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The Effectiveness And Uses Of Accounting Information For Decision Making In Public Sector Organization
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1.7 SCOPE OF THE STUDY
The scope will take into consideration the uses and effectiveness of accounting information for effective decision-making.
Decision
making exist in every organization, for the purpose of this research
the research will be considering only Bank of agriculture (i.e. taking
into consideration Calabar branch).
Accounting staff and manages of their co-operation will be interviewed for the purpose of getting relevant useful
information
for decision making, also to determine how effective to use the
accounting information for their decision making. the recommendation and
the conclusion will be based solely on the information gathered.
1.8 LIMITATION OF THE STUDY
Time
factor: This was one of the major problems I encountered in the course
of the study since the data collected was partly by personal interviews
and persons to be interviewed had limited time to attend to me. Also the
researcher has to allocate part of her time to class room work one and
other activities.
Finance: Another factor that limited the scope of
the study was the financial cost which consisted mostly of travelling
expenses, cost of materials to be used for the study, cost of inputting
the information collected into the computer, cost of diskette, cost of
printing the hard copies and binding of the report. This consisted to
limitation of my study.
1.9 DEFINITION OF TERMS
Decision
making: This is a process of choosing specific cause of action from
among many possible alternatives. Determine ways and means for
accomplishing the line of action decided upon is also a part of the
decision making process.
Accounting: This means the act of recording,
classifying and summarizing in a significant manner and in terms of
money, transaction and events which are in part at least of a financial
character and interpreting the result thereof.
Information: Data that has been processed to produce meaning relating to a field.
Accounting information: Those processed information relating to accounting.
Management: This is a group in a business who have overall responsibility for achieving the company’s goals
Inventory: This is the stock of goods which a firm posses within a accounting period
Cost centre: This is the smallest of activities of areas of responsibilities where costs are accumulated.
Profit
centre: This is a segment of a business that is responsible for both
its revenue end expenses, providing information for such an entity.
Planning:
The use of information supplied by accountants in making decision by
which management formulate objectives for future business of the firm.
Control
and Coordination: A process of ensuring that the cause of actions is
maintained and that the desire aims are achieved. This is done through
the use of budgets and actual data.
Cost Decision: This is the
application of and cost of principles, methods and techniques in the
ascertainment of cost and analysis of savings and or excess as compared with the previous experiences or with standard.
Decision: Alternative lines of action which are often irrevocable.
Organization:
In organization the managers decide how best to put together the
organizations human and other resources in other to carry out
establishment.
Cost Accounting: This refers to the determination and control of cost.
General
Accounting: This is the overall records keeping preparation of
financial statements and reports and control at all business activities.
Budgeting: This is the planning of financial aspect of business operations.
Questionnaire:
This is a method of data collection in which the research questions and
questions on other relevant issues are put down in a systematic manner.
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