THE ROLE OF THE PUBLIC ACCOUNTANT IN THE FORMATION, ACQUISITION AND LIQUIDATION OF COMPANIES

ABSTRACT

The accountants the business and the economy are inseparable. They are mostly needed in resolving various conflicting investment decision, initiating and co-ordinating meaning of economic development and growth. In Nigeria, this function has largely been restricted to the reporting role, book-keeping accounting and auditing.

This research project is thus a search part for what the role of the accountant, has been and what it should be in enhancing economic development in the area of company formation and profitable business acquisition. Moreover in this period of high business mortality rate, what the role of the accountant in corporate rescuer should be.

Chapter one of the study lays a theoretical framework for subsequent chapters.  Following the general introduction, the problem statement and the objective of the study which provided basis for the significance of the study and the hypothesis were stated. The limitation of this study were also highlighted.

In the literature review as contained in chapter two, works of various authors, international and local journals were reviewed to elicit views on the roles and relevance of the account in business and economic development.

Chapter three, research methodology, description of population and sampling procedure for data collection were discussed. Methods of questionnaire design, determination of sampling sige and questionnaire distribution were also highlighted.

Chapter four was based on analysis of data collected. This? Chapter was sub-divided into data analysis, hypothesis testing and summary. Percentage table, figure and narration  were carefully employed for proper understanding and testing of hypothesis.

Finally, chapter five was divided into summary of findings, recommendation and conclusion. Recommendation for resolving various conflicting issues bordering on the accountant and his role problems were drawn based on findings which were discussed.

CONTENTS

CONTENTS

TITLE PAGE:………………………………………………………………..

APPROVAL PAGE: ………………………………………………...

DEDICATION: …………………………………………………………

ACKNOWLEDGEMENT:…………………………………………

ABSTRACT:……………………………………………………………

CHAPTER ONE

1.1       INTRODUCTION

1.2       THE NATURE OF ACQUISITION MERGER AND LIQUIDATION

1.3       REASONS FOR ACQUISITION MERGER AND LIQUIDATION

1.4       STATEMENT OF PROBLEMS

1.5       PURPOSE OF STUDY

1.6       SIGNIFICANCE OF STUDY

1.7       HYPOTHESIS

1.8       LIMITATION AND SCOPE OF STUDY

1.9       DEFINITION OF TERMS

CHAPTER TWO

LITERATURE REVIEW:…………………………………………….

2.1       INTRODUCTION

2.2       THE ROLE OF THE PUBLIC ACCOUNTANT IN FORMATION OF COMPANIES

2.3       THE ROLE OF THE PUBLIC ACCOUNTANT IN ACQUISITION OF COMPANIES

2.4       THE ROLE OF THE PUBLIC ACCOUNTANT IN LIQUIDATION OF COMPANIES

2.5       THE GUIDES ON CORPORATE FAILURE AND BUSINESS SURVIVAL, THE ROLE OF THE PUBLIC ACCOUNTANT

2.6       THE PROBLEMS OF THE NIGERIAN ACCOUNTANT

2.7       SUMMARY OF REVIEWS LITERATURE

CHAPTER THREE

RESEARCH METHODOLOGY:…………………………………….

3.1    INTRODUCTION

3.2    DESCRIPTION OF POPULATION AND SAMPLING PROCEDURE

3.3    SOURCE OF DATA

3.4    QUESTIONNAIRE DESIGN

3.5    QUESTIONNAIRE DESIGN AND DISTRIBUTION

3.6    SUMMARY

CHAPTER FOUR

DATA ANALYSIS: …………………………………………………..

4.1       INTRODUCTION

4.2       ANALYSIS OF DATA FROM USERS OF ACCOUNTING SERVICES AND HYPOTHESIS TESTING

4.3       ANALYSIS OF DATA FROM PUBLIC ACCOUNTANTS AND TESTING OF HYPOTHESIS

CHAPTER FIVE SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION 1.5       INTRODUCTION 5.2       SUMMARY OF FINDINGS 5.3       RECOMMENDATION 5.4       CONCLUSION APPENDIX A:………………………………………………………… APPENDIX B:………………………………………………………… APPENDIX C                         INTERVIEW GUIDE………………. BIBLIOGRAPHY: …………………………………………………….

CHAPTER

1.1                    INTRODUCTION

The public accountant is an independent practitioner who works on a gee basis for business management or for individuals wishing to use his services or as member of an accounting firm. Most public accountants are also external authors.

The commonly known services offered by the public accountant include the following:

1.        Those that are substantially of auditing nature

2.        Those who involve primarily accounting

3.        Those pertaining to taxes.

Most people perceive the roles of the public accountant as being limited to the traditional one balance sheet in the process of auditing the financial statements of companies.

The have failed to realize and appreciate that the public accountants provides services in respect of problems relating to conceptualization of business ideas, formation, registration and development of business most importantly on how to do with the collection and presentation of accounting data. They also undertake routine book-keeping for enterprises without adequate book-keeping personnel.

Very often, the accountant is consulted with respect to income tax implication of proactive transactions. In his contribution, Okugi said consultant of his client, the task will be more cost effective and efficient. Hence, he will be able to make comprehensive report to avoid as much tax as possible and avoid unnecessary duplication.