Accounting and Finance

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Welcome to the Accounting and Finance Community at the School of Business, Mzumbe University (SoB MUIR)! Our Institutional Repository is a central hub for academic excellence, featuring a wide range of research, theses,dissertations, and contributions from our faculty and students. We focus on the latest in financial management, accounting, and economic trends, encouraging researchers, students, and professionals to explore our work. Our community is dedicated to advancing knowledge, fostering innovation, and highlighting our achievements in accounting and finance. Join us as we contribute to the evolving field of financial education and research.

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The learning experiences of batik and tie and dye small-scale exporters in Arusha and Dar es salaam, Tanzania
(African Clothing and Footwear Research Network, 2005) Rasheli, G. A; Mosha, Goodluck E.
This study used the Learning Organization theoretical framework. It aimed at looking at how tie and dye and batik entrepreneurs are learning to export their products in both regional and international markets. The units of enquiry in this qualitative research were small-scale batik and tie and dye garment producers as well as firms involved in production and export. Arusha and Dar es Salaam were selected as areas of study because of their activeness in batik and tie and dye business. Seven cases from each town were selected with the snowballing technique being used, where one respondent was asked to identify the other. Primary data was collected for analysis using a structured interview guide. The results showed that the more experienced entrepreneurs learn how to export more than the relatively inexperienced ones, and there were more women entrepreneurs than men. That exporting had more children and dependents than those who sold locally. They learn e d to export to g e t m o re income to support their families. The impact of education was not clear as entrepreneurs with different levels are involved in export. Most export to the East African region. Entrepreneurs learn to export by participating in exhibitions, promoting their business, dealing with intermediaries and training received in their former jobs, including UNIDO, SIDO, ADAT, Tabata Development Fund and Anglican Development Agency. They also learn through work experience, networking, export procedures, business employees and also through solving customers’ complaints. Local authorities in areas where the batik business is active should help in training these people on marketing especially regionally and internationally. NGOs dealing with entrepreneurship should focus their training on marketing issues instead of dealing with production only. Since the study is a qualitative one with a small sample, a further survey is needed to quantify the results to make more general conclusions.
Financial sustainability of rural microfinance institutions (MFIs) in Tanzania
(University of Greenwich (London), 2010) Nyamsogoro, G. Daniel
Abstract An enduring problem facing microfinance institutions is how to attain financial sustainability. Several studies have been conducted to determine the factors affecting financial sustainability of microfinance institutions using large and well developed MFIs in various countries. However, no such study has been conducted in rural Tanzania where majority of MFIs are small, most of which are member-based (cooperatives). Consequently, the factors affecting their financial sustainability are not known. This study, therefore, was set to bridge this knowledge gap. This study followed a quantitative research approach using panel data regression as the main data analysis technique. The study was based on four years primary and secondary data obtained from 98 sampled rural MFIs in Tanzania. We found that microfinance capital structure, interest rates charged, differences in lending type, cost per borrower, product type, MFI size, number of borrowers, yield on gross loan portfolio, level of portfolio at risk, liquidity level, staff productivity, and the operating efficiency affect the financial sustainability of rural microfinance institutions in Tanzania. The study makes the following key contributions to knowledge in addition to determining factors affecting financial sustainability of rural microfinance institutions in Tanzania: First, the study reveals that there exists simultaneous causality relationship between financial sustainability and breadth of outreach. When this relationship is not considered in determining factors affecting financial sustainability there may be inconsistent evidence on the existence of mission drift. Second, it unveils the trade-off between financial sustainability and breadth of outreach with regards to the minimum loan size when group lending is used. That is, larger loan size, while improves profitability, reduces the breadth of outreach. Third, the study provides empirical evidence that the impact of a particular lending type on microfinance institution‟s profitability will depend on the term to maturity and number of instalments reflected in its lending terms. Fourth, consistent with the institutionists‟ view, the study provides empirical evidence that financial sustainability of microfinance institutions improves their breadth of outreach. Lastly, the study documents the applicability and limitations of previous studies to rural microfinance institutions in Tanzania.
