Public Expenditure And The Role Of Accounting In The Control Of In Nigeria

PUBLIC EXPENDITURE AND THE ROLE OF ACCOUNTING IN THE CONTROL OF IN NIGERIA

ABSTRACT

“The role of Accounting in the control of public expenditure” is the title of this research project. The ongoing occurrence of budget deficit, misappropriation, and project finance theft because of a poor accounting system represent the issues that made this research necessary. The major goals are to determine whether effective budgeting can control public spending, whether a sound accounting system can guarantee transparency and accounting in public spending, and to assess the influence of costing standards on the management of public spending. Questionnaires were used to gather the data for this study. The sample size for the z test formula, which was used to test the hypotheses, is (50), which was chosen because the sample size was not very large. Some of the conclusions included the following: public revenue and expenditure are an essential part of the government budget, and public expenditure must be incurred for a government project to be carried out. The following recommendations were made: An adequate government budget can control public spending, and an effective and efficient accounting system can guarantee transparency and accountability during the execution of public spending. The government should hire a professional accountant to help with budget planning, according to recommendations. To prevent the theft of project funds, the government and other public institutions should implement sound internal control and accounting procedures.