ACCOUNTING INFORMATION AS A MANAGEMENT TOOL IN DECISION MAKING (A CASE STUDY OF EMENITE COMPANY ENUGU)
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ACCOUNTING
INFORMATION AS A MANAGEMENT TOOL IN DECISION MAKING
(A CASE STUDY OF
EMENITE COMPANY ENUGU)
PROPOSAL
Introduction
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 survival. Operating profitability and staying solvent without the
application of accounting concept. Based on the research study, it is purely
based on the use of accounting information in making decision in a business. In
many cases our analysis will show that accounting is the principles tool in
making decision in a company, Hence management should think of the accounting
information rather than employing.
Statement of Problems
Despite the enviable prospect of accounting information in decision making, the
sector is still faced with some major problems like inflationary economy. In
this context, it will be difficult to survive therefore I will like to analyze
its based on the question “Does various method of approach to decision making,
profitable in nature. It is on this note that the study is gears towards
findings the problem facing the lucrative principle of accounting.
Methodology
In order to get this research project done, primary and secondary will be
collected. The primary source will be based on the direct questionnaires and
interviews. Emphasis will be laid more on administration of questionnaire and
interview as a major source of primary data.
The general manager of Anamco Company ltd will be interviewed on what
accounting information has helped in making decision again how the company has
been benefiting.
Meanwhile the secondary source will be based on those information which
contains account of events.
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
1.2
Statement of problem
1.3
Objective of the study
1.4
Research question
1.5
Research hypothesis
1.6
Scope of study
1.7
Significant of the study
1.8
Limitation of the
study
1.9
Definition of terms
References
CHAPTER TWO
Review of related literature
2.1
The theoretical review of literature
2.2
Empirical review literature
References
CHAPTER THREE
RESEARCH DESIGN AND
METHODOLOGY
3.1
Research design
3.2
Area of the study
3.3
Population of the study
3.4
Sources of data
3.5
Sample method
3.6
Research instrument
3.7
Validity and reliability of research instrument
3.8
Method of investigation
CHAPTER FOUR
Presentation and analysis of data
CHAPTER FIVE
SUMMARY CONCLUSION AND RECOMMENDATION
5.1
Summary of findings
5.2
Conclusion
5.3
Recommendation
Bibliography
CHAPTER ONE
1.0
BACKGROUND OF THE STUDY
Accounting provides information which is vital for the economic decisions that
have to be made by individuals and the companies. Accounting counting is a way
of giving management the financial information and control it needs to run a
portable business or an efficiency organization.
Accounting has been defined in so many ways in different people. According to
Onovo (2004) accounting is an act or process by which an economic environment
which focuses on dealing with information about the activities under focuses.
According to Eneje (2006), accounting is a process of measuring, recording,
classifying, summarizing and communicating of financial information that is
used in making economic decision to interested persons or parties. It is also
process by which profitability and solvency of company can be measured.
Accounting provided information needed bin a basis for making business decision
that enables management to guide the company in a profitability solvent.
Stated simply, managing a business is a matter deciding of what should be done
seeing to it that the means are available and setting people employed in the
business to do it in this process management is faced with alternative and
every decision to do something involves a choice. In most cases, the
profitability that a good decision will be made depends on the amount and
validity of information that the manager has about the alternative and
consequences.
Management on the other hand is a process of converting information into action
and accounting is the source of mist if the information is used. In this,
management and accounting is overlap, extensively, management is highly
dependent on accounting for operating facts and on the accountant for the
steaching hand he can offer by virtues of his temperament and training. It is
not possible for the manager herself to an accountant, he must beat home with
accountants. He must know how to make effective use of the information material
that the accountant produces in order to accomplish his managerial objectives.
Accounting is a way to give management the financial information and control.
It needs to run a profitable business or efficient organization. The management
of every business must keep foremost in its thinking, two primary objectives
and they are:
1.
To earn profit and to stay solvent, that is to have in hand sufficient cash to
pay debt as they fall due. Profit and solvent are not the only objective of
business management. There are many others such as protecting the environment
providing jobs for people which is unemployment and providing more goods and
services of a lower rate. At this point, business cannot grow without the
accomplished of these objectives.
1.1
STATEMENT OF PROBLEM
For
an organization to be regarded as successful, it must have a good decision
making policy. The decision making policy enables management to anticipate
future problem and difficulties through the use of accounting information as
well as employing corrective measures as early stages.
In his our inflationary economy, most companies are finding it difficult to
survive, mostly involved are the financial companies others have gone into
liquidation while there are some that are growing yet amidst of the turbulent
economic condition.
Companies have various method of approaching to their decision making hace this
research is envisaged to help in determining and highlighting the problems that
militate or aid the management for effective implementation of the companies
objectives also to determine the extent financial goals and other
organizational goal are achieved.
1.2
OBJECTIVES OF THE STUDY
The
study is done to evaluate the efficiency and effectiveness of accounting
information as a management tool in decision making.
The main objectives of this study are
stated senior staff follows:
a.
To identify hour accounting may be used to control expenditure on one hands and
assist revenue generation on the other.
b.
To evaluate the objective and uses of government accounting information
1.3
RESEARCH QUESTIONS
i. To what extent can
accounting control expenditure and can
it assist revenue?
ii.
What are the uses of government in accounting information?
1.4
RESEARCH HYPOTHESIS
The following
hypotheses were formulated by researcher for the purpose of the study.
1.
Ho: proper accounting and control has not been carrying out effectively.
Hi: Proper accounting
and control has been carried out effectively.
2.
Ho: Failure to achieve goals in accounting information by accounting committee
Hi:
Sources in goal achievement by accounting committee despite the failure witness
or undergones
SCOPE OF THE STUDY
It will be so broad
to this study with either one of accounting information as a management tools
in decision making level and also to make the study work understanding, but it
will only emphasized on the case study of EMENITE Company.
1.6
SIGNIFICANCE OF THE STUDY
The significance of the study can be
grouped into two major aspects, practical and academics.
Practical
Significance: Practically, this research will broad
the understanding of the following people:
Management staff: It will enable the
management and staff of the institution to make effective use of finding and
recommendation in discharging their functions.
ACADEMICALLY: students;
the research will enable students who intends to study this course in future to
make use of this work both in there academics and research program.
1.8
DEFINITION OF TERMS
Accounting: This simply means a process
by which the profitability and solvency of the company can be measured.
Decision making: this means a choice
between alternative courses of action. It also define as a process of making a
judgment regarding what we ought to do in a certain situation after having
deliberated on some alternative courses of action.
Information: this is a process of
information that can be used for decision making.
Management: This can be seen as a
guidance or direction of people towards organization and goals or objectives.
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