UNLOCKING SUB-SAHARA AFRICAN POTENTIALS FOR SUSTAINABLE DEVELOPMENT IN THE 21st CENTURY.
DATE: JULY 10TH – 11TH, 2014.
M.L. AUDU AUDITORIUM, FEDERAL POLYTECHNIC BAUCHI, BAUCHI STATE, NIGERIA.
PROCEEDINGS (Vol. 2 No. 5):
ACCOUNTING INFORMATION AS A TOOL FOR SUSTAINABLE DEVELOPMENT OF ENTERPRISES
USMAN MOHAMMED BATURE
Federal Polytechnic, Bauchi School of Business Studies Department of Accountancy
The primary role of accounting is to provide useful information for the decision making needs of investors, lenders, owners, managers and others both inside and outside an enterprises. Since the aim of any enterprise is to make profit then accounting information is indispensable to achieving this goal. The objective of the paper is to look at how accounting information will bring about sustainable development to business enterprises, data for this research was obtained from secondary sources. The result of the finding were presented in a narrative form. It was discovered that most enterprises in Nigeria do not keep proper accounting record and even those that keep do not know the importance of accounting information. It is therefore, recommended that government should make it compulsory for all enterprises to present accounting information( financial statement) as a pre-requisite for accessing loan facilities.
Keyword: Accounting information, Sustainable development, Decision making, Enterprises.
AN ASSESSMENT OF THE RELEVANCE VALUE ADDED TAX (VAT) AS A SOURCE OF NON-OIL REVENUE IN NIGERIA.
Idrith Ahmad Yusuf, and Shehu Umar Sa’id.
Department of Accountancy Federal polytechnic Bauchi.
The over dependence on the oil revenue by the Nigeria government is worried some, considering the continue decline in the oil revenue in the late 2013 and early 2014and the fact that oil reservoirs will definitely one day dry off. One of the possible sources of non- oil revenue as suggested by world Bank and International Monetary Fund (IMF) is Value Added Tax (VAT), Nigeria government adopted Value Added Tax since 1994. The objective of the study is to assess the relevance of Value-Added-Tax as a sources of revenue for National development in Nigeria. To realize this, the paper largely utilized secondary data which were complemented by the researchers, personal observation and analysis of Annual Report and Statement of Account of Central Bank of Nigeria(CBN) as well as CBN Statistical Bulletin. The major finding of the study was that Value-Added Tax (VAT) as a Fiscal Policy was the first of its kind to achieve its objective by increase in the generated amount recorded as alternative revenue. To this end, the paper recommends that adequate planning, staff training and welfare as well as computerization of the VAT system should be given more attention in order to boost the VAT collection.
Keyword: VAT, Non-Oil Revenue, Fiscal Policy, Government Revenue Services
AN EVALUATION OF THE ROLE OF ACCOUNTING INFORMATION TO THE SUSTAINABLE DEVELOPMENT OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
Federal Polytechnic, Bauchi Department Of Accountancy School Of Business Studies.
Small and medium scale enterprises are becoming generally acceptable as viable drivers of economic growth. However, many of these enterprises fail without fulfilling expectation due to poor management of resources and adequate accounting information. This paper therefore, evaluates the role of accounting information to the sustainable economic development of these enterprises. Data for this research was obtained from secondary sources. Results of the finding were presented in narrative form. It was discovered that most of the owners and operators of small and medium scale enterprises do not have the requisite accounting knowledge required to enhance the sustainable development of their businesses. It is recommended that small and medium enterprises should access the services of an accountant to be able to establish dependable accounting system for sustainable development. Quality accounting information will enhance SME’S financial management as well as accessibility to finances.
KEYWORDS: Accounting information, sustainable development, small and medium scale enterprises- Nigeria.
