Our Archives

Call 08068929770 or 08122972656 for any enquiries.

Project Topic:

ROLE OF MANAGEMENT ACCOUNTANT TO COST CONTROL AND PROFIT PERFORMANCE IN AN ORGANIZATION (A Case Study Of Innoson Nigeria Limited Enugu)

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 110 ::   Attributes: Questionnaire, Data Analysis
::   184 people found this useful

Project Body:

ABSTRACT
Accountants have been bestowed with the role of providing information to the management regarding the affairs of the organization in particular and to the stakeholders in general. Internally, in manufacturing organization, management has always relied on the management accountant for cost evaluation and performance efficiencies of cost element. This role of management accountant to the management has been in doubt because of incessant increase in the cost elements of goods manufactured in Nigeria which in cause has resulted in constant increase in the price of goods. The aim of this research study is to evaluate the role of management accountant to cost control and profit performance in an organization. a quasi-experimental research design was adopted for this research study and the sample size was selected using the Taro Yamane sampling technique. Primary and secondary sources of data were used in collecting information which was analyzed using simple percentages. The hypothesis was tested using chi- square statistical method at 0.05 level of significance for validity and decision making. The findings from the analysis of the research study depicts that organizational strategic managers should rely on management accountant information for decision making. Management of any manufacturing company cannot make profitable decision without quality information. The researcher can confidently conclude based on the findings that the availability of skilled, knowledgeable and informative management accountant in an organizational profit performance promotes productivity. Therefore, this research work recommends that management accountants should provide information on time so as to hasten up in making vital decision because undue delay in decision making will definitely undermine the firms‟ goal of profit maximization. Also, it recommends that adequate exposure should be given to management accountants through training programmes, appraisal and evaluation of seminars in order to acquaint them with the new technologies in vogue and keep pace with new knowledge.

TABLE OF CONTENTS
Title page 
Certification Page 
Dedication 
Acknowledgement 
Abstract 
Table of contents

CHAPTER ONE: 
1.0 INTRODUCTION

1.1 Background of the study 
1.2 Statement of the study 
1.3 Objectives of the study 
1.4 Research Question 
1.5 Formulation of hypotheses 
1.6 Significance of the study 
1.7 Scope of the study 
1.8 Limitations of the study 
1.9 Definition of terms

CHAPTER TWO
2.0 REVIEW OF RELATED LITERATURE

2.1 Definition of profit performance
2.2 The concept of profit performance
2.3 Functions of Management Accountants in relation to profit making in an organization
2.4 Basic tools employed by Management Accountants in Profit maximization
2.41 Standard Costing 
2.42 Marginal Costing 
2.43 Budgeting and Variance analysis 
2.44 Cost Volume Profit Analysis 
2.5 The Concept of Cost in Profit Maximization 
2.6 Ways of Regulating Cost in a Manufacturing Company

CHAPTER THREE: 
3.0 RESEARCH METHODOLOGY

3.1 Research Design 
3.2 Sources of Data 
3.3 Area of study 
3.4 Population of Study 
3.5 Determination of Sample Size 
3.6 Reliability Test 
3.7 Validity Test 
3.8 Method of Data Analysis

CHAPTER FOUR: 
4.0 PRESENTATION AND ANALYSIS OF DATA

4.1 Presentation of Data 
4.2 Analysis of Data 
4.3 Testing of Hypotheses

CHAPTER FIVE: 
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction 
5.2 Summary of findings 
5.3 conclusion 
5.4 Recommendations 
Bibliography 
Appendices

CHAPTER ONE

INTRODUCTION
1.1 BACKGROUND OF THE STUDY

Prices of goods and services are gradually increasing day by day, and due to the fact that the sole aim of a businessman, producer or manufacturer is to make profit they end up making use of low quality materials for production so as to reduce cost of production and maximize profit. Moreover, with the increase of competitors around, most of the producers have thought it wise to manufacture or package a quality product and also enhance their profit level. This elevated the interest of the researcher to bring to light of how this goal can be achieved through intensive study of the role of management accountants to cost control and profit performance in an organization. Apart from cooperate scandals; there has been anosmatic pressure for better profit maximization as the business environment became more volatile, prices of products increasing at an alarming rate, and the production of low quality products.
In the past management accountants operation is strictly on workers capacity usually separated from the managers for whom they provided reports and information. But in this present period, management accountant now serve as internal business consultants. Working together in cross functional teams with managers from all sectors of the organization.
However, the management face a broad array of decisions including production, marketing, financial and other relevant decisions. Also having in mind that decision making is a fundamental part of management; the management accountant must be equipped with some knowledge of accounts and management. He must have an understanding and knowledge of the environment and the operations of the organization in which those systems are implemented and appropriate technology to apply in each case for the provision of management information. It is obvious that the management of a manufacturing firm will need information that will enable them consider the factors affecting cost of production, cost reduction, product pricing and investment etc, so as to choose the best alternative.

1.2 STATEMENT OF THE PROBLEM
In recent years, the cost of products manufactured in Nigeria has been very expensive beyond the reach of common Nigerians. This cost challenges has made many products manufactured in the country unpatronized by the consumers, and as a result of that expires in the hands of the sellers. There is also a problem of poor inventory management which leads to overstocking thereby tying down the company‟s working capital. Another problem facing some or most of the manufacturing firm is the installation of improper plan to reduce cost of production so as to maximize profit, i.e. ( making use of low quality raw material).
Management accountants are assigned with managing cost elements of products among other responsibilities. He aligns cost with efficiency; provide required information for cost minimization so that profit could be maximized. These assignments should reduce product pricing, but instead there have been a consistent product price racketing. These problems therefore brought the need for this research work which intends to find the reason for this persistent increase in product pricing where the services of management accountants were engaged and therefore putting up the following questions:
Do management accountants perform in their responsibility?
Is cost performance inefficiencies of management accountants included in the product pricing?
Is the recent in price caused by other factors rather than elements of cost of production managed by management accountants?
How would the role of management accountant in an organization improve profit performance?

