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1.1 Background of the Study
Management accounting techniques for decision making in manufacturing organization is seen as a components in decision making in manufacturing in an organization however it is the most important kind of work that is done in any organized human activity. It has long been recognized that success growth and survival of any business depends on the frame work quality of decision making by management in terms depends on the quality and term lines of an information available to the decision makers.
In management accounting or managerial accounting managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations which allows them to better manage and perform control function in the organization in 1919. The history founding of the national Association of Cost Accountants (NACA) in Buffalo, N.Y forerunner of the IMA and the first Conference held in Atlantic City and in 1969 management Accounting Practices Committee established, 1972 Certified Management Accounting (CMA) program created the first statement on management Account9ing. 1983 Standard of Ethical conduct of management accountants, the first code of ethics for management accountants in the U.S. Issued.
According to the Institute of management Accounting (IMA): “Management accounting is a profession that involves partnering in management decision making devising planning and performance management systems and providing expertise in financial reporting and controls to assist management in the formulation and implementation of an organization’s strategy. There are three key areas which management accounting techniques operates in decision making in manufacturing in organization.
1. Strategic management: Advancing the role of the management accountant as a strategic partner in the organization.
2. Performance management: Developing the practices of business decision making and managing the performance of the organization.
3. Risk management: Contributing to frameworks and practices for identifying, measuring, managing and reporting risk to the achievement of the objectives of the organization.
Management accounting applies his or her professional knowledge and skill in the preparation and presentation of financial and other decision oriented information in such a way as to assist management in the formulation of policies and in the planning and control of the operation of the undertaking management accounting is seen as the value creators amongst the accountants. They are much more interested in forward looking and taking decision that will affect the future of the organization. They can obtain from varied fields and functions within an organization, such as information management treasury, efficiency auditing, marketing valuation pricing, logistics, etc.
1.2 Statement of the Problem
Our society has become a society of business and organizations and these has brought relevance of advertising in our modern world today management accounting techniques for decision making in manufacturing in organization entails a lot of the accounting information on decision making concern with providing information, which will help decision makes to make decision in the organization. The statement of problem is how information, decision making impact in the organization has and how has manager deal with management accounting techniques because in every organization the major issues is how do the management plan, control it resources in operation and make efficient use of resources which will enable the organization to move forwards and achieve its objectives.
1.3 Purpose of Study
This study was conducted
1. To ascertain the extent at which the strategies management accounting technique was adopted by companies.
2. To provides in making decision a description and intensity of usage of a fundamental set of strategic management accounting techniques for decision making in manufacturing in organization.
3. To investigate some variable that may influence the use of strategic management accounting techniques which the managers use in decision making.
4. To examine how the manufacturing organization make use of management accounting techniques in their decision making.
5. To determine how management accounting techniques could enhance management decision in manufacturing organization.
1.4 Research Question
This study seeks to provide answer to the following research questions.
1. Does manufacturing organization make use of accounting techniques in their decision making?
2. Does manufacturing make use of management techniques in decision making?
3. What are the roles of management accounting techniques in promoting business excellence and values?
4. Does a management accounting technique enhance management decision in manufacturing organization?
5. How does decision making impact in the management in manufacturing in organization?
6. How does decision making contribute to the organization and its growth and development?
7. In every organization what are key element in the organization?
8. What does effect enhancing in decision making in organization?
1.5 Research Hypothesis
To actualize and investigate some variable that may influence the use of strategic management accounting.
A. Ho: There is no adoption of strategic management accounting techniques by some other companies.
Hi: Strategic management accounting techniques usage rate is not higher in larger companies than medium companies.
B. Ho: There is no significant relationship between accounting information and the decision making process of a manufacturing organization.
Hi: There is significant relationship between accounting information and the decision making process of a manufacturing organization.
1.6 Significance of the Study
The study would provide the necessary information about how the organization in Port Harcourt Metropolis could be managed and controlled. Firstly, its provides small scale business enterprise entrepreneurs in Port Harcourt metropolis with information to plan and control business activities accounting information helps small manufacturing organization to generate sound information to guide and support the effective decision making process by manufacturing organization in Port Harcourt metropolis. Secondly, it will help the student of the higher learning in their research in the sense that it will serve as a source of information in theory further research in the area of study.
Finally, the study will help the management small business to improve upon the system of accounting information in the organization, so as to improve the quality of effective decision leads to good business and good business lead to higher profit. It is therefore hope that this study will enable the coupon to become more profitable venture.
- To the organization the decision making help in checkmate the financial suspect and deal with the accountability, effectiveness and management of resources.
- To the other researchers it gives an insight on how to calculate developed ideals and strategies on how data collection, information will apply to decision making to help boast the researcher on what he/she in carrying out it research and help in ideals in its knowledge.
1.7 Scope of the Study
The study focuses on the influence of the management accounting techniques in decision making in manufacturing organization which is the central point in any manufacturing organization. It also helps on how to develop appropriate financial and non-financial performance measures to give a balanced perspective of any manufacturing organization. Also, give the privilege to outline the business excellence module and its application to a review of an organization’s effectiveness.
Given the above mentioned attributes this work would have needed enough time, finance and material to accomplish detailed analysis of its exercise but however the research prospect is based on management accounting techniques for decision making in manufacturing organization.
1.8 Limitation of the Study
The research work accounting information and decision process in management accounting techniques for decision making in manufacturing organization has certain constraints of the research some of which include; unavailability of sufficient related literature, lack of enough time, financial and material, however, the research is limited to lack of material resources information and existing literature on the subject contributed a serious setback as most of the information were extracted from journals and periodicals.
1.9 Definition of Terms
Information: These refers to facts relating to the practice of management accounting techniques in the manufacturing organizations, it also defined as the data which has been processed recipient and which of real or perceived value for the intended purpose which as for management account is to be for planning control and decision making.
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