THE ROLE OF ACCOUNTING IN THE CONTROL OF PRIVATE AND PUBLIC SECTORS OF THE NIGERIA ECONOMY (A STUDY OF CHIDEX GROUP OF COMPANIES AND ENUGU ELECTRICITY DISTRIBUTION COMMISSION (EEDC)

ABSTRACT the role of accounting in the control of private and public sector of the Nigeria economy involves giving proper account of government and private funds and resources. It was discovered that the problems of accountability and control make it impossible for the set objectives of an organization to be achieved. These problems involve the companies not adhering to set out regulations for proper allocation of government and private resources. The objectives of financial control and accountability is to ensure that expenditure is properly authorized and adequate attention is given to collection of debts and revenue. This research work makes use of the descriptive survey as its research design and some population of the said companies were used for the study. Questionnaires were administered to the staff of these organization in order to ascertain the role accounting played in the public and private sector of the Nigeria economy. Every public and private organization should maintain effective accounting information which must be timely for decision making in the organization. This research work reveals that there is a system of financial control and accountability in Chidex group of companies and Enugu Electricity Distribution Commission. Finally, the review of accounting control of private and public sectors were recommended by the researcher as a means of improving effectiveness and efficiency of the Nigeria Economy.