+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

SIGNIFICANCE OF MANAGEMENT ACCOUNTING IN NIGERIA

  • Type:Project
  • Chapters:5
  • Pages:84
  • Methodology:Chi Square
  • Reference:YES
  • Format:Microsoft Word
(Accounting Project Topics & Materials)
SIGNIFICANCE OF MANAGEMENT ACCOUNTING IN NIGERIA
TABLE OF CONTENTS

CHAPTER ONE: INTRODUCTION
1.1    Background to the Study
1.2      Statement of Research Questions
1.3       Aim and Objective of Study
1.4     Scope of Study
1.5    Significance of the Study
1.6    Hypothesis
1.8    Limitations
CHAPTER TWO: LITERATURE REVIEW
2.1    Background of the Study
2.2    Management Accounting Theory
2.3   Management Accounting Application
2.4    Planning And Control
2.5     Cost Information
2.6    New Role
2.7   Professional and Group Designation
2.7.1 Compensation
2.8 The Advantage of Management Accounting
2.8.1 Improve Profitability
2.8.2   Strong Decision Making  
2.8.3   Better Financial Report
CHAPTER THREE: RESEARCH METHODOLOGY
3.1    Research Design
3.2    Source of Data
3.3    Designing of Research Instrument
3.4    Population
3.5    Sample Size Determination
3.6    Research Instrument
3.7    Procedure For Gathering of Data
3.8    Data Analysis
3.9       Validation of Instrument
3.10    Limitation of Methodology
3.11    Percentage Frequency Distribution
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1     Data Presentation
4.2    Hypothesis Testing
 CHAPTER FIVE: FINDING, CONCLUSION AND RECOMMENDATION
5.1     The Following are the main Finding from the Study
5.2    Recommendation of Findings                  
5.3    Conclusion  
5.4     Suggestions for Further Studies
    Bibliography                              
Appendices                                
CHAPTER ONE
1.1     INTRODUCTION
         Management accounting or managerial accounting is concerned with the provision and using of accounting information to managers within an organization to provide items with the basis to make informed business decision that will allow them to be better equipped in the managerial and control function.
      In contrast to financial accounting information, management accounting information is design and intended for use by manager within the organization instead of being intend for by shareholders, creditors and public regulators.
       It is usually confidential instead in stead of being public report. It is forward looking (futuristic) and not historical.
Management accounting has be defined by chartered institute of management accounting (CIMA) 0as the p0rocess of identification, measurement, analysis, accumulation, preparation, interpretation, and communication of information used by to plan, evaluate an control within an entity and to ensure appropriate use and accountability of it resources. Management accounting also comprises the preparation of financial report for non 1. management group such as shareholders, creditors, regulatory agencies and tax authorities. CIMA, (2001).
  Management accounting as a practice extend to the following three areas;
1.     Strategic management: Advancing the role of the management accountant as a strategic partner in organization.
2.     Performance management: Developing the practice of business decision making and managing the performance of the organization.
3.     Risk management: Contributing to the frame work and practices for identifying, measuring, managing and reporting risk to the achievement of the objective of the organization.
 The origin of management accounting which as a branch of accounting has been trace to the nineteenth century. The accounting practice that was in use in the mid 1980’S has  been developed in 1925.For the next 60yrs  there was a slow down in the development of accounting, these was attributed to the demand of product cost information for external report. The separation of ownership from manager gave rise to the requirement of financial report (an audited financial report which should be provided annually) and must be conform with the laid down rule of the Generally Accepted accounting principle.
 Some of the important or significance of management accounting are as followed:
1.    It provides information for the control, planning, performance evaluation and continuous improvement.
2.    Allocations of cost between cost of goods sold and inventory for internal and external profit reporting.
3.    Provision of relevant information to help to help managers make relevant information.
HOW MANAGEMENT ACCOUNTING INFORMATION HELP THE MANAGEMENT
1.    For effective planning: Budget(goals and desire of management in quantifiable term) and performance report (comparing budget information and actual information).
2.    To direct operations: examine cost/price re0lationship0 to develop market/advertising strategies.
3.    For prob0lem solving: Determination of appropriate re0lationship between cost and price for forecasting.
THE DIFFERENCE AND SIMILIARTIES OF MANAGEMENT ACCOUNTING AND FINANCIAL ACCOUNTING
Financial accounting report what happened in the past (historical data), it is for external use, it has very précised information that follows rules and it is mandatory for business.
 Management accounting on the other hand provides data that are used internally by managers for their day to day operations. It place emphasis on the future- production of cost and revenue of alternate course of action. It emphasize and flexibility of data – information must be relevant to the problem at hand rather than follow a set of rule. Management need to make a good estimate do not necessary need to follow a set of rule.
It place emphasis on non-monetary data and estimate with less emphasis precision. It also emphasize on segment or department of the organization rather than whole; for example department, division etc.
Management accounting is not mandatory, an organization is completely free to do as much as little management accounting as it wishes. The most important question is “is the information useful”. Marquise, (2010).
SIMILIARITIES BETWEEN MANAGEMENT ACCOUNTING AND FINANCIAL ACCOUNTING                                         
1. Management accounting relies on financial accounting information (unbiased support materials).
2.     Both are concerns with responsibility on stewardship to organizations.
3.     Both requires accounting information that must be Relevant, timely and accurate.
1.2      STATEMENT OF RESEARCH QUESTIONS
1.     Does poor management accounting skills have an impact in corporate organizations?
2.      To what extend does management accounting affects the organizations?
3.     How can the service of management accounting be improved in an organization?
1.3       AIM AND OBJECTIVE OF STUDY.
1.      To determine the important of management accounting in  organizations.
2.     To examine the different between management accounting and financial accounting.
3.     To determine if there is an option to management accounting.
1.4     SCOPE OF STUDY
The scope of study is the significance of management accounting: To determine the impact of management accounting in an organization and how it is applied.
1.5     SIGNIFIACNE OF STUDY
The research work will be broaden down to the understanding of the different impact or significance of the management accounting to the interested parties.
 The research will also be of benefit to top management decision makers.
1.6        HYPOTHESIS.
H0:     Null hypothesis  Management accounting does not play effective role in an organization.
H1:  Management accounting play effective role in an organization.
1.7    LIMITATIONS
1.     The study is restricted to management accounting.
2.     The research is restricted to data collection as a result of difficulty usually encounter in obtaining the require data.
3.     Incomplete data gotten from the internet.


