The Impact of Company Accounts on Accounting Information Generation for Decision Making of Small and Medium Enterprises in Nigeria

Small and medium scale enterprises are gaining widespread acceptance as viable drivers of economic growth. However, several of these enterprises demise without fulfilling expectations due to poor management arising from weak accounting structure and information, and the studies of the impact of company accounts on accounting information generation are very few and not fully explored in the literature especially in Nigeria. This study therefore, examines the impact of company account on the generation of accounting information for decision making of small and medium enterprises (SMEs) in Nigeria. A survey research design approach was adopted through the administration of questionnaire to obtain primary data from respondents. The sample size of 151 respon-dents was drawn from 15 selected SMEs in Osun State. A stratified sampling technique was used to draw the sample. The data collected was analyzed using Linear Multiple Regression mode. From the results obtained, there is strong relationship between the company accounts and accounting information as indicated by the correlation coefficient of 0.955, 0.958, 0.962 and the p-value is less than 1% significant level (0.00<0.01), therefore null hypotheses are rejected. That means company accounts play significant role in generating accounting information for decision making of business organizations in Nigeria. This study finds that some SMEs operators in Osun State hired unskilled accounting personnel which make their accounting information unreliable and inadequate for effective decision making and very difficult to measure the performances of their business. This study recommends that government should promulgate new additional company law that will extend mandatory annual statutory preparation, disclosure and publication of annual accounts and reports of limited liability companies to other uncovered small and medium enterprises in Nigeria. Keywords: Accounting information, Company accounts, Small and Medium Enterprises. DOI: 10.7176/RJFA/11-11-04 Publication date:June 30th 202

Development of Hydropower Turbines Powered by Dam Overflow

The epileptic power supply in most rural areas in Nigeria and its attendant negative impact on the economy of the Nation, Agricultural productivity and huge rural emigration, is a serious source of concern. This necessitated the development of two hydro-power turbines powered by the overflow (which was rather considered a waste) from University of Ilorin (UNILORIN) dam. A portion of the overflow was channeled into a Polyvinyl Chloride (PVC) pipe and the flow rate was calculated to be 0.017m3/sec using the bucket method. The change in elevation between the overflow and the point of usage was reported to be 4m. The flow (Q) and Head (h) were typical values for many streams and rivers in different rural areas of Nigeria, hence its suitability and adoption for this study. Two turbines viz: Pelton Wheel (PW) and Cross Flow (CF) were developed and tested. The PW generated a speed of 538.4rpm and a torque of 46.2kNm at off load condition while the CF generated a speed of 330.1rpm and a torque of 39.07kNm at the same condition. During loading – when the alternator had been connected to the turbine - the PW turbine speed and torque became 392.0rpm and 36.5kNm respectively, while that of the CF became 197.7rpm and 25.0kNm respectively. A belt and pulley mechanism was used to deliver the rotational speed to the alternator and this increased the alternator speed from the PW and CF turbines to 1768.6rpm and 879.24rpm respectively. The speed from the PW was enough to power the alternator as the alternator only requires 1500rpm to function optimally. The PW was thus adjudged the most suitable for use

Numerical Investigation and Improvement of Aerodynamic Performance of Savonius Wind Turbine

Higher demand for energy has lead to increase in the consumption of conventional energy which has become more expensive and scarce. There is the need to generate power from renewable sources to reduce the demand for fossil fuels and growing concern due to increase in the effects of climate change, such as global warming and acid rain generated by extensive and deliberate use of fossil fuels in the electric generating plants and transport system. In this work, the aerodynamic characteristics of Savonius wind turbine were investigated numerically by varying the rotor configuration (semi-circular and segment of circle) and overlap ratio so as to obtain the optimum design configuration which could give better performance of Savonius rotor. Comparison between the static torque coefficient at different overlap ratios of 0%, 20%, and 40% for the two configurations were studied using Solidworks CFD software. The flow around the rotor with overlap ratio variation was analyzed with the help of velocity, pressure contours and static torque coefficient equation of the rotor. It was observed from the analysis that the overlap of 20% was the optimum overlap condition at which pressure, velocity differences and coefficient of static torque across the rotor were the highest for both configurations and that segment of a circle produced the highest characteristics for better performance. Keywords: Overlap ratio, aerodynamic, Savonius, Static torque coefficient, rotor configuration

International Public Sector Accounting Standards (IPSAS) and Credibility of Financial Reporting in Nigeria Public Sector: An Improvement or A Ruse

