Thankgod Agwor | R.S.U.S.T - Academia.edu (original) (raw)

Papers by Thankgod Agwor

This research study examined the impact of mergers and acquisition on the performance of manufact... more This research study examined the impact of mergers and acquisition on the performance of manufacturing firms in Nigeria. A total of thirty-five (35) companies formed the population of this study and questionnaire was used to collect data for this research work. Data generated from the study were analysed descriptively using simple percentages. From the research findings, we formed the opinion that merger and acquisition greatly affect the performance of manufacturing companies in terms of profitability. Also, increase in capital when companies merge together, leads to increase in profit because large capitals increase the business potentials. Skilled manpower leads to increase in dividend per share. Also when companies merged and acquired, they tend to overcome competitors, and this increases sales performance. Based on our findings it was recommended that- there should be adequate supervision of personnel in their various assignments in order to achieve the objectives of the merger and acquisition: and staff should be trained and retrained on regular bases so as to reduce waste and increase productivity.

The purpose of this study was to investigate the relationship between standard costing and cost c... more The purpose of this study was to investigate the relationship between standard costing and cost control in Nigerian oil and gas industry. This was achieved through a review of extant literature and development of hypotheses. The population for the study consisted of petroleum marketing companies listed in the Nigerian Stock Exchange Factbook of 2012. In order to generate the necessary data for this study, both primary and secondary methods of data collection were adopted. The primary data were collected through the administration of a questionnaire designed in a 5-point Likert scale, while the secondary data were sourced from the Nigerian Stock Exchange Factbook of 2011. The findings generated in this study revealed that a significant relationship exists between standard costing and cost control. It was observed that the more a firm practices standard costing, the more efficient is the firm in material, labor, and overhead costs. Based on the above findings, we recommended that oil and gas firms in Nigeria should adopt and apply standard costing in their accounting system so as to ensure the efficient use of resources for an effective control of costs.

This paper focused on analyzing the costs and benefits of Business Process Reengineering (BPR) in... more This paper focused on analyzing the costs and benefits of Business Process Reengineering (BPR) in Nigeria drawing on a sample of ten (10) banks in Port Harcourt. The paper was intended to ascertain the worthiness of BPR projects in the banks. Two research questions (what are the benefits of BPR? and what are the costs of BPR?) and one hypothesis (there is no significant difference between the benefits and costs of BPR), guided the study. The result showed that there is a significant and positive difference between the benefits and costs of BPR. Consequently, it was concluded that BPR is a worthwhile exercise in Nigerian banks since the findings showed that the benefits outweighed the costs. Based on this, it was recommended that: BPR should never be carried out for the mere sake of it rather, it should be preceded by strategic planning, which addresses leveraging IT as a competitive tool; such an exercise should place the customer at the center of the re-engineering effort. This can be achieved by concentrating on re-engineering fragmented processes that impact negatively on customer service; for a successful BPR, there must be recourse to corporate culture while constant communication and feedback should not be ignored; to achieve maximum result from a BPR, it must be effort of the organization members and not that driven by a group of outside consultants or sections of the organization; a specific time frame between three to six months should be designated for any BPR project so that the organization is not thrown into a state of " limbo " although this may vary from organization to organization.

This study is aimed at assisting accounting practices operated in the oil and gas industry in Nig... more This study is aimed at assisting accounting practices operated in the oil and gas industry in Nigeria particularly to examine the major problems of accounting in the Nigerian oil industry. Also, attempt was made, to assess the role of Nigerian Accounting Standard Board (NASB), the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN) in developing relevant accounting standards for the industry. Data was collected using both primary and secondary sources with the aid of structured questionnaire. Simple percentages and Chi-square Statistical models were used to analyse the data. It was found that accounting standards for oil and gas industry in Nigeria owe its origin to the methods initially formulated in America and Britain with slight modifications. It was also observed that NASB, ICAN and ANAN play significant role in formulating standards for the oil and gas accounting sector in Nigeria to suit the realities of the time. It was recommended that oil and gas companies in Nigeria irrespective of their origin should show unequivocal commitment in adopting and upholding ethical standards that would lead to improvement in accounting information. The Nigeria National Petroleum Corporation (NNPC) and oil companies should relate functionally with statutory institutions like ICAN, NASB and ANAN with a view to fostering a stronger working relationship.