ASSESSING THE COST OF SECURITY CHALLENGES AND SOCIO-POLITICAL AND ECONOMIC DEVELOPMENT EVIDENCE FROM NIGERIAN CAPITAL MARKET
Yusuf Ova Mutalib, Rakiya Abba2 , Usman I. Zwal3 &Yahaya Muhammad Adamu4
Department Accountancy1, Banking2&3 & Business Administration and Mangement
School of Business, Federal Polytechnic Bauchi
The objective of this study was to empirically analyze the effect insecurity on the Nigerian capital market, her socio-economic and political development. Nation state of Nigeria has been grip by ethno-religious conflicts traced to Boko Haram(BH) insurgency which started in July 2009 in the Northern states of Nigeria. The socio-economic development was proxy by the gross domestic product (GDP) while the capital market variables considered included market capitalization, total new issues, volume of transaction and total listed equities and Government stock. Using the ordinary least square it was found that the capital market indices have not impact significantly on the GDP during insurgency currently faced. Secondary data was used in the study largely due to the nature of the research problem. The result of the investigation reveals that the security challenges in Nigeria have long historical antecedence traceable to bad governance and failure of successive administrations in Nigeria to address challenges such as poverty, unemployment and inequitable distribution of wealth among ethnic nationalities, ultimately resulted to anger, agitation and violent crimes against the Nigerian state by some individuals and groups. Such crimes include militancy, kidnapping, bombing, armed robbery, vandalisation of government properties, among others. The government is therefore advised to put up measures combat the insurgency, stem up investors’ confidence and activities in the market so that it could contribute significantly to the Nigerian socio-economic development.
Key Words: Capital Market, Security, Challenges, Policy, Economy, Political, Social, Economic and development
ASSESSING THE IMPACT OF ENTREPRENEUR’S LENGTH TIME IN OPERATION ON THE PERFORMANCE OF SMALL BUSINESS ENTERPRISES IN BAUCHI STATE.
Abubakar Tatari Ali Polytechnic, (SMS) Bauchi, Bauchi State.
The aim of the study is to assess whether there is a relationship between entrepreneurs length time in operation and the performance of small business enterprises in Bauchi state. Target population of the study was small business manufacturing enterprises in Bauchi state. Based on a random sampling, the sample size of the study was 302 small business manufacturing enterprises in Bauchi state. A structured questionnaire was used to gather data from owner managers of the enterprises. The data was analyzed through descriptive analysis and cross-tabulation analysis through SPSS software. The findings of the study shows that the entrepreneurs length time in operation was found to be significantly related with business performance of the enterprises in terms of symmetric and directional significant values in cross- tabulation.
Keywords: entrepreneurs, enterprises, small business, length time in operation.
ASSESSMENT ON THE EFFECT OF ACCOUNTING FOR TAX ON ECONOMIC DEVELOPMENT OF NIGERIA: COLLECTION AND REMITTANCES PERSPECTIVES
Yusuf Ova Mutalib, Ibrahim Abdulazeez, and Fatima Bello
Department of Accountancy, Federal Polytechnic Bauchi
The economic development of any country depends on the amount of revenue generated for the provision of infrastructure in that given country. Tax is a major player in every society of the world. The tax system is an opportunity for the government to collect additional revenue needed in discharging economic development and creating a conducive business environment for its citizens. Tax is a major source of government revenue all over the world, In Nigeria and other African countries; the level of tax evasion is quite high. As a result, African countries collect little or nothing from taxes. The effect is seen in the lack of resources for development and near dependence on foreign countries for aids and loans. The economic effects of tax include micro effects on the distribution of income and efficiency of resource use as well as macro effect on the level of capacity output, employment, prices, and growth. If Nigeria is to make the transition from perpetually developing to a developed nation then there is the need to be tax compliant. Secondary and primary data were collected The objective of this study is to examine the effect of accounting for tax on the economic development of Nigeria and it is hoped that the insight to be gained from the research will provide a useful guide to the Stake holders, Academicians, Policy makers and the general public. Finally a corrupt free and well trained tax system will foster a great generation of tax revenue for economic development and above all, accountability and transparency on the part of government officials in the management of tax revenues for the benefit of the citizens.
