JOURNAL OF MGT. SCIENCE & ENTREPRENEURSHIP
JMSE Vol. 10 (5) 2017 ISSN – 2373-2878
Hummingbird Publications and Research International,
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Copyright © 2017 Hummingbird Publications and Research International
FINANCIAL MANAGEMENT PRACTICES AND SURVIVAL OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN DAMATURU METROPOLIS
Federal Polytechnic, School of Management Studies, Department of Business Administration and Management Studies, Damaturu.
This study examines the effect of poor financial management practices of small and medium enterprises on collapse of Business innovations in Damaturu Metropolis. The study involves 100 business owners currently in businesses and 100 others who failed their businesses before 5years of their start up. Thus the samples constitute 200. The sampling technique used was the simple random to give every member of the population equal chance of being selected. Two research hypotheses were formulated to guide the study viz: Ho1: The SMEs failure rate in Damaturu has no relation with poor accounting and record keeping practices. Ho2: The SMEs failure rate in Damaturu has no relation with indiscriminate/excessive withdrawals of cash and other material from the business. The two hypotheses were tested at 95% confidence interval using the chi square test. The result showed a significant value of 0.000 for all the variables. This value indicates a high significance being far less than 0.05, significance level. Thus, the two null hypotheses were rejected and the alternative ones accepted. It implies that SMEs failure rate in Damaturu are affected by the indiscriminate/excessive drawings and poor record keeping. Recommendations were offered as to improve on good accounting practices and to avoid unnecessary withdrawals of cash or material until projected profits are duly realized.
Keyword: Cash drawings, Financial Management, Materials drawings, Survival of SMEs.
MANAGING UNSAFE WORK CONDITIONS FOR SUSTAINABLE DEVELOPMENT IN THE OIL AND GAS INDUSTRY
- M. UMOH, PhD
Directorate of Engineering, Petroleum Training Institute, Effurun – Delta State, Nigeria
The nature and prevalence of workplace-induced injuries, diseases, psychological ill-health and environmental impacts signify that there is an urgent need by stakeholders in the oil and gas sector to review measures to manage these hazards. Given the perilous nature of the oil and gas industry, the need for implementation of an efficient Occupational Safety and Health Management System is important for improving safety and health performance. Oil and gas companies represent a significant portion of wealth among the world’s major industries; however their efforts toward sustainability still require improvement. This paper outlines safety incidents one should look out for in the Oil and Gas industry as well as the key safety and health hazards associated with the upstream, midstream and downstream segments of Oil and Gas industry. An attempt is also made to enumerate occupational safety and health risk management procedures by identifying and assessing safety and health hazards existing at the workplace and also defining appropriate control and remedial steps. A systematized approach involving solution model based on the Plan–Do –Check –Act (PDCA) cycle is used for managing occupational safety and health hazards. The key steps involving general risk management process in the oil and Gas industry as well as the significance, features, components and benefits of an effective Occupational Safety and Health Management System (OSHMS) have also been highlighted.
Keyword: Oil and Gas Industry, Occupational Safety, Health Management System, Hazards, Risk Management.
SOCIOECONOMICS AND PROFITABILITY RATIOS OF ARTISANAL FISHERIES IN MAHIN LAGOON,ONDO STATE, NIGERIA
1BOLARINWA J. BAMIDELE, 2FASAKIN, E. ADEDAYO AND 3FAGBENRO, O. ADEDAPO
1,2,3 Department of Fisheries and Aquaculture Technology, Federal University of Technology, P.M.B 704, Akure, Ondo State, Nigeria.
The study of the socioeconomic status of the fisher folks and profitability ratios of artisanal fisheries in Mahin lagoon, Ondo State, Nigeria conducted for 18 months (June, 2011 – December, 2012) showed that the artisanal fisheries is male-dominated( 81.4% ). Majority of the fisher folks were married. Gill net fishing was mainly practised (50%) , followed by cast netting (23.1%). Access to credit, extension services and improved fishing inputs were very low at 7%, 5% and 7% respectively. Most fisher folks showed poor recording habit. About 92% of the fisher folks did not keep records of transactions and catches despite the relatively high level of literacy (60% of them had minimum of secondary education). Majority complied to the use of 25.4mm mesh size showing responsible fisheries activities. Dearth of infrastructural facilities like health centres, training centres, post- harvest storage facilities, electricity and water supply was observed in most of the fishing communities. The two major challenges facing them were high incidence of water hyacinth (Eichornia crassipes) and oil spillage. This calls for governmental intervention in the area of training and provision of infrastructures that would increase the living standard of the artisanal fisher folks. Cost-benefit analysis showed the use of paddled canoes by 74% of the fisher folks was less profitable than use of motorised canoes by 26% of the fisher folks. Annual Gross Revenue was N 546,000.00 for paddle canoe owners as against N 910,000.00 was those using motorised boats. Earnings before Tax for fishing with paddle canoes and motorised canoes were N 186,000 and N 370,000.00 respectively. Return On Sales (ROS) for paddled and motorised canoe users were 34.1% and 59.3% respectively. Return on Investment (ROI) were 49% for paddled canoe fishing and 93.1% for motorised boat fishing and while the Benefit-Cost ratio were 1.52: 1 and 1.68:1 respectively. The diverse challenges facing the fisher folks calls for provision of a conducive enabling environment by the government. There is a need for training and sensitization of Mahin fisher folks. Fisheries policy makers should also adopt a ‘ Bottom-up approach’ to accommodate the specific needs of the artisanal fisher folks who were the major stakeholders.
