Accounting Information And Its Role In The Management Of Organisation

Accounting Information And Its Role In The Management Of Organisation

Abstract

The purpose of this study is to examine “Accounting Informal on and Its Roles in the Management of an Organization,” the problems associated with accounting information preventing an organization from achieving its desired goals, and the solutions to these problems, with particular reference to the preparation and use of accounting information at the premier breweries Onitsha plant. The primary instrument utilized for data collection is the questionnaire. Sixty respondents were personally administered sixty objects. The percentage was used to determine the majority opinion result. The study’s key findings are as follows: First, there is a strong correlation between Accounting data and efficient cash management. Second, this machine breakdown delays the presentation of accounting information. Thirdly, data processing errors prevent accounting information from achieving its desired objectives.

Table Of Content

Acknowledgment of Dedication to Certification on the Title Page

Contents of the abstract

First Section: Introduction

1.1 Context of the Study 1.2 Problem Statement 1.3 Study Objectives 1.4 Study Scope 1.5 Significance of the Study 1.6 Research Questions

1.8 Terminology Definition Citations

Second Chapter: Literature Review

2.1 What is accountancy?

2.2 Developmental History of Accounting

2.3 Department of Accounting

2.4 Accounting procedures

2.5 Accounting records and their users

2.6 Applications of accounting data 2.7 accounting instruments

2.8 Factors that can prevent accounting data from obtaining its desired outcomes

2.9 Abstract of the literature

References

Third Chapter: Research Methodology

3.1 Study Population 3.2 Research Methodology

3.3 Effectiveness of the Instrument 3.4 Administration of the Instrument

3.5 Methodology for Data Analysis

Chapter Four: Data Presentation And Analysis

4.1 Presentation and Analysis of Data

4.2 Examination of Hypothesis

RESUME, CONCLUSION, AND RECOMMENDATIONS OF CHAPTER FIVE

5.1 Summary of Conclusions

5.2 Concluding Remarks 5.3 Suggested Courses of Action

Appendices containing Bibliography

FIRST CHAPTER INTRODUCTION

1.1 INTRODUCTION TO THE STUDY

Every business entity needs information to make economic decisions. According to SINHA (2002), information is an integrating force that combines organizational resources into a cohesive whole. Because information is so fundamental to the realization of an organization, it is essential that it be effectively organized and efficiently managed. This is accomplished through the management information system (MIS). A management information system that equips administrators with the data they need to make decisions within their respective areas of responsibility. In light of this, it is imperative that management is kept apprised of the composition and significance of pertinent data. According to Olannye and Nana (2006), the majority of an organization’s management functions revolve around its finances. Therefore, understanding the content and business relevance of accounting information is a prerequisite for this case study of Premier Breweries Plc, Onitsha.

On January 23, 1976, Premier Breweries Plc, Onitsha was incorporated. The company became a public Limited Liability Company (Plc) on October 19, 1992, meaning it is now listed on the stock exchange. Premier Breweries Plc manufactures Premier Larger Beer and Multi- Malt. Finance and planning, Sales and marketing, Quality control, Production, and Administration comprise the company’s divisions. The division of finance and planning is subdivided into financial accounting, Treasury, data processing, and payroll sections. Each of these sections was written by a CPA.

1.2 DESCRIPTION OF THE PROBLEM

This research endeavor examines “Accounting Information and Its Roles in Organizational Management.” It emphasizes the problems and obstacles that prevent accounting information from achieving its desired objectives. The issues consist of the following:

a. Poor quality of personnel b. Unsigned accounting information channel c. Delayed accounting information delivery d. Machine breakdown e. Nonchalant attitude of financial administrators towards some aspect of financial management.

f. Administrative difficulty

g. lack of utilization of certain information by senior management

1.3 OBJECTIVE OF THE STUDY

The objective of this study is to investigate critically and, of course, objectively:

i. The meaning of the phrase “accounting information”

ii. The function of accounting information in organization management.

iii. The issue and obstacles preventing accounting information from attaining desirable objectives.

iii. To make some helpful suggestions towards the accomplishment of the set goal.

1.4 RADIUS OF THE STUDY

This research endeavor focused on Onitsha-based premier Breweries Plc. The purpose of this paper is to evaluate the composition/content of accounting information, its roles, uses, and relevance in the management of an organization, as well as to identify the obstacles preventing accounting information from achieving its objectives. Due to the researcher’s official responsibilities at his place of employment, the study was hampered by a lack of time. Financial difficulties were also a hindrance, as were the rising costs of stationary materials, which rendered the study nearly impossible to conduct.

1.5 Significance of the Research

This research’s findings will enable management and others to understand the composition/content of accounting information. Its significance and function in the management of an organization. This study also seeks to identify the obstacles that prevent accounting information from achieving its desired objectives.

1.6 RESEARCH QUESTIONS

The researcher posed the following queries to direct the research.

Does accounting information have any bearing on financial management effectiveness?

Does accounting information have any bearing on pricing policy effectiveness?

Does accounting information facilitate the maximization of profits and minimization of expenses?

Errors and late delivery of accounting information may prevent accounting information from achieving its objectives.

Does a financial manager’s indifference toward a particular aspect of financial management and upper management’s failure to utilize certain information prevent accounting information from achieving its desired objectives?

1.7 DEFINITION OF TERMS

Economic entities are also known as business entities or business organizations. There are two categories of economic entities: profit-driven ones, like Premier Breweries Plc, and non-profit ones, like Delta State Polytechnic Otefe Oghara.

b) Cashflow: According to Emery and John (2000), cashflow is a financial statement that reports the movement of capital within a business. It endeavors to report on the sources from which cash is obtained, including share issues, loans, internally generated profit and the uses to which it is put, the acquisition of fixed assets, dividends, and tax payments.

c) Cost center: According to Isreal (2006), a cost center is a location, individual, or piece of equipment (or group of these) for which costs can be determined and related to cost units for control purposes.

d) Cost Unit: According to A. Abohi (2003), it is a qualitative unit of product or service that is used to determine costs.

e) FundFlow: According to Jordan (1999), obligation views fundflow as a statement intended to demonstrate the flow of financial resources over time. They are intended to provide liquidity information. Similar to cashflow statements, fundflow statements are a combination of both cash and accrual-based figures, whereas the cashflow statement endeavors to report only cash movement.

f) Liquidity: According to Douglas (2000), a company’s liquidity measures its ability to locate cash to meet maturing obligations.

g) Solvency; Solvency refers to a company’s capacity to pay its debts.