ACCOUNTING SYSTEM OF CO-OPERATIVE SOCIETIES IN ENUGU NORTH LOCAL GOVERNMENT AREA

Most critics hold that there are paucity of accounting records maintained by co-operative societies.
    This study therefore investigate the level and the adequacy of accounting records of co-operative societies.  To determine this, the fundamental objective of the study among others are.
1.    To identify and disclose whether adequate accounting records are kept by co-operative societies.
2.    To determine the impact of the present level of accounting recordâ€s on profitability and viability of co-operative  societies.
The entire cooperative societies in Enugu North local government area (registered) was the study population from which 98 was selected. A set of structured questionnaire was administered to the sample out of which 72 responded.  Oral interview were also used to collect useful data and information which could not have been portrayed by the questionnaire.
    The collected data were classified, analysed and interpreted by the use of tables, percentage, product moment of correlation and chi-square (test of goodness of fit) was used in testing the hypothesis.
    From the analysis of data the major findings are that.
a.    co-operative societies do not really maintain adequate accounting system.
b.    There is weakness in the internal control system of co-operative societies.
c.    Co-operative societies make use of their members as their accounting staff usually the secretary.
d.    Most co-operative societies do not company with the established accounting standards.
e.    The present level of accounting records in co-operative societies affect the profitability and viability of co-operative societies.
Based on the findings some of these recommendation were made.
i.    co-operative societies should employ experienced competent and trained accounting staff to improve their accounting system.
ii.    The accounts of co-operative societies should be audited by external auditors like corporate organization.
iii.    The management of co-operative societies (committee) should receive management training and also every member of the co-operative should be educated.
 

TABLE OF CONTENTS
Title page                                    ii
Approval                                    iii
Dedication                                    iv
Acknowledgement                                v
Abstract                                    vi
Proposal                                    viii
Table of contents                                ix

CHAPTER ONE
INTRODUCTION                            1
1.1    Background of study                        1
1.2    Statement of problems                        2
1.3    The objective of the study                    2
1.4    Research hypothesis                        3
1.5    Significance of the study                        4
1.6    Scope and limitation of the study                5
1.7    Definition of terms                            6

CHAPTER TWO
 LITERATURE REVIEW                        9
2.1    Definition of Accounting                    10
2.2    Objectives and importance of accounting information    12
2.3    Importance of accounting                    14
2.4    Definition and meaning of accounting system/composition of system.                    17
2.5    Accounting system.                        18
2.6    Importance of maintaining adequate accounting system                            23
2.7    Definition and meaning of co-operative societies    26
2.8    Origin of co-operative society in Nigeria.            30
2.9    Problems of co-operative societies                32

CHAPTER THREE
RESEARCH METHODOLOGY                    34
3.1    Sources of data                            34
3.2    Sample use and determination of sample size        35
3.3    Method of investigation                         36

CHAPTER FOUR
4.1    Presentation and analysis of data                37
4.2    Data analysis                            37
4.3    Test of hypothesis                            48

CHAPTER FIVE        
5.1    Findings                                57
5.2    Conclusion                                59
5.3    Recommendations                            60
Bibliography                            62
Questionnaire                            64