Key words: Taxation, Nigeria Economy, Tax Administration/Collection and Tax Remittance.
DEVELOPMENT OF SMALL AND MEDIUM SCALE ENTERPRISES AS VERITABLE TOOLS FOR ECONOMIC SUSTAINABILITY IN NIGERIA: THE ROLE OF GOVERNMENT.
Mbakwe .K. Francis1, Bello Dogoji Adamu2, Yahaya Muhammad Adamu3, Rakiya Abba4
123Department of Business Administration and Management, 4Department of
Banking and Finance 1234Federal Polytechnic Bauchi
Small and medium scale enterprises constitute essential ingredients in the lubrication and development of any economy. In Nigeria the story makes no remarkable difference as small and medium scale enterprises dominate the economy. Small and medium scale Enterprises has a greater role in economic growth and development, this paper focuses on the effort of Government towards the encouragement of small and medium scale Enterprises. Government over the years has formulated a number of polices aimed at developing small and medium scale enterprises. Efforts has been made in the past to identify the role of small and medium enterprises to the development of Nigeria’s economy, its problems and prospects which created a vacuum on the role of government in the development of small and medium scale enterprises. It is this vacuum created by previous researchers that prompted this write up. It is therefore the thrust of this paper to identify the role of government in sustaining economic development of small and medium enterprises in Nigeria. Relevant literatures were reviewed to bring out vital issues on the subject matter of this paper. The chief source of information for this write up is secondary method of data collection. It was discovered that government through relevant institution has provide the necessary financial lubricant that facilitate the development of small and medium scale enterprises, but, a lot still need to be done by the government in terms of policy formulation in order to complement the effort of private individuals. This paper recommends among others, further establishment of micro finance institutions to serve the grass root financial needs, sensitization of the general public on how to access funds for SMEs development, public and private partnership should also be encouraged, the financial muscle of the financial institutions must be heard up to meet the financial need of SMEs in their respective locality. Business practitioners in general and in particular small business persons must acquire economic and management insight into the managerial skills and environmental variables.
Keywords – Development, small and medium scale Enterprises, veritable tools, Economic, the role of Government.
DOES BANKING CONSOLIDATION PROMOTE ECONOMIC GROWTH? DYNAMIC CHAIN TRANSMISSION EVIDENCE FROM NIGERIA
Department of Economics, Faculty of Social and Management Science, Bauchi Campus,
Bauchi State University, Gadau, Bauchi State, Nigeria,
NO ABSTRACT AVAILABLE.
Entrepreneurs as a tool for economy sustainable development
zakari shehu sarki (anim), husseini yaro ali and atodoga mark ojoajogu
Department Of Marketing, Federal Polytechnic, Bauchi
The continued and alarming rate of unemployment in the nation call for a major concern despite the government incessant efforts at reducing or even eliminating the threat through the establishment of the various bodies to helps the citizenry with resources. This paper therefore seek to create more awareness or even talk about the benefit and reward an independent business person enjoy. So as also to encourage our graduate to be self reliant. The use of internet journal and text books were employed as method of gathering data for the study. The paper reviews that even though entrepreneurship in vital and also help in the sustenance if economy development. More shall be done to help in revitalizing the sector. The paper recommended that government should make other social amenities available and reachable for ease of setting up, managing and controlling of an enterprises by all intended.
