Assessment Of The Effectiveness Of Accounting Information As A Tool For Management Decision In Manufacturing Companies In Osun State, Nigeria (original) (raw)
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Accounting Information and Managerial Decision Making in the Manufacturing Industry in Nigeria
Advance in Social Sciences Research Journal, 2019
In the contemporary business world, the role of accounting information in making or marring a business cannot be overemphasized. Recent worldwide advances in manufacturing technologies have brought about a metamorphosis in industry. This paper established the relationship between accounting information and managerial decision making in the manufacturing industry in Nigeria. The study was guided by the following research objectives; to establish the relationship that exists between accounting information and production decisions; to evaluate the relationship that exists between accounting information and human resource management decisions and to assess the relationship that exists between accounting information and marketing decisions in the Nigerian manufacturing sector. The research design adopted for this study is the survey design. The population of the study comprised of the eight companies in beverage sector of the manufacturing industry in Nigeria. The survey research made use of Seven Up Bottling Company Plc, and Nigeria Bottling Company as representatives of the manufacturing industry. Primary data was collected through administering of questionnaire to the staff of the companies. The sample size of the study was 382 derived from the Yaro Yamani's formula. Based on the findings, it was concluded that accounting information has an effect on managerial decision making in the Nigerian manufacturing industry. The study recommended that due to the importance of human capital in any organisation, promotion, transfer and retrenchment decisions should be handled with utmost sensitivity. Also, accounting information should therefore be inculcated into the taking of such decisions as it will affect the human resource management department and the organisation as a whole if the wrong decision is taken.
Management Accounting Usage: A Case Study of Manufacturing Companies in Osogbo, Osun State, Nigeria
Continental J. Applied Sciences, 2024
The study aims to report the importance and current use of management accounting usage by manufacturing companies in Osogbo. Data was generated using a questionnaire, which was conducted on a sample of 30 manufacturing companies in Osogbo. Descriptive statistics on the usage of individual practices provide the basis for discussion. The results showed that the respondents perceived Management Accounting Usage (MAU) to obtain relevant information for proper decision making. Several factors, including nature of the business, type of information needed for making decisions, and utilization of existing resources, affect the choice of MAU by the manufacturing companies. The study has shown that MAU supported the organizational structure and management accounting processes. Management accounting can provide relevant information for capital investment decisions, which allow accountants to produce discounted cash flow, payback period, and accounting rate of return.
IIARD, 2022
The study examines the assessment of the impact of management accounting Techniques on Financial Performance of Manufacturing Firms in Nigeria. The objective of the study is to determine whether management accounting Techniques can be used as a tool for performance evaluation in manufacturing company and to evaluate the relationship between the success of manufacturing firms and management accounting techniques, also to find out whether management accountants in manufacturing firms employ management accounting techniques in data analysis. Data were collected from primary source and secondary source for the study. However, as a survey study the data for the research will be collected through questionnaire and interview, The research design used for this study is both quantitative and qualitative. The study adopts simple random sample as the sampling techniques. The population of the study was 67 staff randomly selected from the targeted population. The findings of the study show that management accounting techniques have significant effect on the performance evaluation of manufacturing firm. Based on the findings the study recommended that Companies should consult professional accountants and techniques to be used when starting a business to learn about various laws that affect their mode of operations and also to familiarize them self with the variety of financial record that the need to maintain. Based on the findings one can conclusively affirm that management accounting employ management accounting techniques in decision making and that firms cannot do without management accounting practices. Management should adopt techniques that would aid attainment of organizational goals. Techniques employed should be constantly appraised to remove possible areas of weakness
European Journal of Economic and Financial Research, 2023
This study determined the extent of the adoption of management accounting practices as tools for decision-making in manufacturing firms in Anambra State, Nigeria. Two research questions were answered in the study and four null hypotheses were formulated and tested at 0.05 level of significance. The study adopted a descriptive survey design. The population of the study comprised of 292 owners and managers of registered manufacturing firms with the Ministry of Commerce and Industry, Corporate Affairs Commission, Awka, Anambra State. A purposive sampling technique was used to select a sample size of 228 registered manufacturing firms in Onitsha, Nnewi and Awka. Data for this study was collected using a structured questionnaire titled Questionnaire on Adoption of Management Accounting Practices by Manufacturing Firms (QOAOMAPBMF)' developed by the researchers based on the insight gained from the literature review and the research questions guiding the study. The reliability of the instrument was determined using the Cronbach Alpha coefficient which yielded a reliability value of 0.95 and 0.81 respectively for the two clusters with an overall reliability value of 0.88. Descriptive statistics of mean and standard deviation were used to answer the research questions to determine the homogeneity or otherwise of the respondents' views, while the ANOVA was used to test the null hypotheses at a 0.05 level of significance. The findings revealed that costing systems and budgeting systems are adopted as tools for decision-making by manufacturing firms in Anambra State, Nigeria to a great extent. Owners and managers do not significantly differ in their academic qualifications in this regard, but they differ significantly in their years of working
Management Accounting Practices and Performance of Listed Manufacturing Companies in Nigeria
2021
This study adopted a survey research design. The target population for this study was 20 manufacturing companies in Nigeria. Primary data obtained through the administration of structured questionnaires to selected respondents was used. The study targeted four hundred and ninety-nine (499) employees of the account, production, marketing and administrative departments from the 20 selected manufacturing companies adopting purposive sampling technique. Four hundred and twenty-five (425) correctly filled questionnaire were retrieved and used for the analysis, while regression analysis with the aid of SPSS 21.0 was utilized in testing the hypothesis.
