Thursday, 30 June 2016

Problem And Prospect Of Auditing In Public Sector

The concept of management was evolved as a result of man. Hence, it data back to the evolution of money. In this case, the origin of money which bring about cash management in our contemporary commercial backs really came as the aftermaths off the difficulties of trade by barter. Trade by barter is a system and practice where goods are exchanged for goods and services. Barter system has many defects and drawbacks. These include the difficulty of double coincidence of wants time an d energy wastage, difficulty in ascertaining the value of commodities, discouragement of large quantities and variety of purchaser, deferred payment, installment payment and borrowing large scale production and the likes. 
Title Page
Table of contents

1.1  Introduction
1.2  Statement of the Problem
1.3  Research Questions
1.4  Objectives of the Study
1.5   Research Hypothesis Problems and Prospects of Cash Management in Commercial Banks
1.6   Significance of the Study
1.7   Scope and Limitation of the Study
1.8   Definition of Key Terms
1.9  Organizing Plan of the Study

2.1 Literature Review
2.2 Historical Background of Union Bank of Nigeria Plc
2.3 Appraisal of Cash Management Application
2.4 Definition of Cash Management and Motive of Holding Cash
2.5 Principles of Cash Management
2.6 Instruments of Cash Management
2.7.1Monetary Policy
2.8.2Factors of Cash Management

3.1 Source of Data
3.2 Population of the Study
3.3 Sample Size
3.4 Methods of Data Collection (Instrument)
3.5 Methods of Data Analysis
3.6 Limitations to Methodology (Optional)

4.1Data Presentation and Analysis Data Presentation
4.2Analysis of Results
4.3Discussion of Results
4.4 Research Relating to Hypothesis Testing
4.5Policy Statement


Having identified the defector inevitable by barter system, people were forced to fashion out a generally acceptable means of exchange i.e. money. It is worthy to note that the paper money presently in use was originated from the receipt the goldsmiths issued to people who kept gold and other valuables with them. As goldsmiths were taught to be honest, merchant people started keeping their gold with them for safe custody. In detain the goldsmith gave the depositors receipt promising to return the gold on demand. These of the goldsmith were substitutes for money such paper was back by gold and was convertible on demand into gold. This ultimately led t the development of bank note and today, money has another form other than paper called coin.
Thus, money is anything that is generally acceptable as a medium of exchange for making payment, settlement of debt or other business obligations. The qualities of money such as generally acceptability, portability, durability, homogeneity, divisibility,
Recognizability and scarcity make money and prudent management paper money and coins are collectively called cash. Today customer deposit money with banks and banks give a customer. The customer can withdraw all his or her money in cash for the purpose of setting his or her debt or he or she can issued cheque by asking the bank to transfer the stated sum form his deposit for beneficiary.

So, the continued patronage of a bank by a customer deposit money with banks same important factor among which are like followings:
-      Availability of cash to meet the immediate and urgent needs of customers.
-      The qualities of services rendering.
-      The proximity of the back to the customer’s business premises.
-      The approach ability and business acquisitive of its manager etc.

Of all the reasons listed above, there is one which ranks supreme to all other reasons and that is the ability to strike balance between the shareholder and customer i.e. problem of profitability and liquidity are equally the utmost. The bankers has to keep enough cash in order to meet customers demand at the time will serve the interest of the shareholder who are expecting returns over the investment.

In the course of the study, the research is centered on ineffective cash management in our country’s deposit money bank with particular attention to Union Bank which deprives our country’s banking industry  of competition with banks of developed countries of the world.
The following recommendations are suitable for the solution to the problems of cash management.
(i) There should be expressed and honest personnel employed into the bank for effective and efficient management of cash.
(ii) The idle balance should be properly invested in economy income.
(iii)There should also be supervisor and implementation of loans by  banks. So as to ensure that the loan is well utilized for the purpose.
(iv) Cash inflow and outflow overtime period should be adequately prepared and adhered to.
(v) Adequate supervision to branches without notice should be undertaken to ascertain that they operate in efficient way to improve cash management.

This paper intends to find answer some questions so as to achieve its objectives for the purpose of this research work. The question are as follows:
(i)   What are the saving services of the bank and their operation?
(ii)  What are the nature of operation of the bank?
(iii) What are the conditions to grant loan and on what type deposit and the shareholder?
(iv) What is the policy of bank on the shortage or surplus declared by the Central bank?
(v)  Does your bank has any investment in other bank or industry?

The main objectives and aim is to examine the problems and the suggested prospects of cash management in money deposit banks. It also aims to attain the following objectives:
-      To meet payment schedule.
-      To minimize the funds techniques to ensure efficient.
-      To proffer strategies techniques to ensure efficient cash management as this could be the deposit money banks. It as modern financial organization.
-      To determine the appropriate target cash balance.
-      To determine how cash can be manager efficiently and effectively.

HO: Cash management does not have positive effect on the profitability of deposit money bank.
HI: Cash management has positive effect on the profitability of deposit money bank.

The study of their research work in particularly of great important to the bank, government, and researcher and to the public.

The study of this research work allows the bank to develop strong internal control of cash receipts and disbursement so as to manager the inflow and outflow of cash in order not be face liquidity crunch i.e. borrowing at disadvantage.

The study of this work gives a means of eradication of the difficulties in the implementation of monetary policy by the Central bank also recommend a capacity building framework for developing countries and to find loans to some government parastatal e.g. farmers.
To other researcher to look at the float management for techniques, disbursement control and investment of idle cash, specifically relevant data from Union Bank of Nigeria Plc.

To maintain adequate level of cash to meet operational and capital requirements and to obtain the maximum yield on short term investment of pooled, idle cash and to maintain adequate monies at hand to meet daily cash requirements of the municipality while maximizing the amount available for investment and to obtain maximum earning in invested finds while ensuring their safety.

The scope of this study focuses attention on cash management in Deposit money bank problems and prospects with a case study  of Union Bank fo Nigeria Plc.
The researcher faced so many limitations while conducting the research which includes insufficiency of data as some officials could not respond to the questionnaire.
Insufficiency of data is also part of the limitation faced in the course f this research work as the bank officials were unable to disclose some information.
            Another problem or limitation in the course of this research work is inadequacy of fund because the researcher needs some amount of cash to do one or two thing (i.e. transportation) in the process of the researcher work. Uncooperative attitude of respondents is another limitation the researcher faced while conducting the research work. 

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