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Format: MS WORD  |  Chapter: 1-5  |  Pages: 65  |  615 Users found this project useful  |  Price NGN3,000




 Current assets as one of the management tolls of business organization are very important in the proper function of business and achievement of organizational goal.  Current assets are those assets that are readily without loss in value and interference in the normal process of the business.  Management on the other hand involves getting things done through other people by planning, organizing and cordinating.  It is also a social and technical proves that utilizes resources and changes human behaviors in the desired direction in order to elicit contribution that will accomplish the objectives of the organization.


Current asset management includes – managerial decisions on how the various component of current asset are to be financial as well as planned policies on the composition level to be maintained and control to be exercised.   Current assets comprises of cash, inventories, governments bonds, account reachable (debitos) mark able securities, prepaid expenses and also other assets that are capable of being converted into cash within a relatively short period without interfering with the normal operations of the business.  For an organizational goal to be achieved these components of current assets should be efficiently managed. 


But sundry debtors and cash tie-up investment funds can also have other costly disadvantages, for this reason, organizations should always seek to minimize or keep optimum stock and cash level of these assets and ideally reduce them to zero. However, reducing them to zero is rarely practical since to do so will result in cash greater of other adverse costs increased. The determination of the optional level for such assets is therefore the result of balancing process between the cost of holding such assets and role associated with not holding than or of holding only small amount. It is obvious that any mismanagement of these current assets will result to loss of cash, which will eventually have an advice effects in the entire management of the company.


Therefore, any step which can be taken to minimize levels of current assets probably yield large savings in cost. Investigations has shown that many business concerns fail or perform below expectations as a result of the inability to manage their current assets adequately.  The importance of a well coordinated current assets, management cannot be over-exaggerated, it goes a long way to boast productivity, availability of funds, profitability and encourages growth and expansion of the company.   The researcher therefore tend to investigate and be able to come out with a profitable result on effective and efficient management of current assets in public limited liability companies and suggest possible ways for further improvement.




Nigerian breweries plc is the pioneer and largest brewing company in Nigeria, was incorporated in 1946, and recorded a landmark when the first bottle of star large beer rolled off the bottling lines in its Lagos brewery in June 1949. This was followed by Aba brewery, which was commissioned in 1957. Kaduna brewery in 1963 and Ibadan Brewery in 1982. In September 1993, the company acquired its gift brewery in Enugu. On April 9,2001, it recently christened the Ama green field brewery in Enugu, the largest in Africa. The brewery will be commissioned in October 2003. Thus from its humble beginning in 1946, the company now has five operational breweries from which its high quality products are distributed to all part of this great country. EXPORT  Nigerian Breweries (NB) plc has an increasing export business that dates back to 1986 currently, they export to the U.K, U.S.A, Italy, Neither lands, Germany and Kenya. 


NB Plc keeps pace with key international developments, thus ensuring that its systems, processes and operational procedures are always in conformity with world-class standards. It is inline with this policy that the company established a research and development center in 1987 to enhance its research activities on all aspects of brewing operations. 


As a major brewing concern, the company encourages the establishment of ancillary business. Many of these organizations and individuals depend largely on the company for their means of live hood. These include manufacturers of bottles croon corks, labels, certons, plastic crates, and such services as hotels clubs and our key Distributors. 


Nigerian Breweries Plc is a socially responsible corporate citizen with a very good record of corporate philanthropy in the areas of education, the environment and communications among others. The company in 1994 established an Education trust fund of N100 million to take more action part in the funding of educational and research facilities I\n higher Institutions, all in all efforts to provide and encourage academic excellence in Nigeria.  This is in addition to its secondary and employees. The companies have its authorized share capital of 2.4billon.



Many companies including private public and government owned companies have been experiencing serious mismanagement of resources and loss of cash due to inefficient control of current assets which result to liquidation. On the other hand, another problem facing public limited companies is global economic recession in Nigeria economy, high rate of inflation and fluctuation I exchange rate has coursed serious problem in processing stock and other current assets items that enhance growth of the under utilization of resources and improper inputs that resulted to the decrease in the total revenue generated by companies.

Another difficulty encountered in management of current asset is debt managements of current asset is debt management. The terms of credit, sales is no more maintained by distributors and this cases shortage of fund that would have this cause shortage of fund that would have been available for the normal operation of the origination. This entire   problem hinders the efficient management of current asset. At the conclusion  of this study, the researcher will be able to come out with the possible remedies to these problems associated with current asset management and suggest ways for improvement.



The study addressed the following objectives;

(1) The purpose of this study is to critically appraise or value the rate at which the management makes policies for current assets administration in public limited labiality companies.

(2) To as certain how funds are really being civilized and adequate management of current assets with a view to finding solution to mismanagement.

