THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES.

THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES.

[A CASE STUDY OF NORTHERN CABLE PROCESSING MANUFACTURING CORPORATION (NACACO)]

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Chapter one

Introduction

  1. Statement of general problem
  2. Objective of the study
  3. Statement of Hypothesis
  4. Significance of the study
  5. Limitation of the study
  6. An overview of the organization

Chapter two

Literature review

  1. Definition of cost accounting
  2. Standard cost introduction
  3. Variance analysis and classification
  4. Budget and budgetary control
  5. Marginal cost
  6. Break even point analysis

Chapter three

        Research methodology

  1. Interview
  2. Population and sample size
  3. Sampling technique
  4. Personal observation
  5. Justification of choice

Chapter four

         Data analysis and presentation

  1. Cost accounting department
  2. Financial department
  3. Production department
  4. Output come of hypothesis

Chapter five

        Summary, findings, conclusion and recommendation

  1. Summary
  2. Findings
  3. Conclusion
  4. Recommendation
  5. Appendix
  6. Bibliography
  7. Reference

 

 

 
CHAPTER ONE

1.0    INTRODUCTION

Cost accounting is considered as the managerial planning and control activities furnishing management with the necessary accounting tools to plan, control and evaluate operation. The term cost accounting as however published by the institute of cost and management accountant is define as “the application of costing and cost accounting principles, methods and techniques to the science art and practice of cost control and the ascertainment of profit”. It includes the presentation of information derived for the purpose of management decision making.

 

The basic difference between a merchandized business and a manufacture is that merchant purchases merchandise in a ready – to sell condition whereas the manufacturer produce the good it sells. In a merchandising business the cost of goods available for sale is based upon the cost of purchase in a manufacturing business on the other hand the cost of manufacturing the finished goods, as a result of this, there is the needs for every manufacturing business to be cost conscious in the course of manufacturing goods.

 

The cost accounting system depends upon the purpose for which the management requires the information for many Purposes such as control, decision making and determination of price.

 

  1. STATEMENT OF GENERAL PROBLEMS

The production of items is not problem but knowing the cost involved during such production is the issue at stake. One just have to recover the investment committed in the production of an item through accounting for such cost and passing it to either the middle men or consumers Iclho pay for the items. This has created room for the existence of a production circle in most of our industries now. To account for the production of an items materials, labour and overhead must have their own share of cost which resulted to be the complete production of the production.

To this end, manufacturer find it littie bit difficult to adequately account for the production cost they incurred and not being able to recover from the item produced, he refinancing power of the organization concerned is reduced in one way or the other, therefore, the producer has to be conscious of cost incurred in the cost at a certain

 

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List of Federal Universities in Nigeria

Abubakar Tafawa Belewa University, .

Ahmadu Bello University, Zaria, .

Bayero University, Kano, .

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Abia State University, Uturu, .

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Ekiti State University, .

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List of all the Federal Polytechnics

    Air Force Institute of Technology Nigerian Air Force, .

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Nigeria Army School of Military Engineering, .

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Waziri Umaru Federal Polytechnic Birnin Kebbi, .

Yaba College of Tech, .

List of State Polytechnics in Nigeria

 Abraham Adesanya Polytechnic, Ijebu-Igbo, .

Abia State Polytechnic, .

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Akwa-Ibom State Polytechnic, Ikot-Osurua, .

Benue State Poly, Ugbokolo, .

Gateway Polytechnic, Igbesa, .

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The Polytechnic, Ibadan, .

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Imo State Polytechnic, Umuagwo, .

Kano State Polytechnic, .

Kogi State Polytechnic, Lokoja, .

Kwara State Polytechnic, Ilorin, .

Lagos State Poly, Ikorodu, .

Moshood Abiola Poly, .

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Nuhu Bamalli Polytechnic, .

Delta State Polytechnic, Ogwashi-Uku, .

Osun State Poly, Iree, .

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Osun State College of Tech, Esa-Oke, .

Delta State Polytechnic, Ozoro, .

Plateau State Polytechnic, Barkin-Ladi, .

Adamawa State Poly, .

Rivers State College of Arts and Science, .

Rivers State College of Arts and Science, .

Rivers State Polytechnic, .

Gateway Polytechnic Saapade, .

Edo State Inst. of Tech and Mgt, Usen, .

Niger State Poly, Zungeru, Niger State, .

List of Private Polytechnics in Nigeria

Allover Central Polytechnic, .

Crown Polytechnics, .

Covenant Polytechnic, .

Dorben Polytechnic, Bwari-Garam Road, .

Fidei Polytechnic, Gboko, .

Grace Polytechnic, .

Grace Polytechnic, .

Igbajo Polytechnic, .

The Polytechnic, Ile-Ife, NITEL Road, .

Lagos City Poly, Ikeja, Lagos State, .

Light House Polytechnic, Eubuobanosa, .

Interlink Polytechnic, .

Kings Polytechnic, Ubiaja, .

RONIK Polytechnic, .

Shaka Polytechnic, Polytechnic, Benin city, .

Temple-Gate Polytechnic, .

Wolex Polytechnic, .

Prime Polytechnic, .

The Polytechnic Imesi-Ile, Osun, .

Heritage Polytechnic, Ikot Udota, .

Ibadan City Polytechnic, .