Financial sustainability of rural micro finance institutions (MFIs) in Tanzania
(The University of Greenwich, 2010) Nyamsogoro, Ganka Daniel
Abstract An enduring problem facing microfinance institutions is how to attain financial sustainability. Several studies have been conducted to determine the factors affecting financial sustainability of microfinance institutions using large and well developed MFIs in various countries. However, no such study has been conducted in rural Tanzania where majority of MFIs are small, most of which are member-based (cooperatives). Consequently, the factors affecting their financial sustainability are not known. This study, therefore, was set to bridge this knowledge gap. This study followed a quantitative research approach using panel data regression as the main data analysis technique. The study was based on four years primary and secondary data obtained from 98 sampled rural MFIs in Tanzania. We found that microfinance capital structure, interest rates charged, differences in lending type, cost per borrower, product type, MFI size, number of borrowers, yield on gross loan portfolio, level of portfolio at risk, liquidity level, staff productivity, and the operating efficiency affect the financial sustainability of rural microfinance institutions in Tanzania. The study makes the following key contributions to knowledge in addition to determining factors affecting the financial sustainability of rural microfinance institutions in Tanzania: First, the study reveals that there exists a simultaneous causality relationship between financial sustainability and breadth of outreach. When this relationship is not considered in determining factors affecting financial sustainability there may be inconsistent evidence on the existence of mission drift. Second, it unveils the trade-off between financial sustainability and breadth of outreach with regards to the minimum loan size when group lending is used. That is, larger loan size, while improving profitability, reduces the breadth of outreach. Third, the study provides empirical evidence that the impact of a particular lending type on microfinance institution‟s profitability will depend on the term to maturity and number of instalments reflected in its lending terms. Fourth, consistent with the institutionists‟ view, the study provides empirical evidence that financial sustainability of microfinance institutions improves their breadth of outreach. Lastly, the study documents the applicability and limitations of previous studies to rural microfinance institutions in Tanzania.
Trade credit in the Tanzanian rice market
(University of Groningen, SOM research school, 2010-10-14) Kihanga, Ernest P.
To access "abstract" for this Thesis use this link : https://research.rug.nl/en/publications/197b89a2-c17c-4d00-80c7-b2ebe4c0bb12 Downloaded from the University of Groningen/UMCG research database (Pure): http://www.rug.nl/research/portal. For technical reasons the number of authors shown on this cover page is limited to 10 maximum.
The Role of internal audit unit in safeguarding the public funds in local government authorities: The case of Sumbawanga Municipal council
(Mzumbe University, 2012) Mbasya, Ernest Baroma
The study aimed at looking on the role of Internal Audit Unit on Safeguarding Public Funds on Local Government Authorities ; the case of Sumbawanga Municipal Council. Safeguarding Public Funds on Local Government Authorities depends much the level of performance of the management and the IAU is supposed to check if the Management perform its duties according to the controls and guidelines, so the report of the IAU must reveal the level of performance of the management so if there is weaknesses we expect the IAU to be in the first line to reveal such weaknesses. Though there is IAU in SMC but still do not reveal the weak performance of the management of SMC. The objectives of the study were to identify the functions of the IAU in SMC so as to check why it does not reveal the weak performance of the management which causes the misuse of the public funds. The level of competence of the internal auditors was examined to see if they are competent to perform their work. The level of independence also was examined to check if they are independent in mind and appearance. The level of objectivity was examined to see if the internal auditors are free from conflict of interest in their normal works. Data for the study were collected by means of interviews and sample questionnaires in which a total of 90 respondents participated in the study. Research findings indicate that IAU has not done enough to safeguard Public funds in local governments because the section instead of ensuring that public funds are properly safeguarded , it ends-up with reports which do not reveal the misuse of the public funds so that many stakeholders recently decide to rely much on Safeguarding Public Funds like the CAG’s report. Based on these findings, it shows that the IAU in Sumbawanga Municipal Council failed to reveal the misuse of the public funds so as to make sure that the government officials accountable in various ways on safeguarding the public funds. Therefore, there is a need to check out the reporting channel of the IAU so as enable them to be more independent in their work for example the IAU have to report to the Internal Auditor General and not Municipal Director. There is a need also to provide on-job training so as to increase the level of competence and provision of proper guidelines and other support like adequate financial ability.
