THE FINANCIAL MANAGEMENT PRACTICE AND PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA

 

CHAPTER TWO

LITERATURE REVIEW

2.1       Introduction

This chapter presents a review of literature on the concepts under study. The chapter begins with a conceptual framework section 2.2, theories of management accounting; 2.3, reviews empirical studies  2.4 where a number of studies done on financial management practices together with their findings and their contribution to the present study is made. This is followed by a conclusion of the literature review section.

2.2  Conceptual Framework

2.2.1 Financial Management Practices

For the purpose of this section, financial management practices are defined and demarcated as the practices performed by the accounting officer in the areas of fixed asset management, accounting information systems, working capital management, financial reporting analysis and capital structure management (Bull, 2010).

2.2.2 Fixed Asset Management (FAM)

For the purpose of this research work,  the focus is on movable assets since the study is on manufacturing companies; the acquisition of capital assets can most certainly exert an effect on an organization’s competitive advantage over the long term. Capital equipment is characterized by large expenditure and non-recurring expenditure. Purchasing capital equipment usually requires a relatively large capital outlay, which may sometimes amount to millions and which may have particular financial implications. Buying capital equipment can therefore be regarded as an investment which is financed from long-term, rather than from working, capital.  It is important to consider not only the purchase price of capital equipment, but also the total cost of ownership (Seal, 2006).

Capital equipment is usually purchased at irregular intervals. It is used up gradually in the production process, rather than as a part of the end product. Owing to the relatively long lifespan of equipment, it could take several years before it needs to be replaced and, at the time of replacement, old equipment could prove to be technologically obsolete. If the correct purchasing decision is made, capital equipment generates profits for the organization. Incorrect decisions may have disastrous consequences for the enterprise, since it will not be able to sell capital equipment over the short term. For the above reason, top management should consider the acquisition of capital equipment, with care (Seal, 2006).

2.2.3 Accounting Information Systems (AIS)

Malamo, (2009) states that the AIS is a system of records usually computer-based, which combines accounting principles and concepts with the benefits of an information system and which is used to analyze and record business transactions for the purpose of preparing financial statements and providing accounting data to its users. AIS assists in the analysis of accounting information provided by the financial statements. Lambart, & Sponem,  (2005) purport that the biggest advantage of computer-based accounting information systems is that they automate and streamline reporting. Reporting is a major tool for organizations to accurately see summarized, timely information used for decision-making and financial management practices.

2.2.4 Financial Reporting Analysis (FRA)

As pertains to Financial Reporting Analysis (FRA), recording and organizing the accounting information systems will not meet objectives unless reports from systems are analyzed and used for making managerial decisions. Financial statements usually provide the information required for planning and decision making. Information from financial statements can also be used as part of the evaluation, planning and decision making by making historical comparisons (Karamanuo, & Vafeas, 2005).

THE FINANCIAL MANAGEMENT PRACTICE AND PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1      Background to the Study

Companies use financial management practice techniques to assess their operations. These include budgeting, variance analysis and breakeven analysis. These methods help organizations to plan, direct and control operating costs and to achieve profitability and performance. It is recognized that financial management practices are important to the success of the organization (Obasi, 2008). Financial management practice is the application of appropriate techniques and concepts in processing the historical and projected economic data of an entity to assist management in establishing a plan for reasonable economic objectives and in the making of rational decisions with a view towards achieving these objectives.

Financial managerial practice is a set of practices and techniques aimed at providing organizations with financial information to help them make decisions and maintain effective control over corporate resources. These include the methods and concepts necessary for effective planning, decision making (choosing among alternative business actions and controlling through the evaluation and interpretation of performance (Ikeagwu, 2010). 

According to Osuala, (2005), financial management practice helps an organization to survive in the competitive, ever-changing world, because it provides an important competitive advantage for an organization that guides managerial action, motivates behaviors, supports and creates the cultural values necessary to achieve an organization’s strategic objectives.

