RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

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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

Title page II

Approval page III

Dedication IV

Acknowledgement V

Abstract VI

CHAPTER ONE

1.0 Introduction 1

1.1 Background of the study 1

1.2 Statement of the study 2

1.3 Objective of the study 3

1.4 Significance of the study 3

1.5 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

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RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

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