Keyword: Fisher folks, socioeconomics, infrastructure, Benefit-Cost analysis, artisanal, lagoon.
ACCOUNTING FOR FINANCIAL PRODUCTS IN NON INTEREST FINANCIAL INSTRUCTIONS
ALIM MUHAMMADU DATTIJO
Department Of Accountancy, School Of Administration, Waziri Umaru Federal Polytecnic, Birnin Kebbi, Kebbi State, Nigeria
Islamic Banking is relatively young. It is banking base on radical departure from conventional practice .It is reporting assets differently as it did not accept the convention of substance over form, therefore reporting the financial products of Mudaraba or profit sharing, SMusharaka or partnership, Murahaba or mark-up financing ,Ijara or leasing, IStisna or preproduction financing, Ar Rahnu or Islamic pawn broking, Hedging against currency risk and qard ul Hassan or loan without interest for social activity and responsibility .The Accounting treatments are stated according Accounting, Auditing, Organisation for Financial Institutions Standards(AAOIFI).
Keyword: Equity, Risk Diversification, Accountability.
NATIONAL POVERTY ERADICATION PROGRAMMES (NAPEP): AN EMPIRICAL ANALYSIS
*LAWAL, EJALONIBU E. & **OLATUNJI, A.G.
*Department of Political Science, Faculty of Social Sciences, Federal University Lokoja **Department of Sociology, Faculty of Social Sciences, University of Ilorin
For some decades now, issues relating to development have been in the front burner of discourse among politicians, academia and intellectuals globally. In a bid to enhance global development, the United Nations in the year 2000 came up with some fundamental development goals set for all members states to achieve by the year 2015. In a bid to achieve these goals, the Nigerian government has initiated series of empowerment oriented policies, one of such is NAPEP. Now its over fifteen years since the establishment of both MDGs and NAPEP, researchers have expended lot of efforts in assessing the functionality and vibrancy of these policies but it is disturbing that many of these researches have failed to assess the technical connection between and among the implementation of these policies. In this regard, this study is an attempt to empirically assess the extent at which implementation of NAPEP has assisted the country in achieving the MDGs. Using survey method, the study found out that NAPEP as a programme could be used to attain the MDGs and recommended that the policy should be strengthened in order to assist the country in meeting the MDGs.
Keyword: Development, Economic emancipation, Empowerment, MDGs, poverty.
IMPACT ASSESSEMENT OF GOVERNMENT EMPOWERMENT PROGRAMMES ON YOUTHS PARTICIPATION IN ENTREPRENEURIAL ACTIVITIES IN ADAMAWA STATE-NIGERIA
RONALD KADALA NDAMU
Department Of Cooperative Economics, Federal Ploytechnic, Mubi.
Entrepreneurial activities have the potentials of stimulating economic growth, employment generation and poverty alleviation. To this end, governments at different levels and time in Nigeria came up with different programmes aimed at supporting the youth’s segment of the population to participate in different entrepreneurial activities for self-reliance. Thus, this study assessed the extent of Youth’s involvement in entrepreneurial activities as a result of the numerous government programmes on youth’s empowerment in Adamawa State. Data were gathered from a sample of 384 respondents, using Policy Performance Evaluation Questionnaire (PPEQ). The questionnaires were administered through participatory rural appraisal technique. Out of the 384 questionnaires administered, 376 were duly completed and returned for analysis. Tables, frequency distribution, simple percentage and regression analysis were employed to analyse the data collected. From the analysis, it was found that the government youths empowerment programmes, have at different times supported youths participation in entrepreneurial activities. R2 of 0.5813 and F=statistics of 8.2242, indicates that the implementation of government youths’ empowerment programmes had positive impact on youth’s participation in entrepreneurial activities in the study area. The study further identified the following; lack of involvement of social partners and stakeholders; corruption; policy inconsistency; poor governance, as challenges of the government empowerment programmes in the study area. In a bid to enhance the performance of the programmes, I recommended that the Government should intensify its effort of fighting corruption in the country through adequate legislation which can empower the existing corruption related agencies to perform independently. The Local Government Councils as the third tier of government operating at the grass-root level be involved in the planning and implementation stages of all poverty related programmes in the Country.
Keyword: Government, Empowerment, Programmes, Youths participation, Entrepreneurial activities.