Financial management practice is concerned primarily with the internal needs of management. It is oriented toward evaluation of performance and development of estimates of the future as opposed to traditional financial accounting which emphasizes historical data related to such legal financial matters as ownership, investment, credit granting, taxation, regulation, and the building of foundations for consistent and conservative external reporting, “in accordance with generally accepted accounting principles.”  Flexibility is an essential characteristic of financial management practice since it presupposes that careful attention has been given to determine the important needs of management, many of which cannot be precisely identified in advance (Lawrence, 2009).

NIGERIA – CHINA RELATIONS (A CRITICAL APPRAISAL OF THE POLITICAL ECONOMIC AND CULTURAL RELATIONS)

CHAPTER TWO

                            LITERATURE REVIEW AND THEORETICAL FRAMEWORK

1.1 Introduction

The thrust of this literature review is to examine how scholars have attempted to explain the Nigeria-China  relations  with emphasis on political economic and cultural ties. This is with a view to locating the gap in the literature.

2.1  Conceptual Framework

Historically, the political economic and cultural  relations of People’ Republic of China and the Federal Republic of Nigeria dates back to 10th February, 1971 and the two countries’ bilateral relations have since been smooth and stably developed (Ali, 2008).

The development of this relationship has resulted in several bilateral agreements, in economic, trade, cultural, educational ties and many more. In fact, it is reported that about 20,000 Chinese live in Nigeria especially at the major economic centers of the country namely; Lagos,       Kano,  and Abuja (Chibundu, 2000).

 In August 2001, both countries signed an agreement on investment promotion and protection; in April 2002 they signed the agreement for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.  And three months later (July, 2002) the agreements on consular affairs, cooperation on strengthening management of Narcotic drugs, psychotropic substances, and diversion of precursor chemical, and tourism cooperation were signed by both countries (Igwe,2007).

Apparently these ties have strengthened their political economic and cultural relationships.

2.2.1 Evolution of Nigeria-China Relations

The People’s Republic of China was founded and proclaimed on 1^st day  of  October,  1949,  and  the  Federal  Republic  of  Nigeria  emerged  as  an independent entity from British Colonial rule on the 1^st day of October, 1960. Nigeria and China therefore shared symbolic day and month of political independence. Beyond the symbolic coincidence of the historic dates, China is the most populated country in the world (with estimated population of 1.5billion), while Nigeria is a country with the largest concentration of blacks in Africa (with an estimated population of 170 million).

THE IMPACT OF OVERCROWDED CLASSROOM ON TEACHING AND LEARNING IN ABUJA MUNICIPAL AREA COUNCIL (AMAC): A STUDY OF SOME SELECTED SECONDARY SCHOOL IN FCT, ABUJA.

CHAPTER TWO

LITERATURE REVIEW

2.1       Introduction

This chapter basically reviewed previous literature, outlined and explained some key concepts used in this study and also examines the contributions of some experts and scholars. The literature reviewed for this study was discussed under the sub-headings below:

1.                  Concept of overpopulation on implementation of school curriculum.

2.                  Correlation between class size and effective learning.

3.                  Impacts of overcrowded classroom of students on academic performance of students in Nigerian schools.

4.                  Impacts of school population on Teachers’ and school Resources.

5.                  Empirical studies on overcrowded classroom and implementation of school curriculum.

6.                  Appraisal of literature.

 

2.2 Concept of overpopulation on the implementation of school     curriculum

Class-size is an educational tool that can be used to describe the average number of pupils per class in a school. It is described as the number of pupils per teacher in a class (Jonah, 2009). It is a tool that can be used to measure the performance of the education system. In relation to size,     Dror (2005) reported that the rational utilization of classroom space depends upon class-size. This in turn would depend upon the area of the classroom. He argued that there are approved norms of class-size, 40 pupils per class for grades 1 to 8 and 35 pupils per class for the senior classes; while the standard allocation of class space is 1:25 square meters.

            In Nigeria, however, Ajayi (2000) reported that the class-size in primary schools ranges between 35 or 40 pupils. Class factors are very important in the teaching-learning activities, particularly when curriculum implementation is being considered. Class size is an important factor in relation to academic performance of pupils. There is a consensus among various researchers and educationists that, the lower the class size or teacher-pupil ratio, since pupils’ achievement decreases as class size increases. Many studies have pointed out the significance of teacher pupil ratio to cognitive learning in the school (Fabunmi, 2000).

