Accounting Information And Its Role In The Management Of Organisation

ACCOUNTING INFORMATION AND ITS ROLE IN THE MANAGEMENT OF ORGANISATION

Abstract

The purpose of the study is to investigate “Accounting Informal on and its Roles In the management Of an Organization,” as well as the obstacles that prevent accounting information from serving its intended purpose and strategies for overcoming them. Premier Breweries’ Onitsha plant is used as a case study to illustrate these issues. The questionnaire was the main tool utilized to acquire data. Sixty respondents received a personal administration of sixty items. The outcome of the majority’s opinions was calculated using the percentage. The following are the study’s main conclusions: First, efficient cash management and accounting information have a close relationship. Second, the machine malfunction causes the accounting information to be presented late. Third, data processing errors prevent accounting information from achieving its desired objectives.

Assumable Contents

Title page Certification Dedication Acknowledgment

Abstract Table of contents

First Chapter: Introduction

Background of the Study, Problem Statement, Statement of the Problem, Purpose of the Study, Scope of the Study, Significance of the Study, and Research Questions

1.8 Definition Of Terms References

Part Two: Review Of The Literature

2.1 Define accounting

2.2 Accounting’s Historical Development

2.3 Division of Accounting

2.4 Accounting operations

2.5 Accounting data and its consumers

2.6 Applications of Accounting Information

2.7 Accounting Instruments

2.8 Potential obstacles to accounting information meeting its desired objectives

2.9 Literature review executive summary

References

Research Methods In Chapter Three

Population of the Study

3.1 Research Tool

3.2 Research Method

3.3.1 Validity of the Instrument

3.3.2 Administration of the Instrument

3.5.1 Data Analysis Method

Data Presentation And Analysis In Chapter Four

4.1 Analysis and Presentation of Data

4.2 Testing of Hypothesis, Section

Synopsis, Conclusion, And Recommendations For Chapter Five

5.1 Findings Synthesis

5.2 A Conclusion is Provided, and

5.3 Recommendations are Made.

Bibliography Appendices

First Chapter Introduction

1.1 Background of the study

Information is a must for all corporate entities while making financial decisions. In order to realize organization in such a fundamental way, it is crucial that information be effectively organized and handled. This is accomplished through what is now known as management information system (MIS), which SINHA, 2002 claims views information as an integrating force that unites organizational resources into a cohesive whole. a management information system that offers each manager the data they need to make choices regarding their specific areas of responsibility. This makes it vital to keep management informed about the nature and significance of pertinent information. Olannye and Nana (2006) assert that the majority of managerial tasks are focused on an organization’s financial element. Because Premier Breweries Plc., Onitsha is the study’s case, understanding the content and commercial value of accounting information is a prerequisite.

Onitsha’s Premier Breweries Plc was established on January 23, 1976. It became a public Limited Liability Company (Plc) on October 19, 1992, which means the business is now traded on the stock exchange market. Premier Larger Beer and Multi-Malt are produced by Premier Breweries Plc. The company is divided into the following departments: production, administration, sales and marketing, quality control, and finance and planning. The financial accounting, Treasury, data processing, and payroll sections make up the finance and planning division’s CD. These sections were all written by accountants.

1.2 Statement of the problem:

The main topic of this study is “Accounting Information and Its Roles in the Management of an Organization.” It places attention on the issues and challenges preventing accounting information from accomplishing its desired objectives. The issues consist of the following:

Poor employee quality, an unsigned conduit for accounting information, a delay in the delivery of accounting information, a malfunctioning machine, and a lackadaisical attitude on the part of financial managers toward some area of financial management are just a few examples.

f. Issues with administration

g. Top management’s underuse of some information

1.3 Objective Of The Study

The goal of this study is to critically and, of course, impartially examine:

The definition of “Accounting information”

ii. The function of accounting data in an organization’s management.

iii. The issue and challenges preventing accounting information from accomplishing desired objectives.

iv. To offer some helpful advice in order to accomplish the goal.

1.4 The Study’s Perspective

This study was conducted to examine Onitsha’s top Breweries Plc. It aims to evaluate the makeup and substance of the term accounting information, as well as its functions, applications, and applicability in the management of an organization. It also aims to emphasize the issues and challenges that prevent accounting information from successfully accomplishing its desired objectives. Due to the researcher’s requirement to complete an official assignment at his place of employment, the study was constrained by a lack of time. Financial issues were another barrier because the inflationary trend in information costs for stationary objects made research nearly impossible.

1.5 The Study’s Significance

The results of this study will help management and others understand the structure and substance of accounting information. Its function and importance in organizational management. This study also aims to identify the issues and challenges preventing accounting information from accomplishing its desired objectives.

1.6 Research Problems

The following issues were raised by the researcher as a starting point for the investigation.

1. Is there any connection between accounting data and efficient cash management?

2. Is there a connection between accounting information and successful pricing strategy?

3. Does accounting information help with cost-cutting and profit maximization?

4. Do mistakes and delayed supply of accounting information prevent it from accomplishing its desired objectives?

5. Does top management’s lack of utilization of certain information and financial managers’ nonchalant attitude toward some aspects of financial management prevent accounting information from reaching its desired objectives?

Definition of terms, section 1.7

a) Economic Entities: Also known as business entities or business organizations, economic entities are legal entities. There are two different kinds of economic entities: ones that are profit-driven, like Premier Breweries Plc, and ones that are non-profit-driven, like Delta State Polytechnic Otefe Oghara.

Emery and John (2000) define cashflow as a financial statement that details the movement of money inside a business. It makes an effort to provide information on the sources of cash, including share issuances, loans, internally produced profit and the purposes for which it is used, the purchase of fixed assets, dividend payments, and tax obligations.

c) Cost center: Isreal (2006) defined a cost center as a place, a person, or a piece of equipment (or a collection of these) for which costs may be determined and connected to cost units for control reasons.

d) Cost Unit: According to A. Abohi’s 2003 definition, a cost unit is a qualitative unit of a good or service that is used to determine costs.

e) FundFlow: In the standpoint of obligations, fundflow is a statement that depicts the movement of financial resources through time, according to Jordan (1999). They are meant to provide liquidity information. Fundflow statements and cashflow statements are quite similar, but the key distinction between them is that whereas fundflow reports combine accrual-based and cash-based data, the cashflow statement tries to reflect just cash movement.

f) Liquidity: According to Douglas (2000), a company’s liquidity measures its capacity to raise money to pay for maturing commitments.

g) Solvency; this refers to a company’s capacity to settle its financial obligations.