The role of internal audit in improving the performance of local government authorities: The case of Morogoro Municipal council
(Mzumbe University, 2013) Masui, Denis S.
Local Governments in Tanzania have been featured with gross financial mismanagement to the extent that the government had decides to institute periodical restricting and reform programmers. In the existence of integrity, effectiveness and efficiency in utilization of resources, the council can easily obtain unqualified audit opinion from CAG. Failure to obtain unqualified audit reports may take the council into – access to LGCDG and therefore gives a negative impact to the authority in terms of service provision. It was that reason therefore, that prompted to carry about a study to assess whether local authorities effectively implement financial management systems by conducting a study at Morogoro Municipal Council. The research methods employed were: - questionnaires observation, and interviews. The researcher employed simple selection techniques. A sample of 45 respondents was selected from a total population of units of inquiry. The study findings reveled that; still there some weakness in terms of enforcing procedures and principles guiding the authorization and access of organization’s assets and documents. Also the study found an increasing rate of improperly vouched expenditure year after year and improper approvals, improper documentation and attachment. The study also found existence of over expenditure on some common items like fuels and allowances, caused by insistence of a reliable computerized system for budgeting and accounting activities. On the part of the functioning of the internal audit unit, the findings revealed a weakness on reporting channel. The study finally found that, the financial management systems in local government Authorities are slightly effective, so for improvement, the study recommends:- the immediate computerization of the accounting and budgeting systems, that performance. Finally; the council internal auditor should report direct to councilors and to ministry responsible. The researcher really hopes that the output of this research study shall be of practical use to other individual scholars, Institutions of higher learning and Local Government Authorities of Tanzania.
Impact of internal controls on execution of payroll system :A case study of Ministry of Finance and Economic Affairs – Zanzibar (MoFEA)
(Mzumbe University, 2013) Ahmada, Ridhwan I.
Many of the organizations’ activities are not attained due to poor or ineffective of internal controls system; with proper internal controls however guarantee the efficiency of a particular system (activities). Therefore, this study aimed at assessing the impact of internal controls on execution of payroll system to the Ministry of finance and economics affairs Zanzibar (MoFEA). The research methodology used case study research approach. A sample size of 60 respondents who comprised of MoFEA’s employees and other staffs working with the government of Zanzibar was involved. The methods of data collection involved both primary and secondary sources. Primary data were collected by using questionnaires and interview guide whereas documentary review was used in secondary method. The Statistical Package for Social Sciences (SPSS) software, and simple calculations by calculator were used to analyze the data where simple frequencies and percentages were created. The study findings observed that, internal controls were available on the payroll system of the organization; these were 78.3% of the respondents. Specifically 83.3% said that pay slips are issued, 65% segregation of duties is available, 95% block of salaries is exercised and 80% government payroll review is too exercised. Also the study revealed that some payroll activities were good enough for the efficiency of payroll system. In addition to that, it was found that there was compliance of internal controls in relation to the payroll system through punishments and having responsible parties to monitor the compliance. The study however portrayed that, almost 31.7% of the total respondents said that there were some weaknesses in relation to internal controls over payroll system. Following these results the researcher therefore calls for the Ministry to analyze and take the corrective measures with those weaknesses of internal controls over payroll system. The ministry also should pay salaries based on time (attendance) as this will discourage employees being absent from their work, independent check by the auditor and governments’ payroll review should be carried on in a scheduled manner. i.e. at a regular interval.
Effect of share split on the shareholders’ wealth; A case of the Dar es Salaam Stock Exchange (DSE)
(Mzumbe University, 2013) Rosemary, Luena
The study aimed at analysis the effects of share split on the shareholders’ wealth; a case of Dar es Salaam Stock Exchange (DSE). In attaining this, four specific objectives were set ascertained; to explore reasons for share split, to determine whether price of split share follow any definite identifiable pattern, to analyze pros and cons pertaining to share split, and to assess the effect of share split on return to shareholders. The study deployed a case study research design and conducted at the DSE where attained 94 percent response rate as 13 respondents were from DSE Staff, 8 respondents from Licensed Brokers and 96 respondents from Shareholders. Again, purposive and snowball sampling techniques were deployed in getting data from a total sample size of 117 respondents. As far as research findings is concerned, the study attained fully its specific objectives that revealed reasons for share split as psychological, increasing stock liquidity, withdraw of principal investor and speculative factors. Likewise, pros and cons pertaining to share split found to be price affordability, wider ownership base, fulfilling investors’ expectation, strengthening company’s image and rival competition. Among the cons included some investors perceive split share as cheap, cost of split, listing requirements and split shares being prone to unwanted investors. Moreover, the study recommended principal investors to think critically before deciding to withdraw their shares as would sometimes affect the general conduct of investing companies, while effectiveness of the Tanzania capital market was suggested as area for future study.
