The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations

Abomaye-Nimenibo Williams Aminadokiari Samuel; Ibimina Daminabo Amachree

doi:doi:10.11648/j.ajomis.20240904.12

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The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations

Abomaye-Nimenibo Williams Aminadokiari Samuel^*

, Ibimina Daminabo Amachree

Published in American Journal of Operations Management and Information Systems (Volume 9, Issue 4)

Received: 13 July 2024 Accepted: 2 September 2024 Published: 25 December 2024

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Abstract

Importance, comprehensiveness, verifiability, neutrality, timeliness, comparability, and integrity characterize a well-defined financial report of any organisation. Nigeria has a thoroughly reviewed accounting system which is a major factor that enhances the profitability of most NGOs. For anybody to collect genuine data from a real source, a questionnaire has to be drafted and used. The results so obtained were analysed, and in most cases, presented in the form of percentages, averages, and standard deviations. The intended respondents off this research included financial professionals of renowned non-profit organizations in Rivers State of Nigeria. The respondents distributed a total of 55 questionnaires and returned 50 questionnaires, representing 90% of the total. To achieve a better analysis, the ANOVA One-way technique ware was used. Our findings revealed that, the accounting system has a substantial impact on the effectiveness of non-profit organizations. It is our recommendation that Non-profit organizations maintain adequate record-keeping in full compliance with the international reporting standards; follow proper recruitment procedures; carry out regular trainings for their accounting personnel in modern software on a constant schedule; carry out routing and annual auditing of their financial statements; and most importantly, incorporate good accounting and internal control systems.

Published in	American Journal of Operations Management and Information Systems (Volume 9, Issue 4)
DOI	10.11648/j.ajomis.20240904.12
Page(s)	79-85
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Accounting System, Book Keeping, Financial Statement, Non-Profit Organization(s), Performance, Internal Control Systems, Accounting Personnel, Financial Report, Profitability

References

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[3]	Akanbi, T. A (2017). Accounting information system and management decision making: a case study of the manufacturing company in Nigeria. European Journal of Accounting, Auditing, and Finance Research. 5(11), 66–74.
[4]	Ivana, M. S and Ana, O (2013). Information technology and accounting information systems quality in Croatian middle and large companies. Journal of information and organizational sciences. 37(2), 117-118.
[5]	Libina, R (2008). The development of double-entry bookkeeping and its relevance in today’s business environment. Pace University.
[6]	Helmig, B. Jegers, M & Lapsey, I (2004). Challenges in managing non-profit organizations: a research overview. International journal of voluntary and non-profit organizations. 15(2), 101-116.
[7]	Mahdi, S. Rostami, V & Mojadom, A. (2010). The usefulness of accounting information system in an emerging economy: empirical evidence of Iran. International journal of economics and finance. 2(2), 186-190.
[8]	McMahon, R. (1995). Business growth and performance and the financial reporting practices of Australian manufacturing SMEs. School of Commerce, the flinders university of south Australia.
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[11]	Obasesin, M. O and Olaoye, F. O. (2019). The impact of ethics on financial report of corporate organizations in Nigeria. Proceedings of the conference on advanced research in management, economics, and accounting, Barcelona. 5th September. 978- 609-485-003-5.
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APA Style

Samuel, A. W. A., Amachree, I. D. (2024). The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. American Journal of Operations Management and Information Systems, 9(4), 79-85. https://doi.org/10.11648/j.ajomis.20240904.12

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ACS Style

Samuel, A. W. A.; Amachree, I. D. The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. Am. J. Oper. Manag. Inf. Syst. 2024, 9(4), 79-85. doi: 10.11648/j.ajomis.20240904.12

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AMA Style

Samuel AWA, Amachree ID. The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. Am J Oper Manag Inf Syst. 2024;9(4):79-85. doi: 10.11648/j.ajomis.20240904.12