HARNESSING THE POTENTIALS OF TAX REFORM FOR SUSTAINABLE ECONOMIC DEVELOPMENT
ABDULMUHYI MUHAMMAD AWWAL* IBRAHIM SUBLIM JOHN* and
*Department Of Accountancy School Of Business Studies The Federal Polytechnic, Bauchi
The topic Harnessing the potentials of tax reform for sustainable economic development was carried out using purely secondary sources of data of ten (10) years i.e. 2000-2009 of target and actual revenue and analyzed with inferential statistical tools of Chi-Square and Spearman’s rank correlation coefficient. The result of the finding reveal that there is a significant difference between Target and Actual revenue collection before and after the ongoing tax reform with 80% degree of relationship in predictive targeted collection. Finally the study recommended among others that reforms of tax policy and indeed the administration of FIRS be conducted on regular basis with a short life span of every five years so as to guarantee increasing revenue for sustainable economic development.
KEYWORD: Tax Revenue, Reform, Sustainable Development, Coefficient of Determination, Gross Domestic Products
IMPROVING THE SERVICE QUALITY OF BANK PRODUCTS IN NIGERIA IN THE 21ST CENTURY.
1 EKE VINCENT IKECHUKWU, 1 INUWA MOHAMMED LAWAL 2 EJIKEME PIUS CHUKWUMA,
1 Department of Marketing, 2 Department of Business Administration and Management,
Federal Polytechnic, Bauchi.
This paper focused on the need for improving the service qualities of ATM services in Nigeria. While ATM services are numerous and are gaining grounds as ATM machines proliferate, it is important that the service quality variables of ATM services be validated because while most customers will continue to view the ATM as a cash dispenser, many will expect progressively greater convenience, personalized experience and data security for positive perception and use. The data for the study were collected through survey instrument developed and administered to 288 bank customers selected across four Nigerian banks. They were analysed using descriptive statistical tools with the aid of the computer software, statistical package for social science (SPSS) 20. Multiple regression analysis was used to test the hypothesis. The service quality variables used are, reliability convenience, responsiveness and awareness. Result show that these variables affect and influence positive perception and use of ATM services. These variables are not the only characteristics that influence customer perception; there are others like trust, value and image of the bank. It was recommended that bank management should monitor the environment and identify the trends through marketing intelligence. They need to constantly up date and differentiate their. ATM service quality dimension to ensure continuous satisfaction and retention of customers and optimise their limited resources for development in the 21st century.
Key words: ATM, service quality, 21st century, Bank).
MARKETING OF BANKING SERVICES AND CUSTOMER SATISFACTION:Case study of Unity Bank plc Bauchi.
USMAN IBRAHIM ZWAL, ABDULLAHI GARBA BULKACHUWA, AND RAKIYA ABBA
Banking and Finance Department, School of Business Studies, Federal Polytechnic, Bauchi
This study was designed to find out the overall effectiveness of marketing of banking services in relation to customer satisfaction. The research attempt to find out how Unity bank Plc, approaches marketing of banking services to the satisfaction of its customers. The main instruments for data collection were a customer opinion survey questionnaire and personal interview with bank staff. One hundred questionnaires were administered on selected customers randomly. The marketing services and customer satisfaction result test, which attempt to measure directly the relationship between marketing of banking services to customers’ satisfaction. While using the related chi-square test it was found that effective marketing of banking services leads to customer satisfaction. From the result of data analysis, discussion and hypothesis testing carried out reveals that the bank charges are moderate. With regards to procedures undertaken to open account is okay and services offered by the bank are customer satisfied.
Keywords: Banking service, customer, satisfaction, marketing of services.