Factors obstructing local government authorities from attaining estimated revenue collection goal: The case of Arusha City Council
(Mzumbe University, 2013) Katunzi, Magdalena Z.
The study set out to evaluate the factors obstructing Local Government Authorities from achieving estimated revenue collection goals. Specifically the study aimed at identifying the economic activities undertaken in the LGAs and to evaluate the relationship between the identified economic activities and LGAs’ major own revenue sources, evaluating LGAs’ own source revenue collection methods, evaluate the trend of LGAs’ actual revenue collections in past four years and pointing out the factors behind LGAs’ failure to meet their estimates in actual revenue collections. The research design used was the case study taking into account the Arusha City Council (ACC). The sample size of 20 respondents was used while the sampling procedure applied was purpose sampling technique. Both primary and secondary data were obtained through questionnaires and interview for primary data and documentary review for secondary data. The data processing was done using the Statistical Package for Social Science (SPSS), while data analysis was been undertaken using both Descriptive Statistics and Inferential Analysis. Findings of the study revealed some of the economic activities undertaken in ACC to be Business activities comprised of large scale businesses, medium businesses and petty businesses, Tourism activities such as tour guiding, tourism hotels and tourism transportation. The some of the major sources of revenue of ACC were Service levy, Market levy, Guest house levy and Hotel levy, Public parking fees and Posters and billboards fee, where by two methods which are own council revenue collectors and outsourcing were in use. Also, the findings of the study concluded that Central Government's directives, weak and unbinding contracts given to revenue collecting agents to be some of the factors causing low revenue collections by LGAs. And finally the researcher recommended that, PMO-RALG to assist LGAs to have Taxpayers data base and as soon as possible to approve the draft by-laws submitted by LGAs. LGAs are argued to prepare bounding contracts to their revenue collecting contractors to minimize losses resulting from contractors default while the Central Government should respect LGAs’ autonomy.
Factors determining the growth of savings and credit co-operative’s in Tanzania: The case study of SACCOS operating in Morogoro urban district, Morogoro region Tanzania
(Mzumbe University, 2013) Kibasa, Emma M.
The purpose of the study was to identify factors determining the growth of Savings and Credit Co-operatives (SACCOS) in Tanzania. The main objective of the study was to identify the factors determining the growth of SACCOS in Tanzania. Specific objectives were: to appraise the influence of savings culture commonly used by SACCOS, to map the effects of economic activities to SACCOs members on the growth of their cooperatives, to determine the contribution of management experience on development of SACCOs and asses the role of actual credibility offered by Financial Institutions to members on growth of their co-operatives. The study used purposive sampling techniques in choosing a sample of 60 respondents. Data were analyzed by computer software “SPSS” whereby, quantitative information was obtained by a way of tabulations and rankings polished by the use of frequencies and percentages whereas frequency tables and pie charts used to present qualitative part of the study results. Results show that: Saving culture among SACCOs‟ members prosper growth of their cooperatives – in the sense that many shares are created and hence liquidity. Economic activities also play a great role as it enables members to return both principal and interest of the loaned amount on time. Furthermore, managements experience cited as a vital factor contributing the growth of SACCOs. The findings show most members of the SACCOs are lacking knowledge on co-operatives, thus study recommends that both knowledgeable SACCOSs‟ members and Financial Institutions increase their active participation in providing education to other member of SACCOSs amid credit provision and investment opportunities, to find the way which can motivate members on saving culture, like to increase interest on saving and charge reasonable amount of interest on loans so that in turn, co-operatives flourish and survive for longer than ever.