Accountability and transparency constitute the panacea for sustainable democracy in forward looki... more Accountability and transparency constitute the panacea for sustainable democracy in forward looking nations of the world. This paper therefore, outlines possible causes of corruption, their economic impact and general effect on the socio-political well being of the Nigerian citizenry. It further discusses the sensitive issues of foreign debt, the apparently very laudable programmes without benefits (due to non-transparent modes of implementation), oil revenues, and delayed auditing of petroleum proceeds. It also addresses the anti-corruption machineries of government and some of the notable achievements recorded. The way forward is expected to, among others, address the Niger Delta question, with particular regard to the prolonged issues of youth restiveness, abject poverty, deprivation/marginalization, unemployment and the resultant most devastating dimension of disruption of oil exploration and exploitation activities.

The manner in which financial ratios are distributed overtime in business organizations is often ... more The manner in which financial ratios are distributed overtime in business organizations is often regarded as very useful indicators of the growth, performance, and financial status of the business. However, this paper attempts to reinforce this claim by using the normal distribution statistical model to analyse the structure of financial ratios. It adopts the case study approach to provide an in-depth analysis of the normality of the financial ratios of Vitafoam Plc. The secondary data generated from the company’s annual report and accounts were tested for normality using method of moment. It was found that financial ratios were normally distributed. On the basis of our study findings, we conclude, that financial ratios are reliable business status indicators. We therefore recommend the application of financial ratios in the evaluation of business performance, growth and financial status.

The paper examines the network of internal audit function and revealed how it is used as a manage... more The paper examines the network of internal audit function and revealed how it is used as a managerial analytical tool in the use of human and economic resources at the workplace. The major highlights of the paper are divisionalization and distinct programming of auditing activities, including the steps in process control. The paper also revealed measures for safeguarding human and economic assets. It drew attention to the implications of internal audit function in the management of fraud.

The proposition made by Perrow (2001) that the key phenomenon in existence today are organization... more The proposition made by Perrow (2001) that the key phenomenon in existence today are organizations, tend to be very relevant, when viewed from the perspective of all major achievement in organizations. The focus of an average business entrepreneur is generally to make profit and as far as possible maximize such within an organizational capacity. Though, a lot of non-profit making organizations also institutionalize internal audit practices, in the case of public corporations, the taxpayers or investors know through audit what is being accomplished. Nevertheless, there are difficulties and complications in trying to satisfy stakeholders in business organization on the basis of sound performance in their operation (Wynne 2007). Internal audit practice is often relegated to the background in Nigeria, despite the fact that it objectively examines, evaluates and reports on the adequacy of internal c3ntrol, as a contribution to proper economic, efficient, effective use of resources, risk management and corporate governance processes. The performance of businesses with its associated complexities compels the owners or shareholders to position operational management assistants and subordinates in the performance of exigent functions required for the organisation's effectiveness (Oluyemi, 2004).

In our theoretical formulation, we presupposed that business performance is influenced by the int... more In our theoretical formulation, we presupposed that business performance is influenced by the internal audit function. Thus, having discussed internal audit function and its dimensions in the foregoing, we now discuss business performance with regard to its measures such as profitability, effectiveness and efficiency. Business performance means the record of achievements made by an organization over a given period. The parameters or measures of performance in business are sourced from both organizational strategies and objectives. There has been raging controversies on how business performance can be measured. This controversy is evident from the existence of diverse approaches, measures and concepts of business performance.

In this paper, grounded theory is investigated and applied to research on electronic business in ... more In this paper, grounded theory is investigated and applied to research on electronic business in order to demonstrate its use and potential limitations in accounting research. Grounded theory enables relevant theoretical concepts to emerge from the data and, in this way, leads to discovery. In treating ‘all as data’, grounded theory uses a pragmatic method, combining qualitative and quantitative data and data gathering methods to encourage a rich understanding of the situation. This enables the generation of theory rather than the confirmation of existing theory. To illustrate this process, this paper demonstrates the evolution, with the use of grounded theory, of a definition for electronic business. This paper first introduces grounded theory as a research methodology and then discusses its application in accounting research. Thereafter an example of the use of grounded theory in research on electronic business is investigated to illustrate the use and the limitations of the process. The paper concludes with a consideration of the process and recommendations for its use.

