THE RELEVANCE OF SOURCE DOCUMENTS TO THE PREPARATION OF FINANCIAL STATEMENT

(A CASE STUDY OF GUINNESS NIGERIA PLC, BENIN CITY)

ABSTRACT

Source documents have a powerful function in the accounts. They almost also have a strong line relationship with the preparation of Financial Statements in any organization. Guinness Nig. Plc. was used as a case study in this project. This study highlights the vital importance of source documents in the accounting process. And how they form bedrock upon which all accounting evidence and practice are based. Even the vital role they play in the auditing of the books of account of any organization. From the field research carried out it was discovered and confirm that source documents were sacred in Guinness Nig. Plc. it was also confirm that source documents are now not only paper based but also electronic based source documents. Both are now strong part of record keeping process and backed by law and official policies of organizations including Guinness Nig. Plc.

TABLE OF CONTENT

Content                                                                                         Page

Title Page                                                                                        i

Approval Page                                                                                ii

Dedication                                                                                       iii

Acknowledgement                                                                         iv

Table of content                                                                               v

List of tables                                                                                    viii

Abstract                                                                                           ix

CHAPTER ONE

1.0      Background of the study                                                      1

1.1            History Of Guinness Nigeria Plc                                             2

1.2            Statement of the problem                                                     5

1.3            Research Question                                                                 6

1.4            Research hypothesis                                                              6

1.5            Purpose of the study                                                             9

1.6            Significance of the study                                                       10

1.7            Scope and limitation of the study                                        11

1.8            Definition of terms                                                                12

CHAPTER TWO

2.0 Literature Review                                                                     14

2.1 Introduction                                                                               12

2.2 The Meaning Of Financial Statement                                          13

2.3 Features Of Financial Statements                                                         15

2.4 The Meaning Of Source Documents                                           16

2.5 Types Of Source Documents                                                      17

2.6 The Relevance of source document to the preparation of
          Financial Statement                                                                 21     

2.7 An Overview Of Accounting Source Documents                        23     

2.8 What Are Accounting Source Documents?                                 24

2.9 What Are Characteristics Of Accounting Source
          Documents?                                                                                      27              

CHAPTER THREE

3.0 Research methodology                                                             33

3.1 Introduction                                                                               33

3.2 Research design                                                                        34

3.3 Area of the study                                                                      34

3.4 Population of the study                                                            35

3.5 Sample and sampling technique                                             35

3.6 Method of data collection                                                         36

3.7 Method of data analysis                                                           36

CHAPTER FOUR

4.0 Data presentation and Analysis                                             

4.1 Introduction                                                                               37

4.2 Presentation of Data                                                                 37

4.2 Research Question                                                                    38

4.3 Test of Hypotheses                                                          47

4.4 Discussion Of Findings                                                               50

CHAPTER FIVE

5.0 Summary, conclusion and recommendation                          53

5.1 Summary of Findings                                                              53

5.2 Conclusion                                                                                 55

5.3 Recommendation                                                                      56

References                                                                                         58

Appendix 1                                                                                      60

Appendix 2                                                                                                 61