Assessment of value for money in ASDP projects the case of Korogwe Town Council
(Mzumbe University, 2013) Liwa, Erhard C
The study focused on the assessment of value for money in ASDP projects. Specifically the study was intended to assess the performance of ASDP projects mainly on construction projects in order to determine whether the allocated resources have been spent effectively, economically and efficiently. The study was conducted at Korogwe Town Council. The researcher employed a case study design. The approach used in drawing the representative sample for the study was simple random sampling technique and judgmental sampling technique. A sample of sixty five people formed the total sample size of this study. In carrying out the study, the researcher collected data by using multiple methods including structured questionnaires, interviews, documentary review and participatory observations. Data were analyzed through quantitative methods which involved the use of percentages and tabulation. The researcher based on the greater number and percentage of respondents to draw conclusion. Thus, the researcher decided to take 70% or above as decision criteria basing on the number of persons who responded over the total number of persons respond on the questionnaires provided to them. The analysis showed that almost all procurement of all visited projects was done at the community level with full participation of Community Management Committees and with support from ASDP management team of KTC. The study found that the community members were not contributing effectively and on a timely manner the agreed financial contributions. There were no environmental measures in implementing the projects since the cost of the environmental measures were not reflected in the budget. The study revealed that implemented projects observed the allocated resources were spent and resulted in effective, economy and efficiency outcome. The study recommends that communities should make financial contribution within agreed time before implementation starts. This will help to reduce the time implementation being behind schedule and unproductive projects.
Assessment of the effectiveness of the of internal audit unit in the local government authorities: the case study of Ruangwa District Council
(Mzumbe University, 2013) Kalalula, Jumanne M.
The role of public sector internal auditors include providing assurance and consulting services that specific legislation, standards, procedures and regulations are being adhered by the public organization (s) and to evaluate the financial statements to determine whether they fairly present the financial position of the unit being audited. Providing assurance is the core contribution of the internal audit activity to risk management. The internal auditor typically provides assurance on: Risk management processes, including their design and how well they are working, Management of key risks, including the effectiveness of the controls and other activities and reliable and appropriate assessment of risks and reporting of risk and control status The internal audit may also provide consulting services that improve organizational risk management and control processes. The main objective of the study was to assess the effectiveness of the availability of internal audit unit in the local government authorities in financial management system of the LGAs, find and whether the internal audit has fulfilled the purpose for its establishment and to establish strength, weaknesses, opportunities and threats if any. Having evaluated the above situation, the study came up with viable recommendations for improving the auditing system. The statistical summary of responses result indicates that, by making use of detail questionnaire and interviews, there are no sufficient and highly skilled staffs, 80 percent, no effort is made to integrate and coordinate audit evolution activities, 80 percent and to develop and implement appropriate framework to measure internal audit performance, 90 percent. The study further showed that Ruangwa District council has audit committee; respondents still don‟t believe that the audit committee has the right possession of knowledge, experience and representation of major stakeholders. Technology as a tool for auditing is almost not used, 98 percent, budget for IAU (own source) is also not allocated, 80 percent and it is not common to out-source or co-source for audit services, 100 percent when staff lacks knowledge in the audit area. On the basis of these findings the researcher made the following recommendations to internal audit unit and management, to Management; various training to internal auditors as per requirements, Implementations of various recommendation found in audit reports and Sufficient funding to IAU. On the other hand to Internal Auditors; managing the internal audit activity, unrestricted access, stakeholders support to IAU and availability of an audit manual to the whole organization.
