THE EFFECT OF ACCOUNTING TO MANAGEMENT DECISION MAKING PROCESS IN TERTIARY INSTITUTION

THE EFFECT OF ACCOUNTING TO MANAGEMENT DECISION MAKING PROCESS IN TERTIARY INSTITUTION (ECONOMICS PROJECT TOPICS AND MATERIALS)

CHAPTER ONE

BACKGROUND TO THE STUDY

1.0     INTRODUCTION

In the world today, record keeping is very necessary in any business organization, this leads to accounting.

Accounting can be defined as the application of professional knowledge in the field of cost analysis and cost accounting to provide necessary information that is useful to the management in the exercise of their decision making, duties and functions.

Accounting is also a process of collecting data analysis and presentation of information for the purpose of assisting the management in effective decision making.

Accounting extends far beyond actual making up of records, it is concerned with the use of records to compute the analysis and interpretation, studying the various alternatives open to the firm and using this accounting experiences in order to aid management decision making as information has value if it is used judiciously for decision making and utilized by individuals.

As a result, the requirement of each individual and the relevance of the information to be provided should be that which is within the understanding and control of decision making process.

Accounting generally serves as a mirror which shows to the outside world the image of an enterprise.

It enables the final consumers of the report to take proper decision.

Account is all about accountability most organizations are externally accountable in some ways for their actions and activities. They will produce reports on their activities that will reflect their objectives and the people to whom they are accountable to.

1.1 STATEMENT OF THE PROBLEM

Due to vital roles played by accounting in management decision making process, the researcher tends to find out those causes that hinders accounting and to highlight the implication of accounting towards decision making.

1.2 PURPOSE OF THE STUDY

The purpose of this research project is to review and to evaluate the performance of the organisation as regards to accounting as an aid to decision making with particular reference to its functions and the role as its relates to the industrial sector of the Nigerian Economy.

To examine to what extent these functions and objectives for which the decision making was established and how far it has been achieved.

Also to examine the areas of problems such as “bottleneck” in accounting to achieve desired goals.

To also examine areas such as operational policies and orientations, disbursement procedures, interest charges on account and other commitments.

THE EFFECT OF ACCOUNTING TO MANAGEMENT DECISION MAKING PROCESS IN TERTIARY INSTITUTION (ECONOMICS PROJECT TOPICS AND MATERIALS)