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Impact Of Accounting Information On Decision Making Process

(A Case Study Of Anammco Enugu)

5 Chapters
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93 Pages
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11,981 Words
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ACCOUNTING

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PROPOSAL

This research work on the impact of accounting information on decision making process a study of Anammco LTD Emene is geared to X- ray the impact that accounting information exert to improve the decisoon making process of a company with reference to Anammco ltd Enugu.
Decision making is simply making a choice of several alternatives or it’s the process of studying and evaluating two or more available alternatives leading to a final choice, the researcher in the cause of this study want to study and evaluate to see how this can be used as a good instrument and decision making process.
In the causes of this study certain vital questions will be answered. These include
a. How could the accounting information of figure help in this aspect of management in an organization?
b. How did information generated by the accountant or accounts department effectively applied in the production and decision of the organization?
c. Do this information fulfill the basic roles of cost minimization, proper allocation of funds

ABSTRACT

This research work is on the impact of accounting information on decision making process, with a particular reference to the Anammco LTD Enugu. The research was geared towards understanding the operations in Anammco Ltd with an emphasis on decision making process. The problems, prospects and implications of the programme were also examined.
The objective of the study is therefore to expose to various departments the proper way to embark on effective accounting information. Forty questionnaires were distributed of which thirty were completed and return using stratified random sampling. Also related literatures dealings with the impact of accounting information were examined. Some personnel of Anammco Ltd were interviewed, and secondary data were obtained from books
The data collected were later analysis and interpreted. From the study, it was discovered that accounting information is an important aspect of management policy, for higher productivity, efficiency and increased performance, though it involves a huge financial obligation.
Various organizations should therefore try and embark on accounting information on decision making for successful running of their organization.

TABLE OF CONTENT

Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content

CHAPTER ONE
1.0 Introduction
1.1 Background of the study\
1.2 Statement of the problems
1.3 Purpose of study
1.4 Scope of study
1.5 Research questions
1.6 Statement of hypothesis
1.7 Significance of study
1.8 Definition of terms

CHAPTER TWO
2.0 Literature Review
2.1 Brief history on the development of the company Anammco
2.2 Accounting nature
2.3 Accounting objectives
2.4 Value of information related to decision making process
2.5 The impact of accounting on the Annamco Ltd
2.6 Characteristic of accounting
2.7 Users of accounting information
2.8 Tools of accounting information
2.9.0Kinds of accounting information
2.9.1 Financial accounting information and tools
2.9.2 Analysis of financial statement
2.9.3 Significance of ratio analysis
2.9.4 Funds flows analysis
2.9.5 Cost and management accounting information tool techniques and models for decision making.
2.9.6 Cost classification
2.9.7. Cost volume project analysis
2.9.8. Linear programming and other types of costing analysis
2.9.9. Summary of the chapter.

CHAPTER THREE
3.0. Research Methodology
3.1 Research questions
3.2 Research Design
3.3 Area and population of study
3.4 Sample and sampling procedure
3.5 Instrument of data collection
3.6 Validation of the instrument
3.7 Methods of the instrument

CHAPTER FOUR
4.0 Presentation of data
4.1 Analyzing data
4.2 Test of hypothesis
4.3 Interpretation of data in the research questions.

CHAPTER FIVE
5.0 Summary and conclusion
5.1 Discus of findings
5.2 Conclusion
5.3 Recommendations.
5.4 Suggestions for further study
5.5 Limitation of the study
5.6 Implication of the study
Reference
Bibliography

CHAPTER ONE

INTRODUCTION
This research work on the impact of accounting information on decision making process, a study of Anammco LTD Emene is geared to X – ray the impact that accounting information exert to improve the decision making process of a company with reference to ANAMMCO LTD ENUGU.
Decision making is simply making a choice out of several alternative or it is the process of studying and evaluating two or more available alternatives leading to a final choice.