Influence of working capital management in organization performance: A case study of Zanzibar Social Security Fund (ZSSF)
(Mzumbe University, 2013) Akida, Hamad
Working capital management has lately been a hot topic since the financial crisis of the late 2000’C, Companies search for liquidity and operational efficiency through minimizing their investment in working capital. How can influence of working capital management affect organization performance? This has been studies in this thesis. Specifically, the study was set in order to meet three objectives, namely; to analyze trend of Net Working capital at Zanzibar Social Security Fund, to assess the efficient of Net Working capital at ZSSF and to examine the contribution of net working capital to organization performance at ZSSF. To achieve these objectives, the study used a sample of 50 respondents who were randomly selected. Data collected by use of questionnaires, interviews, observation and documentary reviews were computed and analyzed by using SPSS computer software and Excel program. Tables and figures were used to helps the presentation of the findings. The efficient of working capital management can be determined by the working capital components such as cash, account receivables, account payables, inventories and other receivables. By testing five independent variables with organization performance by reducing cash, inventory and efficiency management of other components. The main findings indicate that ZSSF consider working capital management an important issue, yet some challenges appeared on efficiency on the payment of monthly pensionable amount to its pensioners. It is evident that the respondents placed greater emphasis or importance on the analysis of trend of net working capital, assessing the efficient of net working capital and contribution of net working capital to organization performance. Some effort is made to manage cash, accounts receivable, inventory and accounts payable and other receivables independently of each other, however given the theory of working capital management; there may be room for improvement regarding the strategies, tactics and techniques used to manage these components. Furthermore, the findings suggest that working capital management is also strategic as it impact on the liquidity, solvency/bankruptcy, efficiency, profitability and shareholder wealth maximization of the business. In light of the findings, it was recommended that ZSSF should improve the process of payments to its members and should ensure that benefits are paid timely and to the right person. Also the comparative study of the research should be conducted in order to assess the influence of working capital management on the performance of various pension funds operated in Tanzania. As part of this study a further area for research should be empirical investigations into the impact of working capital on company performance specifically in the service sector industry, and here the case study approach could be considered.
Determinants of stock market participation by individuals: The study of Dar-es-Salaam Stock Exchange
(Mzumbe University, 2013) Marobe, Noel
The importance of well-functioning stock markets on economic development cannot be overemphasized. Since the early 1980’s, many African countries embarked on the establishment of these markets. The citizen’s participation however, is still very minimal. The main objective of this study was to determine the factors that influence stock market participation in Tanzania. Specifically, the aim was to examine the influence of social, economic, and financial literacy factors. The study applied a survey approach. Both purposive and incidental data collection techniques were employed to administer the questionnaires. A total of 173 respondents completed the instrument. The findings revealed that income, occupation, education and age were significant explanations of the determinants of stock market participation in Tanzania. On the other hand financial literacy and gender were found to be insignificant. The analysis of the findings was based on cross-tabulation, chi square and binary correlation under SPSS version 20 package. This study recommends that DSE needs to enhance market participation, by providing education and training to students and the public so as to increase awareness on stock issues in order to attract more participants to buy and sell shares of companies listed at the Dar-es-Salaam Stock Exchange.
Impact of corporate governance toward organization performance : A case of Tanzania Portland Cement Company Limited
(Mzumbe University, 2013) Mavika, Alex F.
The study investigated the impact of corporate governance toward organization performance with the case study of Tanzania Portland Cement Company Limited. To achieve this, specific objectives were formulated including (i) to assess the effect of board of directors‟ independence on effectiveness of corporate governance practices, (ii) to assess the effect of board of directors‟ composition on effectiveness of corporate governance practices and (iii) to assess the effect of board of directors‟ leadership structure on effectiveness of corporate governance practices. The study was carried out at the Tanzania Portland Cement Company limited. A sample of 120 respondents was selected and data collected through questionnaires, interview and FGDs. Data were analyzed both qualitatively and quantitatively. The study found out that the non-executive directors influence to some extent executive directors duties; annual audited reports including half-yearly reports; shareholders to exercise their right to vote on directors‟ proposals; and the