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“The Importance of Management Accounting System in an Organization” (A Case Study of Nestle Nigeria Plc.)

By Sokoya Oyeledun  et al

Summary

The efficiency of any management accounting practice depends very much on the collection and enforcement machinery, teamwork and dedication of the employees.
“The Importance of Management Accounting System in an Organization” (A Case Study of Nestle Nigeria Plc.)
 
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Abstract

The term management accounting consists of two words, which is management and Accounting. The management refers to all levels of managers in the organization. The word Accounting does not only refer to mere records of financial transaction but also cover other field of study. It ensures accuracy, detailed in operations in an organization.

In every organization two things are always in common. Firstly they have a set of goals. The goals vary from each other, some of which are profitability, growth, product leadership, product quality, community services etc. Secondly, the needs for information’s which cuts across financial, legal, marketing, production and political. To achieve the set objective or goals, management requires an information system of which management accounting is an integral part, by providing managers with information that assist in planning and controlling of an organization.

Management Accounting can therefore be defined as the process of identifying, measuring, analyzing, and recording and in planning, controlling and decision making. Management accounting aims at solving various managerial problems through the application of professional knowledge in the field of cost accounting. In other word management accounting starts where cost accounting ends. Hence this research work is focused on the IMPORTANCE OF MANAGEMENT ACCOUNTING IN AN ORGANISATION.” A CASE STUDY OF NESTLE NIGERIA PLC”.

 

The objective of this research work is to study how management account has effect on the Nigeria business environment, consider the relevant of management account in manufacturing account in management industry and Nigeria at large, and to study how management account in management industry and Nigeria at large, and to study how management accounting can bring about ascertainment and estimation of cost.

This research work hopes to examine the frame work under which data are collected. The methods of collecting data are through primary and secondary sources. Primary sources are collected from the respondent directly for example observing, experimenting etc, while secondary sources are originally collected from the purpose of study.

The researcher hopes to find out if the management has complied efficiently and effectively with the management accounting practice.

The efficiency of any management accounting practice depends very much on the collection and enforcement machinery, teamwork and dedication of the employees.

The body of though and practice encompassed by management accounting has charge and evolved in Nigeria and its will continue to do so.

About the Authors

Sokoya Oyeledun
Umoh Blessing

Umoh Blessing

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