(3) To identify reason why public limited companies keep proper current asset management

(4) To determine the extent to which current assets management tools have enhance in the proper functioning of business and achievement of organizational goal.

(5) To assess and evaluate whether current asset management has gone a long way to boost productivity and encourages growth and expansion of the company.

(6) To make recommendations and to prevent further lapses and recommend appropriate measures to be adopted in efficient utilization of resources.



The following are the research question of the study:

(1) Has the current asset management tool enhances proper functioning of business and achievement of organizational goal.

(2) Has it increased the profitability of the public limited companies?

(3) Has it reduced the problem of debt management?

(4) Has contributed for proper accountability and utilization of these assets for day-to-day transaction of a business concern.



The following hypotheses tested in the study:

Hi: Alternative Hypothesis

Ho: Null Hypothesis

Hi: An appropriate current asset management has increased the profitability and growth of a company.

H: High rate of inflation and fluctuations in exchanges rate have a negative effects on the current asset management.

Ho: high rate of inflation and fluctuations in exchange rate have no regreative effects on the current asset management.

Hi: Economic trend affect current asset management.

Ho: Economic trend dose not affect current asset management.



This study will involve benefits, which will be of interest to some groups, which in the final analysis will help and solve most of the problems encountered by public limited liability companies, especially the Nigeria breweries Plc. This study will be also be of great benefit to business educators, students in business study will also benefit from this research work.

It will also assist private and public companies in checking the event of their progress and lapses, as to adopt the required steps in the control and management of the current assets. Some of the beneficiaries include:


The management of public liability companies like the management of Nigeria breweries has benefited from current asset management because it has helped them in managerial decision on how the various component of current assets are to be financed as well as plannined policies on the composition level to be maintained and control to be exercised.

B. MANAGERS:The managers in every organization will in no small measure gain from how they will manage their current asset to ensure profitability as one of the factors that contribute towards the progress of the company is the effective and efficient management of their current asset.

C. THE GOVERNMENT:The government has gain immensely from current asset management because those their bonds and securities are well utilized and secured which ensures stability in an economy.



The researcher intended to restrict the study on Nigeria breweries Plc Enugu branch among many public limited liability companies in Nigeria. Because of some constraints time and monetary constraints.



Like every research work, a lot of things posed as some limitations to the research they includes:

(a)Death of Data:The researcher was hindered to a large extent due to the scarcity of data on the topic. Frantic efforts were made to gather more information that would contribute positively to the study but with minimum success.

(b)   Lack of Finance:It could not be an overstatement to say that this study required a great ideal of finance so that one would come out with reasonable and acceptable research findings that would stand the test of time. Unfortunately this finance was not at the disposal of the researcher.

(c) Poor Access to Data:The researcher encountered serious problem as it concerned access to data. She had it tough with some personnel. Who was not ready to release helpful information, her interaction with some of the workers was so poor that she was regarded as an instructed to their secret shine”.

(d) Problems in combining the research work, class lectures, exams and official duties as well as family issues is very infini testimal, but these are mandatory activities and hence the researcher was deprived of many other activities to ensure their fulfillment.



Current Asset: These are those assets that are recash may be held as buffer to meat unpredictable financial needs. Cash balcne held to cover the future contigencadly converted Into cash usually within one year without loss In value or interference in the normal process of the business.

Government bonds: This is a certificate of debt to be paid by the Government to an individual holder and it Usually bearing a fixed rate of interest. It is also an assurance or a sealed instrument Under which the government guarantees to Pay a stated sum of money on or before a Specified date.

Inventories: This is detailed offer description of list of list Of articles given code. It could be also referred To as that stock of the product that accompany Is manufacturing for sale and the components That make up the product inventories could be Classified into various types which are as Follows: 


(ii) WORK-IN-PROGRESS (W.I.P) ie partly finished good and materials held during manufacturing stages.

(iii) FINISHED GOODS: ie completed products that are ready for sale or distributed, this definition is given by Adibe (2015)

Marketable Security: These near money assets in which Precautionary balance of the firm is Investigation. They include treasing Bills, certificate of deposit and bankers Acceptance and repurchases agreements.

Mark able securities are held as buffer Against cash storage and are used for Temporary investments.  

The defunction Is by Aguolu (2015) P.2. It is a certificate of stock that is readily Salable or buying in marketable values. The definition is given by Leslie 1979) P3.


(1) Adibe O.R. (2015) Introduction management Mathematics for business students First education Model Academic Publishing ltd, Aba, P. 128.

(2) Aguolu. P.S.O. (2014) February financial management Second edition Model academic Publics lung ltd Aba, P.60.

(3) Leslier.R. (1979) Working capital management and control Zel production MacDonald and  Evans lted, London. PP 3 –20.


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