existence of non-executive directors influences all decisions made by voting at TPCC Other findings include more non-executive directors on the board relative to executive directors and Board size influences organization performance in public listed companies in Tanzania. However, these findings are not assertive since they scored below the ≥90% decision criterion. Lastly, the study found that the separation of the two highest level positions in a company: those of the chairman of the board of directors and of the CEO have impact on corporate governance toward organization performance. The study recommends that within the public sector, government bodies should develop significant body of material which addresses corporate governance issues. It is therefore recommended to other scholars/researchers to conduct studies on the following variables which this research was not able to cover due to limiting factors; Technology, Quality of Staff and Company Policy
The impact of Tanzania social action fund on vulnerable household's poverty reduction: A case of Kigoma District Council
(Mzumbe University, 2013) Nkala, Zubeda Eshton
This study was to determined the impact of on reduction of poverty in vulnerable households. The data were collected from two villages viz Mgaraganza and Mwamgongo of Kigoma district council and from the TASAF office of Kigoma district council. The specific objectives were to identify economic activities performed by vulnerable households, to ascertain types of socio-economic services which were accessed by recipient households for the TASAF II. Others were to determine success factors and challenges which were associated with the implementation of TASAF II and to suggest measures for improving contribution of TASAF II in reducing poverty to vulnerable groups. Thirty two beneficiaries were interviewed using structured questionnaire. Furthermore, a checklist was used to discuss together with Elders and Leaders from those two villages. The analysis was carried out using the statistical package for social sciences (SPSS) computer software where mean, frequencies and percentages were established. The results indicate that about 97 percent of the respondents interviewed had economic activities before project. Most of them were engaged in Agriculture (i.e. cassava, maize and beans production). Concerning TASAF II, they reported that the project performed better by enabling them to provide fees, food, medical and uniforms services to orphans at secondary schools. In general, majority of respondents in the study area agreed on project success. Furthermore, they agreed to face challenge of collecting grasses for cattle feeding. Even Elders keeping most vulnerable children faced the same problems. Further, they argued that for those groups engaged in fishing activities, they also faced challenges because of decrease of fish and dagaa in Lake Tanganyika that led into low income as compared to the target income. Following for the findings it is recommended that the support for vulnerable should be provided directly at a family level rather than groups. Further, any project pertaining to poverty alleviation through conventional approaches should empower the beneficiaries through certain training particularly on how best they could manage the concerned project
Impact of internal controls on execution of payroll system : A case study of Ministry of Finance and Economic Affairs – Zanzibar (MoFEA)
(Mzumbe University, 2013) Ahmada, Ridhwan I.
Many of the organizations’ activities are not attained due to poor or ineffective of internal controls system; with proper internal controls however guarantee the efficiency of a particular system (activities). Therefore, this study aimed at assessing the impact of internal controls on execution of payroll system to the Ministry of finance and economics affairs Zanzibar (MoFEA). The research methodology used case study research approach. A sample size of 60 respondents comprised of MoFEA employees and other staff working with the government of Zanzibar was involved. The methods of data collection involved both primary and secondary sources. Primary data were collected by using questionnaires and interview guides whereas a documentary review was used in a secondary method. The Statistical Package for Social Sciences (SPSS) software, and simple calculations by calculator were used to analyze the data where simple frequencies and percentages were created. The study findings observed that, internal controls were available on the payroll system of the organization; these were 78.3% of the respondents. Specifically, 83.3% said that pay slips are issued, 65% segregation of duties is available, 95% block of salaries is exercised and 80% government payroll review is too exercised. Also the study revealed that some payroll activities were good enough for the efficiency of the payroll system. In addition to that, it was found that there was compliance of internal controls in relation to the payroll system through punishments and having responsible parties to monitor the compliance. The study however portrayed that, almost 31.7% of the total respondents said that there were some weaknesses in relation to internal controls over payroll system. Following these results the researcher therefore calls for the Ministry to analyze and take the corrective measures with those weaknesses of internal controls over payroll system. The ministry also should pay salaries based on time (attendance) as this will discourage employees being absent from their work, independent check by the auditor and governments’ payroll review should be carried on in a scheduled manner. i.e. at a regular interval.