REVENUE ALLOCATION IN NIGERIA: PROBLEMS AND PROSPECTS
1 WALI, YAYA MUKHTAR, ABDULLAHI, 2GARBA BULKACHUWA
1Department Of Accountancy Federal Polytechnic, Bauchi
2 Department Of Banking And Finance, Federal Polytechnic, Bauchi
Revenue is very important in the provision of goods and services by the government to its citizenry. In Nigeria, revenue comes from either oil or non-oil sources. All revenues accruing to the country are shared between the federal government, state governments and local governments using a revenue allocation formula drawn up by the revenue mobilization allocation and fiscal commission. However, revenue allocation in Nigeria has virtually pitted the oil producing states against other states in the federation over the issue of the percentage that should be set aside as derivation to be given to the oil producing states. This paper is aimed at examining the problems of revenue allocation in Nigeria and how these problems can be overcome. Secondary sources of data were used for this research; data was obtained from workshop and conference papers, textbooks, journals, government official documents etc. Findings revealed that despite various interventions by the government to the oil producing states it has not achieved the desired objectives in the region. This can be attributed to the massive corruption by those charged with the responsibility and lack of fairness in the revenue allocation formula. It is recommended that there should be fairness in the distribution of the nation’s resources and the government should prosecute corrupt officials.
KEYWORDS: Revenue, Allocation, Derivation, Oil, Corruption
STRENGTHENING REVENUE GENERATION IN LOCAL GOVERNMENT FOR SUSTAINABLE RURAL DEVELOPMENT IN NIGERIA
Department of Accountancy, School of Business Studies, Federal Polytechnic, Bauchi
Local government is the third autonomous tier of public authority established to bring about socio-economic development in the rural areas, through stable increase in rural productivity and income, diversification of rural economy and general enhancement of quality of life in the rural areas. But obviously the performance of local government in the country is below expectation due to lack of sufficient revenue that hindered its potentiality. Data for this research was obtained from secondary sources; and it was discovered that both internal and external factors are the genesis of the poor revenue generation in the local government. It is recommended that the there should be a sound internal control system in local government councils; this could be achieved by establishing an independent internal audit unit to watch over councils revenue flow, by regular inspection and audit of all revenue earning books obtained in the council against the receipts book issue notes and receipt book register, In order to ensure adequate control of revenue flow of the local government.
KEYWORDS: Local Government, Rural Development, Revenue, Generation, Sustainable Development
THE CONTRIBUTION OF TAX AUDIT AND INVESTIGATION TO THE SUSTAINABLE DEVELOPMENT OF THE NIGERIAN ECONOMY.
IBRAHIM ABDULAZEEZ, YUSUF OVA MUTALIB AND BELLO FATIMA,
Department Of Accountancy, The Federal Polytechnic, Bauchi.
The tax system of any country is based on the assumption that the tax payer would be co-operative and honest with his tax return. He, the taxpayer is expected to file his return as accurately as possible and pay-off the required amount of tax due thereof. But in actual fact, it is not so in the Nigerian system of tax management instead, some of the taxpayers in Nigeria would prefer to deliberately or ignorantly misapply the tax laws in such a manner that their tax-base are eroded in their favor (i.e. tax avoidance and tax evasion). These practices have an adverse effect on the revenue generation of the government for the sustainable growth and development of the Nigerian economy. These therefore necessitates the need for tax audit and investigation to check-mate the activities of some of the tax payers that are involved in such sharp practices. This paper discusses the contribution of tax audit and investigation to the sustainable development of the Nigerian economy by findings ways to reduce cases of tax evasion on the one hand and maximize revenue generation of the Nigerian government in carrying out its developmental programmes on the other. In this study, data were collected through the secondary sources by reviewing the relevant literature on tax audit and investigation. Some of the major findings are that with an effective and efficient tax audit and investigation the cases of tax avoidance and tax evasion can be reduced, and also improve the Internally Generated Revenue (IGR) of the Nigerian government for sustainable growth and development. To achieve the objectives of tax audit and investigation, it was recommended that the practicing accountants should uphold the fundamental principles of professional ethics while rendering consultancy services since they often act for tax payers in their dealing with the relevant tax authority.
Key Words: Tax Audit, Investigation, Sustainable development, Tax Evasion and Tax Avoidance.
THE EFFECT OF SMALL AND MEDIUM SCALE ENTERPRISES FINANCING ON NIGERIA’S ECONOMIC GROWTH.
