THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA

THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA (A Case Study of Shell Petroleum Development Company of Nigeria).

ABSTRACT
The study was conducted on the Accounting for Human Resources in the oil and gas industry in Nigeria (A Case Study of Shell Petroleum Development Company of Nigeria).
Different set of people in the company were interviewed and questioned for the purpose of the study.
The data were gathered through the administration of questionnaire to respondents from different department status in the organization.
The results were analysed based on a simple percentage and interpreted under discussion of results. Finding of analysis were used to give recommendation to problems identified in the study. While the hypothesis were tested using chi-square method statistical tools for hypothesis testing.
The major findings conclusions at the study among others are:
-      Loss of revenue to the company will occur if the department continues in their current practice of not informing the human resource department about when their contract staff is on leave so that they would not be paid during such period.
-      Loss of revenue to the government will occur, results of 5% withholding tax payment by the contract staff which is not properly computed by the company.
CHAPTER ONE
INTRODUCTION
1.1   BACKGROUND OF THE STUDY: THE ACCOUNTING FOR HUMAN RESOURCES IN THE OIL AND GAS INDUSTRY IN NIGERIA (A Case Study of Shell Petroleum Development Company of Nigeria).
It is well know fact that the Nigeria major sources of revenue is from oil gas sector of the economy. This account for over 80% of the total revenue generated by the government in the recent past. the Nigeria foreign resources has increased tremendously due to the high price of petroleum product all over the world. This has brought some level of confidence to the foreign investors to invest in the Nigeria economy and stability in the exchange rate of the Nigeria currency.
As the importance of this sector cannot be over emphasized, it is pertinent to see that those companies that are engaged in exploration of the crude oil carry out their activities in an effective and efficient manner.
My focus of this research will be based on accounting for human resources in the oil and gas industry, a case study of shell petroleum Development Company of Nigeria limited.
The topic was chosen because of my concern as to determine the treatment being meted out to personnel in the industry.
This research projects is based on the human resources accounting of shell petroleum Development Company of Nigeria limited. It focuses at the points highlighted in the proposal. Before I proceed, would like to present the followings
Structure of the Oil Industry
Most of the oil in Nigeria comes form the Niger Delta and six major companies of which SPDC is the largest. The others are EXXON, Mobil, Chevron Texaco, Agip, Total Fina ELF, and Texaco. All these operations are joint ventures with the government holding a majority share of between 55.60 percent, through the NNPC (Nigeria National Petroleum Corporation).
National Oil Companies
NNPC and its subsidiaries are senior partners in all the major upstream ventures. They have extensive domestic operations, especially downstream. They own large reserve of oil and gas and enjoy a monopoly of refining and petrol chemicals. NNPC depends on the government for fondling and has limited access to international capital markets.
Major Oil Companies
Shell, Exxon, Mobil, Chevron, Agip, Total Fina ELF, Texaco, ESSO, Canoco.
These companies operate internationally and have a strong financial hue. They have considerable technological know how and extensive information networks. They are commercially and markets driven with strong links to head offices and sister companies world wide. Their activities in Nigeria usually relate to upstream operations.
Independent Oil Companies
Addax, Amni, Atlas, Brass, Cavendish, Consolidated, Continental, Dobril, Express, Famfa, Montorief, Penk, Sommit and others. These are mostly indigenous companies, but often operating with foreign technical partners. They compliment the role of the major players and national oil companies.
Service and Supply companies
Sdilom Berger, Halliborton, western Alas, Baroid Cameron, Bj Hoghes MI. Drilling Fluids and others.
These companies provide services to the oil industry. They are mainly multinationals with a strong R & D base and skilled manpower. Nigeria companies are now making inroads in this sector ,e.g. lonstar Drilling Savsco well services and others.
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THE EXTENT OF RELIANCE ON ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION IN CORPORATE ORGANISATION