1.1 BACKGROUND OF STUDY
With the view of being independence, Nigerians had the view of a better tomorrow. We were able to feed ourselves and provide ourselves with social, economic and political endeavor. Subsequently our hopes seemed unattained which made the country becomes as strong as the Iroko tree. The idea had, was that it would be worst for Nigerians to our economic adverse situation raising its ugly head. This economic crisis has made financial institutions industries (large or small scale) go into distress at alarming rate and those who service this financial problem has form the onset prepared his/her firm against this ugly situation by mapping out all kinds of straggles example increase in price of this goods, adopts favorable production tool, engage in marketing etc.
Any business, firm, establishment that wants to survive this present day bad economy in Nigeria must make a right decision, map out a good and competitive strategies to carry out his/her business successful. The price of any convincible item from garri and bread to electronic and educational items not to talk of the life wire of every man standing that is petrol which has presently made life unable for the adjust.
The economy is really in direstacts, the era of mile thumb is employing it, is a sure way final abysmaky. Organizing human and natural resources intricately are the problems of various organization, effective planning and decision making process. Other factors such as stag flatiron taxation, economic and political empowerment this research accounting, cost accounting as well as management accounting. There are other branches of accounting that would be favorable “Financial Accounting” is that part of accounting which covers the classification and recording of actual transactions of an entitling in monetary terms in accordance with established concepts, principles of accounting standards and legal requirements. It involved metamorphosed into a very complex web of inter-grated financial information system which modern organization cannot do without.
It presents a broader, more overall view of the organization with primary emphasis upon classification according to type of transaction rather than cost and management accounting emphasis on functions, activities, products and process and internal planning control. Cots accounting and management accounting are very much intrinsically inter that is to say that the different between the two superficial so that definition of management accounting is the provision of information require by the management for use, identifying, presenting and interpreting of information used for.
i. Formulating strangely
ii. Planning and controlling activities
iii. Decision taking
iv. Optimizing the use of resources\
v. Disclosure to shareholders and other external to entity
vi. Disclosure to employees
vii. Safe guiding assets
There are various ways one can involves or participate in management to that there is effectiveness.
i. Formulation of plans to meet objectives (strategic planning)
ii. Formulation of short term operation plans (budgeting profit planning)
iii. Acquisition and use of finance
iv. Reviewing and reporting on systems and operations
v. Corrective measures to bring plans and results.
vi. Communication of financial and operating information.
Cost accounting as the part of management accounting which establishes budget and standard cost of operations, department or products and the analysis of variance profitability or social use of funds.

1.2 STATEMENT OF THE PROBLEM
Nigeria has a very difficult economic situation some aspects of it are experiencing from disability of inflation rate where as other aspects are worse hit by deviating depression for our years now, the emphasis is on the restructuring of our economy. The international monetary fund (IMF) emerged with a difficult inter restructure measures (without regards to our socio-economic background) which were applied the area of our economist who can dictate. Economy is still running heedlessly into woods culminating in failure of business and pauperization of a great majority of Nigerians. Under the present economic dispensation very difficult to float with those who are unable to submerged.
In recent time, the use of judos relevant information and techniques in decision making process of organization, individuals, corporate bodies are without questions. Application of accounting information make a clear designation about enterprises, corporate bodies, misread bank etc. in all cases accountant used banks used a certain strategies for the collection, analyzing, interpreting. Presented and communicating the information for the use of interested parties it remains the adaptation, application and implement of those information for the benefit of organization of there were being done as at when due, then multifarious failures in the business sector and domestic even government would not have been the problem. Then users are actually ware of these various accounting information and apply them in their production or investment on decision making process at is based on accounting information actually raised efficiency level via cost minimization and wealth maximization.
In summary, the problem encountered in course of this work is time factor.

