Relevance Of Accounting System On The Performance Of Manufacturing Company



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Relevance Of Accounting System On The Performance Of Manufacturing Company



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

CHAPTER ONE

1.0 Introduction                                                                                1

  1. Background of the study                                                                   1
  2. Statement of the study                                                            2
  3. Objective of the study                                                             3
  4. Significance of the study                                                                   3
  5. Scope and limitation of the study                                            4

CHAPTER TWO

2.0 Review of related literature                                                                   6

2.1 Concept of accounting                                                                6

2.2 Evolution of the accounting system                                            8

2.3 Accounting as a system                                                              9

2.4 Sound accounting system           `                                               12

2.5 Purpose of accounting system                                                    17

2.6 Accounting information system                                                  23

2.7 Relevance of an Adequate/sound accounting system                            25

CHAPTER THREE

3.0 Finding, Conclusion, Summary, Recommendation                     26

3.1 Finding                                                                                        26

3.2 Conclusion                                                                                  27

3.3 Summary                                                                                    28

3.4 Recommendation                                                                        29

Bibliography                                                                           32

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In any organization, manufacturing or non-manufacturing that knows its functions requires an effective accounting system for it continues in existence. In the past, use have heard of how firms up due to one reason or the other. When properly investigated as to what constitute their folding up, one may not be surprised that it was due to negligence in operating on effective accounting system.

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All Project Materials Inc. (2020). Relevance Of Accounting System On The Performance Of Manufacturing Company. Available at: https://researchcub.info/department/paper-6799.html. [Accessed: ].

Relevance Of Accounting System On The Performance Of Manufacturing Company


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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. 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. .. Click here for more

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