- The Complete Research Material is averagely 52 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦6,000
Get the complete project »
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
The main concern of this work is the research on the impact of cost accounting in manufacturing organization. In the last ten years or more, the Nigeria economy has been going through a turbulent phase a development which has been going through greatly affected the manufacturing sector of the economy.
Ever since use of the money replaced “barter” people have been into one form of business of the other for direct exchange for money in the business world. This has made businesses out grown its boarder, businesses has grown from smaller unit into multinational because such businesses have applied simple cost accounting system and techniques.
Cost accounting help to allocate the expenditure of a business in such a way it is possible to ascertain the cost of each job, contract or process carried out per time. However, it is by no means its function amongst other benefit occurring from cost accounting, is that it helps to distinguished between unpredictable activities from the profitable ones. It indicated source of wastage or losses whether of time materials or in the usage of machinery equipment or tools decision making e.g. a function of management is a process that requires details, the past and present so that we can tackle future challenge so as to achieve organizational set goals.
Cost accounting is mainly concern with internal reporting to management so as to be able to plan control and make effective decision that will emanate to goals effectively and efficiently. It is therefore follow that the role of cost accounting in an organization such as hospitals, transportation companies, financial houses, manufacturing companies should no be over emphasized to goals effectively and efficiently. It is therefore follow that the role of cost accounting in an organization such as hospitals, transportation companies, financial houses, and manufacturing companies should not be over emphasized.
1.2 Statement of the Research Problem
From the foregoing it has been stated that, management has the responsibility of making decision in business entity and it should also be known that if a wrong decision is made, it will go a long way in affecting the output of such organization and when a right decision is made at the right time there will be positive result and organizational goals are achieved effectively and efficiently. It therefore means an efficient application of cost accounting techniques and method necessary for dry business concern. Despite this glaring and obvious facts, some entrepreneur/managers still complain of high cost of installation and maintenance of this vital system. Others too see this system as a mere duplication of financial accounting role.
It has observed that to a large extent that the major course of failure in business organization is due to the negatives of non application of these vital tools of costing techniques in its day to day operations.
The non application of costing techniques has led to the following problems.
1. Poor/inaccurate accumulation of product cost in other words, the cost of product is not truly know.
2. Poor/inadequate information that is needed to enable the company establish competitive selling price especially when in other words, the product cannot be ascertained.
3. Poor/inadequate information that is needed for planning, control and decision making.
4. Poor/inadequate information makes it difficult for proper control of activities thus leading to increase in waste, losses etc.
Thus, this study is embarked upon to critical evaluate and report as to whether or not efficient cost accounting system is in place.
1.3 Objectives of the Study
The study seek to achieve the under listed objectives.
1. To investigate and report on whether cost accounting techniques is in operation.
2. Investigation and report on the problem or constraints of establishing cost accounting system.
3. Investigate and report reasons why most entrepreneurs do not apply cost accounting techniques.
4. Investigate and report the impact of cost accounting techniques.
5. Makes appropriate recommendations on the subject matter.
1.4 Research Question
In trying to find out more about the impact of accounting in manufacturing organization, the following research questions have been raised;
a. What are the various problems of establishing cost accounting system?
b. To what extent has proper cost accounting have effect on an organization?
c. To what extent can it be that cost accounting system is in operation?
d. To what extent does accurate cost accounting serve in the life of the manufacturing organization?
e. To what extent can it be said that cost accounting generate adequate information for planning, control, and decision making in an organization?
f. What are the various reasons why most managers/entrepreneurs do not want to establish cost accounting system in their organization?
g. To what extent can it be said that management make use of this information generated from cost accounting in formulating its policies for the organization?
h. What are the general recommendations?
1.5 Justification of the Study
This study is significant in what;
a. The findings and recommendation are veritable tools for decision making for management.
b. The study will be use for persons interested on the subject matter.
c. The study will help to update the literature on the subject matter.
d. This study can serve as a base for further studies on the subject matter.
e. The study will help potential manufacturing organization to install or improve on their cost account system.
1.6 Scope of the Study
The scope of this study is centred on the impact of cost accounting in manufacturing organization as it relates to Beta Glass Company Limited, Ughelli, however, findings can be use to generalize on the subject matter.
1.7 Limitation of the Study
The research encounters a lot of constraints both human and non – human.
The study was faced with financial problem as well as challenges of time. Also some information was treated as top secret. Be that as it may, the data available for the study will be sufficient to achieve the stated objectives.
1.8 Research Methodology
The study made of both primary and secondary data. Primary data were gotten from observation and questionnaires. Whereas, secondary data were gotten from journals, books, interview etc.
The statistical tools used to analyzed the data were collected was the chi – square method and simple percentage method.
1.9 Plan of the Study
The research work contains five chapters, chapter one covers the background of the study, statement of the research problems, objectives of the study, research questions, justification of the study, scope of the study, plan of the study and definitions of terms of the study.
Chapter two covers the literature review while chapter three deals with research methodology, chapter four focuses on the data presentation and analysis and chapter five covers the summary, findings, conclusion and recommendation of the study.
