ABSTRACT
The study was at finding out how important accounting information is to companies in making decisions. In the course of the study, both primary and secondary sources of data collection method were used. The main statistical tool that was used in analyzing the data collected from the survey was frequency distribution and chi-square to test the hypotheses. The result of the analysis revealed that there is significant relationship between accounting and management decision making, there is significance difference between accounting records and accounting information. The findings discovered that the role of accounting information is vital in the determination of factors for the formulation of policies in relation to plant expansion, abandonment, replacement of obsolete facilities and the financing of charges that are the capital investment decision of the company. Based on these findings, the study concluded that managers need accounting information in meaningful decision-making in the business world also, prompt and accurate accounting information helps management in performance evaluation and strategic plan.Finally, the study recommends that management should make proper use of accounting information provided to them at the right time.
INTRODUCTION
.............. In any economic entity that desire growth, there must be a system of knowing what had happened in the past and what will likely happen in the future. This is basically what accounting is all about, which arose from the stewardship function. Basically, in accounting, the accountant is required to record the day-to-day transactions of the enterprise and summaries such recording in form of receipt and payment, income and expenditure account, profit and loss account and balance sheet. These will be used to provide the information which the management will act upon.
Generally speaking, all accounting that is cost accounting, financial accounting, management accounting and auditing are all aimed at helping management to take decision in running organization in order to achieve the organizational objectives, set by management (Monwuba 1995)
According to Walsch et al (1986, p2) Intermediate Accounting; define accounting broadly as: “Information processing system designed to capture and measure the economic essence of events that affect an entity for decision making process”
Management accounting system accumulates, classify, enumerate and report information that will assist management in their decision making, planning and control activities. This research focuses on internal reporting, that is, management accounting. Management needs information to make top decision, middle or low level managers making strategic, tactical or operational decisions respectively (W. Münch2004 ). This can be understood better by asking a question like: what sales volume is required to meat the additional fixed charges from a proposed plant expansion? What would be the effect on profit? Will it reduce our selling price? Sell more units or should we pay our sales personnel on the basis of salary only or on the basis of commission only or by the combination of the two?
Others include decision on closing down a segment, special selling price, make or buy decision, investment in plant and machinery, research and development advertisement and warehouse facilities etc. the appreciation of the importance of accounting information as a vital resources for effective business management cannot be overemphasized (Granlund, 1998a). ...............
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CHAPTER ONE: INTRODUCTION
1.1 Introduction
1.2 Statement of the problem
1.3 Purpose of the study -
1.4 Research question
1.5 Research hypotheses
1.6 Significance of the study
1.7 Scope and limitation of the study
1.8 Organization of the study References
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction
2.1 The Meaning of Accounting
2.2 Managerial Accounting
2.3 Information
2.4 Accounting Information
2.5 Accounting Record
2.6 Management
2.7 Manager
2.8 Decision Making
2.9 The Importance of Accounting Information
2.10 Accounting Information for Measuring Performance and for Strategic Planning
2.11 Strategic Planning
2.12 Accounting Information as a Determining Data for Capital Investment Decision
2.13 Accounting Information for Measuring Management Performance
2.14 Making Decision on Pricing
2.15 Decision Making in the Process of Choosing Between Alternatives
2.16 Information and Management Accounting
2.17 Desirable Properties of Management Accounting Information
2.18 Uncertainty and Accounting Information
References
CHAPTER THREE: RESEARCH METHOD
3.0 Introduction
3.1 Research Design
3.2 Population Description
3.3 Sample and Sampling Technique
3.4 Sources of Data
3.5 Instrument of Data Collection
3.6 Administration of Questionnaires
3.7 Method of Data Analysis
3.8 Validity and Reliability of the research Instrument
References
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.0 Introduction
4.1 Analysis and Interpretation of Data
4.2 Test of Hypotheses
4.2.1 Test of Hypothesis 1
4.2.2 Test of Hypotheses
4.3 Discussion of Findings
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Summary of Findings
5.2 Conclusions
5.3 Recommendations
Bibliography
Reference code: c010
Reference code: c010
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91 Pages
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