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THE
ROLE OF MANAGEMENT ACCOUNTANT TO COST CONTROL AND PROFIT PERFORMANCE IN AN ORGANIZATION
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 i
Certification Page ii
Dedication iii
Acknowledgement iv
Abstract v
Table of contents vi
CHAPTER ONE:
INTRODUCTION
1.1 Background of the
study 1
1.2 Statement of the
study 2
1.3 Objectives of the
study 3
1.4 Research Question
4
1.5 Formulation of
hypotheses 4
1.6 Significance of
the study 5
1.7 Scope of the
study 6
1.8 Limitations of
the study 6
1.9 Definition of
terms 7
CHAPTER TWO
2.1 Definition of
profit performance. 9
2.2 The concept of
profit performance. 10
2.3 Functions of
Management Accountants in relation to profit making in an organization. 12
2.4 Basic tools
employed by Management Accountants in
Profit maximization.
14
2.41 Standard Costing
14
2.42 Marginal Costing
20
2.43 Budgeting and
Variance analysis 22
2.44 Cost Volume
Profit Analysis 28
2.5 The Concept of
Cost in Profit Maximization 29
2.6 Ways of
Regulating Cost in a Manufacturing Company. 31
CHAPTER THREE:
RESEARCH METHODOLOGY
3.1 Research Design
36
3.2 Sources of Data
37
3.3 Area of study 38
3.4 Population of
Study 38
ix
3.5 Determination of
Sample Size 38
3.6 Reliability Test
40
3.7 Validity Test 41
3.8 Method of Data
Analysis 41
CHAPTER FOUR:
PRESENTATION AND ANALYSIS OF DATA
4.1 Presentation of
Data 43
4.2 Analysis of Data
43
4.3 Testing of
Hypotheses 60
CHAPTER FIVE: SUMMARY
OF FINDINGS, CONCLUSION AND RECOMMENDATIONS.
5.1 Introduction 67
5.2 Summary of
findings 67
5.3 conclusion 69
5.4 Recommendations
70
Bibliography 72
Appendices 74
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.
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