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DESIGN
AND IMPLEMENTATION OF A COMPUTERIZED COST ACCOUNTING SYSTEM
(A
CASE STUDY OF KRISTAL SILENT)
ABSTRACT
This research project tries to review the cost accounting system of KRISTAL
SILENT, which of course is a manual processing system by a systematic analysis
and recording of vertical transactions in respect of labour, material and
expenses, the collation and interpretation of these need to disclose costs of
particular products or services and the application of this vertical
information for the purpose of efficient running of the business.
The accompanying software, computerized cost accounting system is a package
developed with the aim of computerizing all cost activities for the said
company. The program is in modules, which describes project activities,
and information that is related to it. It provides the user the ability to federate
analysis of project execution cost on monthly, quarterly and on yearly basis
with its respective business forecast.
ORGANIZATION OF WORK
This work is divided into six chapters.
Chapter one has to do
with introducing the project topic, statement of the problem, purpose of study,
aims and objectives, scope, limitations and definition of terms.
Chapter two is the review of related literature
Chapter three has to do with finding out how the current system works and what
the new system must do.
Chapter
four: This phase of the system
project spelt out how to build the new system, including the input/output
design, file design, the procedure as well as the system requirements.
Chapter five is documentation
Chapter six is about recommendation and conclusion.
TABLE OF CONTENTS
Title Page
Abstract
Organization of Work
Table of contents
CHAPTER ONE
1.0
Introduction
1.1 Background
of study
1.2 Statement
of problem
1.3 Purpose of
study
1.4 Aims and
Objectives
1.5 Scope
1.6 Limitations
and Constraints
1.7 Definition
of terms
CHAPTER TWO
2.0 Literature
Review
CHAPTER THREE
3.0
Introduction
3.1 Description
and Analysis of the existing system
3.2 Fact
finding methods used
3.3 Objectives
of the existing system
3.4 Input,
process and output analysis
3.5 Problems of
the existing system
3.6
Justification for the new system
CHAPTER FOUR
4.0 Design of
the new system
4.1 Output
specifications and design
4.2 Input
specifications and design
4.3 File design
4.4 Procedure
chart
4.5 System
flowchart
4.6
System requirement
CHAPTER FIVE
5.0
Implementation of the new system
5.1 Program
design
5.3 Program
flow charts
5.4 Pseudocodes
5.5 Source
program
5.6 Test run
CHAPTER SIX
6.0
Documentation
6.1
Communication with the language
6.2 Loading the
language
6.3 Procedure
6.4 Loading the
program
CHAPTER SEVEN
Recommendation and Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF STUDY
The
nature and development of an economy establishes the basic requirements for
accounting. The emphasis to cost accounting for instance has been directed
towards meeting the practical needs of manufacturing industries. The rapid
growth and expansion of service industries now demand that accountants direct
their attention to solving a new set of problems that are in many industries
not related to manufacturing. The accountant is faced with the problem of
adapting and combining the present accounting techniques into modern and
flexible systems for the service industries.
The task of accounting for manufacturing costs and expenses obviously requires
a further expansion of the preceding system. The form that this expansion takes
depends on many factors such as the kinds of control, which is desired to
exercise over manufacturing activities, the nature of the manufacturing
activities themselves, and the relationship, which is to be mentioned between
financial and cost records.
From the above, it is clear that even though the presentation of cost accounts,
for various types of business may vary, i.e is normal to follow the following
procedures:
(a)
All expenditure is analysed and classified into direct and costs. The direct
costs can be attributed to a particular job process on operation and they are
transferred to it.
(b)
The indirect costs are placed to the relevant account. If they can be placed to
one particular account such as factory overhead becomes allocation of overhead.
But if they make to be divided between different overhead accounts is called
apportionment of overhead.
1.2
STATEMENT OF PROBLEM
In drawing up a
scheme of costing, one of the first steps much be decided upon the cost
centers, which are to be used. Following this, these overheads, which can be
allotted, can be transferred to the relevant sections. The others must be
apportioned between the relevant departments. The methods of apportionment will
vary but care is needed to select the finest and concernment method in the
circumstances.
In this project work,
we are narrowing down to the cost accounting system as has been practiced by
KRISTAL SILENT, which of course is done manually.
The land of cost
accounting in the organization is the historical cost accounting system. Hence
the system to be developed will take care of some of those anomalies that pose
constraints to the system.
Therefore the
research goes on to ask such question as what are the likely benefits to be
gained from this project study?
1.3
PURPOSE OF STUDY
The purpose of this study is trying to figure out the difficulties and
irregularities encountered by KRISTAL SILENT in its existing system. The
research amongst other things introduces standard that show the cost of
production of every unit, job, and process operation or department by close
analysis of expenditure. To indicate to management any inefficiencies and waste
which are thereby revealed. To serve as a guide to price fixing. To provide
comparative statement of costs in which the cost of the current period are
compared with the costs of a previous period; or more helpfully, with the budgeted
costs; and financially to take action in respect of significant variations of
the costs from the budgeted figures and thus to control cost.
1.4
AIMS AND OBJECTIVES
The aims and objectives of this project is to redesign and computerized the
manual system of cost accounting as being practiced in KRISTAL SILENT. The
computerized system amongst other things.
§
Ease the burden of calculating and recalculating of figures to get at the exact
output.
§
Automatic report generation and report of the financial status of the firm.
§
Automatic posting of accounts from the individual ledgers to the general ledger
§
Speed of operation will be increased tremendously and volume of output enhanced
too.
1.5
SCOPE
This
project has been narrowed down to the financial humations of particular project
undertaken by the said company. It tells us about the nature of project. Its
contract value, the equipment and materials procedures in the execution of the
project the labour cost and wages to the project. And finally, it furnishes the
management with the information of how much was expended while carrying out the
project and how much is remaining, that will serve as
profit.
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