The objective of this work is to examine the application of IPSAS on financial reporting in Nigeria public sector and its economic benefits. The descriptive research survey method was adopted in this work while the population comprises of Fifty (50) members drew from ten (10) ministries randomly selected from all accounting departments of various ministries in Ado- Ekiti, the capital of Ekiti State, Nigeria. The primary source of data collection was employed through the use of questionnaire. The 4-point Likert scale was logically employed to quantitatively reflect order ranking while the mean scores of data analysis and Ordinary least square (OLS) were used. The results show that there is no relationship between application of IPSAS, financial reporting and its economic benefits to Nigeria. For instance, IPSAS has neither improved management and Revenue generation nor increased foreign direct investment into Nigeria. It was observed that IPSAS has no significant relationship with ability of the government or financial reporting in reducing corruption in the public sector, though, the findings show positive relationship between IPSAS and credibility of financial reporting-using accrual basis of accounting. The study concludes that adoption IPSAS has not really brought any improvement in term of its economic benefits to the government and the public; hence IPSAS is a ruse and a mere imposition on the developing countries. We recommend that government should put in place an enabling legislative framework that will aid the smooth running of IPSAS implementation in Nigeria. Government should strengthen anti- corruption agencies and engage professionals, and technocrats to drive the process to reflect stakeholders’ expectation on IPSAS and financial reporting in the public sector. Keywords: Accountability, Corruption, Financial Reporting, Public Sectors, Transparency

Measurement of agricultural mechanization index and analysis of agricultural productivity of farm settlements in Southwest Nigeria

The levels of agricultural mechanization on some farms in two states in Southwest of Nigeria were measured and the productivity of each of the surveyed farms was analyzed. Factors that lead to profitability of farm activities and whole farms were deduced.  Structured questionnaire was used to establish the socio – economic characteristics, educational level, and technical knowhow of the farmers.  The inventory of the farm machinery was also established at each of the farm settlements visited.  Agricultural mechanization index was used to evaluate the level of agricultural mechanization while the level of productivity for each farm settlement was determined as an inverse of the work output of the explicit factors involved in production function (capital or machine and labour).  Profitability of activities was measured in terms of gross margin and of whole farms.  This was measured subjectively as net benefits of physical productivity (crop yield) and the returns from the resources used during production activities.  The results of the farm mechanization index revealed that the average level of mechanization in Ogun and Osun States was 31.3% and 28.6%, respectively and the average level of mechanization in the two States was 30.6% while the total productivity ranges between 0.0115 ha/kWh and 0.0951 ha/kWh.  The average physical productivity (crop yield) on maize ranges between 1.2 to 1.7 tons/ha and that of cassava was about 11.5 tons/ha in the two states.  The sustainability analysis of the schemes indicated that inconsistency in agricultural mechanization policy, lack of favorable conditions for full integration of agricultural mechanization, lack of essential infrastructure and financial credits among other variables explained the observed low spectrum in the scale of production.Keywords: agricultural mechanization, mechanization index, agricultural productivity, farm settlement, farm machinery, settlement, sustainability Citation: Olaoye, J. O., and A. O. Rotimi.  Measurement of agricultural mechanization index and analysis of agricultural productivity of farm settlements in Southwest Nigeria.  Agric Eng Int: CIGR Journal. 2010, 12(1): 125-134.&nbsp

Optimization of the Operational Conditions for Cross Flow Turbine Developed for Power Generation

In a bid to optimize the performance of a Cross Flow Turbine designed and fabricated by Oyebode (2014), the performance evaluation of the turbine at various conditions was carried out using a portion of the overflow from the University of Ilorin (UNILORIN) dam. The Dam has a net head of 4 m, flow rate of 0.017m3 and hence theoretical hydropower energy of 668W. The turbine was tested and the optimized value of operating conditions namely; angle of inclination of the water jet (15o above tangent, tangential and 15o below tangent), height of water jet to impact point (200mm, 250mm and 300mm) and length of the water jet to impact point (50mm, 100mm and 150mm) were pre-set at their various levels while testing the Turbine. The measured outputs were Turbine Speed, Turbine Torque, Alternator Speed as well as the output voltage. The optimum values of the process output or measured parameters were determined statistically using a 33X2 factorial experiment in three replicates. An optimum turbine speed of 330.09 rpm was achieved by pre-setting 250mm height to impact point, 100mm length to impact point and the water jet 15º below tangent. Same combination also yielded an optimum turbine torque of 39.07kNm. During loading (i.e. when the alternator becomes connected to the turbine), an optimum Turbine Speed of 197.66rpm was achieved by pre-setting 250mm height to impact point, 100mm length to impact point and the water jet 15º below tangent. Same combination also yielded an optimum Turbine Torque of 25.02kNm, optimum Alternator speed of 879.24rpm and an optimum output voltage of 4.05V. The results therefore show that the turbine must be set at these operational conditions for it to perform optimally. Key words: Micro hydropower, Cross Flow turbine, Power generation, Dam overflo

Determinant of Aquaculture Technologies Adoption among Fish-Farmers in Obafemi – Owode Local Government Area of Ogun State, Nigeria