THE RELATIONSHIP OF MANAGEMENT AND COST ACCOUNTING APPROACH TOWARDS CUSTOMERS’ PROFITABILITY ANALYSIS
OLOYEDE, K.A1; UNUIGBOKHAI, O.A.2 & OKONOFUA, S.O.3
Department of Accountancy, Auchi Polytechnic, Auchi. 2 Department of Marketing, Auchi Polytechnic, Auchi 1&3
This study examines the relationship of management and cost accounting towards customers’ profitability analysis. It has been realized in the year past by many organizations that market orientation contributes to the success of any product and this translates to their success and growth. Satisfying the needs of customers, offering them products and services which meet their desires and demands, customer loyalty can increase profitability for long term. We would like to emphasize that managerial accounting, cost calculation methods and techniques, the analysis of costs provides relevant information when analyzing the customer’s profitability. Special attention was paid on cost systems. An activity based costing approach takes customer profitability to new levels of accuracy and usefulness, provides the basis for creating, communicating and delivering value to the customers.
Keyword: managerial accounting, ABC, customer relationship management, customer profitability analysis, organizational performance
POVERTY, GOVERNANCE AND DEVELOPMENT: EXPLORING THE LINKAGES 1999-2014
ADAMU MOHAMMED, SAGIR GAMBO AUDI AND AMINU ALIYU
Department of Social Science, College of Administrative Studies and Social Sciences, Kaduna Polytechnic, Kaduna.
Poverty, Governance and Development attempts to expose the inherent contradictions bedeviling Nigeria from the crises of poverty and bad governance and the process in which directly or indirectly they stagnated Nigeria’s development. Using secondary methods of data collection and analysis, this paper unveiled that decade after attaining independence, Nigeria is still struggling with challenges of poverty. Hence, to understand the phenomenon and crises of poverty, governance and development better, the paper adopted the Dependency Theory to espouse the inherent contradictions hampering the process of development in the country. The paper recommends among others, genuine, accountable, responsive and transparent leadership as the panacea to Nigeria’s limping development and sustainability.
Keyword: Poverty, Governance, Development, Alleviation, Good Governance
E-BANKING AS A MEANS OF PAYMENT SYSTEM IN NIGERIA: ITS ECONOMIC BENEFITS AND CHALLENGES
1JIMAH, S.M., 2UNUIGBOKHAI, O.A. & 3JIMAH, K.Q.
1Department of Urban and Regional Planning, Auchi Polytechnic, Auchi 2Department of Accountancy, Auchi Polytechnic, Auchi 3Department of Electrical/Electronics, Auchi Polytechnic, Auchi
The paper reviewed the payment systems through electronic banking (e- banking) as implemented in Nigeria: its economic benefits and challenges. The e-banking in Nigeria was introduced in year 2010 and first implemented in Lagos in the year 2012 was embraced by every citizenry and to some extent has impacted positively on the Nigerian economy. Reduction in cash transaction has been experienced, fast settlement of bill, convenience in cash withdrawals and other benefits are a function of the implementation of the e-banking. The arrival of the internet has taken electronic payments and transactions to an exponential growth level. Consumers could purchase goods and services from the internet and send unencrypted credit card numbers across the network, which did not provide much security and privacy. But a wide variety of new secure network payment schemes have been developed as consumers became more aware of their privacy and security. The benefits of e-payment are unquantifiable in that it would galvanize Nigeria into a cashless society and elimination of fear of the unknown. Though e-payment is faced with challenges, like public acceptability, lack of uniform platform being, operated by the banks, lack of adequate infrastructure and issues of security, with the proper use of e-payment system, corruption which is a cancer in government arena will be holistically addressed.
Electronic payment, e-commerce, e-banking, digital money, cashless economy, Inflation and manufacturer
GENDER MAINSTREAMING AND ECONOMIC EMPOWERMENT IN NIGERIA
ISERE, VICTORIA OSHUARE & EHIGHEBOLO, IZIN ANNE
Department Of Humanities and Social Sciences, School Of General Studies, Auchi Polytechnic, Auchi, Edo State
Gender inequality, with particular reference to inequality against women surely needs to be eradicated. It does no one any good. We acknowledge that it is still a problem for many reasons amongst which that people rejoice more at the birth of a male child than a female child; for flimsy reasons a girl child is denied education. If a married woman desires divorce she rarely gets it no matter her reason(s) for demanding for it. She is denied access to her late husband’s properties even if he left written documents to say she is his next-of-kin. For her to succeed in politics, her marriage is sacrificed. She gets a job if she is ready to trade it for sexual favours. When allowed to get married, some offices will fire a female staff the moment they are aware she is pregnant because she will slow down company profits. This paper theoretically examines some reflections of gender inequality against women and economic empowerment as a strategy for gender mainstreaming and recommends amongst others that the Nigerian government must be active and sensitive to the realities of the plight of women in Nigeria, there should be a deliberate act to reserve 40% in schools admission for women to fill. Furthermore males in Nigeria should be engaged in sensitization and implementation of reforms in favour of women especially for now as they wield more political, economic and social power to promote gender equality. Women should be empowered economically through education, skill acquisition and access to land and agricultural resources. Empower women economically and enrich the Nigerian nation.
Keyword: Gender, gender mainstreaming, economic development, inequality, education