This study was necessitated by prevalent poor performance and distress syndrome associated with p... more This study was necessitated by prevalent poor performance and distress syndrome associated with public companies. There was extensive relevant literature review which gave rise to tentative assertions or hypotheses. The survey methodology was carefully stated, followed diligently and accomplished as required, ensuring an acceptable level of validity and reliability of the data used. Indept analysis of data was carried out. From initial theoretical assumptions, major findings were made and discussed accordingly. The hypotheses were also tested. In furtherance of this presentation considerable recommendations were outlined and discussed. There was a section for conclusions as required, where if the suggestions are adopted in vibrant government owned companies, the incidence of distress may not occur especially if such is related to inventory control practices. Introduction The problem of persistent poor performance and distress of public sector companies has been a source of great concern to both the government and the general public. The benefits inherent in the effective planning and controlling of business resources have gained wide recognition among managers of business organizations in their attempt at maximizing shareholder's wealth. Organizational Management is often faced with decision problems such as choice amongst alternatives, resource commitment to different courses of action. These problems relate to investment and could exert undesirable impact on business operations, if not carefully managed. The expected cash-flow, rates of return and risks usually associated with investment proposals require careful monitoring, evaluation and analysis by management in

The paper examined the numerous frauds that banks have sustained over the years in offering funds... more The paper examined the numerous frauds that banks have sustained over the years in offering funds transfers services. In many instances, banks have not just suffered financial losses but have also faced tremendous amount of negative publicity. The study showed that most of the losses are due to poor internal accounting and administrative controls. Banks should identify components involved in providing ideal, risk-free funds transfer and consequently ascertain deviations from the ideal and then evaluate the acceptability of assuming increased risks. The study outlined fifteen steps to such an ideal funds transfers. Guidelines for transfer system processing and incoming credit transactions have also been suggested. Management must decide either to tighten controls over funds transfer to an acceptable level of risk or accept the potential exposure to fraud.

This paper examines the financial strategies of small scale businesses and how these strategies w... more This paper examines the financial strategies of small scale businesses and how these strategies will enhance their survival in a developing economy. The survey was conducted with a sample of 120 small scale businesses and 20 financial institutions in Rivers State. It was observed, from the fund providers perspective that character, capacity, collateral, circumstance and coverage, referred to as requirements for credit; do not exact the same degree of influence on the decision to grant credit facilities. The data analysis and findings conformed with the hypotheses. It was recommended that operators should endeavour to obtain basic education while the fund providers should make easier the requirements for borrowing, so as to encourage accelerated growth of small and medium enterprises in Nigeria.

Research in the social and management sciences is characterized by theories contextually referred... more Research in the social and management sciences is characterized by theories contextually referred to as subjectivism and objectivism. To come to terms with the associated rigours of science, a researcher may opt for ideographic; nomothetic, or better still a blend of the two approaches. To this end, the former subscribes to subjectivism while the latter relates to objectivism. The blend/convergence of these qualitative and quantitative elements epitomizes the more appreciated triangulation methodology.

Financial ratios are assumed to be very useful predictors of business performance, growth and fin... more Financial ratios are assumed to be very useful predictors of business performance, growth and financial status. This study evaluates the collinearity and correlation of financial ratios to establish a pattern of relationship that could serve s n empirically supported guide for financial ratios reliance in business evaluation decisions. The research data were gathered from the annual account report of vita foam Plc and analyzed using collinearity and correlation to test the research propositions. The paper found the existence of correlation and collinearity in the financial ratios, and concludes that financial ratios are reliable business status indicators. We therefore recommend the application of financial ratios in the evaluation of business performance, growth and financial strength.

This study examined global financial market. with focus on financial accounting implications and ... more This study examined global financial market. with focus on financial accounting implications and the economics of complex transactions. Also, discussed were the shortcomings of the financial accounting standard board exposure drafts, including expectations of the globally accepted accounting standards. With obvious Nigerian environmental exigencies, the outcome of the study has significant implications for all stakeholders in corporate governance.