1.3 OBJECTIVES OF THE STUDY
1 To determine the relevance of management accountant in an organizational internal cost performance efficiency.
2 to ascertain whether the resent increase in cost of products manufactured in Nigeria is caused by other factors rather than management inefficiency.
3 To ascertain if organizational strategic managers should rely on management accountant information for decision making.
4 To make recommendations based on the findings.

1.4 RESEARCH QUESTIONS
To what extent is management accountant still relevant in organizational internal cost performance efficiency?
Does the resent increase in cost of products manufactured in Nigeria caused by other factors rather than management accountant inefficiency?
To what extent should strategic managers rely on management accountant information for decision making?

1.5 FORMULATION OF HYPOTHESIS
The following hypothesis was formulated for this research work.
Hypothesis 1
H0: management accountant is not relevant in organizational internal cost performance efficiency
H1: management accountant is relevant in organizational internal cost performance efficiency.
Hypothesis 2
H0: resent increase in cost of products manufactured in Nigeria is not caused by other factors rather than management accountant inefficiency.
H1: resent increase in cost of products manufactured in Nigeria is caused by other factor rather than management accountant inefficiency.
Hypothesis 3
H0: organizational strategic managers should not rely on management accountant information for decision making.
H1: organizational strategic managers should rely on management accountant information for decision making.

1.6 SIGNIFICANCE OF THE STUDY
The management accountant makes the necessary information available to the management by the application of his skill and knowledge. The significance of this study is to bring to the notice of the management the exemplary role of the management accountant and the technique he uses to provide information and also how these would affect the operations and the attainment of the organizational goal if these information provided are not recommended for use by the management. And with such knowledge and information put to use, management would be able to plan and control the organization such that the cost of operating the business will be at a minimum while profit will be maximized.
And if the profit objective is achieved, the customer will benefit from better and cheaper product while the investors will benefit from the profit as well.

1.7 SCOPE OF THE STUDY
The study is limited as it looks at the role of management accountants to cost control and profit performance in an organization. A case study of INNOSON Company Nigeria limited Emene, Enugu. This research work intends to cover:
1. How managerial accountants should be able to adapt their generalized knowledge of accounting to develop customized data and report that are logical and support sound management process.
2. The reporting structure is well defined and standardized.
3. The methods of preparation of information and the report presented are governed by rules.

1.8 LIMITATIONS OF THE STUDY
In the process of carrying out this research work, the most nagging problem facing the study is how to obtain reference materials. The time to carry out the research is short and insufficient, since it is done alongside with some other courses to contend with so as to present a good result. There are also difficulties associated with personnel‟s accepting to give vital information which will be of help to the researcher.

1.9 DEFINITION OF TERMS
Accountant: An accountant is a practitioner of accountancy or accounting ( referred as an accounting in the united states), which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.
Management Accountant: are those key officers that provide business data and analysis to managers within organizations to assist in decision making and control.
Profit maximization: A process that companies undergo to determine the best output and price levels in order to maximize its return. The company will usually adjust influential factors such as production costs, price of goods and output level as a way of reaching its profit goal.
Performance; General accomplishment of a given task measured against present standards of accuracy, completeness, cost and speed.
Management;: this is defined as the process of dealing with or controlling things or people. It is the responsibility for control of a company or similar organization.
Company: this refers to a legal entity that carries out business in its name.
Information: this means data that is accurate and timely, specific and organized for a purpose, presented within a context that gives it meaning and relevance,
and can lead to an increase in understanding and decrease in uncertainty. Information is valuable because it can affect a decision or an outcome. For e.g., if a manager is told, his company‟s net profit decreased in the past month, he may use this information as a reason to cut financial spending for the next month.
Decision making: the thought process of selecting a logical choice from the available option. It is done to achieve a specific objective or solve a specific problem

Project Department:

MORE ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS


Get The Complete Project »

Instantly Share this Project On Social Media:

CLOSELY RELATED ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Secondary data, Data Analysis,Abstract  ::   635 engagements

CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »

A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   455 engagements

ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   303 engagements

HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »

APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   316 engagements

2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »

ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 69 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   295 engagements

ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »

ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 86 ::   Attributes: Questionnaire, Data Analysis  ::   265 engagements

THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Rita Eze from abia state university said "thank you so much for your sincerity; i will tell my friends about you guys.".
    Rating: Very Good
  • 2. JULIET from UNIMAID said "I THANK YOU GUYS FOR BEING HONEST.....I WILL TELL MY FRIENDS ABOUT YOU GUYS. THANKX SO MUCH".
    Rating: Excellent
  • 3. Lilian Terdoo from BSU said "i have nothing to say but thanx for being honest. i appreciate u guys...".
    Rating: Very Good
  • 4. Demien Johnson from UNN said "Uniprojectmaterials is a blessing to researchers. my job was eased up by you guys. your jobs have good quality and was delivered on time to me. Thanks a million times".
    Rating: Very Good
  • 5. Patience from unilag said "i was having difficulties handling my dissertation of 12000 words. until i stumbled on uniprojectmaterials, my work was ready in three days with high quality write up and excellent data analysis, i will tell all my friends about u guys. Mr Donald is a very nice person, he should be in charge of the phone. he attended to me very well. God bless. ".
    Rating: Excellent
  • 6. James Ike from College of Education, Gindiri said "Great delivery. Una dey try wella!!!".
    Rating: Excellent

Paper Information

Format:ms word
Chapter:1-5
Pages:110
Attribute:Questionnaire, Data Analysis
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives