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CREATIVE ACCOUNTING AND CORPORATE DYSFUNCTION IN NIGERIA

Creative Accounting deals with manipulation of figures in the financial statements to show a view which ought not to be. According to Investopedia creative accounting is accounting practices that follow required laws and regulations, but deviate from what those standards intend to accomplish. It capitalizes on loopholes in the accounting standards to falsely portray a better image of the company. Manipulating numbers or figures to get a favourable impression has a long history. According to Balaciu and Vladu (2010), ambition of making figure more appealing or the opposite, if the case, is as old as 500 years. Venetian trade men at those times recorded the transactions between themselves by double-entry bookkeeping with ink and quill-pen in main and subsidiary books.  If there arose any inconsistencies, the inkwell was occasionally knocked over on these books in order to make entries illegible and inconsistence. This shows that manipulative behaviour of trade or business people is...
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Sustainability Reporting: A Paradigm for Stakeholder Conflict Management

Abstract This paper examined the nexus of corporate disclosure of environmental and social performance in form of sustainability reports on corporate stakeholder conflict management. Corporate stakeholder groups represent divergent interests in the activities of any corporation; as such, managing these interest groups is at the heart of survival for 21st century corporations. The study is descriptive in nature and uses survey technique. The respondents comprised 121, made up of the following stakeholder groups: employees (38); managers (15); corporate accountants (18); shareholders (22) and 28 persons. The primary data were collected with the aid of a structured 5 point likert scale questionnaire. Three hypotheses were formulated and tested in the study. Descriptive statistics and Multiple Regression Technique were used in analyzing the primary data. Our empirical findings revealed that sustainability reporting would require managers to identify Key Social and Environmental perform...
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An Evaluation of Treasury Single Account as a Cash Management Mechanism in Nigeria’s Public Sector

The Nigerian government since July 2003 has taken bold steps to tackle the deep seated risks to macroeconomic and fiscal stability and address key sources of economic inefficiency. This has led to the implementation of policies to strengthen economic management and deal with weak governance and corruption. One such policy directive is the Treasury Single Account (TSA). Treasury Single Account is a public accounting system under which all government revenue, receipts and income are collected into one single account, usually maintained by the country’s Central Bank and all payments done through this account as well (Pattanayak & Fainboim, 2010; Adeolu, 2015; Ekubiat & Ime, 2016). The purpose is primarily to ensure accountability of government revenue, enhance transparency and avoid misapplication of public funds. Ekubiat and Ime (2016) opined that the adoption and implementation of Treasury Single Account (TSA) by any government, especially in a dwindling economy, is due to th...
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