Our Archives

Call 08068929770 for any enquiries.

Project Topic:

THE IMPACT OF ACCOUNTANCY INFORMATION ON DECISION MAKING PROCESS

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 81 ::   Attributes: Questionnaire, Data Analysis
::   135 people found this useful

Project Body:

CHAPTER ONE

1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY

At independence, Nigeria joined the committee of nation with the hope for a better tomorrow. We were able to feed ourselves and were of course almost self-sufficient. Subsequently our hopes seemed unattainable. We seem to be going deeper and deeper into the woods. The consensus is that it has been bad for Nigeria.
Due to the adverse economic condition prevailing in the country many businesses have closed, shops and even financial institutions are being declared distressed at alarming rate. Businesses that are yet to be submerged or that want to stay afloat employ all kind of strategies. Some increase price, adopt promotional tools, engage in aggressive marketing etc. whereas others goes for an odd combination of activities and even undergo different kind of small business to survive.
Any business or individual that wants to survive must make the right decision. The era of mile of thumb is gone; employing it is a sure way to fail absurdly.
The price of any conceivable item from garri and bread to radio and book not to mention petrol has been soaring in
geometric proportions over the year. The economy is truly in distress. These compounds and complicates intricate are the problem of the organisation vis-à-vis effective planning and decision making processes. Other factors such as stagflation, taxation, economic and political problem are the major problem which affects information and decision making. The future orientation is what most company and bank get from making accounting decision .the computation and interpretation of analytical ratios from financial statement enable bank to determine their operation trends and provide a basis for management decision making. Other users of financial analysis are used in making financial decision and achieving the goal of sustainability determines compliance with regulatory requirements. Financial analysis is an investment that has positive return in the future on how decision will be made, how to manage the finances to achieve the strategic goals of the institution through decision making.
Many people think that accounting as a highly technical field which can be understood only by professional accountants actually nearly everyone practices accounting in one form or the other. In modern times, management require a wide variety of
information to successfully accomplish its aim and objectives. This information is mainly determined by the element of uncertainty about the future and lack of knowledge about the present. Some of these decisions are of strategic importance having a large impact on the business, others are routine operating decision. Therefore accounting information is based on laws and regulations governing the handling of accounting report contained in the financial reports of organisation.
Making the right decision depends on the possession of appropriate, accurate and up to date information provided and presented in a meaningful way. This study set out to examine the contribution of sound accounting system in providing the management with financial and other information basis for dealing with decision problems that arises from their organisational operations.

1.2 STATEMENT OF THE PROBLEM
Basically, the nature of manufacturing business compels it to carry out a great deal of book-keeping records based on accounting principles and information provided with the perpetual increase in the number of consumer of manufactured
products, it has become necessary to devise a systematic mean in handling the resultant book-keeping and accounting activities.
A lot criticism has always been made about the service of the organisation, consumers complain of low quality product while employers complain of lack of promotion inadequate salaries, lack of training etc.
Furthermore, the major challenge facing every financial institution business, organisation of today is market relevance. On-going fundament at changes in the global politics, economy and emerging competitions particularly challenges proper and adequate contemporal accounting information for management decision making. The company itself tries to coordinate all these challenge effectively and efficiently so as to minimize any anticipated and unanticipated pitfalls. If a sound and effective accounting system is applied property by the manufacturing organisation, the difference will be clear.
Improper attention to the accounting system and handling of accounting information has given birth to the under mentioned problems. Poor planning Result to poor decision making
Poor organisation and control of business activities and unsatisfactory service to its customers. Poor decision making in administrative activities of the organisation.

1.3 OBJECTIVE OF THE STUDY
The objectives of the study are as follows;
1. To determine whether there has been problem in generating and utilizing accounting information necessary for management decision making.
2. To ascertain the extent in which accounting information generated by accounts departments has contributed in decision making process.
3. To ascertain the extent accounting information has effectively performed or fulfils the basic roles of cost minimization, proper allocation of scare resource and improvement in the production.

1.4 RESEARCH QUESTION
1. Are there problem in generating and utilizing accounting information necessary for management decision making process?
2. To what extent does accounting information generated by accounts department contributed in decision in making process?
3. To what extent does accounting information has improved effectively performed or fulfil the basic roles of cost minimization, proper allocation of scare resource and improvement in the production?

1.5 RESEARCH HYPOTHESIS
NUMBER ONE
Ho There are problem in generating and utilizing accounting information necessary for management decision making.
H1 There are no problems in generating and utilizing
accounting information necessary for management decision making.
NUMBER TWO
Ho accounting information generated by accounts department has not contributed in decision making process.
H1 Accounting information generated by accounts department has contributed in decision process.
NUMBER THREE
Ho Accounting information has not improved effectively performed or fulfil the basic roles of cost minimization, proper allocation of scare resource and improvement in the production.
H1 Accounting information has improved effectively performed or fulfil the basic roles of cost minimization, proper allocation of scare resource and improvement in the production.