Federal Government of Nigeria (2009) in the National Policy on Education recommended that the teacher-pupil ratio should be 1:40 at the secondary school level, while that of primary school should be 1:35. In emphasizing the importance of class size to the learning/teaching process. The relationship between class size and academic performance is a major controversy. The lower teacher-pupil ratio allows for more effective communication between the learner and the teacher. The effect of class size on cognitive achievement has been debated and researched for many years and has been inconclusive.

Fabunmi (2000) opined that even with these methodological problems, research has generally demonstrated the influence of class or teacher – pupils’ ratio on student’s performance in a variety of educational setting. In the view of this fact, it could be said that teacher-pupil ratio is one of the important factors determining good academic performance of students.

A study by Angela, Jeffrey & Smith (2011) reported that there is positive relationship between certain variables such as class size, teacher – pupil ratio, students factors and performance in examination. They were discovered to be factors that have strong and direct influence on academic performance of schools. Schools with larger class size and high teacher-pupil ratio recorded poor performance while better academic performance is associated with schools with small size and lower teacher-pupil ratio. A study Johnson (2000) confirm that there was no relationship between the size of the class and the results. Sullivan (2009) in one of his major findings revealed that the class sizes were found to be negatively related to school academic performance.

THE IMPACT OF OVERCROWDED CLASSROOM ON TEACHING AND LEARNING IN ABUJA MUNICIPAL AREA COUNCIL (AMAC): A STUDY OF SOME SELECTED SECONDARY SCHOOL IN FCT, ABUJA.

 

CHAPTER ONE

INTRODUCTION

1.1      Background to the Study

The impact of Overcrowded Classrooms on Teaching/Learning has been a perplexing one for educators.  Studies carried out have shown that the physical environment, ethnicity, socioeconomics, overcrowding, and teaching methods are all variables that affect student achievement (Molnar, 2000; Munoz, 2000). Other factors that affect students achievement are school population and class size; (Gentry, 2000; Swift, 2000).  

Henry (2009) noted that there is a perennial problem of congestion of classroom because education is poorly funded. Congestion leads to overcrowding, a situation whereby the students, classroom space and classroom utilization of facilities is lob-sided to the disadvantage of the students.  These situations affect the students’ academic performance. On other hand the National Policy on Education (2013) prescribed a maximum of thirty (30) students per class for effective teaching and learning.

However, in most  secondary schools in Nigeria, there are no fewer than fifty (50) students per class and in some school between 80-120 students per class.

The effects of the overcrowded classroom can be seen from the point of view of class-supervision,  control of choice and extraneous factors, overloaded teaching process such  as marking of assignments and examination, (Ajileye, 2012).

The issue of poor academic performance of pupils in Nigeria has been of much concern to all and sundry. The problem is so much that it has to the widely acclaimed fallen standard of education in Abuja Municipal Area Council (AMAC), Abuja and Nigeria at large. The quality of education depends on the teachers as reflected in the performance of their duties. Over time, Pupil’s academic performance in both internal and external examinations had been used to examine the excellence in teachers and teaching/Learning (Ajao, 2001). 

As schools grow, they become more bureaucratic, resulting in more formalized Human Relations and increased Curricular specialization.

Another strand, conducted by economists, directs attention to the potential for increased efficiency and cost reductions as schools get bigger. Conclusions from these two streams are not consistent: Although the studies with an organizational focus generally favor smaller schools, research with an economic focus tends to suggest benefits from increased size.

Overcrowded classrooms have increased the possibilities of risks for Students lack of interest in school and Poor performance in tests. These identify four specific problems regarding overcrowded classrooms: Pupils not getting individual attention, low reading scores, frustration and stress felt by the teachers and the inability of students to concentrate or stay on task while in class (Laura, 2009).  The problem identified can be that teachers were unable to give individual attention to the students. Teacher's aides are not always available and sometimes students have to share textbooks. It can take the entire class time for students to find seats, make sure everyone has a textbook to look at and then explain the next assignment. This leaves no time for individual attention to explain assignments or answer questions.  

