THE EVALUATION OF ACCOUNTING SYSTEM IN THE OIL INDUSTRIES

THE EVALUATION OF ACCOUNTING SYSTEM IN THE OIL INDUSTRIES (A CASE STUDY OF NIGERIA NATIONAL PETROLEUM COMPANY ILORIN)

TABLE OF CONTENTS

CHAPTER ONE

1. Introduction
   1. Background of the study
   2. Objective of the study
   3. Scope of the study
   4. Research hypothesis
   5. Significance of the study
   6. Delimitation of the study
   7. Definition of major terms

CHAPTER TWO

• Review of related literature
  • Accounting defined
  • Accounting as an information system
  • Parties interested in the accounting information
  • Qualities of ideal accounting information
  • The nature and types of financial accounting convention
  • Accounting concept and convention

CHAPTER THREE

• Research method
  • Research design
  • Population
  • Sample and sampling technique
  • Research instrument
  • Validity of the instrument
  • Administration of the instrument
  • Data analysis procedure

CHAPTER FOUR

• Data presentation and analysis
  • Data presentation
  • Data analysis
  • Findings

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

• Summary
  • Conclusion
  • Recommendation

References

Questionnaire

CHAPTER ONE

1.0   INTRODUCTION

1.1   BACKGROUND OF THE STUDY

The importance of accounting cannot be over emphasize for accounting is needed at the birth of an organization during the life time of the organization and at the death of the organization (i.e. winding up). Accounting can be described as the mid-wife and of the company at birth, guardian during life time and successor of the death.

Changing social attitude combine with developments in information technology, quantitative method and behavioral sciences to affect radically the environment with accounting operates today, hereby creating the need to re-evaluate the objective of accounting in a under perspective.

Accounting is moving away from its traditional procedural base, encompassing record keeping and such related work as the presentation of budgets and final accounts, towards the adoption of a rob which emphasizes its social importance, the changing environments have extended the boundaries of accounting  and have created a problem of  defining the scope of the subject. There is need for a definition which is broad enough to deliberate it boundaries, while sufficiently precise as a statement of its essential nature. A more recent definition which his less rest native in interpreting accounting  as “the process of trying measuring and communicating economic information to permit informed judgments and decide by the users of instruction system is a set of element by the which operate together in order to obtain a goal”

Accounting system could be said to be universal in outlook, it is worthy to note that what actively universal are the underlying basic concepts of accounting as usually regulated by such instruments as the international accounting standards (IAS). Statement of standard accounting practice (SSAP) etc. These instrument are always in the particularly to final account as made available to the public. International accounting system differ from nation to nation, sector to sector and organization.

This project therefore is to study and peculiars of accounting system being operated in the oil industry with special reference to chevron Nigeria limited.

1.2   STATEMENT OF THE PROBLEM

        Roy sidebothan (2005) said “the act of accounting has an economics setting. It is expected to add to that knowledge who engages in commercial and financial interaction. To construct general notion about accounting, it is therefore necessary to draw on knowledge of the ways in which people act individually and collectively, in economic matters”.

        However, poorly or well it might be done, it must serve some functions. If the functions can be ascertained and specified it will be possible to deduce the form which accounting should takes and if the deal from of accounting can be stated it should be possible to judge whether or not any present practice yield information’s will serve the stipulated functions and in what direction improvements may made”.

        Generally, the accounting problems confronting all industries are numerous and very with difference organization. The underlisted factors can be responsible for the analyzed problems of efficiency, problem of effectiveness, problem of comprehensiveness, etc. The above mentioned problems have some re-tardetive effects on the organization drive towards acting its organization goals and objectives.

        The research work is no accounting system as it concerns oil industry this time was chosen because of the researcher’s interest in knowing more about the accounting system in oil industry as compared to other industries in Nigeria.

 After serving under the student industrial working experience scheme (SIWES) at the Chevron Nigeria Limited, the author have been nursing the ideal that one day the researcher will have opportunity to conduct an intensive research into the accounting system of the establishment (Cheviron Nigeria Limited). There would be no better opportunity to make this “dream’ comes true.