THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING

ABSTRACT

This research work is on the importance of cost accounting in management decision making. The existence of obvious mismanagement fraud and extravagance, scandalous embezzlement in our companies and even the government owned parastatals has led to the need to find out whether management in cost accounting has any impact or not in decision making.

It is the interest of the researcher to find out is as follows:

(i) Formulation of effective planning and control techniques.

(ii) The application of costing in management decision making

(iii) The relationship between cost data and management decision making.

The research used both primary source and secondary source for the study. The study has shown that there is increasing need for management, thereby creating the view that management control of accounting record makes it possible for errors and mistakes to be detected and corrected promptly.

Moreso through management the work of an individual will be complimentary to that of another to enhance efficiency. As a guide for management improvement some recommendation were put forward. These include movement from the emphasis on error reduction measure to management training and retiring of personnel to enable efficient management control to embrace the challenge of modern technology changes in accounting and other economic activities.

TABLE OF CONTENT

TITLE PAGE i

DECLARATION ii

APPROVAL PAGE iii

DEDICATION iv

ACKNOWLEDGEMENT v

ABSTRACT vi

TABLE OF CONTENT vii

CHAPTER ONE

1.1 Background of the study

1.2 Statement of problems

1.3 Objectives of the study

1.4 Significance of the study

1.5 Scope and limitation

1.6 Definition of terms

CHAPTER TWO: LITERATURE REVIEW

2.1 Meaning of cost accounting

2.2 Cost accounting system

2.3 Classification of cost

2.4 Purpose of cost accounting

2.5 Costing information for decision making

2.6 Decision making

2.7 Control

2.8 The element of control

2.9 Types of control

2.10 The importance of cost accounting in decision making

CHAPTER THREE

3.1 Summary of finding, recommendation and conclusion

3.2 Summary of finding

3.3 Conclusion

3.4 Recommendation

BIBLIOGRAPHY

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APA

ShC49Ph5c0009dd836123.71809855, B. (2018). THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING. Afribary. Retrieved from https://beta.afribary.com/works/the-importance-of-cost-accouunting-in-management-decision-making-8692

MLA 8th

ShC49Ph5c0009dd836123.71809855, BPZusgD5c0009dd813ad5.89971962 "THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING" Afribary. Afribary, 29 Jan. 2018, https://beta.afribary.com/works/the-importance-of-cost-accouunting-in-management-decision-making-8692. Accessed 03 Aug. 2025.

MLA7

ShC49Ph5c0009dd836123.71809855, BPZusgD5c0009dd813ad5.89971962 . "THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING". Afribary, Afribary, 29 Jan. 2018. Web. 03 Aug. 2025. < https://beta.afribary.com/works/the-importance-of-cost-accouunting-in-management-decision-making-8692 >.

Chicago

ShC49Ph5c0009dd836123.71809855, BPZusgD5c0009dd813ad5.89971962 . "THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING" Afribary (2018). Accessed August 03, 2025. https://beta.afribary.com/works/the-importance-of-cost-accouunting-in-management-decision-making-8692

THE IMPORTANCE OF COST ACCOUUNTING IN MANAGEMENT DECISION MAKING

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