The effects of accounting concepts on the financial statements (a critique) :a case study of CPAR Uganda and other organizations like; UNICEF, UNHCR, UN, UNAIDS
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Date
2006-07
Authors
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Journal ISSN
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Publisher
Kampala International University, College of Economics and Management
Abstract
The study sought to establish and understand the effects of accounting
concepts on the financial statements. It mainly looked at CPAR
Uganda, a non-profit making organization.
The researcher utilized both quantitative and qualitative methods for
data analysis. Respondents included Financial Managers, Accounts
Assistants and other employees of the organization.
The findings of the research revealed that Accounting Concepts are
used by organizations (CPAR Uganda) in the preparation of financial
statements and they are supplemented by accounting standards
(IAS)/financial reporting standards. The Accounting Bodies have
played great roles in the effectiveness of financial statements by
ensuring use of accounting concepts, the legal framework and financial
reporting standards. This is revealed by over 75% of the respondents
who strongly confirmed the above statement. However, there are also
some challenges faced in the process of such efforts by accounting
bodies.
The study concludes that there is continuous improvement on the use
of accounting concepts and financial reporting standards. Though there
is still need for increased concerted efforts from the accounting bodies
and all the users of accounting information to help put hands together
so as to enable effective financial reporting, and produce accurate
reports for better decision making.
Description
A research report submitted in partial fulfillment of a Bachelor Degree in Business Administration and
Management of Kampala International University
Keywords
Financial statements, UNICEF, UNHCR, UN, UNAIDS