IMPACT OF ACCOUNTANCY INFORMATION ON DECISION MAKING PROCESS

IMPACT OF ACCOUNTANCY INFORMATION ON DECISION MAKING PROCESS

CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Performance Appraisal is a major subject of controversy in management circles. While business leaders see the need for appraisal systems, they are
frequently disappointed in them. One of the responsibilities of management is to ensure that an organization functions effectively and efficiently.
In order to achieve these goals, managers must be able to determine and assess performance levels of both an organization and its individual employees (Kurt 2004).
Modern businesses depend upon measurement and analysis of performance. Measurements must derive from the company’s strategy and provide critical
data and information about key processes, outputs and results. Data and analysis support a variety of company purposes, such as planning, reviewing
company performance, improving operations, and comparing company performance with competitors’ or with ‘best practices’ benchmarks (Averson, 1998).
1.2 Statement of the problem
Performance appraisal provides a good opportunity to formally recognize employees’ achievements and contributions to the organization, and to ensure
that a clear link is established and maintained between performance and reward. Employees of First Bank Plc in recent times have been accused of high level of inefficiencies
in the discharge of their duties by the general public. However, it was recently that research had revealed the deplorable working conditions -under which financial professionals’ work. Poor infrastructure, inadequate logistics and equipment, poor remuneration and inadequate reward system have always led to the low level of public confidence and respect in the financial institutions. The situation had further resulted in ripple erects of poor performance, low morale and lack of discipline in the service via-a-vis the theories on performance
appraisal. Given the challenges earlier enumerated to be facing employees in First Bank Plc, particularly employees of Uyo Branch in Nigeria.

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IMPACT OF ACCOUNTANCY INFORMATION ON DECISION MAKING PROCESS