1.6 SCOPE AND LIMITATION OF THE STUDY
The research cannot treat all aspect and kind of accounting information because the field is simply too wide. So only those relevant to these studies were dealt with as per need- ratio analysis, cost-volume- profit analysis, absorption and marginal costing, the contribution margin standard costing and variance analysis, linear program.
The availability of correct and up to data is not easy, even when available; one still encounters wholly unnecessary bottlenecks due to our socio – cultural background vice versa disclosure of information and bureaucracy. So this constituted an impediment to this research work.
Financial and time constraints were seriously encountered by the researcher. Computational procedures of various accounting information or tools are outside the scope of the work. However, those deemed necessary may be treated.
It is impossible to cover all the companies, firms and other business outfits in Nigeria
As a sample of the two companies in Enugu state were scheduled and inferences made from these.
Though deliberate effort is being made, to have a work wile study with sufficient validity and reliability. This work should not be viewed as a final solution to impact of accounting information on decision making process. There are limitations on resources for reference purposes especially responses on collection of data, many respondents give bias responses probably because of job protection, officer’s name and image protection, personal reluctance, unnecessary fear of legal implication and so forth.

1.7 SIGNIFICANCE OF THE STUDY
This research study will help to maximise the beneficial impact of accounting information on the decision making process of an organization. This boosts the profitability of the organization as well as ensuring its continuity as a business entity.
It will help in the efficient allocation of scare resources that have alternative being use as well as increase productivity thereby uplifting the standard of living. It will review the improvement in the organization or company handling the accounting information and show equally the ways through which improvement could be accomplished.
In fact, all interested groups like shareholders, employers, investors, creditors, government etc will benefit immensely.
This project will equally serve as a reference to student who may be interested to embark on a research of this nature.

1.8 DEFINITION OF TERMS
EFFETIVENESS: The total or actual interest paid or earned in a year, expressed as a percentage of the principal amount at the beginning of the period.
EFFICIENCY: A measurement of the ability of an organization to produce and distribute its product. In accounting terms it is qualified by a communism of the standard hours allowed for a given level of production and actual hour taken.
ACCOUNTING INFORMATION: This is a system designed to obtain the financial position of an organization as at the end of the period.
INFORMATION: Is a processed data used in obtaining detailed data about a particular person, thing or place.
LEVERAGES: They are used by companies of its limited assets to guarantee substantial loans to finance its business.
FINANCIAL INFORMATION: This is information summarized by a company’s activities over the last year. They consist of the profit and loss account, the cash flow statement etc.
ANALYSIS: In standard costing and budgetary control, analysis of various in order to seek their causes. The total profit of various is analysed into sub – variance indicating the major reasons for budged figures.
DEBT: A sum owned by one person or organization to a person showing that the debt to be required to be settled within one accounting period.
RATIO: To put company’s performance in percentage. The use of accounting ratio to evaluate a company’s operating performance and financial stability.
DECISION MAKING: This is the end of deciding between alternative courses of action. Running of a business, accounting information and techniques are used to facilitate decision models such as discounted cash flow.
IMPACT: This means the duties responsibilities and functions. As it has to do with work, it is that fundamental obligation incumbent on the public relations for the attainment of democratic order in the organization policy.
Accounting: Is the process of producing needed information regarding primarily the financial activities of economic entities by Bartho N. Kezee 1996.
The wide scope of accounting can be recognized when one considers the diversity of economic entity which cut across sizes and bounders.
Accounting is the language used to cover the result of the entity’s endeavours, to the interested parties inform of financial statement and the financial statement has been identified as follows: Statement of accounting policy. Balance sheet. Profit and loss account (income statements). Notes on the accounts. Statements of source and application of funds. Value added statement. Five years historical summary.
INFORMATION ON DECISION MAKING PROCESS
Information consists of data that have been retrieved processed or used for information purposes and as a basic for forecasting and decision making process

REFERENCES
Adeniyi, A (2008); An Insight into Management Accounting and Cost Accounting.
Drunny, C (1973); Accounting and Finance Service Management and Cost Accounting.
David, G B (1974); Management and Information System.
Edward, J B (1976); The Modern Accountancy Hand Book.
Okafor, A U (2000) Principles of Accounting: The professional approach. Owerri Hudson Jude Nigeria Publishers

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  ::   394 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  ::   255 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  ::   162 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  ::   170 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  ::   173 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  ::   151 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?

WHAT OUR CUSTOMERS ARE SAYING:

  • 1. JULIET from UNIMAID said "I THANK YOU GUYS FOR BEING HONEST.....I WILL TELL MY FRIENDS ABOUT YOU GUYS. THANKX SO MUCH".
    Rating: Excellent
  • 2. Lilian Terdoo from BSU said "i have nothing to say but thanx for being honest. i appreciate u guys...".
    Rating: Very Good
  • 3. 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
  • 4. 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
  • 5. James Ike from College of Education, Gindiri said "Great delivery. Una dey try wella!!!".
    Rating: Excellent
  • 6. Ogba Ideh from FUT Minna said "I had a wonderful experience using UniProjectMaterials, they delivered not only on time, but the content had good quality. I recommend UniProjectMaterials.com for any project research work.".
    Rating: Very Good

Paper Information

Format:ms word
Chapter:1-5
Pages:81
Attribute:Questionnaire, Data Analysis
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives