IMPACT OF ACCOUNTING INFORMATION SYSTEM IN A MANUFACTURING COMPANY
Accounting generally involves the process of identifying, measuring and communicating economic information to permit informed judgment and decisions by users of the information, in order words, accounting is concerned with providing information, which will help decision makers to make good decision. To enhance credibility and reliability of the information for decision making process established concepts, principle, standards and legal requirement are study followed in order to translate physical fact into money values and ensures that all types of report are integrated and prepared on consistent basis.
The information provided by financial statements, cash flow analysis, variance analysis, managerial costing goes along way in planning, organizing decision making and control.
1.1 BACKGROUND OF THE STUDY
Nigeria like every other nation in the world at independence has strived and has continued to find away of feeding ourselves. Of course, were almost self-sufficient and hope for better tomorrow, but his hope seem to be drawing into deep ocean. The simple belief and consensus is that it ahs been badly for Nigeria.
Due to the adverse economic conditions prevailing in the country, many business outfits have closed down and even financial institutions are being declared distressed at alarming rate. Business that are yet to be submerged or that want to stay a float employ all kinds of strategies. Some increases prices, adopt promotional tools, engage in aggressive marketing etc whereas others go for an odd combination of activities and even subterranean ones to survive.
Any business or individual that wants to survive must make the right decision. This is determined by the accounting information system of such business or firm. The era of mile of thumb is gone; employing it is a sure way to failure.
The Anambra Motor Manufacturing Company have from on set strive to continue finding away of feeding itself, this could be seen in the historical background of ANAMMCO.
Anambra Motor Manufacturing Company was incorporated on January 17 1977. The foundation stone was laid on the 12th May, 1978. The official commissioning of the plant was in July 8th 1980. Their production range include; MBO 131; MBO 809, MBO 371; LK 3224; MB Refrigeration Truck; MB MCV – 200 (28 Seat bus); MB 1834; MB 2638; MB 1820; 6 x 2 Crane Truck; MB L 608D; L/LK 1414, 1991; MB L 911; 1960; MB 312, 1952; Road Haulage; MBO 1721; MBL 800; MBO 800; MB 2031 S; MBO 1418; MBO 400; MBL 1418 (Water tanker); Actros 1953; LS 2638 6x 4 (Wheel drive); MBO Transit liner; MBO 400 RSD; MB 2031S 36 Actros; MBL 711; Hyundai country, MB Fire Tender; MBO 400 RSD; MBO 1520; MBO 1271.
Also, including in their production range are five fighter vehicle (FFV), Ambulance, mobile clinics vehicle, refuse disposal vehicles and vehicle refurbishment.