Cost accounting: A tool for the management decision making process in Nigeria

The study, cost accounting, as a tool for management decision making process is targeted at exploring the various ways which cost accounting information could help the management of enterprises especially manufacturing and processing companies in the formation of polices and making of sound and rel...

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Autores principales:	Olanitori Idowu Paul, Fadakinte Bukola Veronica, Olemija Temidayo Lawrence
Formato:	article
Lenguaje:	EN
Publicado:	IDEA PUBLISHERS 2021
Materias:	cost accounting management decision decision making selling price valuation of inventory inventory control Social Sciences H Political science J
Acceso en línea:	https://doaj.org/article/89604e377dc7472e97ab68fd345b8d8c
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spelling	oai:doaj.org-article:89604e377dc7472e97ab68fd345b8d8c2021-11-04T15:45:16ZCost accounting: A tool for the management decision making process in Nigeria10.47264/idea.lassij/5.2.102664-8148https://doaj.org/article/89604e377dc7472e97ab68fd345b8d8c2021-10-01T00:00:00Zhttps://ideapublishers.org/index.php/lassij/article/view/411https://doaj.org/toc/2664-8148 The study, cost accounting, as a tool for management decision making process is targeted at exploring the various ways which cost accounting information could help the management of enterprises especially manufacturing and processing companies in the formation of polices and making of sound and reliable decisions. In order that this purpose could be proven, the researcher formulated various relevant research questions and also two major hypotheses were also formulated. Interview was conducted with the aid of instrument known as questionnaires which were administered to the staff of Tisco’s Pharmaceutical. Chi-square (X2) method was used for testing the hypotheses under the research. Findings exposed that cost accounting is an aid to management decision making. Also, to be clear of every sentiment, relevant literatures complied in authorities in the relevant fields were reviewed. The opinion of authorities was not different, showing that costing information is necessary for fixing selling price, valuation of inventory, inventory control, labour remuneration, waste reduction, capacity utilization, cost control ascertainment of profitability. Thus, the study proves that cost accounting is a tool for management decision making process in any organisation either in public and private sector. Olanitori Idowu PaulFadakinte Bukola VeronicaOlemija Temidayo LawrenceIDEA PUBLISHERSarticlecost accountingmanagement decisiondecision makingselling pricevaluation of inventoryinventory controlSocial SciencesHPolitical scienceJENLiberal Arts and Social Sciences International Journal, Vol 5, Iss 2 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	cost accounting management decision decision making selling price valuation of inventory inventory control Social Sciences H Political science J
spellingShingle	cost accounting management decision decision making selling price valuation of inventory inventory control Social Sciences H Political science J Olanitori Idowu Paul Fadakinte Bukola Veronica Olemija Temidayo Lawrence Cost accounting: A tool for the management decision making process in Nigeria
description	The study, cost accounting, as a tool for management decision making process is targeted at exploring the various ways which cost accounting information could help the management of enterprises especially manufacturing and processing companies in the formation of polices and making of sound and reliable decisions. In order that this purpose could be proven, the researcher formulated various relevant research questions and also two major hypotheses were also formulated. Interview was conducted with the aid of instrument known as questionnaires which were administered to the staff of Tisco’s Pharmaceutical. Chi-square (X2) method was used for testing the hypotheses under the research. Findings exposed that cost accounting is an aid to management decision making. Also, to be clear of every sentiment, relevant literatures complied in authorities in the relevant fields were reviewed. The opinion of authorities was not different, showing that costing information is necessary for fixing selling price, valuation of inventory, inventory control, labour remuneration, waste reduction, capacity utilization, cost control ascertainment of profitability. Thus, the study proves that cost accounting is a tool for management decision making process in any organisation either in public and private sector.
format	article
author	Olanitori Idowu Paul Fadakinte Bukola Veronica Olemija Temidayo Lawrence
author_facet	Olanitori Idowu Paul Fadakinte Bukola Veronica Olemija Temidayo Lawrence
author_sort	Olanitori Idowu Paul
title	Cost accounting: A tool for the management decision making process in Nigeria
title_short	Cost accounting: A tool for the management decision making process in Nigeria
title_full	Cost accounting: A tool for the management decision making process in Nigeria
title_fullStr	Cost accounting: A tool for the management decision making process in Nigeria
title_full_unstemmed	Cost accounting: A tool for the management decision making process in Nigeria
title_sort	cost accounting: a tool for the management decision making process in nigeria
publisher	IDEA PUBLISHERS
publishDate	2021
url	https://doaj.org/article/89604e377dc7472e97ab68fd345b8d8c
work_keys_str_mv	AT olanitoriidowupaul costaccountingatoolforthemanagementdecisionmakingprocessinnigeria AT fadakintebukolaveronica costaccountingatoolforthemanagementdecisionmakingprocessinnigeria AT olemijatemidayolawrence costaccountingatoolforthemanagementdecisionmakingprocessinnigeria
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Cost accounting: A tool for the management decision making process in Nigeria

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