OGUNDE OLUKEMI OLUYEMISI
Banking and Finance Department, School of Business Studies, The Federal Polytechnic, Bauchi, Nigeria.
This study investigated the impact of small and medium scale enterprises financing on the economic growth of Nigeria using correlation coefficient and regression analysis (OLS).Data used for this study was sourced from the central bank of Nigeria statistical bulletin and the world bank data from year 2000 to 2012.The correlation result showed a negative correlation between SME financing and GDP and a negative correlation between SME financing and unemployment rate. The regression result showed an inverse relationship between SME financing and the GDP and a positive relationship between unemployment and GDP while that of the GDP and the total credit to the private sector showed a positive relationship. It was recommended that the government of Nigeria should as a matter of policy increase financing to the SMEs to reduce unemployment rate in the country.
KEYWORD – SMEs, unemployment, GDP, credit to private sector, economic growth.
THE OPPORTUNITIES AND CHALLENGES OF E-COMMERCE AND E-PAYMENT TO DEVELOPING COUNTRIES ECONOMY
1SALISU ABDULLAHI, 1M.S KARDAM, 2 ABUBAKAR YUSUF
1 Dept. of Surveying & Geo-Informatics, The Federal Polytechnic, Bauchi.
2 National Space Research & Development Agency (NASRDA), Abuja.
The paper focuses on developing countries that have not fully implemented the use of e-commerce and e-payments in their economic, commercial and productive processes. It also creates awareness on the likely effects for enforcing the use of e-payments to carry out e-commerce transactions on the economies of developing countries. The study also highlighted key issues that hinder a successful implementation of e-payments in developing countries. It also describes the factors hampering the development of e-commerce processes in developing nation. Legal and Regulatory Frame work for the promotion of E-commerce in developing countries where also highlighted.
THE ROLE OF INTERNATIONAL MARKETING IN THE ECONOMIC DEVELOPMENT OF NIGERIA
HUSSAINI YARO ALI, ATADOGA MARK O., SAMUEL YUSUF BADI
Dept. Of Marketing, Federal Polytechnic, Bauchi
The contribution of international marketing to economic development cannot be over emphasized. All over the world, countries are not independent as far as production of goods and services are concerned. International marketing arose as a result of competition, decreased demand in the home market, excess production, global opportunities, etc. This paper therefore seeks to highlight the reasons, mode of entry into international market, difficulties or threats from the environment and the benefits countries can stand to gain from international marketing. Secondary data was used throughout the study and it was found that international marketing improves the standard of living as well as balance of payment of countries, which ultimately leads to economic development.
VALUE RELEVANCE OF ACCOUNTING INFORMATION FOR FIRMS’ DECISION-MAKING PROCESS
Yusuf Ova Mutalib1, Ibrahim Abdulazeez2 &Fatima Bello3
1,2 & 3Department of Accountancy, Federal Polytechnic Bauchi
Value relevance research empirically investigates the usefulness of accounting information to stock investors. Accounting information is denoted as value relevant if there is a statistical association between the accounting numbers and market values of equity. This review provides a comprehensive study of the value relevance literature. There is little known about the role of accounting information in terms of its ability to explain changes to the security prices This study evaluates the relevance of financial information on firms’ decision making process based on the Bauchi Meat Product Company Ltd, Bauchi as a case study. Organisational managers cannot plan effectively without accurate and reliable financial information which must be made available at all time. Oral interviews and administration of questionnaires were used to obtain data for the study. We adopted the use of Cochran statistical test for our analysis in order to test the hypothesis formulated. The study revealed that for effective decision-making, management needs accurate and timely financial information as a base. Financial information is relevant to firms’ decision making process which is aimed at ensuring efficient and effective resource management strategy. Organizations should always ensure that accurate, timely and relevant financial information are made available to facilitate business decision as this will curtail business failure as a result of non disclosure of relevant financial data.
Keywords: Value relevance, Information, Financial, Decision-making