276.F浅谈我国中小企业的营运资金的管理 新英文原文.doc

Overview of the Statutory Guidelines for PublicSector AccountingOLADELE, Olugbenga KolawoleDepartment of Accounting & FinanceCollege of Administrative & Business Studies (CABS), Kaduna Polytechnic, P. M. B. 2113, Kaduna.ABSTRACT：Nigeria is the financial giant of Africa and today one of the developing countries that in fast  gaining  recognition  and  acceptance  at  the  international  level.  With  so  many beautiful plans and sound  procedures established to achieve some discipline in its financial  control and management,  the  home  from is  nothing to  write  home  about because of the apparent disregard for rules and regulations by those in authority. The result is that nothing works! No matter how beautifully intended. That is why this paper gives  a  detailed  assessment  of  the  effectiveness  on  the  statutory  guidelines  for accounting for public funds. It also highlights the problems and offers useful solutions.INTRODUCTIONIn a developing economy, a common feature is the regulation of all facets of economic activities through standardized rules that bring about a presumed uniformity of actions. The management and  operation of government financial activities is one facet that needs certain regulations  in  order  to  achieve  the set  financial  objectives  of  the government  . These objectives are:a.  The provision of useful information necessary for the efficient, effective and economic management of the financial resources of the government;b.  Provision of information necessary by the executives to report on the discharge of their responsibilities in relation to the collection, custody and disbursement of public funds entrusted into their care;c.  Provision of proofs of reasonableness of the financial transactions; andd.  Ensuring compliance and strict adherence to  the  laid down rules and regulations. The civil service, through which the government operates, is a large and complex organization that needs predetermined standards  (financial  and  otherwise) foruniformity  of action in  order  to  achieve  the  financial  and  other  objectives  of  the government.  Procedures for revenue collection, security of cash and properties as well as the categories of officers that are supposed to be responsible for each action be  set  out  in  the  civil  service  for the  desired  effectiveness  and  efficiency  in  the management of government financial resources. Nigeria, as a Third World country, has had more than a fair share of the desired regulations  necessary for achieving the set financial objectives of the government, at least on paper.  The country has been having different financial regulations in different forms right from  when it was totally dependent on its colonial master and after “flag” independence. These rules and  procedures, which regulate the financial activities of the Federal Government, are enshrined in various legal documents of the government, such  as the  Constitution of the Federal Republic of Nigeria  of various  dates, Finance Act 1958, Audit 1958 Act or Decree, Appropriation Act or Decree,  the annual Budgets etc. This paper attempts to review and critically assess the financial regulations as contained in the various legal documents of the Federal Government and articulates some of the major problems hampering their implementation and challenges for the future.REVIEW AND ASSESSMENT OF THE FINANCIAL REGULATIONSThe Nigerian financial regulations have undergone substantial changes over the years as a result of the need to adapt to the changing socio-economic, socio-political and socio-cultural environments.  Nevertheless, the financial regulations of the Federal Republic of Nigeria have remained sound on paper but grossly inefficient and ineffective in implementation. The Federal Government of Nigeria has been promulgating different laws in the form of Acts, Decrees, Constitutions, etc, for  among other things, the standardization of its financial activities. Below is a review and assessment of  those laws, or sections thereof that serve to regulate the financial activities of the Federal government of Nigeria of Nigeria.FINANCE (CONTROL AND MANAGEMENT) ACT 1958 (as amended)The Federal Ministry of Finance issues financial regulations in accordance with and under the  authority of this Act. The Act governs the management and operation of government funds.  It also regulates the accounting system, the books of accounts to be kept and the  procedures to be followed in the preparation of accounts and financial statements.In the Revised Financial Regulations (1976), which were issued under the authority of this Act, regulatory arrangements were forwarded in respect of:1.  Government finance and Accounts 2.  Government Stores Under finance and accounts, issues regulated include: a.  Financial responsibilities of government officersb.  Procedures for revenue collectionc. Classification and control of expenditured.  Consideration in award of government contracts e.  Establishment and duties of internal audit unitsf. Uses of and proper control of government vehicles etc.Under stores, issues regulated include:a.  Classification of stores (allocated  and unallocated),b.  Responsibility for supervision and custody of government stores c.   Procedure for handing over of storesd.  Treatment of loss on stores and unserviceable stores.Regular stores inspection procedure, etc. Store was defined as any material, moveable or unmovable, belonging to the government.With careful study one can understand and agree that these regulatory provisions are capable of  bringing about financial discipline in the operations of government if well applied. But the fact is that  the provisions are only on paper and are not to the knowledge of most of those who are expected to apply them.  So, no application!  The financial regulations themselves might be considered outdated considering the fact that the last time they were reviewed was in 1976, about two decades ago.AUDIT ORDINANCE 1956 (as amended by AUDIT ACT 1958)This act covers the area of audit and accountability within the government.  According to Section B, Sub-sections 1-3, of the Act and its subsequent amendments, the accounts prepared by the Accountant-General of the Federal (who is the Chief Accounting Officer of  the receipts, payments and  has the  general supervision  of the  accounts  of  the Government of the Federation) are to be  submitted to  the Auditor-General for the Federation  for  audit. The  Auditor-General  is  the  officer   responsible,  under  the constitution of the federation, for the audit of the accounts of all Accounting Officers and for the certificate of the Annual Accounts of the Government.The accounts are to be audited in order to ensure, among other things,1.  Compliance with rules and regulations (financial and other wise),2.  Maintenance of proper books of account and3.  Adequate security of public funds and propertiesThe auditors' reports on the accounts prepared are submitted to the legislators for review and consideration within 60 days and any adverse report is sent to the Public Accounts  Committee   (PAC)   for  thorough  investigation.  