ABSTRACT
This work is an attempt ot re-emphasize the role of accounting information in ensuring good decision of business organizations. In this work, accounting information is seen as the only means by whicich the amagement of any business organization could communicate to its staff, debtors, creditors, government and infact, the general public about its operation successes and failure properly packed, the accounting information of a business speaks volumes of the avaibility or other wise of the business. specifically, this work ex-rays the extent to which business organizations make use of accounting information in achieving the objective of good management direction and control. All the accountants, managers, and some other staff in decision making position in business organization of this study. A total of 23 accountants, managers and members of management were randomly selected from three companies in PortHarcourt – River state.
This work notes that inspire of the importance of accounting information to business organization, companies make little or no good use of it. I should encourage the use of accurate, timely and capable financial data to generate good accounting information adequate enough to be used in a basis for day to day and periodic business decision. This is necessary not only to sale their organization from collapse but to help our economy to grow
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY:
The Board of Internal Revenue,EnuguinEnugustate has its origin back to the era of our colonial masters inNigeriabeing establish along side other government agencies. As internal Revenue, a division of the ministry of finance in the then EasternNigeria, the aim was to generate revenue to enhance the execution of her mapped out programmes. The Board of internal Revenue was established as an autonomous government agency charged with the sole responsibility of tax administration with the jurisdiction of the then EasternNigeria. This took effect in 1960 after the independence followed by much demanding and expanding responsibilities.
It therefore, has undergone and served various governments since its inception such like Eastern Nigeria, East central state, Anambra state and to its present state as one of the leading and autonomous viable extra-ministerial department ofEnugustate government. Policies are formulated and implemented just for the better welfare of the people by the government either in national, state or local levels. therefore at different levels the government has various organs by which it executes their policies for the interest of its subjects. Among these organization especially inEnuguStateis the Board of internal Revenue,Enugu.
It is through that there were such changes in government and the ones arising from even successive governed especially on those government organs yet, there is that constance in the duties and responsibilities of the said Board inEnuguas the main organ charged with the generation of revenue for the government the execution of her programmes.
With due consideration, therefore as to the objective and with particular reference towards achieving the goal of the Board of internal Revenue,Enuguas an organization. There must be an effective and efficient tax administration with in and outside state on behalf of the government. A summarized break down of the objectives of the organization goes thus:
- To assess personal income tax on persons and enterprises other than that of limited liability companies.
- Taxes is to be collected on behalf of the state under the following divisions:
a) Personal Income tax
b) Entertainment tax
c) Pay as you earn
d) Road tax
e) Social function tax
f) With holding taxes on contracs, rents, dividends, director’s fees and professional fees etc.
- To advice government on tax matters.
- To render proper account of the revenue collected on behalf of the state.
- To formulate tax policies in liaising with the joint board.
- To prepare annual revenue estimate.
- To liaise with federal Board of Internal Revenue for the state share of value Added Tax (VAT)
- To prepare and render weekly, monthly and annual revenue returns.
- To issue and validate tax clearance certificate.
- To investigate and obtain information for tax purposes etc.
The Board with its present organizational structure has the director of internal Revenue as the Chief executive and Accounting officer. The position of the director of internal revenue through mandatorily as occupied by a career officer, yet has the status of director general by federal government directive.
In accordance with Decree 43 of 1983 (now abrogated) the Board now has three main service department namely: personnel management department with sole responsibility for all personnel functions; finance and supplies department directly incharge of all matters concerning finance and supplies; and the planning, research and statistics department-which is incharge of planning and other related matters. Others are the line department which carryout the duties with which the Board is identified / established. These department include Assessment Department. It shoulders all matters related to tax assessment. Then the collection department which is entirely responsible for tax collection form all sources; the investigation and information procurement department whose duty is to investigate and procure information for tax purposes. Then to enhance a grassroots and effective execution of its due responsibilities, there are three special zonal officers married by zonal tax authorities re-established by the Board with in the state namely zonal tax authorities, Enugu zone, Nsukka zone and Abakaliki zone (in the present Ebonyi state capital). They are responsible for tax assessment and collection form all local government motor licensing and tax offices with their zonal being directly responsible to the director of internal revenue as it affect all tax activities in their different zones, they collect and render weekly, monthly and annual returns as at when due.
The motor licensing offices are controlled by the motor licensing offices authorities while the executive secretaries to assessment authorities control the local governed tax office. The life wire of the Board of internal revenue activities within the presentEnugustate comprises the zonela and local government tax and motor licensing offices.
Below is a diagram of organizsational structure of Borad of internal REvenue,Enuguto expantiate more as ot the above:
ORGANISATIONAL STRUCTURE OF BOARD OF INTERNAL REVENUE
DIAGRAM
1.2 STATEMENT OF THE PROBLEM
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