CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The prerequisite for development scientific advancement and adequate management of any business organization is good information system. It is vary important to note that inadequate information in any production industry can influence its activities. A highly productive and organized industry will ensure that the business continues in existence by providing adequate information system. An accounting system consist of the personnel procedures devices and records used by an organization to develop accounting information and to communicate this information to decision makers.
The design and capabilities of these system vary greatly from one organization to the other. In very small business the accounting system may consist of little more than a cash register checkbook and an annual book to an income tax payer. But in large business like production industries an accounting system includes computers, highly trained personnel and accounting reports which affect the daily operations of every department. The basic purpose of the accounting system in business establishment is to meet the organization need for accounting information information as efficiently and effectively as possible it is therefore important that every business including production industries with much emphasis on Paterson Zucchinis Aba be evaluated to know if there is proper accounting system or if there is more. Paterson zochonis since inception has made huge success both in the past and present. Although during the first word war they were faced with a square test as young as they were then but as a result of their royal and committed team of employees the business survived. This research work objective is delving into the utilization of fund and the general accounting and financial control system of production industries with a view of improving the effectiveness of their accounting system of an industry.
1. The appraisal of the performance of Paterson zochonis industries Plc (pz) and to determiner the use of its accounting and financial control measures
2. Evaluation of the information provided by the accepting system as they are useful for decision making.
3. The evaluation of the information system with the view to identify the sources and measure for investment in thee industry.
BRIEF HISTORY OF PZ INDUSTRIES PLC
The story began in the early 1870, a period many enterprising Europeans started their adventure into the west coast of Africa. George H. Paterson, a high hard Scot and George is zochonis a Greek worked together in the wholesaler ship of small trading company fisher and Randale art scoans Bay free town a sierra Leone. So after their meeting a strong friendship developed between these two people out of shared interest and ambition come to lime light when they set up a trading post of their own. Its official name was simply Paterson zochonis,”