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@article{10.11648/j.ajomis.20240904.12,
  author = {Abomaye-Nimenibo Williams Aminadokiari Samuel and Ibimina Daminabo Amachree},
  title = {The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations
},
  journal = {American Journal of Operations Management and Information Systems},
  volume = {9},
  number = {4},
  pages = {79-85},
  doi = {10.11648/j.ajomis.20240904.12},
  url = {https://doi.org/10.11648/j.ajomis.20240904.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajomis.20240904.12},
  abstract = {Importance, comprehensiveness, verifiability, neutrality, timeliness, comparability, and integrity characterize a well-defined financial report of any organisation. Nigeria has a thoroughly reviewed accounting system which is a major factor that enhances the profitability of most NGOs. For anybody to collect genuine data from a real source, a questionnaire has to be drafted and used. The results so obtained were analysed, and in most cases, presented in the form of percentages, averages, and standard deviations. The intended respondents off this research included financial professionals of renowned non-profit organizations in Rivers State of Nigeria. The respondents distributed a total of 55 questionnaires and returned 50 questionnaires, representing 90% of the total. To achieve a better analysis, the ANOVA One-way technique ware was used. Our findings revealed that, the accounting system has a substantial impact on the effectiveness of non-profit organizations. It is our recommendation that Non-profit organizations maintain adequate record-keeping in full compliance with the international reporting standards; follow proper recruitment procedures; carry out regular trainings for their accounting personnel in modern software on a constant schedule; carry out routing and annual auditing of their financial statements; and most importantly, incorporate good accounting and internal control systems.
},
 year = {2024}
}

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TY  - JOUR
T1  - The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations

AU  - Abomaye-Nimenibo Williams Aminadokiari Samuel
AU  - Ibimina Daminabo Amachree
Y1  - 2024/12/25
PY  - 2024
N1  - https://doi.org/10.11648/j.ajomis.20240904.12
DO  - 10.11648/j.ajomis.20240904.12
T2  - American Journal of Operations Management and Information Systems
JF  - American Journal of Operations Management and Information Systems
JO  - American Journal of Operations Management and Information Systems
SP  - 79
EP  - 85
PB  - Science Publishing Group
SN  - 2578-8310
UR  - https://doi.org/10.11648/j.ajomis.20240904.12
AB  - Importance, comprehensiveness, verifiability, neutrality, timeliness, comparability, and integrity characterize a well-defined financial report of any organisation. Nigeria has a thoroughly reviewed accounting system which is a major factor that enhances the profitability of most NGOs. For anybody to collect genuine data from a real source, a questionnaire has to be drafted and used. The results so obtained were analysed, and in most cases, presented in the form of percentages, averages, and standard deviations. The intended respondents off this research included financial professionals of renowned non-profit organizations in Rivers State of Nigeria. The respondents distributed a total of 55 questionnaires and returned 50 questionnaires, representing 90% of the total. To achieve a better analysis, the ANOVA One-way technique ware was used. Our findings revealed that, the accounting system has a substantial impact on the effectiveness of non-profit organizations. It is our recommendation that Non-profit organizations maintain adequate record-keeping in full compliance with the international reporting standards; follow proper recruitment procedures; carry out regular trainings for their accounting personnel in modern software on a constant schedule; carry out routing and annual auditing of their financial statements; and most importantly, incorporate good accounting and internal control systems.

VL  - 9
IS  - 4
ER  -

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Author Information

Abomaye-Nimenibo Williams Aminadokiari Samuel

Economics, School of Postgraduate Studies, Obong University, Obong Ntak, Etim Ekpo LGA, Nigeria

Contact Email

http://orcid.org/0009-0005-2036-5482
Ibimina Daminabo Amachree

Department of Accountancy, Ignatius Ajuru University of Education, Port Harcourt, Nigeria

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APA Style

Samuel, A. W. A., Amachree, I. D. (2024). The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. American Journal of Operations Management and Information Systems, 9(4), 79-85. https://doi.org/10.11648/j.ajomis.20240904.12

