 THE PURPOSE OF THE STUDY
The purpose of the study was to examine how useful accounting information is in public corporation.
1.4 SIGNIFICANT OF THE STUDY
This study is deducted; the result could help the management and board of directors to show its stewardship and Accountability in the operational activities of their workers.
1.5 SCOPE OF THE STUDY
According to the termilogy of the institute of cost and management accountability budgeting is a plan, qualified in monetary terms, prepared and proved prior to defined period of time, usually to attain a given objectives.
1.6 RESEARCH HYPOTHESIS
Its discuss important considerations in the development of NNPC (Ilorin) and hypothesis in defining objectives for research. The significant of constructing a good research question and developing hypothesis for the successful design of a research study.
The presence of a number of research question will affects and potentially increase the complexity of both the study design and subsequent analysis.
1.7 DEFINITION OF TERM
OBJECTIVE OF BUDGETARY CONTROL
The objectives of budgetary control are to:
iii. Show management when action is needed to remedy a situation.
1.8 PLAN OF THE STUDY
The plan by the Nigerian national petroleum cooperation (NNPC) to reopen Ilorin depot during the weekend was shelved due to widespread concern over the integrity of the pipeline.
Nigerian nation petroleum cooperation (NNPC) reopened the atlas cove depot products through NNPC pipeline network to Ibadan and Ilorin depot.
The day however gathered that the NNPC was yet to pump fuel to three depots following concern that the pipeline may have been perforated by vandalize.
This day gathered that with this development, tankers from most part of the west and some Part of the east that should have loaded NNPC Products from Ibadan to Ilorin Were Still coming into lift product. From private depots that store product for the cooperation.
The two vessels were imported by the NNPC as part of the effort to bridge the supply gap in the industry (NNPC) Nigerian national petroleum cooperation.
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