AN ASSESSMENT OF FINANCIAL AND ACCOUNTING SYSTEM PRACTICES OF SELECTED HIGHER INSTITUTIONS IN OSUN STATE

The study assessed the financial and accounting system practice of selected higher institution in Osun State. The study specifically sought to investigate the effect of financial and accounting system of higher institution in Osun State, examine the effect of integration of ethics in other financial and accounting regulations on accounting system of higher institution in Osun State and evaluate the effect of integrated accounting system on the accounting system of higher institution. Descriptive survey research design was adopted to select a total of fifty two (52) respondents for questionnaire administration and data were collected with the aid of questionnaire distributed among the selected accounting staff at the Bursary unit of the selected institution. Descriptive statistics was used to analyze the data obtained with the use of SPSS 15.0. The sampling methods employed were done through simple frequency of which mean and standard deviation were derived for the analysis. In other to obtain data for this research, data was collected through questionnaire. The result of finding revealed that there is a significant relationship between budgeting practices and organizational performance at 10% levels (r=.217, P < 0.05).The study concluded that integrated accounting systems have significant effects on accounting system of higher institution in Osun State. This is because of the desire of every shareholder to know about their business organizations performances. The study recommended that reports on the organization operations should be made available to its users timely so that it can be put to adequate use.