AN APPRAISAL OF THE ACCOUNTING SYSTEM OF LOCAL GOVERNMENT

This project work was focused on the appraisal of the accounting system of local government. This took off by evaluating the structure of the accounting system of local government. This was done together with the appraisal of the effectiveness of the operation of the different components of the account system. It went further to critically assess the overall effectiveness of the accounting system with a view to finding out how appropriate the financial statement produced from the system approximate the true financial position of local government. From the critical assessment above, it was concluded that the financial statement attempt to satisfy the need for both internal and external user in business and government organization. Finally, by a way of recommendation from this study that the treasury department and reorganize the component of their accounting system enhance the completeness and accuracy of accounting records secured in respect of their financial operations.