THE EXTENT OF RELIANCE ON ACCOUNTING INFORMATION FOR EFFECTIVE BUSINESS AND FINANCIAL DECISION IN CORPORATE ORGANISATION

CHAPTER ONE
INTRODUCTION
1.1.    BACKGROUND TO THE STUDY
Accounting information is an ingredient in most, if not all, financial managerial decisions. In developed economies, these decisions are worth billions of dollars each year. In some cases, the decisions are lacking in quality. Consequently, if researches can improve decision making through improved information, society will benefit.
As we all know, accounting speaks the language of business as it records all transactions of an individual firm or other bodies that can be expressed in monetary terms.  Predicated on the going concept, accounting is the scheme and art of collecting, classifying, summarizing and communicating data of financial nature required to make economic decisions in a corporate organization.
Accounting information can be used to translate these different dimensions into a common financial dimension. Accounting information uses formalized categories for collecting and reporting information that creates a common language with which members of the organization can communicate. Formalization permits the transmission of information with fewer symbols and this facilitates the coordination between different functions that need to provide input to the decision-making process. However, accounting information is also an imperfect representation of the underlying decision problem, since not all aspects involved can be quantified perfectly in financial numbers (Galbraith, 1973).
Accounting information may help managers to understand their tasks more clearly and reduce uncertainty before making their decisions (Chong,1996). We talk about uncertainty as a lack of information compared to what a decision-maker needs to make a decision (Galbraith, 1973), and the less managers are able to predict the outcomes from their actions, the more uncertainty there is.
According to Ademola et al (2012), accounting information is essential to business management. It involves identification, classification, storage and protection, receipt and transmission, retention and disposal of records for preparation of financial statements.
Accounting information serves as a critical tool for recording, analyzing, monitoring and evaluating the financial condition of companies, preparation of documents necessary for tax purposes, providing information support to many other organizational functions,(Amidu et al., 2011). In the context of corporate organisation, accounting information is important as it can help the firms manage their short-term problems in critical areas like costing, expenditure and cashflow, by providing information to support monitoring and control.
 The range of accounting information users is a broad one, and it has different information needs, but the same quality requirements in terms of accounting information contained in the financial statements. Even if a number of criticisms and limitations can be brought and attributed to accounting information, it remains the most important substantiation source of financial decisions for most corporate organizations.
Finally, accounting information is an ingredient in most, if not all, financial managerial decisions. In developed economies, these decisions are worth billions of dollars each year. In some cases, the decisions are lacking in quality. Consequently, if researches can improve decision making through improved information, society will benefit, it also produces results which enhances decision making in the organisation. Hence, it can safely be concluded that Accounting information is not an end in itself but a means to an end .i.e. decision making to improve corporate performance, and also produces detailed and comprehensible accounting information which are invaluable basis for decision making in a corporate organization.

