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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/4216

Title: Assessment of financial control practices in New Juaben Senior High Commercial School-Koforidua.
Authors: Akyaa, Joyce Oppong
Issue Date: 9-Jun-2011
Abstract: In recent times, there have been recurrent reports on financial irregularities persisted in a lot of Senior High Schools in Ghana simply because of laxity in controls and disregard of financial rules and regulations. Financial control activities are aimed at achieving desired return on investment. Heads of institutions use financial statements such as budget and other financial tools to exercise financial controls in the form of using policies and procedures established by institutions for managing, documenting and reporting of financial transactions. Current hearings from Public Account Committee indicate that there are challenges in our public institutions. The study was undertaken to ascertain the financial control practices in New Juaben Senior High Commercial School. Specifically, it explored the sources and uses of funds in the Senior High School and examined the effectiveness of financial controls in the institution. Four sets of questionnaires were designed. One set went to Headmaster and Assistant Headmasters. The second set of the questionnaires went to the Accounts Officers, another set went to the teachers and finally the other set also went to the student executives. Apart from these, interviews were conducted with the Headmaster and the Bursar. The survey revealed two main sources of funds for the school, the government of Ghana budget line account and internally generated funds. The revenue and expenditure trend for the School shows that expenditure exceeds revenue due to regular changes in price levels. The School has put in place effective control practices such that financial transactions were backed by supporting documents. It is recommended that, there should be periodic in-service training for the account personnel to improve knowledge, skills and abilities.
Description: A Thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Commonwealth Executive Masters in Business Administration, June, 2011
URI: http://hdl.handle.net/123456789/4216
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