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Analog, Adequate Abdullah and decade, Kayoed Samson Department of Management Science and Accounting, Faculty of Management Sciences, Loaded Okinawa University of Technology, Gobos, Oho State, Nigeria. 2 Department of Accounting, College of Social and Management Sciences, Joseph Ay Balloon university,P. M. B 5006 Kiwi-Arise, Sun State, Nigeria. Corresponding Author: Analog, Adequate Abdullah Abstract The study evaluates Management Accounting Techniques as tools for Planning and Control Decision-Making In the selected manufacturing business in the study area.

It as are specific objectives as: to examine the socioeconomic parameters influencing selection of MATS, to examine effect of socio economic parameters on the effectiveness of MATS, to identify the extent of adoption of MATS. Thirty (30) manufacturing companies were selected as the sample size through stratified random sampling technique. Descriptive analysis was employed through the use of tables, percentages, ranks e. T. C. However the hypotheses were tested using of Chi Square (XX) at 5% of significance, Correlation and Regression analysis through the use of Stats 10.

Evaluation of Management Accounting Techniques TOPICS SPECIFICALLY FOR YOU

The result revealed that socio economic parameter has significant effect on Its adoption and effectiveness Based on findings, the study therefore recommends that management accounting techniques should be embraced thoroughly by manufacturing businesses developing countries such as such as Nigerian manufacturers In order to better their portfolio and Improve their planning companies to know the importance of management accounting techniques, impact of socio economic parameter in is adoption and its effect as planning and control decision-making tools.

Keywords: management accounting techniques, planning, competitive environment, manufacturing companies, decision making f resources by people, in dynamic and competitive contexts. INTRODUCTION Management process is a set of interdependent activities used by an organization to carry out their functions which include, planning, organizing, staffing, leading, and controlling.

Breech (2010) recommends the following definition of management as the most appropriate for general usage: “A social process entailing responsibility for the effectiveness and economic planning and regulations of the operation of an enterprise in fulfillment of a given purpose of task. ” Such responsibilities involve: (I) Judgment and decision in determining plans ND in using data to control performance and progress against plans; and The guidance, integration, motivation and supervising the personnel comprising the enterprise and carrying out its operations.

It is an integral part of the management process, distinctly adds value by continuously probing whether resources are used effectively by people and organizations – in creating value for customers, shareholders or other stakeholders. (Talladega, 1998). In this regard, resources include not only financial ones, but also all other resources created and used by organizations as a result of financial expenditures.

Thus, information and knowledge, work processes and systems, trained personnel, innovative capacities, morale, flexible cultures, and even committed customers may be included as resources – along with special configurations of resources that may be identified as strategic capabilities, core competencies or intellectual capital. Management accounting tasks deals with collection and provision of information for managers to use in decision making. The purpose of management decision making.

Its role has Management Accounting refers to that part of the management process which is focused on adding alee to organizations by attaining the effective use 274 274-280 (SINS: 2141-7016) traditionally been limited to the provision of relevance information for achieve planning, control and decision making (Responder and Hart, 2003). The impact of the manner in which decision information is provides by accountant to decision makers is a critical in understanding how management accounting information should be collected and provided to superior performance.

With ever increasing competitive pressure for the firms, a regular supply of management accounting information is arguably more importance than ever. It provides useful information for management to make decision and operate plan and control (Fizzing, 2006; cardinals et al, 2004 cavalries et al, 2003; Change, 2002). Business owners and managers also must pay careful attention to the problem that may arise in the application management accounting as the survivals of manufacturing firms depend on ability to both performance and strategies to improve the quality of decision (Duh et al, 2009).

Management accounting therefore focuses primarily on data gathering (from internal and external sources) analyzing, processing, interpreting and communicating the results information for use within he organization so that management can effectively plan, make decisions and control operations. The above activities will therefore ensure effective: 0 Formulation of plans to meet objectives I. E. Strategic planning 0 Acquisition and use of fund I. . Financial management accounting 0 Communication of financial and operating information 0 Corrective action to bring plans and results into line, I. E. Financial control 0 Reviewing and reporting on systems and operation I. E. Internal audit or management audit. Moreover, previous research has suggested that management accounting have indeed adapted successfully and is increasingly becoming involved in decision making (Rowe et al, 2008).

Also, there are evidence in management accounting literature that examines the relationship between decision making and performance (Anymore et al, 2001). It is on this basis that literatures submit that Management Accounting is concerned with providing information to managers especially people inside an organization that direct and control its operation. Thus, the nature of Management Accounting as a manager oriented tool requires that its study be preceded by some understanding of what managers do, the information deed, and the general business environment.

However, Planning can be thought of as a thorough formalized process encompassing great effort at all levels of an organization to come up with essential short and long term decisions and policies and recommended actions that will help direct a business or organization towards a stated vision, goal, and objective which may include shareholder appreciation, stakeholder and employee satisfaction, while encompassing financial objectives, moral, and ethical considerations in the decision making process (Bryon, 2010; Framer, Harris, & Phillips (2010); Dye & Gibson, 2007).

STATEMENT OF PROBLEM The Manufacturers Association of Nigeria (MAN) has been complaining of societal attitude toward locally made goods and preference for imported ones substantiate due to the fact that competition has become stiff and fierce, the imperatives of globalization have all combined to force organization to seek better ways of optimizing the competitive advantage. Companies lacking appropriate Management Accounting skills may be unable to adjust to the pressure of this competition and may not succeed in the long run as it is very critical to survival of business.

Moreover, companies are required by law to keep retain financial information, however, it is often found that in meeting the business legal obligations the small business owner is found wanting. It may be too convenient to ensure the bank balance is always positive and then wait until the end of the accounting year before knowing the financial results of the business. This approach may not be consistent with meeting the legal requirements but today much help is available to overcome some areas of weakness in controls within a business.

Some manufacturing companies in Nigeria are not even aware of the importance of Management Accounting Techniques which leads them to engage n activities which do not add value to their business and in which they do not have competitive ability thus leaving their core competent area to suffer and incur unnecessary costs Moreover, it is observed that there has been tremendous work on topics related to this, but most of them used descriptive analysis and a few among them that attempted to use models limited themselves to general applicability without them given consideration to socio-economic parameter affecting selection of management accounting techniques as planning and control decision making However, Management Accounting is an internal equines function responsible for reporting financial information to business owners. Companies often use business management. Management Accounting task requires that accountant make Judgments in collecting and providing information to use in decision making. 275 274-280 (SINS: 2141-7016) tool and its impact in the effectiveness of those techniques. It is on view of this that the present study decided to incorporate socio economic parameter into the study to see its influence on the adoption of management accounting techniques and its effectiveness.

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