1.3 PURPOSE OF THE STUDY
Gross efficiency and non-application of sound professional principles have been known to be a serious factor contributing to the failure of business.
The economic investors are no credit sellers, they would invest if and only if the government, the individual around would convince them that investment in Nigeria economy is wise and their return in participating is high for less risk in financial cost. The only way to adequate its fears is to produce via cost minimization and maximization of the efficient way of production.
Apart from ability of capital, technicality efficient management information is paramount. If the organization is to achieve its aims and objectives.
THE OBJECTIVES OF THE STUDY ARE THEREFORE
1. To determine whether information generated by the accounts department are effectively applied in the productive, production and decision of the organization.
2. To know the extent to which these information fulfill the basic roles of cost minimization, proper allocation of scare resources and improvement in production efficiency.
3. To determine whether there are problems in generating and utilizing the information necessary for production and to suggest possible solutions to the problem.

1.4 SCOPE OF STUDY
This research work cannot possibly treat all aspect and kinds of accounting information because the field is simply too wide so only those relevant to the research study were dealt with as per need ratio analysis cost volume, profit analysis, absorption and margin, costing the contribution margin, standard costing and valance analysis learner programming.
The availability of correct and up to date, data is not easy, even when available one still encounters wholly unnecessary bottleneck due to our socio cultural background, disclosure of information and bureaucracy so this constituted an impediment to this research work.
Financial and time constraints were serious encountered by the researcher computational procedure of the various accounting information or tools are outside the scope of the work. However those deemed necessary may be treated.

1.5 RESEARCH QUESTIONS
They are as follows
1. How did information generated by the accountant or accounts department effectively applied in the production and decisions of the organization
2. Do these information fulfill the basic roles of cost minimization, proper allocation of scare resources and improvement in the production of efficiency.
3. Is there any problem in generating and utilizing the information necessary for production and solutions to the problems

1.6 STATEMENT OF HYPOTHESIS
H1: NULL HYPOTHESIS
H0: ALTERNATIVE HYPOTHESIS
H0: The accounting information’s generated in manufacturing firms are not utilizing effectively in production decision making
H1: The accounting information generated in manufacturing firms do not fulfill the basic roles of proper resources allocation cost minimization production efficiency production decision making.

1.7 SIGNIFICANCE OF THE STUDY
The call for high interest rates would lead to massive depreciation of the local currency (Naira) low/non utilization of installed capacity of manufacturing plants lack of invisible funds occasioned by low capital formation, political inability devastating inflation, incredible deflation high cost of living, unemployment rate and appropriate taxation policy are factors that impinge adversely the operations of manufacturing organization on entire economy.
This research study will help to maximize the beneficial impact of accounting information in the decision making process of an organizational books, the profitability of the organization as well as ensuring its continuity as a business entity. It will help in the efficient allocation of scare productivity thereby uplifting the standard of living.
In fact all investors group like shareholder, employers, investors, creditors, government etc. would benefit immensely.

1.8 DEFINITION OF TERMS
SUSTEROUNEA
This word is used to remind us that accounting information on decision making process can also be the foundation of every business, firms establishment, that is to say that this word is used a life wire of every business organization under the earth surface.
ABYSMALLY
This word means that if every business lack accounting information on decision making process it means the organization would always face distress and lack of financial to build up its foundation.
INTRICATELY
A business that do not have a good accounting information on decision making process looks complicating and for that firm to grow is under probability.
INTERWOVEN
It is good for every business to have adequate accounting information on decision making tangled to their normal day to day activities of the establishment.
APTLY
For a business to have excellent accounting information records the chief accountants must show too much concern about the information given.
DEVASTATING
This occurred if a business fails to use accounting information in running it. It would cause a great destruction to the establishment thereby making the firm slow in getting profits.
CULMINATING
This is putting the company in a specified direction by making a very good use of accounting information on decision making process.
HEEDLESSLY
If the company has bad accounting clerk or accountant who does not keep adequate information it pay the compound very bad.
MULTIFURIOUS
If the company have too many accountant who record of entries that is having many varsities of knowledge knowing that too many cooks spoiled food.
RESTRUCTURAL
This accounting information process gives new way to a life of every establishment which is when practiced will get more profits.

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