Value Added Tax (VAT) compliance through use of Electronic Fiscal Device (EFD) in Tanzania : A case study of Musoma district in Mara
(Mzumbe University, 2013) Gwimile, Shaibu Rahibu
This study investigated about Value Added Tax (VAT) compliance through use of Electronic Fiscal Device (EFD) in Musoma District in Mara Tanzania. The study specifically examine the effect of EFD in filling, remittance and refund process to VAT collection, the effectiveness and efficiency of EFD in VAT collection, the trend of VAT compliance before and after use of EFD. A total of 40 respondents from TRA staff and VAT registered traders were used. The sample category involved 1 ARM - Audit, 1 ARM- Debt Management and Compliance Monitoring, 6 operational Staff obtained through purposive sampling and 32 VAT registered traders. The study employed case study research designs, while the research approach involved qualitative and quantitative research techniques. The data were gathered through closed ended questionnaires and semi structured interviews. Data were analysed through quantitatively and qualitatively. Quantitative data was analysed by using SPSS version sixteen, descriptive and inferential statistic such as mean, standard deviation and pie chart were also used to present data. Qualitative data was analysed by using thematic and content methods and presented by statements. However, the data collected from interview still reveal that the use of EFD continue to face the challenge like lack of accountability and poor compliance to rules and regulation, lack of culture of paying tax voluntarily, ignorance and negligence of the VAT registered traders to comply with VAT Act together with its regulations. Moreover, data from interviews depicted various strategies for effective use of EFD in VAT collection like corroboration with other international agencies, improving the quality of the paper used in the EFD machine, educating taxpayers on the advantages of using EFD machine to their business and tax purpose in general, enforcement measures, provide motivation and incentives to employees and improve employee‟s wages and working conditions. The study is recommended to the TRA, Ministry of Finance and Economic Affairs and to the policy makers.
Effect of capital structure on performance of microfinance institutions: A survey of SACCOS’s in Shinyanga Municipal council
(Mzumbe University, 2013) Mwakabumbe, Christina A.
This study aimed at assessing the effect of capital structure on performance of microfinance institutions in Shinyanga Municipal Council. The specific objectives for the study were to examine the relationship of cost of capital and profitability, also efficiency and effectiveness of SACCOS in relation to their capital structure. The researcher used instruments such as questionnaires, documentary review and interview to collect the data from respondents who were 37 members, 11 accountants, 7 managers, 10 chairpersons and 4 (four) cooperative officers. The qualitative data collected were analyzed using thematic approach while quantitative data were analyzed using descriptive statistics. Research findings reveled that, SACCOS in Shinyanga municipal use debt in large proportion than equity to finance their activities. As a result cost of capital (Weighted Average Cost of Capital) is very high compared to the profit generated. The profit generated is low for debt/equity financed SACCOS due to high cost of fund but is increasing for equity financed SACCOS due to low cost. Results also show that debt financed SACCOS provide various services to their members and in large quantity than equity financed SACCOS. Debt repayment is on time although others fail to pay and collapse for debt financed SACCOS but they are able to reach many people although excludes the very poor. However, results show that, management of SACCOS (whether it is Debt/Equity financed or Equity only financed) determines the performance of SACCOS especially in decision making. It can be recommended from the findings that, government should set regulations which limit amount to be borrowed by the SACCOS and interest rate charged by financers. Also SACCOSS’ members should assess benefits and challenges of different types of capital structure before choosing. But also management team selected should be good advisor for good performance of the SACCOS.
The effects of computerized accounting system on auditing process: A case study of Mtwara District council
(Mzumbe University, 2013) Kombo, Bhourat
The main objective of this study was to assess the effects of computerised accounting system (CAS) on auditing process. Specifically the study aim to examine the contributions of CAS to the effectiveness and efficiency of the auditing process, to examine the factors affecting effectiveness and efficiency of auditing process in CAS, to identify problems organisation faces in CAS and to identify the problems encountered with auditing in CAS. The study was carried out at Mtwara district council (MDC), with sample size of 30 people who were purposely selected. Data were collected through questionnaires, observations and documentary. The collected data was processed using the statistical package (SPSS). Descriptive statistics and Cross tabulation were used to analyses data for the purpose of understanding the main characteristics of the research variables. The findings of this study revealed that the contributions of CAS to the effectiveness and efficiency of the auditing process is moderate. Knowledge of CAS, quality of audit planning, accountability concerns, responsibility awareness, ethical pressure, stakeholder forces, completeness of audit risk judgments and appropriateness of sample selected are the factors affecting effectiveness and efficiency of auditing process in CAS. Further more the findings indicated that, MDC encountered with the following problems in CAS; costs, competent personnel needs, the employee sharing password, the introduction of viruses, the loss of audit trail, lack of segregation of duties, and the potential for observing errors or fraud in CAs is less. And finally the researcher recommended that, the management should put much effort on training staffs to empower their skills and ability to work under computerized environment, and the management should also emphasize on segregation of duties in order to make internal control system more strong.