THE ROLE OF ACCOUNTING INFORMATION IN MANAGEMENT DECISION MAKING

  • Type: Project
  • Department: Accounting
  • Project ID: ACC2597
  • Access Fee: ₦5,000 ($14)
  • Pages: 47 Pages
  • Format: Microsoft Word
  • Views: 1K
  • Report This work

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853
INTRODUCTION
Some organizations have failed woefully due to neglect in the use of accounting information in its decision making process. Managers, therefore should rely more on accounting information in its decision making process since decision making skill is “the key “ to successful planning in an organization. 
The statement of accounting standard No. 2 issued by the Nigerian accounting standard Board defines Accounting Information as “the data that are found in financial statement which provides a continuing history qualified in monetary terms of economic resources and obligations of a business enterprises and of economic activities that change these resources and obligations”.
Accounting Information therefore, provides the yardstick for measuring the performance of a business organization and is also an instrument against which management compare actual result with established standards. Thus, this information communicated by accounting records serves as a basis for corrective actions when actual outcomes deviate from pre-determined goals.
Accounting Information is not only needed by managers, other users of accounting information include: shareholders (owners), editors, potential investors, the government and the public who have supplied money to the business or who have other interest in the business that will be served by information about financial position and operating results.  
The type of accounting information that a specific type of user will require depends upon the kinds of decision that a person wants to make. For example, managers need detailed information about daily operating cost for the purpose of controlling the business and setting reasonable selling price. Other users on the other hand, usually need summarized information on operating result for the past years to use in making investment decisions, levying income tax, or making regulatory decisions.
Accounting information is conveyed to users in a variety of reports and schedules. Reports to internal user (management) are specifically designed to meet their particular needs, which are usually known at the time the reports are prepared. Reports to external user are more standardized and are often referred to as “financial statement”. According to the statement of accounting standard No. 2, the information to be provided in financial statement are those  that are quantitative and qualitative in nature to aid their users in making informed economic decisions. Financial statements are therefore to be simple, clear and easy to understand by all users.

TABLE OF CONTENTS
TITLE PAGE
APPROVAL PAGE
TABLE OF CONTENTS

CHAPTER ONE
1.1 INTRODUCTION
1.2 Introduction
1.3 STATEMENT OF PROBLEMS
1.4 PURPOSE OF STUDY
1.5 SCOPE OF STUDY
1.6 SIGNIFICANCE OF STUDY
1.7 LIMITTION OF THE STUDY

CHAPTER TWO
2.1 LITERATURE REVIEW
2.2 DEFINITION OF ACCOUNTING 
2.3 SCOPE OF ACCOUNTING
2.4 OBJECTIVES OF ACCOUNTING
2.5 SOURCES OF ACCOUNTING INFORMATION
2.6 ACCOUNTING FOR DECISION MAKING
2.7 ACCOUNTING INFORMATION
2.8 FEATURES OF ACCOUNTING INFORMATION
2.9 FINANCIAL STATEMENT AND THEIR INFORMATION, CONTENTS FOR MANAGEMENT DECISION MAKING.
2.10 ACCOUNTING CONCEPTS AND CONVENTIONS 
2.11 MANAGEMENT DECISION
 

THE ROLE OF ACCOUNTING INFORMATION IN MANAGEMENT DECISION MAKING
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This
  • Type: Project
  • Department: Accounting
  • Project ID: ACC2597
  • Access Fee: ₦5,000 ($14)
  • Pages: 47 Pages
  • Format: Microsoft Word
  • Views: 1K
Payment Instruction
Bank payment for Nigerians, Make a payment of ₦ 5,000 to

Bank GTBANK
gtbank
Account Name Obiaks Business Venture
Account Number 0211074565

Bitcoin: Make a payment of 0.0005 to

Bitcoin(Btc)

btc wallet
Copy to clipboard Copy text

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC2597
    Fee ₦5,000 ($14)
    No of Pages 47 Pages
    Format Microsoft Word

    Related Works

    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In a global market in the in the contemporary economic environment all businesses need relevant and appropriate information quantitative as well as qualitative information which is adequate to survive and grow in a... Continue Reading
    ABSTRACT Information as a life wire of any organization is very vital decision making manufacturing companies take decision concerning Production, pricing and marketing. Consequently, it is vital that relevant,... Continue Reading
    ABSTRACT This research was conducted after a thorough consideration of the role of accounting information in investment decision making. There is growing pressure around the world to promote greater transparency and disclosure, consistent with the importance of the growth of world trade and investment. Disclosure regulation varies internationally... Continue Reading
    ABSTRACT This research was conducted after a thorough consideration of the role of accounting information in investment decision making. There is growing pressure around the world to promote greater transparency and disclosure, consistent with the importance of the growth of world trade and investment. Disclosure regulation varies internationally... Continue Reading
    (A CASE STUDY OF NIGERIAN NATIONAL PETROLEUM CORPORATION - NNPC BENIN CITY) ABSTRACT This project research work attempts to explain the Cost Accounting Information as an aid to decision making in an organization using Nigerian National Petroleum Corporation (NNPC), Benin-Asaba Road, Benin... Continue Reading
    ABSTRACT Decision-making can be viewed as the very fabric of which organized activities are made. This partly depends on the amount of information supplied to management. This study is aimed at finding out information supplied by the accountants through financial accounting. The study revealed the information derived from financial statement, the... Continue Reading
    CHAPTER ONE DEFINTION OF TERMS Financial Accounting : Financial accounting is concerned with the recording of transactions for a business enterprise or other economic units and the periodic preparation of various reports from such records. Financial accounting then can be said to be a systematic gathering, identifying, summarizing and reporting of... Continue Reading
    (A CASE STUDY OF EMENITE COMPANY) PROPOSAL Accounting is the process by which the profitability and solvency of company can be measured. Accounting provides some basis information needed in making business decision. it is clear that a business cannot hope of accomplish these objectives... Continue Reading
    (A CASE STUDY OF EMENITE COMPANY ENUGU) PROPOSAL Topic: Accounting Information as a Management Tool in Decision Making Introduction Accounting is the process by which the profitability and solvency of company can be measured. Accounting provides some basis information needed in making... Continue Reading
    ABSTRACT Decision-making can be viewed as the very fabric of which organized activities are made. This partly depends on the amount of information supplied to management. This study is aimed at finding out information supplied by the accountants through financial accounting. The study revealed the information derived from financial statement, the... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us