THE EFFECT OF WATER EXTRACT OF COLA NITIDA POD ON LIPOPROTEIN CONCENTRATIONS OF ALBINO WISTAR RATS

CHAPTER ONE

1.1              INTRODUCTION

Cola Nitida has been used in folk medicine as an aphrodisiac,  an appetite suppressant, to treat morning sickness, migraine headache, and indigestion (Esimone et al., 2007). It has also been applied directly to the skin to treat wounds and inflammation (Newall et al.,

1996)on the teeth and gums. There has also been speculations as to its use in the treatment of peptic ulcer, however, in Nigeria there is no record of the incidence of peptic ulcer.

According to Esimone (2007), cola nitida tree is native to West Africa. Cola nuts are obtained from cola trees. Cola nitida belongs to the genus cola and family steriliaceae. They are commonly used to counteract hunger and thirst; in some cases it is used to control vomiting in pregnant woman and also as a principal stimulant to keep awake and withstand fatigue by students, drivers, and other menial workers.

Lipoproteins are found in the liver and cells. The liver is the largest organ inside the body. The liver is dark reddish-brown and consists of two main lobes. There are over 300 billion specialized cells in the liver that are connected by a well organized system of

“bile”   ductssels calledandthe biliarybloodsystem. 

Visit www.researchshelf.com for complete project materials, project topics, past examination questions and answers, assignments, research proposals,  meet fellow students online, meet with lecturers and ask for help, read and post news (Campus News). Registration is Free Of Charge (FOC).

Note also that our mobile app will soon be launched where you can download it and view all the above features on your mobile devices. 

PRELIMINARY INVESTIGATION ON EFFECTS OF BURANTASHI EXTRACT ON LIPOPROTEINS OF ALBINO MALE AND FEMALE WHISTAR RATS

CHAPTER ONE

INTRODUCTION

Erectile dysfunction, ED, is a sexual dysfunction that affects the reproductive systems of both men and women. By definition according to National Institute of Health consensus Development Panel on impotence (1993), in Males, it is a sexual dysfunction characterized with the inability to develop or maintain an erection of the penis sufficient for satisfactory sexual performance. It is also known as Male impotence or Baby D syndrome, while in women, according to American Psychiatric Association (1994), it is characterized with the persistent or recurrent inability to attain, or maintain until completion of the sexual activity, an adequate Lubrication- Swelling response that otherwise is present during female sexual arousal and sexual activity is thus prevented. Hence, it is called Women impotence or female erectile dysfunction.

The word impotence may also be used to describe other problems that may interfere with sexual intercourse and reproduction, such as lack of Sexual Desire and problems with ejaculation or orgasm. Using the term “erectile dysfunction,” otherhoweverproblemsare makes not involved (NIH, 2005).

An erection occurs as a hydraulic effect due to blood entering and being retained in sponge-like bodies within the penis and clitoris. The process is most often than not initiated as a result of sexual arousal, when signals are transmitted from the brain to nerves in the pelvis. Erectile dysfunction is, therefore indicated when an erection is consistently difficult or impossible to produce, despite arousal (Laumann et al., 1999).

1.1 PREVALENCE OF ERECTILE DYSFUNCTION IN WOMEN

Erectile dysfunction which is known as Female erection dysfunction in women occurs in about 43% of American Women (NIH Consensus Conference, 1993). And this medical Condition is a persistent or recurrent inability to attain or maintain clitoral erection until completion of the sexual activity, an adequate Lubrication –Swelling response that is normally present during Female sexual arousal and sexual activity is therefore, absent. The individual having the condition is said to experience frigidity (American Psychiatric Association, 1994). Again,

According to Otubu et al. (1998) about 8.7% of Women suffer from this very condition in the United States while between 35.3 - 40%, according to Adequnloye (2002) and Eze (1994) of Women in Nigeria suffer from this condition. Spector and Carey (1994) reported 5-10% in the United States.

In addition, Female erectile dysfunction occurs at any age but majorly in old age. Hence, the most significant age related change is menopause (Karen, 2000) and (Rod et al., 2005). However, erectile dysfunction may be caused by diabetes, atherosclerosis, hormonal imbalances, neurological problems etc. (Organic causes) or stress, depression etc.

