Write a detailed note on inflation accounting

Posted on February 9, by Scott Alexander I. Tyler Cowen writes about cost disease. Cowen seems to use it indiscriminately to refer to increasing costs in general — which I guess is fine, goodness knows we need a word for that. Cowen assumes his readers already understand that cost disease exists.

Write a detailed note on inflation accounting

A major problem was how to plan for the societies to be confronted with the vast increases in material wealth and leisure. The national priorities shifted rapidly as Nigerians embrace the increased material wealth with poor planning and abundant waste.

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The cost of running the government enlarged bureaucracy and social programme increased tremendously as money realized from the oil boom was squandered with impurity. Inflation, affluence and ostentation life- style became the habits of Nigerians.

For these reasons accountability or the demand for public offices to give account of public resources, be it funds, properties, public statement, personal behaviors, actions, performance will continue to be of great concern to government policy makers.

As the public continues to feel an increasing painful economic pinch, the management practices of public officers will be under great scrutiny. If government and public officers cannot account for the way they use resources, then there will be a complete loss of confidence and trust on programme, necessary resulting to general apathy and discontent among the populace and even a breakdown of law and order.

Thus, the inherent problem, facing the government is to device ways and means of making public officers accountable to the taxpayers for the scarce resources under their care and for their actions while discharging their duties.

write a detailed note on inflation accounting

In essence, accountability in public administration refers to efficient management of resources for the general welfare of the citizens. This idea will be fully developed write a detailed note on inflation accounting the proceeding discussions. However, the modest intention of this paper is to examine several government policies aimed at inhibility accountability among public officers, determine environmental factors that militate against accountability, and postulate strategies for prudent financial management and propriety among officers.

Pursuit of these objectives wills necessitates relevant discussions of accountability corruption, as a mechanism for controlling waste, property values and efficiency in the management of public of fund. In Nigeria today, accountability has become of great concern to both the government and the taxpayers.

Accountability to public administrators refers to prudent in financial or materials management of scare resources. It connotes the idea of doing more with little and being able to account for every aspect of the resources involved in the process. Thus, accountability involves a process by which a public officer can be able to give account of his performance through a process model of input-process-output.

This implies that there is a contractual agreement either by verbal or written or simply understood that a public officer must give an account of his actions in regard to the property to the owner the public, government or his representatives.

This in effect encourages more embezzlement, as punishments methods on offending public officers are lesser than the offence committed. The extent to which corruption has infested and infact polluted our public institution is far unimaginable.

Without disciplined public officers. Who can be accountable for their actions and behaviors and also for the resources under their care? Hence, accountability should be critically examined to provide some guide towards the transformation of the economics growth and development in our country, Nigeria.

Accountability in public administration refers to prudence in financial and, material management of scare resources for the general welfare of the citizen.

It is concerned with the idea of doing more with little and being able to account for every aspect of the resources involved in the process. Many factors militate against accountability in our nation. These factors are instruments of mismanagement of public funds instability of tenure officers, hereditary influences, administrative loyalty and eye —service syndrome and institution inefficiency.

The contains poor accounting conduct in our public sector is contributory to the under development of both local and the nation as a whole.

The contions poor accounting conduct in our public sector is contributory to the underdevelopment of both local and the nation as a whole. The extravagant attitude exhibited by public officers who have amassed public finds and the socio economics effects of their acts have been a subject of national concern in recent time.

Thus the inherent problem facing the government is to device ways and means of making public officers accountable. A number of public financial ethics have evolved to support the need for adequate account ability in the management of public finals; these affirmative ethical principles include in department integrity and objectively include all proper transaction from the view point of generally accepted accounting principles and possession of competence and technical standards.

From the above, one can deduce that commutable is a precondition for economic growth and development. The statement of research problems becomes: What are the reasons for efficient accountability and the cause of inefficient accountability ii.

Whose responsibility is it to ensure that effective and efficient accounting system operates or exists? What are the prospects of accountability in public sector in order to circumvent the inherent causes of inefficient accounting system.

To identify the various factors that militate against accountability in Nnewi North local government of Anambra state of Nigeria ii.

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To determine the implication of accountability, its effects on economic growth and development Nnewi North Nigeria. To determine the attitude of Nigerians towards accountability iv. Finally, to suggest based on my findings some remedies for appropriate accountability among public officers 1.

It will show the causes of poor accountability attitude and lack of proper adequate accounting system of our public officers in the Nigeria. This study will also provide a way of tackling such problem. It should be noted that accountability applied both to the obligation to perform work and to exercise authority.Inflation Accounting – Meaning, Techniques – Short Note Inflation accounting refers to the process of adjusting the financial statements of a company to show the real financial position of the company during inflationary period.

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