1.10 Definition of the terms
A. Cost: This defined as that which is given or sacrifices to obtain something
B. Cost accounting: It is that part of management accounting which established budget and standard cost and actual of operations, process, department or products and the analysis of variance, profitability of social uses of fund.
C. Classification: This is the grouping of all item of expenditure, therefore can be classify under the following headings in common characteristics.
D. Cost centre: It is a place or person and equipment around which cost are segregated e.g. secretaries.
E. Idle time: Where workers are remunerated on the time basis the different between the home for which they have paid but from which he obtained no direct loan advantage.
F. Cost code: The institute of cost management has series of alphabetical and or numerical symbols each which represent a descriptive title in cost classification.
G. Cost audit: It is defined as the verification of the prescribed cost accounting procedure and the continue relevance of such opinions.
H. Cost unit: A qualitative unit of product or services in relation to which cost is ascertained.
I. Cost absorption: Absorption refers to the process of dividing cost in some equitable ways among the numbers of cost on cost centre.
J. Cost allocation: This means tracing cost to cost and then making transfer to reflect wages of one cost centre by another.
K. Fixed cost: A cost which occurred in relation to the passage of time, and within certain output of turnover.
L. Variable cost: A cost which is aggregate tend to vary indirect proportion to changes in the volume of output or turnover. Examples are material, labour, power or steam etc.
M. Contribution: This can be defined as the difference between sales value and marginal cost of sales.
N. Ideal standard: This is based on perfect performance, it is assumed there is no wastage, no deficiency, no idle time, no breakdown, or either imperfection in the manufacturing process.
O. Attainable standard: This is a sort of average achievement wastage avoid and reasonable allowance makes for breakdown and after amendable lapses for perfect efficiency.
P. Capacity ratio: A measure of the use that is made of resource in the capacity ratio.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
-
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
-
1. THE EXTENT OF ACCOUNTING RECORD KEEPING IN PRIVATE ORGANIZATION (A CASE STUDY OF ETERNIT LTD, SAPELE)
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study In turbulent time, business has to be managed properly in order to withstand the changes in the e...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
2. LEASING: A TOOL FOR GENERATING INCOME VIA PROPER ACCOUNTING TECHNIQUES (A CASE STUDY OF C AND I LEASING PLC, WARRI, DELTA STATE)
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study The need for good leasing financially in Nigeria cannot be overemphasized, although equipment lea...Continue Reading »Item Type & Format: Project Material - Ms Word | 45 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
3. IMPACT OF TREASURY SINGLE ACCOUNT ON THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF ZENITH BANK PLC)
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY The activities of treasury single account are mostly seen among the commercial banks in banking s...Continue Reading »Item Type & Format: Project Material - Ms Word | 64 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
4. EFFECTIVENESS OF CLASS SIZE IN EFFECTIVE TEACHING AND LEARNING OF ACCOUNTING IN JUNIOR SECONDARY
» CHAPTER ONE INTRODUCTION 1.1 Background to the study Education is the systematic training of the individual in order to bring about positive change in...Continue Reading »Item Type & Format: Project Material - Ms Word | 61 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
5. PROBLEMS AND PROSPECTS OF MANAGING STUDENT HOTELS IN NIGERIA (A CASE STUDY OF UNIVERISTY OF UYO, HOSTELS)
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY According to Okoh (2004), Nigeria has the biggest university system in sub Saharan Africa with 11...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
6. EFFECT OF INTANGIBLE ASSETS ON VALUE REL EVANCE: EVIDENCE FROM LISTED MANUFACTURING FIRMS IN NIGERIA
» ABSTRACT The increasing importance and role of intangible assets in today's economic environment is a source for concern for scholars and accounting p...Continue Reading »Item Type & Format: Project Material - Ms Word | 83 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
7. INVENTORY MANAGEMENT AND CONTROL: A STRATEGY FOR EFFECTIVE PRODUCTION (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC)
» CHAPTER ONE 1.1. BACKGROUND OF STUDY It is generally accepted that the primary objective of most business enterprise is to make profit by identifying ...Continue Reading »Item Type & Format: Project Material - Ms Word | 109 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
8. THE ROLE OF BUDGETING IN THE MANAGEMENT OF PUBLIC INSTITUTIONS: A CASE STUDY OF ENUGU STATE MINISTRY OF WORKS AND HOUSING, ENUGU.
» ABSTRACT It is now a common knowledge that budgeting plays an invaluable role in our public institutions. However, this administrative tool has hardly...Continue Reading »Item Type & Format: Project Material - Ms Word | 59 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
9. IMPACT OF MANAGEMENT ON ORGANISATIONAL PERFORMANCE
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The concern for high productivity in industrial organizations is universal, and is the desire of ...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT
-
10. ASSESSMENT OF CREDIT RISK MANAGEMENT IN NIGERIA DEPOSIT MONEY BANKS
» TABLE OF CONTENTS Title page i Declaration ii Certification iii Approval iv Dedication v Acknowledgment vi Table of content vii Abstract x CHAPTER ONE...Continue Reading »Item Type & Format: Project Material - Ms Word | 43 pages | Instant Download | Chapter 1-5 | ACCOUNTING DEPARTMENT