ACCOUNTING PLANNING AND CONTROL KEY TO EFFECTIVE MANAGEMENT A CASE STUDY OF OWERRI MUNICIPAL

INTRODUCTION:
The process of managing a business or an organization consists of the basic elements of planning, control and decision making. Planning and control are parts and parcel of our daily likes. Planning and control of cost and operations is the key to good management. Accounting control is a process of developing plans for a company’s expected operations to help to carryout those plans.

Accounting planning has to do with setting out aims and objectives to be achieved over a period of time and control monitors how well the aims and objective are achieved. The preparation of a company’s finance is the single important aspect of its success. As a tool of management, it can increase the efficiency of the organization at a while since all the departments are involved. The accounting planning and efficiency are not achieved by an organization if they are not properly financed. The efficiency and effectiveness of any organization, therefore depend on a number of factors which may be categorized as clarify of purposes, management, planning, control and communication.

There is a need to have a clear knowledge of the objectives of the organizations, otherwise it will not be possible to identify goals set target for their achievements in form of planning, control and management of its finance. Accounting management has to do with planning, controlling, acquiring and utilizing of funds in a way that maximized the efficiency of the firm, most especially, (finance is the evaluation and acquisition product assets, procurement of funds and disbursement of which involved funds). The finance received by any business may be influenced by the following Fixed assets necessary for producing and distribution of products e.g. plants and machines.

b) Raw materials plants and miscellaneous supplies to purchase.
C) Wages and other expenses to be paid.
There are alternative involved in accounting decision which include the use of internal and external source. The source is mostly used for the firms operation and should not be over looked when planning finance. They are generated from operation or retained in current assets. The external sources are made up of three main types namely: short term, medium term which consist of back loan, hire purchase and sale and lease back equipment. Long term consist of debenture with a fixed charge or floating charge.

The need for Accounting planning arises becauseAccounting resources are limited and costly and even where the resources are available; the areas into which they could be applied to make profit are diverse. Planning and control acts as a device that enable management to anticipate changer are adopting it. No business exists without this concept and success in business is proportionate to its planning and skill with which it is controlled.

• BACKGROUND OF THE STUDY
Owerri municipal council
Owerri municipal council officially came into existence on December 5, 1989 during the regime of Gen. Ibrahim Babangida. It is striking to note that the new Owerri urban district was created under eastern region legal notices No 218 of 1955. Further in 1958 it was renamed country council and in 1960 it was properly called local government. In 1966, East central state was created and the local system was abolished and civil war broke out.
After civil war, in 1971 the local administration was called decision administration and Owerri division was created comprising the present Owerri municipal, Ngor okpala L.G.A, Owerri north L.G.A and Owerri west L.G.A. in 1976, under the murtala Mohammed state creation exercise, Owerri suddenly

bounded bank into prominence and it regained its lost glory by becoming the capital of Imo state with the development trappings associated with the New role.
Another major local government review headed by chief Arthur mbaneto was carried out during the regime of Gen. Ibrahim Babangida and on December 5, 1989, the federal government gave Owerri urban, the original Owerri people a municipal council area which comprises the following villages: umuoronjo, Amawom, umuonyeche, umuodu and umuonyina popularly called Owerri- nchi-ise. Other areas included are: The federal and state housing estates, as well as commercial and industrial layout. Owerri municipal is now seriously assuming the regional head quarters of the East, with the federal government locating most of its zonal offices in Owerri, viz: customs, immigration, equally followed suit because of its strategic location in the heart of Imo state.
According to 2005 national causes figure, Owerri municipal is tentatively put to be 127, 213, where 62, 990 are male and 64, 223 are female. However, this projection has almost been double. Owerri municipal council is strategically located at the center or heart of Imo state. This has caused its dominance of other semi-urban L.G.A. In Imo state to suffer and upsurge in population and traffic congestion everyday. Reasonably, the federal and state government as well ass non-governmental and international organizations intervene appropriately: its peaceful nature will result to total clean-lines as it has assumed for now.