SOURCE AND APPLICATION OF FUNDS IN A GOVERNMENT PARASTATAL
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SOURCE AND APPLICATION OF FUNDS IN A GOVERNMENT PARASTATAL
ABSTRACT
A research proposal is a document that aims to demonstrate the researcher’s thought, how he or she intends to conduct it, his or her source of data, and the value of the research to the organisation or society at large.
It also helps to demonstrate the limitations of what he or she is accomplishing in terms of creating area techniques to be used, time period energy application, and materials to be used. According to the above descriptions and definitions,
a research proposal is a plan to be followed in the process of research effort, a guiding towards the development of the research process, and a means of developing a certain the successful completion of the project,
as well as an organ that assists the researcher in maintaining a sequential continuity to the various step or section and stage of the work to be done. Three important elements of the study endeavour are addressed in the research proposal;-
C The research procedure
However, this research will focus on the source and application of funds in a government parastatal in Nigeria, using the Institute of Management and Technology Enugu as a case study from 1995 to 2005. The research approaches that will be used are as follows:
1 primary and secondary source for acquiring a large amount of data
There are two graphs.
3 A normal distribution table and regression will be used and analysed as well.
The research would benefit the government of Nigeria and the Institute of Management and Technology Enugu by analysing the sources accessible in I M T and where this fund goes or is managed.
the college. The significance of this study is to consider the institute’s current poor performance, which includes the constant clash between management and trade unions regarding regular payment of salaries, lack of promotion to staff who are due to be promoted,
inability to maintain fixed assets such as buildings, motor vehicles, furniture and fittings, and so on, inability to settle their other numerous overhead costs, and absence. All of the problems I’ve listed have made me want to figure out what’s causing them and how to address them.
This research topic will also help to determine the extent to which a lack of consistent funding caused (I.M.T) to scale down its work force, how difficult it was for (I.M.T)
to put -up new class room blocks in relation to the number of students government discontinued funding to (I.M.T) financial stability to determine why staff are not promoted when due, and the extent to which the institute maintains their fixed assists.
Also, in order to achieve these issues, problems, and the effectiveness of the source and application of funds in government parental in our country, the significance of this topic must be stated,
which is to educate b/e fund sourced in the most appropriate manner, to know other ways or avenues of raising funds, and to reduce the friction between management and the trade union in terms of regular payment of salaries and promotions.
Finally, this research will serve as a source of inspiration because it contributes to the academic growth of the researcher.
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Organisations, both for profit and non-profit, require finances (financial assets) to carry out their various functions. That is why, regardless of their legal form, all organisations devise a method for carrying out their day-to-day operations.
The money obtained are typically not held idle by the organisation; rather, they are either re-invested to produce future profit or consumed immediately to meet the origination’s day-to-day goals, hence the term “source and application of funds” in the accounting profession.
The many avenues accessible to an organisation via which it sources its financial assets and all the outlets through which the sourced financial assets leave the organization’s coffers are referred to as the source and application of money.
In the recent past, government parastatals, of which the Institute of Management and Technology is one, relied on revenue grants in the form of subvention for few existence and growth.
However, in this era of privatisation, the government has decided to shade off its financial responsibilities in almost all government parastatals in order to focus on its constitutional role of providing an enabling environment for economic activities to thrive. This scenario has rendered numerous government parastatal completely bankrupt.
For example, the immediate lost years in which institute of management and technology have been a busy one due to financial famine meted out by the government, leaving the which institute with the following identifiably problems;-
1) Constant conflict between management and the trade union over regular salary payment
11) Failure to promote employees who are due to be promoted
111) difficulty to keep fixed assets, such as
a) Construction
b) Transportation
c) Furniture and fixtures
1V) incapacity to settle their other several unpaid bills
V) The absence of non-structural elements to replace outdated structures, etc.
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