RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

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ABSTRACT

The relevance of effective accounting system on the performance of a manufacturing company was intended to investigate the effect of mediocre and lack of comprehensive accounting system, financial accounting system and management accounting system.

The research work also received work done by others in respect to his subject matter by using text books, questionnaires, professional journals and conference papers by prudent scholars.

The statistical research study also revealed that the application of the relevant accounting system in a manufacturing company couldn’t be over emphasized or compromised.

The cost accounting system of manufacturing firms clearly showed the cost of raw material consumed, the prime cost of production and their profit.

It was the recommendation of the researcher that the three accounting system can be used in any manufacturing company, but may not be used in a service oriented industries, except where they are considered essential and indispensable, otherwise, the system are very expensive to maintain.

TABLE OF CONTENT

Title page II

Approval pageIII

DedicationIV

AcknowledgementV

AbstractVI

CHAPTER ONE

1.0 Introduction1

1.1Background of the study1

1.2Statement of the study2

1.3Objective of the study3

1.4Significance of the study3

1.5Scope and limitation of the study4

CHAPTER TWO

2.0 Review of related literature6

2.1 Concept of accounting6

2.2 Evolution of the accounting system8

2.3 Accounting as a system9

2.4 Sound accounting system`12

2.5 Purpose of accounting system17

2.6 Accounting information system23

2.7 Relevance of an Adequate/sound accounting system25

CHAPTER THREE

3.0 Finding, Conclusion, Summary, Recommendation26

3.1 Finding26

3.2 Conclusion27

3.3 Summary28

3.4 Recommendation29

Bibliography32

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RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

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