Impact Of Public Sector Accounting On Nigeria's Financial System (A Study Of Abia State Ministry Of Finance)

ABSTRACT

This research was aimed at finding out the impact of public sector accounting on Nigeria 's financial system using Abia State Ministry of Finance as a case study. The purpose was to investigate on the accountability for stewardship and management of funds in the ministry, to ascertain if the control of public fund adopted by the ministry of finance is appropriate, also, to examine the problem facing public sector accounting in Abia state ministry of finance etc. The population size used was the staff and members of Abia state ministry of finance, out of which the sample size was selected. Using the data for this study were primarily and secondarily sourced. Pearson's product moment correlation was used to analyze the responses gotten from the distributed questionnaires. Based on the objectives of this study, data analysis, discussion of findings and fieldwork information, it was concluded that there is a significant relationship between the accountability for stewardship and management of funds in Abia state ministry of finance, the problems facing public sector accounting in the ministry does not affect their performance and also the control of public fund adopted by the ministry has a significant effect on their performance. Recommendations were also made based on the findings which includes; An account committee should be set up to control and regulate the accounting system of public sector establishments to ensure there is a proper record of the generated revenue by the account officers and when this is met, the goal of creating the ministry will be achieved.