Because treating the underlying causes (Organic or Psychological), the first line treatment of ED consists of a trial of PDES inhibitor (the first of which was Sildenafil or Viagra). In some cases, treatment can involve prostag-Landin tablets in the Urethra, intravenous injection with a fine needle into the penis or clitoris that causes swelling of Penis or Clitoris Pump or Vascular surgery, estrogen replacement therapy for the women etc.

Although there are various methods and techniques that are used to treat this very condition, however, for the purpose of this project, the treatment is restricted to Yohimbe, an extract from Pausinystalia yohimbe.

PHYTOCHEMICAL ANALYSIS AND THE ANTI-INFLAMMATORY ACTIVITIES OF METHANOL EXTRACT OF CRATEVA ADANSONII

CHAPTER ONE

1.0 INTRODUCTION

Anti inflammatory refers to the property of a substance or treatment that reduces inflammation. Anti –inflammatory drugs make up about half of analgesics, reducing pain by inhibiting inflammation as opposed to opioids, which affect the central nervous system published by Artemis Morris, molly Rossiter.

Inflammation (Latin, inflammo, “ the complex biological response of vascular tissues to harmful stimuli, such as pathogens, damaged cells, or irritants. The classical signs of inflammation are pain, heat, redness, swelling and loss of function by Dr Weil. Inflammation is a protective attempt by the organism to remove the injurious stimuli and initiate the healing process.

Inflammation is not a synonym for infection, even in cases where inflammation is caused by infection. Although infection is caused by a microorganism, and organism pathogen. Inflammation is a setereotyped response and is considered as a mechanism of innate immunity by Dr. Weil.

TYPES OF INFLAMMATION

Inflammation can be classified as either acute or chronic. Acute inflammation, is the initial response of the body to harmful stimuli and is achieved by the increased movement of plasma and leukocytes (especially granulocytes) from the blood into the injured tissues.

  Prolonged inflammation, known as chronic inflammation, leads to a progressive shift in the type of cells present at the site of inflammation and is characterized by simultaneous destruction and healing of the tissues from the inflammatory process from Wikipedia, the free encyclopedia. 

EFFECTS OF PROCESSING METHODS ON THE PHYSICO-CHEMICAL PROPERTIES OF SWEET POTATO AND SORGHUM

CHAPTER ONE

INTRODUCTION

Sweet potato (Ipomoea batatas) is an important food crop in the tropical and sub tropical countries and belongs to the family convolvulaceae. It is cultivated in more than 100 countries. ( Woolfe, 1992). Nigeria is the third largest producer in the world with china leading, followed by Uganda. Sweet potato ranks seventh among the world food crops, third in value of production and fifth in caloric contribution to human diet (Bouwkamp, 1985). Sweet potatoes are rich in dietary fibre, minerals, vitamins and anti oxidants such as phenolic acids, anthocyanins, tocopherol and ß- carotene. Besides acting as anti oxidants, carotenoids and phenolic compounds also provide sweet potatoes with their distinctive flesh colours ( cream, deep yellow, orange and purple). Sweet potato blends with rice, cowpea and plantain in nigerian diets. It is also becoming popular as a substitute to yam and garri. It can be reconstituted into fofoo or blended with other carbohydrate flour sources such as wheat ( Triticum aestivum) and cassava ( Manihot esculenta) for baking bread, biscuits and other confectioneries (Woolfe, 1992).

The leaves are rich in protein and the orange flesh varieties contain high beta carotene and are very important in combating vitamin A deficiency especially in children.

Sorghum (sorghum bicolor (S. bicolor) is a tropical plant belonging to the family of poaceae, is one of the most important crops in Africa, Asia and Latin America. More than 35% of sorghum is grown directly for human consumption.

The rest is used primarily for animal feed, alcohol production and industrial products ( FAO, 1995). The current annual production of 60 million tons is increasing due to the introduction of improved varieties and breeding conditions. Several improved sorghum varieties adapted to semi-arid tropic environments are released every year by sorghum breeders. Selection of varieties meeting specific local food and industrial requirements from this great biodiversity is of high importance for food security. In developing countries in general and particularly in West Africa demand for sorghum is increasing. This is due to not only the growing population but also to the countries policy to enhance its processing and industrial utilization.