The  PAC  is  expected  to represent  the  interest  of  the  general  public  since  it  is  to  be  made  up  of  the representatives of diverse groups of people.  It is entrusted with necessary powers to adequately carry out its functions:1.  To provide a forum in which the accounting officers are called upon to explain, in public, matters  on which their departments had been queried by the Auditor- General;2.  To inform the National Assembly and the general public of “defects in financial administration”  and the explanation of the accounting officers whenconfronted with them;3.  To serve as a vital link between the Auditor-General and the National Assembly.There is a lot of criticisms about the implementation of the provision of the Act.  In the first place, Nigeria has not experienced much of civilian rule, which allows the formation of PAC out of the  members  of the National Assembly. The Military which has been ruling the country since 1967 save for the short break of Shagari's regime, has always suspended the constitution and are only accountable to themselves.  When they put up what may look like PAC they don't appear to bother about its report, let alone thinking of actually implementing its recommendations.   So, PAC especially under the Military is seen as a toothless bulldog! Decree 8 of 1987 and Decree 34 of 1990, which are on PAC and implementation of its decisions, are a mockery.Secondly, the Accountant-General of the Federation appears not to be able to submit the annual Reports to the Auditor-General in time.  The Auditor-General for the Federation once complained that the Accountant-General was giving him accounts of the Federation in a piecemeal manner (Lawanson, 1992).  This shows that the treasury has  been  unable  to  meet  some  of  the  qualities  of  a  good  report,  which  include timeliness, completeness accuracy, reliability, objectivity, understandability and comparability. With a piece meal presentation of reports, and in a delayed manner, none of the qualities mentioned would be achieved and, so, there would be no control.THE FEDERAL CONSTITUTIONThe 1999 constitution is the amended version of the 1979 Constitution of the Federal Republic of Nigeria, which was an offshoot, not only of the 1963 Constitution but, of the other Pre-independence Constitutions.  So, its provisions are in most respects similar to those of its predecessors (or ancestors).   The Constitution was reviewed in 1989 and1994,  with  no  hope  for  implementation  until  May  1999  when  the  new  civilian government was sworn in. It was promulgated as constitution of the Federal Republic of Nigeria (Decree No 24), 1999 and published in the Federal Republic of Nigeria official Gazette on 5th  May 1999 In Lagos. The  Constitution is supposed to be a legal document that regulates not only government accounting  but  the whole aspects of financial management in government.In Chapter V, part 1 (E) of the Constitution, the National Assembly was given certain powers and control over public funds as a way of regulating and controlling the operation of the different types of government funds.  Section 120(1), which is on the Establishment  of  Consolidated  Revenue  Fund  (CRF),  says  “All  Revenues  or  other moneys raised or received by the Federation (not being  revenue or other moneys payable under this constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and formone Consolidated Revenue Fund of the Federation”.On the withdrawal of money by the government for public services, section 120(2) says “No moneys  shall be withdrawn from the Consolidated Revenue Fund of the Federal except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those moneys has been authorized by an appropriation Act. Supplementary Appropriation Act or an Act passed in Pursuance of Section 121 of this constitution”These two sub-sections formed the basis for the idea of Fund Accounting which was defined as the method of accounting which reports in terms of funds rather than in terms of organizations. Other  sections with the objectives of financial regulations at Federal government level are on withdrawal of money from other Public fund Section120  (3),  Authorization  of  expenditure  in  default  of  Appropriation  Section  (127), Contingencies  Fund Section (123), Remuneration of the President and certain other officers Section (127) and Audit of Public accounts Section (125),All the sections of the constitution mentioned above are meant to give a perfect guidance as  to  the financial planning and control of the federal government. The constitutional emphasis on the concept of check and balance between the legislature and the executive arms of government  is enough concern for a need to instill proper accountability  and  sound  control  over  the  Public  Funds. But  unfortunately,  the constitution is almost always under suspension by the Military.  Decrees, which would be skewed towards the interest of the military junta, are, in the greater part of Nigeria's post-independence period, the supreme laws of the land. The constitutional provisions, which are determined by the representatives of the masses and implemented by them,are a better means of  attaining accountability and  control over public funds. The question is when would the Provisions have way for effective financial regulations at the Federal Government level?GOVERNMENT BUDGET (APPROPRIATION ACT)Budget  is  a  written  future  plan  of  actions  based  on  projected  revenue. In government in particular, the budget is viewed as the principal means of securing accountability and control over the use of public funds. Government budgets contains the  annual  estimates  of  capital  and  recurrent  expenditures  and  revenues  of  the government since the government is  expected to restrict its financial sourcing and spending on the plan contained in the budget.Over the years, Nigerian governments, civilian or military, have been making annual  financial  planning in the form of a budget also as to regulate their financial activities  for  the   achievement  of  national  goals  and  objectives. For  a  civilian government, there are usually some constitutional provisions empowering the legislative body to grant approval on modifications to both the capital and recurrent expenditure and revenue estimates before any funds can be expended or collected.  The Executive undertakes the execution of the budget in  relation to the collection of revenues and disbursement of public funds.  At the end of a financial year, the actual results (in theform  of  Accountant-General  Reports)  have  to  be  measured  and   released  for comparison with Budgeted results, so that appropriate actions could be taken on thevariance  that  might  arise. This  has  not  been  possible  in  Nigeria  because  of  thereporting problem already mentioned in this paper.Military  governments  usually  have  military  councils:  Armed  Forces  Ruling Council, Provisional Ruling Council, Supreme Military Council (AFRC, or PRC, SMC) that perform the same budgetary approval work as the National Assembly in the civilian government. But the councils are  not made up of representatives of the people rather, members are representing the