School of Accounting

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Browsing School of Accounting by Author "Kapenambili, Sakeus"

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    An investigation of financial performance and accounting practice at TransNamib Holdings Limited
    (University of Namibia, 2021) Kapenambili, Sakeus
    The overall aim of this study was to investigate the financial performance and accounting practice at TransNamib Holdings Limited. To achieve this aim, this case study had the following specific objectives formulated: to investigate factors that influence financial performance by performing an in-depth analysis of the causes of the recurring operating losses at TransNamib Holdings Limited and also, to study the financial performance and accounting practice at TransNamib Holdings by reviewing their annual financial reports for 2014 to 2019 financial periods. Purposive Non-probability sampling method was employed to derive the sample respondents for the study. The instrument used for data collection was a self-administered questionnaire. The main study findings revealed that financial performance at TransNamib Holdings was very poor, there were no annual financial reports produced by TransNamib Holdings Limited for the financial periods of 2014 to 2019. It was also discovered that the governing body and senior management at TransNamib Holdings Limited lack accountability and responsibility moreover; they were not held accountable for the poor financial performance of the company. The study established that poor financial performance at TransNamib Holdings Limited was caused by a lack of planning, lack of expertise, and weakness in the stakeholders’ oversight with regards to holding the governing body and senior management accountable for poor financial performances. The study concluded that accounting practice at TransNamib Holdings Limited was inconsistent and incompatible with the GAAP, IFRS and other relevant accounting standards. The study, however, recommends that TNHL should create an internal audit department and that the company should hire full-time personnel with a specialized qualification in the field of finance or accounting such as Chartered Accountancy, CIMA qualification, ACCA or CFA to aid driving the organization’s performance positively. The study further recommends that the members of the governing body and senior management should be well qualified.