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ACS Style

Samuel, A. W. A.; Amachree, I. D. The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. Am. J. Oper. Manag. Inf. Syst. 2024, 9(4), 79-85. doi: 10.11648/j.ajomis.20240904.12

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AMA Style

Samuel AWA, Amachree ID. The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations. Am J Oper Manag Inf Syst. 2024;9(4):79-85. doi: 10.11648/j.ajomis.20240904.12

Copy | Download

@article{10.11648/j.ajomis.20240904.12,
  author = {Abomaye-Nimenibo Williams Aminadokiari Samuel and Ibimina Daminabo Amachree},
  title = {The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations
},
  journal = {American Journal of Operations Management and Information Systems},
  volume = {9},
  number = {4},
  pages = {79-85},
  doi = {10.11648/j.ajomis.20240904.12},
  url = {https://doi.org/10.11648/j.ajomis.20240904.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajomis.20240904.12},
  abstract = {Importance, comprehensiveness, verifiability, neutrality, timeliness, comparability, and integrity characterize a well-defined financial report of any organisation. Nigeria has a thoroughly reviewed accounting system which is a major factor that enhances the profitability of most NGOs. For anybody to collect genuine data from a real source, a questionnaire has to be drafted and used. The results so obtained were analysed, and in most cases, presented in the form of percentages, averages, and standard deviations. The intended respondents off this research included financial professionals of renowned non-profit organizations in Rivers State of Nigeria. The respondents distributed a total of 55 questionnaires and returned 50 questionnaires, representing 90% of the total. To achieve a better analysis, the ANOVA One-way technique ware was used. Our findings revealed that, the accounting system has a substantial impact on the effectiveness of non-profit organizations. It is our recommendation that Non-profit organizations maintain adequate record-keeping in full compliance with the international reporting standards; follow proper recruitment procedures; carry out regular trainings for their accounting personnel in modern software on a constant schedule; carry out routing and annual auditing of their financial statements; and most importantly, incorporate good accounting and internal control systems.
},
 year = {2024}
}

Copy | Download

TY  - JOUR
T1  - The Golly of Professional Accounting System and Profitability of Selected Non-Profit Making Organizations

AU  - Abomaye-Nimenibo Williams Aminadokiari Samuel
AU  - Ibimina Daminabo Amachree
Y1  - 2024/12/25
PY  - 2024
N1  - https://doi.org/10.11648/j.ajomis.20240904.12
DO  - 10.11648/j.ajomis.20240904.12
T2  - American Journal of Operations Management and Information Systems
JF  - American Journal of Operations Management and Information Systems
JO  - American Journal of Operations Management and Information Systems
SP  - 79
EP  - 85
PB  - Science Publishing Group
SN  - 2578-8310
UR  - https://doi.org/10.11648/j.ajomis.20240904.12
AB  - Importance, comprehensiveness, verifiability, neutrality, timeliness, comparability, and integrity characterize a well-defined financial report of any organisation. Nigeria has a thoroughly reviewed accounting system which is a major factor that enhances the profitability of most NGOs. For anybody to collect genuine data from a real source, a questionnaire has to be drafted and used. The results so obtained were analysed, and in most cases, presented in the form of percentages, averages, and standard deviations. The intended respondents off this research included financial professionals of renowned non-profit organizations in Rivers State of Nigeria. The respondents distributed a total of 55 questionnaires and returned 50 questionnaires, representing 90% of the total. To achieve a better analysis, the ANOVA One-way technique ware was used. Our findings revealed that, the accounting system has a substantial impact on the effectiveness of non-profit organizations. It is our recommendation that Non-profit organizations maintain adequate record-keeping in full compliance with the international reporting standards; follow proper recruitment procedures; carry out regular trainings for their accounting personnel in modern software on a constant schedule; carry out routing and annual auditing of their financial statements; and most importantly, incorporate good accounting and internal control systems.

VL  - 9
IS  - 4
ER  -

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