Financial Record Keeping in Religious Organizations

Abstract

This research project concerned a study of the financial record keeping of religious organizations: A Case Study of Catholic Churches in Enugu Diocese.

A sample of sixty-three parishes was made from the diocese. Investigations were carried on their financial control used both internally and externally, the accounting system and financial decisions/reporting adopted.

This showed whether there was an efficient and effective financial record keeping in the church. Since rth research aimed at investigating existing financial record keeping or practice the employment of descriptive method of research was found adequate.

The main instruments used for the collection of primary data were the structured libraries and other research units served as secondary data.

The researcher ensured that the questionnaire possessed to a large extent the characteristics necessary and adequate for the purpose of validity and reliability.

Data collected were analyzed and presented with percentages and tables and hypothesis were tested with the chi-square (X²) statistics and the following results emerged.

Introduction

1.1 Background of Study

Every organization both business and non-business requires and uses finance for its various activities.

The business organizations are set up primarily for profit making like banks, companies and other related ventures while the religious organizations are not meant for profit making but for rendering services and winning souls to God.

Religious organizations can come from inform of Christianity, Islam, Buddhism, Hinduism and other religious sectors of organizations. The religious organization of interest is Christian religion and indeed Catholic Church.

Since finance is very vital for the welfare and growth of these organizations, its administration has to be well accorded financial records keeping.

Finance at the macro level is the study of financial planning, assets management and fundraising for business, while macro is te study of finance institution and finance market and how they operate within financial system (Anyafo, 2000:3).

In view of Emekekwue (1993:1), finance is primarily concerned with money and momentary matters.

References

Anyafo, A.M.O (1997), God’s People’s Finance, UNEC Enugu, B&F Publications

Babalola, E.O (1976) Christianity in West Africa (A Historical Analysis), Ondo, Bamigboye and Co Press (Nig.) Ltd.

Baridam Don M. (1995), Research Method in Administrative Science, Second Edition, Choba, Port Harcourt: University of Port Harcourt Publishing House.

Cannon Law Society of Great Britain and Ireland (1976), The Code of Cannon Law, India: Collins Theological Publications.

Catholic University of America (1967) The New Catholic Encyclopedia, Washington: Printed in USA.

Emekekwue, P.E (1993), Principles of Public Finance, Kinshasa Zaire, African Bureau of Educational Sciences Special Agency of the Organization of African Unity.