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The Role Of Management Accountant To Cost Control And Profit Performance In An Organization
[A CASE STUDY OF INNOSON NIGERIA LIMITED ENUGU]
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1.8 LIMITATIONS OF THE STUDY
In the process of carrying out this
research work, the most nagging problem facing the study is how to
obtain reference materials. The time to carry out the research is short
and insufficient, since it is done alongside with some other courses to
contend with so as to present a good result. There are also difficulties
associated with personnel‟s accepting to give vital information which
will be of help to the researcher.
1.9 DEFINITION OF TERMS
Accountant:
An accountant is a practitioner of accountancy or accounting ( referred
as an accounting in the united states), which is the measurement,
disclosure or provision of assurance about financial information that
helps managers, investors, tax authorities and others make decisions
about allocating resources.
Management Accountant: are those key
officers that provide business data and analysis to managers within
organizations to assist in decision making and control.
Profit
maximization: A process that companies undergo to determine the best
output and price levels in order to maximize its return. The company
will usually adjust influential factors such as production costs, price
of goods and output level as a way of reaching its profit goal.
Performance;
General accomplishment of a given task measured against present
standards of accuracy, completeness, cost and speed.
Management;:
this is defined as the process of dealing with or controlling things or
people. It is the responsibility for control of a company or similar
organization.
Company: this refers to a legal entity that carries out business in its name.
Information:
this means data that is accurate and timely, specific and organized for
a purpose, presented within a context that gives it meaning and
relevance, and can lead to an increase in understanding and decrease in
uncertainty. Information is valuable because it can affect a decision or
an outcome. For e.g., if a manager is told, his company‟s net profit
decreased in the past month, he may use this information as a reason to
cut financial spending for the next month.
Decision making: the
thought process of selecting a logical choice from the available option.
It is done to achieve a specific objective or solve a specific problem
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTAccountants have been bestowed with the role of providing information to the management regarding the affairs of the organization in particular and to the stakeholders in general. Internally, in manufacturing organization, management has always relied on the management accountant for cost evaluation and performance efficiencies of cost element. This role of management accountant to the management has been in doubt because of incessant increase in the cost elements of goods manufactured i ... Continue reading---