The study was conducted to assess the determinant of aquaculture technologies adoption among fish-farmers in Obafemi – Owode local government area of Ogun State, Nigeria. Primary data were obtained from 224 fish farmers with an interview-schedule guide and field observation using simple random sampling and snow-balling sampling techniques during 2008 culture period. The study revealed that majority of the respondents were male (78.6%) within active age group of 41-50 years (47.0%), had primary education (51.0%), with household size of 7-8 persons (35.7%), farming as primary occupation (71.4%), fish farming experience of 3-4 years (40.0%) and belonged to fish farmers organization (51.4%). The major constraints in aquaculture were lack of access to appropriate land (31.4%), non-availability of micro-credits (97.1%), lateness in the supply of technological packages (75%), lack of infrastructural facilities (75%) and spatial factors to extension services and inputs (67.1%). The result of chi-square analysis showed that only sex (0.672, p<0.01) and extension agents (0.060; p<0.01) had significant association between socio-economic information variables and aquaculture technologies adoption. Based on the findings of this study, the following were therefore recommended: In an enterprise where a large proportion of the fish farmers were literate, adoption of disseminated improved innovation by extension agents will be embraced, high proximity to extension and communication services as well as aquaculture inputs will be enhanced if farmers formed themselves into cooperative societies, provision of rural infrastructures, as well as credit facilities should be provided by government.  Participatory development of technologies between researchers and farmers are essential factors for adoption of new fish farming technologies.   &nbsp

Theme: Renewable Energy and Sustainability Experimental and Numerical Study of Drying of Moringa Oleifera Leaves

Drying is a preservation technique to reduce the water content of the food product to a safe level and to minimize biochemical reactions of the degradation and also to increase the shelf life of the product. Moringa being an agricultural product of high chemical, nutritional and medical use is susceptible to degradation due to relatively high moisture content. Moringa leaf is sensitive to sunlight, therefore, forced convection drying method with two types of air velocities (2.2 and 1.2 m/s) was employed in its drying. A batch of moringa leaves of 200g by mass having an initial moisture content of 83% wet basis was dried to desired 14% wet basis  moisture content at average temperature of 40oC. Drying chamber and ambient temperatures, relative humidity, air flow velocity and rate of weight reduction were measured. The experimental and model results were statistically validated. Also numerical modeling of heat and mass transfer that occurred in the drying process was done using COMSOL Multiphysics 4.3b that uses finite element approach. It took between 10 and 12 hours to dry moringa leaves to the desired moisture content at drying air velocity 2.2 m/s and 1.2 m/s respectively. The results predicted from the modelling when compared with the experimental data have a considerably agreement

PRODUCTION OF PAVING BLOCK FROM RECYCLED POLYETHYLENE

The production of paving block from sand and cement is becoming of immense and popular in Nigeria and is being used as finishing material in landscaping. Presently the cost of cement is becoming high and polythene waste is increasing daily causing pollution all over the land. This project researched into recycling of the polyethene and using it as binding agent in the production of paving blocks. The pure water sachet nylon was collected, washed and dried. It was cut and melted in a machine fabricated to recycled the sachet water nylon. The recyclate was collected and mixed with sand at different temperature range of 200 – 300 OC. The condensate was mixed with sand poured in a mould and allowed to cool. Compression and hardness test were performed on the paving block produced. The result shows that increase in temperature increases the compressive test of pave block and the more the content of the sand the higher the compressive strength of the paving block. The hardness test revealed that the pave block produced at 300 OC has a higher value than that at 200 OC while the pave block with higher sand content has greater hardness value

Residential Indoor Radon Assessment in the Vicinity of some Dumpsites in Lagos, Nigeria

Dumpsites in Nigeria are generally open and significantly elevate the pollution and contamination level of the total environment.  Indoor radon was measured with CR-39 detectors in some buildings in the vicinity of dumpsites in Lagos, Nigeria. Eight (8) dumpsites (4 dormant and 4 active dumpsites) were chosen for this study. Detectors were exposed in 50 houses randomly selected within 0 and 100m away from the dumpsites. The detectors were exposed for 3 months. They were then retrieved and etched in a 6M NaOH solution in a water-bath at a temperature of 90o C for 3 hours. Tracks were counted using a semi-automatic system with a DCE camera mounted on a microscope and connected to a PC. Radon concentration ranged from 24.00±4.86 to 656.00±131.20 Bqm-3 in the active dumpsites.Mean concentrations were 120.3±24.0, 257±51.4, 179.8±33.6, and 131.5±19.4, respectively in Oke-Odo, MRF, Olusosun, and Solus-3. In the dormant sites, concentration ranged from 16±3.2 to 931±186.3 Bqm-3 having means of 194.17±38.80, 206.75±41.33, 223.25±44.69, and 334±66.85Bqm-3 , respectively in Oke-Afa, Solus-1, Solus-2, and Solus-4. The annual effective dose and cancer risk in the active and dormant dumpsites were (3.60 mSv, 8.97 per million person-yearly) and (4.53 mSv, 12.47 per million person-yearly), respectively. This study revealed some high value of radon concentrations in some houses close to the dormant dumpsites than in the active dumpsites. This is unsafe and can cause severe health issues in the long term. Keywords: Radon, dumpsites, Olusosun, CR-39, buildings, Lagos state, SOLU