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THE EFFECT OF ACCOUNTING TECHNIQUES ON SMALL BUSINESS PERFORMANCES

THE EFFECT OF ACCOUNTING TECHNIQUES ON SMALL BUSINESS PERFORMANCESCHAPTER ONE
INTRODUCTION
1.1.          BACKGROUND TO THE STUDY
The Small and medium scale enterprises  sector has been recognized worldwide for its role in economic advancement through ways various like; wealth generation, employment creation, and poverty reduction (Kithae, Gakure, & Munyao, 2012). Small and medium scale enterprises are a fundamental part of the economic fabric in most developing countries, and they play a very important role in furthering growth, innovation and prosperity. Although smaller in size, they are the most important enterprises in the economy due to the fact that when all theindividual effects are aggregated, they surpass that of the larger companies. The social and economic advantages of small and medium scale enterprises cannot be overstated.
 SMEs are defined as non- subsidiary, independent firms which employ less than a given number of employees, this number varies across national systems, other parameters other than the number of employees are used in categorizing businesses as SMEs.
As per the time of the new millennium SMES accounted for 95% of firms and 60-70% of employment creation in majority countries in the world (OECD, 2000). Small and Medium Scale Enterprises are mostly found in the service sector of various economies which in most countries account for two-thirds of employment levels.Being highly innovative, they lead to the utilization of our natural resources which in turn translates to increasing the country’s wealth through higher productivity. Small and medium scale enterprises have undoubtedly improved the standard of living of so many people especially those in the rural areas (Ariyo, 2005).
Accountingtechniques serves as a critical tool for recording, analyzing, monitoring and evaluating the financial condition of organizations,preparation of documents necessary for tax purposes, providing information support to many otherorganizational functions, (Amidu et al., 2011). In the context of SMEs, accounting techniques is important as itcan help the firms manage their short-term problems in critical areas like costing, expenditure and cashflow, byproviding information to support monitoring and control.
Many small business owners are daunted by the mere idea of accounting techniques and bookkeeping. But in reality, both are pretty simple. Keep in mind that bookkeeping and accounting techniques shares two basic goals: to keep track of income and expenses, which improves chances of making a profit, and to collect the financial information necessary for filing various tax returns. There is no requirement that records be kept in any particular way. As long as records accurately reflect the business’s income and expenses, there is a requirement, however, that some businesses use a certain techniques of crediting their accounts: the cash method or accrual method. Depending on the size of the business and amount of sales, one can create own ledgers and reports, or rely on accounting (Williams et al 1999). Elements of financial position, including property, money received, or money spent, are assigned to one of the primary groups, that is, assets, liabilities, and equity. Within these primary groups each distinctive asset, liability, income and expense is represented by respective “account”. An account is simply a record of financial inflows and outflows in relation to the respective asset, liability, income or expense. Income and expense accounts are considered temporary accounts, since they represent only the inflows and outflows absorbed in the financial-position elements on completion of the time period.
Furthermore, nurturing of the small to medium size enterprises (SMEs) is being hailed for their pivotal role in promoting grassroots economic growth and equitable sustainable development, this nurturing has resulted in increased entrepreneur activities in the SMEs sector in developing countries (OECD, 2000). SMEs play a key role in transition and developing countries These firms, constitute a major source of employment and generate significant domestic and export earnings, thus SME development emerges as a key instrument in poverty reduction efforts and their advancement is key to sustained economic growth, for they are an integral part of a country’s economic fabric and their success affects the well being of the society as engines of job creation, economic growth and innovation.
However, the mortality rate of these small firms is very high. According to the Small and Medium Scale Enterprises Development Agency of Nigeria (SMEDAN) Nigeria, 80% of SMEs die before their 5th anniversary, another smaller percentage goes into extinction between the sixth and tenth year thus only about five to ten percent of young SMEs survive, thrive and grow to maturity. This implies that, the survival rate of SMEs in Nigeria is less than 5% in the first five years of existence. This also suggests that, SMEs in Nigeria have not been able to contribute to development. Among the factors responsible for these untimely close-ups are poor accountingtechniques,lack of concrete record keeping, inadequate accounting information and procedures,lack of finance, weak institutional capacity, lack of managerial skills and training of small-scale enterprises,and tax related issues.
Against the backdrop, maintenance of proper accounting records and techniques is a pre-requisite for the success of every business or enterprise, this involves documenting all transactions of business entities includes assets, liabilities and capital (liquidity). In other to solve limitations such as lack of finance, weak institutional capacity, lack of managerial skills and training of small-scale enterprises, there is need for relevant business and management expertise to manage properly the finance, purchasing, selling, production, and human resources aspect of the business. According to Jones (2012), accounting is important in that, it allow businesses or organizations to understand their financial perspective, and moreso,in order to develop the small business enterprises properly; there is the need for them to adopt proper accounting techniques.
SMEs are also require adequate and also sophisticated accounting techniques and systems to better manage scarce resources and enhance customer and owner/manager values, assist them in controlling costs, measuring and improving productivity and thus ensure the achievement of the business goals.

COMPLETE THESIS - THE EFFECT OF ACCOUNTING TECHNIQUES ON SMALL BUSINESS PERFORMANCES.

THE EFECT OF INFORMATION COMMUNICATION TECHNOLOGY (ICT) ON DEPOSIT MOBILIZATION ANDPROFITABILITY    -

This research work focuses on the Effect ofInformation Communication Technology (ICT) on deposit mobilization andprofitability of banks in Nigeria. It also revealed how computer technology is being used in taking strategic decisions in an organization, with the usage of computer technology. It helps to discover how efficiently and effectively the bank(s) are performing as regards deposit mobilization and trend(s) in profitability. Some research instrument(s) were used in this continuous writing were: Interview, Questionnaire and Observations which were illustrated with charts and (Chi-square). It starts with background of the study up to final recommendation to the higher