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Effect of Receipts and Payments Account Instruction on Students’ Ability to Prepare Accounts for Non-Profit Organizations in Nigerian Polytechnics

Abstract

Receipts and payments account instruction is an important aspect of accounting education because it equips students with the knowledge and practical skills required to account for the financial activities of non-profit organizations. Unlike profit-oriented organizations, non-profit organizations focus primarily on providing services to members and beneficiaries, making appropriate accounting procedures essential for maintaining accurate financial records. The receipts and payments account provides a summary of cash and bank transactions during an accounting period. This study therefore examines the effect of receipts and payments account instruction on students’ ability to prepare accounts for non-profit organizations in Nigerian polytechnics. Receipts and payments account instruction introduces students to the principles and procedures involved in recording and summarizing cash receipts and payments of non-profit organizations. Through effective instruction, students learn how to identify relevant transactions, distinguish receipts from payments, determine opening and closing cash balances, and present information in an appropriate accounting format. Practical classroom activities can also help students understand the treatment of different types of receipts and payments and develop the ability to apply accounting principles to non-profit organizations. The preparation of accounts for non-profit organizations requires students to understand the relationship between receipts and payments accounts and other relevant accounting statements. Students need to distinguish between capital and revenue items and understand how financial transactions are treated within the accounting records of clubs, societies, associations, charitable organizations, and similar bodies. Effective instruction can help students develop the analytical skills required to classify transactions correctly and prepare accurate accounts. Continuous practice may further strengthen their confidence and competence in handling non-profit accounting problems. The study will adopt a survey research design and focus on accounting education students in selected Nigerian polytechnics. Data will be collected using a structured questionnaire designed to obtain information on students’ exposure to receipts and payments account instruction and their ability to prepare accounts for non-profit organizations. The research instrument will be subjected to appropriate validation procedures, while its reliability will be established before administration. Data collected will be analyzed using descriptive and inferential statistical techniques, and the hypothesis formulated for the study will be tested at a 0.05 level of significance. The study is expected to establish that receipts and payments account instruction has a significant positive effect on students’ ability to prepare accounts for non-profit organizations. Students who receive effective instruction are expected to demonstrate improved ability to identify relevant cash transactions, classify receipts and payments, determine appropriate balances, and prepare accurate accounting records. Practical exercises may also improve students’ understanding of the accounting procedures applicable to non-profit organizations and reduce common errors in account preparation. The findings are expected to have important implications for the teaching and learning of non-profit accounting in Nigerian polytechnics. Accounting lecturers may be encouraged to combine theoretical explanations with practical exercises involving receipts and payments accounts. Classroom activities based on realistic transactions from clubs, societies, associations, and other non-profit organizations can provide students with opportunities to apply accounting concepts and develop practical competence. Regular feedback can further help students identify and correct errors in their accounting procedures. The study will be beneficial to accounting education students, lecturers, curriculum developers, polytechnic administrators, and other stakeholders in accounting education. Students may develop stronger practical skills in preparing accounts for non-profit organizations, while lecturers may gain insight into instructional approaches that can improve students’ understanding of receipts and payments accounts. Curriculum developers may also use the findings to strengthen the practical treatment of non-profit accounting within accounting education programmes. The study recommends that Nigerian polytechnics should strengthen receipts and payments account instruction through regular practical exercises, transaction-based activities, case studies, and guided account preparation. Lecturers should expose students to different types of receipts and payments and provide adequate opportunities for students to practice classifying transactions and preparing accounts for non-profit organizations. The study concludes that effective receipts and payments account instruction can significantly improve students’ ability to prepare accounts for non-profit organizations and contribute to the development of stronger practical accounting competence.

Keywords: Receipts and Payments Account Instruction, Non-Profit Organizations, Accounting Education, Accounting Students, Non-Profit Accounting, Receipts, Payments, Cash Transactions, Capital Receipts, Revenue Receipts, Accounting Records, Account Preparation, Accounting Procedures, Practical Accounting, Accounting Competence