Get the complete project »
- The Complete Research Material is averagely 57 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: ₦5,000
1.1 BACKGROUND OF THE STDUY
Costing technique is the process depending upon the purpose for which management require information. Management information for a variety of purpose, such as control, decision making, predicting profits and price determination. Based on these, certain techniques and procedures are applied in order to have a comparative analysis about costs both directly and indirectly engaged in manufacturing service.
The Oxford Dictionary of Accounting 3rd edition (2005), defined costing techniques as techniques and procedures used in cost accounting and management accounting to obtain the cost of service, products, processes, and cost centers to provide the information required to undertake performance measures, decision making, planning and control. Costing technique is also termed as a technique of costing which is designed to suit the way goods are processed or manufactured or the way goods are provided, Lucy T. (2002). Therefore, each organization which uses costing techniques has unique features that will suit the company (firm).
Based on the above definitions of costing techniques an organization will field increase in profit if they apply the costing technique at where it is deemed appropriate. Therefore, this research is to examine costing technique as being applied in Mosmann Water Company Limited to see the impact it has created in the profitability of the organization.
1.2 STATEMENT OF THE PROBLEM
The rapid increase in competition among organizations has brought about an increase in awareness of profitability and the cost associated with the delivery of products and services.
These bring into question the relevance of traditional accounting information for decision making, conventional and managerial accounting information is largely driven by the procedures of the organizations reporting system which provides information that is to be aggregated and used. The problem is how to use this information to be planning and controlling of decision, vis avis profitability.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study are to find out the following;
i) To examine if the impact of costing technique aid in the profitability of an organization. ii) To find out if the appropriate costing technique is being adopted by Mosmann Water Company Limited.
iii) To determine whether costing techniques help in the ascertainment of costs of a specified thing.
iv) To find out the problems associated with the application of costing techniques in an organization. v) To make useful recommendations based on research findings. RESEARCH QUESTIONS i) Does costing techniques aid in the profitability of an organization? ii) Does costing techniques help in the ascertainment of costs in an organization?
iii) Which of the costing techniques is deemed appropriate to apply in an organization?
iv) What is the problem associated with costing techniques in an organization?
1.5 RESEARCH HYPOTHESES
HO: There is no significant difference between costing techniques and profitability in an organization.
Hi: There is a significant difference between costing techniques and probability in an organization.
HO: Costing techniques does not help in the ascertainment of a specified thing.
Hi: Costing techniques do help in the ascertainment of a cost.
1.6 SIGNIFICANCE OF THE STUDY
The ultimate goal of any industry or organization is to maximize profit. The goal can be achieve in the manufacturing or production company like Mosmann Water Company Uyo, through costing techniques on the probability of an organization.
The study is necessary because it would enable the employer and employee of Mosmann Water Company Limited to improve on the ethical behaviour in the management of the company.
It would be of immense benefits to investors who want to invest in the company and the shareholders of the company to earn more profit. It would also serve as a reference material (source) to researchers who might want to further studies in similar topic.
1.7 SCOPE OF THE STUDY
This study centered on appraising the impact of costing techniques on probability with a particular reference to Mosmann Water Company Limited, Uyo.
1.8 LIMITATION OF THE STDUY
This study is limited to the following ways;
TIME CONSTRAINT: The period within which the study is conducted is short for through research study; hence, gathering adequate information becomes very difficult. FINANCE: This is one of the limitations to the scope of this study as the researcher is facing financial constraint to meet all the needed educational requirements including this research work. This caused the researcher to restrict her research work to one organization for possible study. LACK OF MATERIALS: Lack of materials to topic is also another limitation to this research work, hence the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the establishment under this study through the administration of questionnaire and oral interview.
1.9 DEFINITION OF TERMS
COST: According to CIMA defined cost as the amount of expenditure (actual or national) incurred on, or attributable to a specified thing or activity. COSTING: Costing is defined as collecting, recording, classifying and allocating expenditure to ascertain the cost of product or service for planning and control purpose by indicating points where corrective action is required (Anuolam 1997).TECHNIQUES: This is a method of achieving something or carrying something out especially one requiring some skill or knowledge (investopidia.com) PROFITABILITY: This is the quality or state of being profitable. STANDARD COSTING: This can be defined as preparation of standard costs and their use to clarify the financial results of a business particularly by the measurement of variations of actual costs from standard costs and analysis of causes of the variations for the purpose of maintaining maximum efficiency by executive action (Batty, 2006). COSTING SYSTEM: This method is to be adopted by an organization depends upon the nature of productive being under taken by the organization (Kingsley, 2003).
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR ADULT EDUCATION FINAL YEAR PROJECT RESEARCH TOPICS
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Music had long already made its appearance in the movie theatres; “a paid pianist was present t...Continue Reading »
2. DRUG ADDICTION AMONG THE YOUTH OF MUCHIA AND CHIKAJI LOCAL GOVERNMENT AREA OF SABON GARI ZARIA KADUNA STATE» CHAPTER ONE INTRODUCTION 1.1 Background of the Study The twin problem of drug trafficking and abuse is a global phenomenon with serious threat to the ...Continue Reading »
» CHAPTER ONE (A CASE STUDY OF BAYELSA STATE 2016 ELECTION) 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Nigeria as a country has had so many setbacks thro...Continue Reading »
» CHAPTER ONE INTRODUCTION Background to the Study Education is the industry that produces manpower for the economy of nations. Therefore, education enh...Continue Reading »
» CHAPTER ONE GENERAL INTRODUCTION 1.1 Background of the Study All of us travel at least once in our life and when we are at a new place one of the majo...Continue Reading »
6. THE INFLUENCE OF ADULT EDUCATION IN THE PRESERVATION OF CULTURAL HERITAGE (A CASE STUDY OF IKWERRE IN PORT HARCOURT)» CHAPTER ONE INTRODUCTION 1.1 Background of the study Book and Vondracek (2006) highlighted several past involvements of adult education in the preserv...Continue Reading »
7. THE RANDOMIZE COMPLETELY BLOCK DESIGN ANALYSIS ON THE EFFECT OF SEASON ON THE RATE AT WHICH PEOPLE CONTACT SEXUALLY TRANSMITTED DISEASES» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY The continuous change in climate as a result of variation in season has significant effect on the...Continue Reading »
8. AN ASSESSMENT OF GOVERNMENT INVOLVEMENT IN ADULT LITERACY PROGRAMMES IN IKPOBA-OKHA LOCAL GOVERNMENT» CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Nigeria as a developing country has evolved from stage to stage since the period of Colonialism. ...Continue Reading »
9. THE IMPACT OF MOTHER TONGUE ON CHILDREN’S LEARNING AT THE LOWER LEVEL OF PRIMARY EDUCATION (A CASE STUDY OF SOME SELECTED PRIMARY SCHOOLS IN SOKOTO ...» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Mother tongue as the first language of instruction in schools is an essential tool in whatever fi...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The civil services as we have in Nigeria today has its origin in the administrative machinery cre...Continue Reading »