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TABLE OF CONTENT
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TITLE
CERTIFICATION
DEDICATION
ACKNOWLEDGEMENT
TABLE OF CONTENTS
CHAPTER ONE
BACKGROUND OF THE PROBLEM 1
STATEMENT OF PROBLEM 5
OBJECTIVES OF THE STUDY 6
SIGNIFICANCE OF THE STUDY 7
SCOPE AND LIMITATION OF THE STUDY 7
RESEARCH QUESTION 8
PLAN OF THE STUDY 8
DEFINITION OF TERMS 9
CHAPTER TWO
2.1 INTRODUCTION
2.2 TYPES AND NATURE OF BUSINESS ORGANIZATION15
2.3 SOURCES OF FINANCE
2.4 FACTOR AFFECTING SOURCES OF FINANCE TO A BUSINESS ORGANIZATION IN NIGERIA
2.5 SOLUTION TO THE FACTOR AFFECTING SOURCES OF FINANCE TO BUSINESS ORGANIZATION IN NIGERIA
CHAPTER THREE
3.1 POPULATION
3.2 SOURCES OF DATA
3.3 METHOD OF DATA COLLECTION
3.4 DATA ANALYSIS
CHAPTER FOUR
4.1 INTRODUCTION
4.2 PRESENTATION OF DATA
4.3 ANALYSIS OF DATA
4.4 INTERPRETATION OF ANALYSIS
4.5 SOURCES OF FINANCE TO INTERNATIONAL TOBACCO COMPANY PLC
CHAPTER FIVE
5.1 SUMMARY
5.2 CONCLUSION
5.3 RECOMMENDATION
REFERENCE
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE PROBLEM
Business finance is concerned with how to manage efficiently, the financial resources of a firm in such a way to achieve the welfare maximization objective of the owner’s equity. The amount of funds needed to finance a firm is affected by several factors apart from the fact that capital is very scarce. Although the cost obtaining that capital is raising daily in a fluctuating manner, yet the future, returns anticipated from the utilization of capital still remain undertrained.
Similarly, the value of anticipated returns are reading with time when compared with the same amount of money to be realized now.
The primary function of the finance manager is to ensure that adequate funds are available for financing at the right source. Moreover, efficient utilization of the acquired fund is another major consideration that needs to be well evaluated. Before funds are committed to various project, it is necessary or it is highly important to be sure that the rate of return of investment on the proposed project will be greater than the cost of capital and that the net benefit should be more than cost
Product As An Important Tools Of Improving The Profitability Of An Organization
Open Market Operation As An Instrument Of Monetary Policy In Nigeria.
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Generally, there is a great need for planning and controlling of financial resources. Organization wants to remain in the future business environment must not neglect the aspect of adequate liquidity and profitability. Management must be able to foremost favourable the effect of any changes in the government policies.
A business organization is a legally recognized organizational entity designed to provide goods and services to consumers business are predominant in capitalist economics, most being privately owned and formed to eran profit to increase the wealth of owners.
The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Notable exception include cooperative business and state-owned enterprises. Socialistic systems involves government, public or worker ownership of most sizable business.
The etymology of business relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term “business” has at least three usages depending on the scope, the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as “the record business” and compound forms such as agric business, or the community of suppliers of goods and services. However, the exact definition of like much else in the philosophy of business is a matter of debate.
Business studies, the study of the management of individuals organizing to maintain collective productivity toward accomplishing particular and creating and productive goals (usually to generate profit), is taught as an academic subject in many schools.
Finance is used by individuals (personal finance) by government (public finance), by business (corporate finance) as well as by a wide variety of organization including schools and non-profit organization. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional setting.
Corporate finance is area of finance dealing with the financial decision corporations make and the tools and analysis used to make these decision. The primary goal of corporate finance is to maximize corporate value while reducing the firm’s financial risks. Although its principal different from managerial finance which studies the financial decision of all firm, rather than corporations, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms.
The discipline can be divided into long term and short term decision and techniques. Capital investments decision are long term choices about which projects receive investment whether to finance that investment with equity or debt, and when or whether to pay dividends to shareholders. On the other hand, the short decisions can be grouped under the heading “working capital management”.
This subject deals with the short-term balance of current assets and current liabilities, the focus here is on managing cash investories and short term borrowing and lending (such as the terms on credit extended to customers). The terms corporate finance and corporate finance are also associated with investment tanking. The typical role of an investment banker is to evaluate investment projects for a bank to make investment decisions.
Capital decisions are longterm corporate finance decision relating to fixed asset and capital structure. Decisions are based on several inter-related criteria. Corporate management seeks to maximize the value of the firm by investing in projects which yield a positive net present value when valued using an appropriately.
If no such opportunities exist, maximizing shareholder value dictates. Capital investment decision, thus comprises an investment decision, a financing decision and a dividend decision.
STATEMENT OF THE PROBLEMIn spite the important role of business organization in Nigeria, the important role of source of finance to a business organization as a number of problem continue to the government and development of business organization in Nigeria.
To know how firm hold its assets and to composition its liabilities.
To measure portfolio performance
To identify relevant objective and constraints: Institution or individual goals, time horizon, risk a version and tax considerations.
To identify inadequate capital and funds for investment in research, development, building and maintenance of infrastructure.
To know how much to pay as dividends and how to raise fund and in what amount.
To identify how large should the firm be and how fast should it grow.
Objectives of the study
This study intends to examine the various sources of fund in International Tobacco Company Ilorin.
This study will examine the impact of such finding on the profitability.
It will do a comparative financial analysis with another major competitor Tobacco Industry.
SIGNIFICANCE OF THE STUDY
The significance of finance in any business set up can not be overemphasized. As mentioned earlier, finance is the live wire of all business organization.
The significance of the study is as a result on how fund is raised by many Nigerians that the company is the most buoyant and profitable sector to the company.
To explain the goals of International Tobacco Company.
They belive strong that the company makes a lot of profit annually and are always liquid consequently only amount of financial loss to a company will not in its existence, and operation.
Therefore, this study is significant that, it will help to highlight the socio-economic implications of sources of finance on the growth and development of the company.
Scope and limitation of the study
This research work is limited to an organization in Ilorin namely International Tobacco Company. It is located near Stella Obasanjo Hall, near Gaa-Akanbi Junction. The financial health of the organization will be examined over a period of 10 years (1997-2006). Limitation to this scope will arise interm of cost and time. The researcher will put this into account when drawing conclusions to make margin of error as a result of this limitation.
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