File Name: cost accounting information and price determination .zip
This research study was conducted to determine the impact of cost accounting information on price determination in some manufacturing companies in Nigeria. The objectives of the study were to determine the components of manufacturing cost information and also to identify the lapses therein. Data collected were analysed using frequency table and chi-square. The result of data analysed showed that cost accounting information contribute a lot on price determination of products. The studies of modern cost accounting yield an insight into both the accountant and management roles in an organization.
In this regard, accountings is often explained as the sciences of activities that are connected and form successive steps starting with observing, the collecting, recording, analyzing and finally communicating accounting information to its users. Cost accounting has a major purpose of accumulating the cost of an organization's products and services. This aspect is regarded as product costing purposes. A view shared by the previous researcher on this topic that there has been a shortfall in the utilization of cost accounting information in some organization and their pricing policy decision making.
It is right of this that this work attempt to suggest a a good system which comprises a set of procedure, records, and facilities that have to do with the systematic and routine compilation and dissemination of cost information and price determination. It help the researcher to see the practical application of the principles stated formally by the cost accounting and determining the cause of the short fall in its application and when applied, the advantages therein.
It also helps to determine an appropriate condition and environment for prayer comparison and analysis of cost. This work is intended to be of benefit to processing business in general. It is hoped that by improving the profitability of hoped this study has benefited the economy as a whole. Following the completion of work and the result made available to them, the processor will be in a position to re-examine their cost accounting information and price determination techniques and update them so as to enjoy these benefits available to firms with good cost accounting and price determination techniques and also avoid plugging their business into financial and operating difficulties.
The scope of this study is restricted to the cost accounting information and its utilization in determining the price of products. The study of Nigerian Breweries 9th Mile Depot Enugu shall also serve other manufacturing companies in States of the Federation since the same techniques are applied in other companies. Therefore, the researcher will rely heavily on the Nigerian Breweries 9th Mile Depot since they have adequate information data relevant to the study. These are financial statements prepared from past activities of the enterprise.
Since these are actual figures of cost and revenue obtained in the past, management can determine the price of its product through it. This is an element of financial management that generates information about the cost of an organization and its components. As such, cost accounting is a subset of accounting in general. There are elements of cost that are associated with or caused by two or more cost objective jointly, but are not directly traceable to each of them individually.
This is the regulation by executive action the costs of operating an undertaking particularly where such action is guided by cost accounting.
Cost center therefore can be defined as a location, person or item of equipment or group of these for which cost may be ascertained and used for purpose of cost control. Methodology In Research Paper. Chapter three of the research project or the research methodology is another significant part of the research project writing.
In developing the chapter three of the research project, you state the purpose of research, research method you wish to adopt, the instruments to be used, where you will collect your data, types of data collection, and how you collected it.
This chapter explains the different methods to be used in the research project. Here you mention the procedures and strategies you will employ in the study such as research design, study design in research, research area area of the study , the population of the study, etc. You also tell the reader your research design methods, why you chose a particular method, method of analysis, how you planned to analyze your data.
Your methodology should be written in a simple language such that other researchers can follow the method and arrive at the same conclusion or findings. The purpose of chapter three research methodology is to give an experienced investigator enough information to replicate the study. Some supervisors do not understand this and require students to write what is in effect, a textbook. Method vs Methodology. I think the most appropriate in methods versus methodology is to think in terms of their inter-connectedness and relationship between both.
You should not beging thinking so much about research methods without thinking of developing a research methodology. Metodologia or methodology is the consideration of your research objectives and the most effective method and approach to meet those objectives. That is to say that methodology in research paper is the first step in planning a research project work. Design Methodology : Methodological Approach. Example of methodology in research paper , you are attempting to identify the influence of personality on a road accident, you may wish to look at different personality types, you may also look at accident records from the FRSC, you may also wish to look at the personality of drivers that are accident victims, once you adopt this method, you are already doing a survey, and that becomes your metodologia or methodology.
Your methodology should aim to provide you with the information to allow you to come to some conclusions about the personalities that are susceptible to a road accident or those personality types that are likely to have a road accident.
The following subjects may or may not be in the order required by a particular institution of higher education, but all of the subjects constitute a defensible in metodologia or methodology chapter. Please feel free to carefully review some written and captured responses from our satisfied clients.
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This is so nice!!!. One of your topics suites my project, but the case study is different. What step should I take? All rights reserved researchwap. Department: Accounting Chapters: You can choose a survey design when you want to survey a particular location or behavior by administering instruments such as structured questionnaires, interviews, or experimental; if you intend manipulating some variables.
A research design is used to structure the research and to show how all of the major parts of the research project, including the sample, measures, and methods of assignment, work together to address the central research questions in the study. The chapter three should begin with a paragraph reiterating the purpose of research.
It is very important that before choosing design methods try and ask yourself the following questions: Will I generate enough information that will help me to solve the research problem by adopting this method? Method vs Methodology I think the most appropriate in methods versus methodology is to think in terms of their inter-connectedness and relationship between both.
Design Methodology : Methodological Approach Example of methodology in research paper , you are attempting to identify the influence of personality on a road accident, you may wish to look at different personality types, you may also look at accident records from the FRSC, you may also wish to look at the personality of drivers that are accident victims, once you adopt this method, you are already doing a survey, and that becomes your metodologia or methodology.
Cynthia, Akwa Ibom State University. Elizabeth, Obafemi Awolowo University. Ali Olanrewaju, Lagos State University. Willie Ekereobong, University of Port Harcourt.
Theressa, Igbinedion University. Joseph, Abia state Polytechnic. Christiana, Landmark University. Musa, Federal University of Technology Minna.
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The cost accountant liaises with the works manager and from him, knows the processes involved in the production or manufacture, the cost incurred at every stage.
Apart from the personal observation, this assertion has also been proved by the responses from the questionnaires and the test of hypothesis costs may be disregarded while making pricing decision if profit, is not considered upper most objective of the company. In this same vein, the stage of the product in the product. Life-cycle also affects the pricing policy.
The need for cost accounting came with increased industrialization, engineering an expansion in manufacturing. It is therefore obvious that in efficient system of costing is essential for industrial control. In period of boom, manufacturers are able to show profit notwithstanding the leakage which pass unchecked, but in periods of trade competition concealed inefficiencies have to track down and rigorous control must be exercised to ensure even modest margin profit. There is not yet an agreed best method of costing products though it may be helpful to recognize that cost allocation are being used to obtain a mutually acceptable price and not necessary to portray caused and effect relationship of cost incurrence. But price determination from cost under efficient operation through efficient cost system will most probably approximate the price of the product to its value. In this regard, accountings is often explained as sciences of activities that are connected and form successive steps starting with observing, the collecting, recording, analyzing and finally communicating accounting information to its users.
Preview chapter one below. The need for cost accounting came with increased industrialization, engineering an expansion in manufacturing. It is therefore obvious that in efficient system of costing is essential for industrial control. And here, we are trying to apply cost information which is efficiently determined to pricing policy decision. There is not yet an agreed best method of costing products though it may be helpful to recognize that cost allocation are being used to obtain a mutually acceptable price and not necessary to portray caused and effect relationship of cost incurrence. But price determination from cost under efficient operation through efficient cost system will most probably approximate the price of the product to its value.
The topic, “Cost Accounting Information and Price Determination” Is teaching about cost accounting when adequately treated and its uses to the management of.
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