CHAPTER ONE INTRODUCTION
The efficiency and effectiveness of the operations as well as the overall success of an enterprise, depend to a large extent on the quality of information available to the management. Information helps management in making decision about the allocation of scarce resource between competing ends. The business environment is a hanging one and for business to survive in such rapidly changing environment management must keep abreast with information that will enable it to plan for the attainment of pre-determined objectives. A plan is generally regarded as a preparation for action. Planning involves causing things to happen in a desired or particular way which otherwise would not have happened the planning process includes: the identification of medium and long term goals based on a detailed analysis of feasibility within the context of the political and social values formulation of the policies and programmes or project for achieving the planned goals, others are provision of suitable organization/structure and identification of the desired type of personnel to implement the selected programme or project.
Also to monitor the end result so as to measure actual performance in relation to plan goals, of achievement and thereby improve the entire process of development looking at the planning process, it appears that for each stage, information is needed for the attainment of the organization objectives. The accounting function helps in the accumulation of accounting data which helps management in the planning process. It also provides management with financial accounting information which serves as important tool for projecting into the future. In order to make the desired projection for planning purpose, management needs three basic type of accounting information which are integrated in different stages of the planning process. These are store keeping information, attention directing information and problem solving information. The store-keeping information involves the accumulation and allocation of data ex-post for the purpose of product costing, income determination performance appraised and position evaluation. Attention direction information involves highlighting and investigation of variances for corrective actions.
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