RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY
ABSTRACT
The relevance of effective accounting system on the performance of a manufacturing company was intended to investigate the effect of mediocre and lack of comprehensive accounting system, financial accounting system and management accounting system. The research work also received work done by others in respect to his subject matter by using text books, questionnaires, professional journals and conference papers by prudent scholars. The statistical research study also revealed that the application of the relevant accounting system in a manufacturing company couldn’t be over emphasized or compromised. The cost accounting system of manufacturing firms clearly showed the cost of raw material consumed, the prime cost of production and their profit. It was the recommendation of the researcher that the three accounting system can be used in any manufacturing company, but may not be used in a service oriented industries, except where they are considered essential and indispensable, otherwise, the system are very expensive to maintain.
TABLE OF CONTENT
CHAPTER ONE
1.0 Introduction 1
Background of the study 1
Statement of the study 2
Objective of the study 3
Significance of the study 3
Scope and limitation of the study 4
CHAPTER TWO
2.0 Review of related literature 6
2.1 Concept of accounting 6
2.2 Evolution of the accounting system 8
2.3 Accounting as a system 9
2.4 Sound accounting system ` 12
2.5 Purpose of accounting system 17
2.6 Accounting information system 23
2.7 Relevance of an Adequate/sound accounting system 25
CHAPTER THREE
3.0 Finding, Conclusion, Summary, Recommendation 26
3.1 Finding 26
3.2 Conclusion 27
3.3 Summary 28
3.4 Recommendation 29
Bibliography 32
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In any organization, manufacturing or non-manufacturing that knows its functions requires an effective accounting system for it continues in existence. In the past, use have heard of how firms up due to one reason or the other. When properly investigated as to what constitute their folding up, one may not be surprised that it was due to negligence in operating on effective accounting system. Even the greatest book on earth “The Holy Bible” makes it own judgment on this, in Mathew 25:14-30. Which in this illustration, we heard of a master who, while away, entrusted various sum of money to his three servants, on return, he called them to “account” for the property entrusted to them, out of the three servants, one could not give a god account of the property entrusted to him, hence he was unsuccessful (and fold up).
178129 872462I liked than you might be now. 25936