European Journal of Business and Management Research, 2021
This study examined the effect of management accounting information system on the performance of listed consumer goods firms in Nigeria. The objectives of the study were to ascertain the effect of sales management system, management accounting reporting system and budgetary management system on the profitability of listed consumer goods firms in Nigeria. A survey research design was adopted and appropriately used for this study and 100 copies of questionnaire were administered to employees from the selected consumer goods companies. Data collected were analyzed with the aid of percentages and tables while statistical tools used for testing the hypotheses were simple regression analysis and ANOVA. The findings of this study revealed that; sales management system, management accounting system and budgetary management system affect profitability of listed consumer goods firms in Nigeria positively. The study concludes that accounting information system is critical to the production of quality accounting, sales and budget reports (information) on a timely basis and the communication of that information to the decision makers. The researchers recommend that organizations should strengthen their salesforce for effective revenue generation, ensure that management accounting reporting is timely and accurate for effective decision making, and budgetary control should be put in place for monitoring of activities of the business.
Australian journal of business and management research, 2013
This study tends to critically examine the impact of accounting information system in assisting organizations in making sound and effective decision. The major source of data to this research is primary data through the administration of questionnaires. Regression analysis and Karl Pearson's correlation was used for the data analysis. The findings show that accounting information system is an indispensable tool in decision making in today's turbulent world. Organizations are however, advised to invest on information technology tools as it improve their efficiency, effectiveness and their overall performance.
2020
The research work focuses on the role of accounting information systems on organizational performance (A study of Nigerian Bottling Company, 9 th Mile corner, Enugu). The objective was to: determine the extent to which accounting information enhances profitability of Nigeria Bottling Company. The researchers used survey research design. The population of the study is 140, while the sample size is 104 which was determined using the Taro Yamane Formula. It was found that the accounting information system had positive significant effect on the profitability of Nigeria Bottling Company, with (x 2 cal= 40.72>(x 2 tab) = 7.81). it was concluded that it is imperative that accounting information system is inevitable in the overall performance of the organization. With proper accounting information systems it can help the organization plan and making far reaching decisions that will help organization achieve competitive advantage. It was recommended that accounting information system sho...
The research focused on spotting a light on how the accounting information will affect the process of managerial decision making process. It focused on providing solutions for the common mistakes which the management fall into while using the accounting information to take any managerial decision. Moreover, the research will review as well the concept of accounting information and its role on the process managerial decision making. Design/ methodology/ approach: This research follows a descriptive analytics research method. The primary data was collected using questionnaires and interviews. Samples were selected based on random sampling technique. 53 samples were collected from those who were involved and related to the management and decision-making team of Omani Integrated Logistics Services Company. Data analysis was done using Microsoft Excel statistical functions. Findings: Based on the results and the main findings which were generated after conducting the research, it was revealed that the company wants to sustain its business activities and if they want to maintain their financial position in the market they need to focus on taking effective managerial and other type of decision. The company needs to always seek for the latest and advanced ways and strategies which will help the accounting department and other departments in recording the data and information without facing any problems or challenges. In addition, the financial information which is provided in the financial reports is considered as important factor which affects the process of decision making in the company.
ANTECEDENTS TO CHOICE OF MANAGEMENT ACCOUNTING PRACTICES AMONG MANUFACTURING COMPANIES IN NIGERIA
Globalization brings in new technology and makes a developing country open to greater competition. These changes in business environment have brought about changes in some firms characteristics. A structure questionnaire asking the respondents about changes in their firms characteristics and management accounting practices over a period of five years(2011-2015) was administered once among the management accountants/finance controllers of 154 manufacturing companies in Nigeria which are not listed on Nigeria Stock Exchange. 133 useful responses were subjected to factor analysis, reliability test and logistic regression. Factor loading of 0.4 was used as a threshold for factor analysis and 0.7 cronbach's Alpha was used for reliability tests. The study found out that manufacturing companies in Nigeria were not exempted from dynamic business environment as they increasingly used their competitive strategy, culture and Advanced Manufacturing Technology. The study established that firms' strategy, firms' culture and manufacturing technology have significant effect on management