THE ROLE OF MODERN ACCOUNTING IN MASS MEDIA

THE ROLE OF MODERN ACCOUNTING IN MASS MEDIA (A CASE STUDY OF FRCN, ENUGU)

Accounting can be defined as an act recording classifying, summarizing and reporting of business transaction for preparation periodic statement of  performance  and caused to provide information to management for decision making.

It’s an act of controlling a business by keeping records, preparing form those records certain statistics called ‘ accounting ration” and using those rations to detect financial difficulties before they become serious and uncontrolled so that certain measures may be taken.

One of the objectives of a business is to make a profit and  we defined a profit as a function of how the  resources of the  business in terms of manpower, raw material, capital are employed. One of the chief aims of accounting is to reveal whether or not a business is been conducted profitably.

Accounts, collects from those which relates to past performance and termed is historic accounts and prepared for stewardship purposes that is satisfy in the shareholders, government, creditors as well as the public as large, that the business has been conducted honestly and efficiently over the period of which the account is related.

STATEMENT OF PROBLEMS

There is that basic fact that the present economic recession periods need proper accounting for every kobo that the government may spend  likewise  the inflow and outflow of funds for that reason, there is the need for a sound accounting policy or system has been emphasized and carefully followed up by the department concentrated with the control of finance of any organization whether public or private sector.

When the accounting procedure has been laid down and followed properly and effectively. It could cut out redundancy programmes or expenditure and there by creating some substantial amount of savings.

It is therefore, of a great concern that the reservations made which followed the general claims that the accounting system are not kept properly inmost of the public sections or corporations, where large sum of public funds are pumped. In a year.

Research should go some extent to find out why or what is the principal factors that courses these ineffectiveness in public corporations, improper keeping of accounting records. The contribution in this research is not to fetch the researcher but will be  able to federal radio corporation Nigeria Kaduna federal and state government education circle and the public in general. 

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