SIGNIFICANCE OF MANAGEMENT ACCOUNTING IN NIGERIA

Share This

Details

Type Project
Department Accounting
Project ID ACC1650
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 84 Pages
Methodology Chi Square
Reference YES
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC1650
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 84 Pages
    Methodology Chi Square
    Reference YES
    Format Microsoft Word

    Related Works

    (Case Study of Nigeria Guinness Plc) ABSTRACT 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... Continue Reading
    ABSTRACT Research project examined the significance of accounting standard (SAS) in the preparation of financial statement with special reference to Guinness Nig Plc, Lagos. The most common report from external use are the financial statement included in the annual report to shareholders (owners) and potential investors. These financial statement... Continue Reading
    THE SIGNIFICANCE OF PERSONNEL MANAGEMENT IN BUSINESS ORGANISATION (A CASE SYUDY OF NIGERIA BREWERIES PLC 9TH MILE CONER ENUGU) TABLE OF CONTENT CHAPTER ONE 1.O INTRODUCTION 1.1 GERNERAL BACKGROUND TO THE SUBJECT MATTER 1.2 PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER 1.3 PROBLEMS THAT THE STUDY WILL BE CONCERNED WITH 1.4 AIMS AND OBJECTIVES OF THE... Continue Reading
    THE SIGNIFICANCE OF PERSONNEL MANAGEMENT IN BUSINESS ORGANIZATION (A CASE STUDY OF NIGERIA BREWERIES PLC 9TH MILE CORNER, ENUGU) ABSTRACT Personal management is a mental activity that is concerned largely with a work or planning, organizing and controlling the activities of an organization for the accomplishment of certain designated objectives.... Continue Reading
      CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY         Cost accounting (CA), which measures and reports financial and non-financial information related to the organization’s acquisition or consumption of resources , has an... Continue Reading
    A CASE STUDY OF NNPC ENUGU AND PORT-HARCOURT ABSTRACT This Research examined the relevance of Pipeline transportation to the marketing of Petroleum products in Nigeria. Toward this end 83 staff of the Nigeria national Petroleum Corporation (NNPC)’s... Continue Reading
    ABSTRACT This Research examined the relevance of Pipeline transportation to the marketing of Petroleum products in Nigeria. Toward this end 83 staff of the Nigeria national Petroleum Corporation (NNPC)’s offices in Enugu and Port-Harcourt were randomly selected to form the study sample. The 83 members of the study sample were given 83 copies of... Continue Reading
    (A CASE STUDY OF OREDO LOCAL GOVERNMENT AREA OF EDO STATE) ABSTRACT This research was designed to examine the significance of family planning towards the increasing population of Nigeria in Oredo local government area in Edo State. The research instrument used was... Continue Reading
    ABSTRACT The main objective of this research work are to ascertain the major factors that affect the Management Accounting practices in Nigerian banks. That is why this study was designed to cover both the long and short term quantitative management decision in Nigeria banks. Primary... Continue Reading
    ABSTRACT The industrialization of every nation emanates from the ability of private individuals and government in business to make optimum allocation of available resources in order to achieve future objectives. Business in the third world countries is characterized by... Continue Reading