THE IMPACT OF COST ACCOUNTING IN THE MANAGEMENT OF MANUFACTURING INDUSTRY IN A DEVELOPING ECONOMY
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TITLE PAGE
THE IMPACT OF COST ACCOUNTING IN THE MANAGEMENT OF MANUFACTURING INDUSTRY IN A DEVELOPING ECONOMY
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "the impact of cost accounting in the management of manufacturing industry in a developing economy" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
PROJECT DESCRIPTION: This work "the impact of cost accounting in the management of manufacturing industry in a developing economy" research material is a complete and well researched project material strictly for academic purposes, which has been approved by different Lecturers from different higher institutions. We made Preliminary pages, Abstract and Chapter one of "the impact of cost accounting in the management of manufacturing industry in a developing economy" visible for everyone, then the complete material on "the impact of cost accounting in the management of manufacturing industry in a developing economy" is to be ordered for. Happy viewing!!!
In this time of rising prices, brewery like any other manufacturing company needs an efficient system of cost control as an essential factor in reducing the cost system of production in order to maximize profit. Due to inefficient cost control system some companies just manage to break even or in most cases make substantial losses hence our assessment of cost control in Nigeria manufacturing at Guinness. As a result of this, our finding is to show the appropriate system of cost control which can be used to minimize production system of cost and its effect under the manufacturers condition. The entire study consist of five chapters, chapter one introduced us to the study, highlighted the background, purpose of the study and an insight into the historical background of Guinness Nigeria plc. Chapter two is a relevant literature on cost while chapter three briefly discuss the research method applied. A detail of data obtained in chapter four, chapter five the last chapter, contains summary, conclusion and recommendation.
TABLE OF CONTENTS
Title Pages
Certification
Dedication
Acknowledgements
Table of Contents
CHAPTER ONE
- Introduction
- Background of the Study
- Problem of the study
- Aims and Objectives of the study
- Plan of the Study
- Organization of the study
- Significance of the study
CHAPTER TWO
- Literature Review
2.1 Cost Accounting Definition
2.2 Development of Costing Accounting
2.3 The Scope of Costing Accounting
2.4 Cost Accounting and Control
2.5 Cost Accounting and Decision Making
2.6 Cost Accounting and Planning
2.7 Difference between Cost Accounting and Financial Accounting
2.8 Difference between Manufacturing Company and Merchandizing
2.9 Principles of Cost Accounting
2.10 Techniques of Cost Accounting in the Manufacturing Industry.
CHAPTER THREE
- Research Methodology
3.1 Introduction
3.2 Historical Background
3.3 Sources of Data
3.4 Method of Data Analysis
3.5 Limitations of the Study
CHAPTER FOUR
- Data Presentation and Analysis
4.1 Introduction
4.2 Analysis of Data
4.3 Testing of Hypothesis
4.4 Findings
CHAPTER FIVE
- Summary Conclusion and Recommendations
5.1 Summary
5.2 Conclusion
5.3 Recommendations
Bibliography
CHAPTER ONE
- INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The importance of cost accounting in the affective management of any organization can in no wise be under rate, the absorption becomes a necessity when viewed against the background that other branch of account such as financial accounting, management account have among a my raid of scholarly publication. Infact cost accounting should be indealy juxtaposed with other area of accounting system in order to have on effective accounting system.
The Global soap and detergent industry limited is a member of doing group of company. The factory was incorporated in (1984) as the first indigenous detergent company in Kwara State. The company commenced production in December (1985) their main products as flashing (The family detergent for laundry given you cloth the flashing clean looks) sock power super deal boid and vogue – also are Hi- clear secouring power group soap and Hi – clean bar soap. After two years of production of scouring powder. The company stated using buy product of detergent in 1998 supplications plant was introduced while in 1989 soap plant was incorporated by using water from over head storing plant which are made under hand. They sources their electricity supply for NEPA with assistances of steady generators.
Quality has been the watch of the company since its in option in 1988 their efforts were recognize with award N1.5m quantity certification mark to their detergent key brand.
The net weight of the company product are:-
Flash - 200kg
Washite - 10kg
Washive - 2k & 5kg
Super deal - 200kg
Grand Toilet Soap - 12kg
Clean bar soap - 120kg
The company was formerly commissioned in 1992 by president Ibrahim .B. Babaniga (Rtd) the company has spread all over the country in the following areas, Ilorin, Ibadan, Aba, Jos, Kanu, Sokoto, Maidiguri, Abeokuta, Benin, Onisha, Enugu and Lagos.
- 2 PROBLEM OF THE STUDY
This research study comprehensively discuss the area of in effect of cost Accounting system in manufacturing Industry with emphasis on Global Soap and detergent, Ilorin also finding the effects and importance of cost Account system in relationship with manufacturing accounting.
1.3 AIMS AND OBJECTIVE OF THE STUDY
This research study is aimed at achieving full objective nigh light the impact of cost accounting in the effects management of manufacturing industry in a developing economy to determine extent to which costing information are relevant and it is benefit to the management of the economy.
Further more to examine the genine problem of cost account confronted in manufacturing industry and outline iof the solution to them. However it is hope that the result of this study after completing would be useful in explaining. The role of cost accounting in the effect management of manufacturing industry in a developing economy to determine extent to which costing information are relevant and it is benefit to the management of the economy.
1.4 SCOPE OF THE STUDY
Basically the study would therefore focus its attention on experience of a selected manufacturing industries in developing economy.
1.5 SIGNIFICANCE OF THE STUDY
It is good for any organization to embark on cost accounting in a manufacturing industry. It is imperative of this organization to provide system of cost account in an effect manner. The research work will highlight the significance of the cost accounting the research will help:-To measure profit in relation to accounting period
To provide information for management control of cost
To provide information for management control of sales
To provide information for management control of stock
To provide information for planning and decision making
1.6 ORGANISATION AND PLAN OF THE STUDY
Basically with a view of systematic presentation and analysis of the research study the project is broadly written and contain five chapters.
Chapter one of this project contain introduction background of the study, aims methodology, source of data, organization and plan of the study. Chapter two for the purpose of this project work focused on the literature review of the study and brief explanation of the topic chapter three of this research work contain the research methodology (principle) chapter four is largely developed and comprise the Data presentation analysis and analysis of data, such as problem prospects of cost accounting in Global Soap and detergent industry.
The last chapter gives the summary of the project work and also gives the conclusion and recommendation and Bibliography of the research work.
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "the impact of cost accounting in the management of manufacturing industry in a developing economy" is also available. Order full work to download. Chapter two of "the impact of cost accounting in the management of manufacturing industry in a developing economy" consists of the literature review. In this chapter all the related work on "the impact of cost accounting in the management of manufacturing industry in a developing economy" was reviewed.
CHAPTER THREE: The complete chapter three of "the impact of cost accounting in the management of manufacturing industry in a developing economy" is available. Order full work to download. Chapter three of "the impact of cost accounting in the management of manufacturing industry in a developing economy" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "the impact of cost accounting in the management of manufacturing industry in a developing economy" is available. Order full work to download. Chapter four of "the impact of cost accounting in the management of manufacturing industry in a developing economy" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a "the impact of cost accounting in the management of manufacturing industry in a developing economy" is available. Order full work to download. Chapter five of "the impact of cost accounting in the management of manufacturing industry in a developing economy" consist of conclusion, recommendation and references.
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