Relevance of Accounting System on the Performance of Manufacturing Company
Relevance of Accounting System on the Performance of Manufacturing Company
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Abstract on Relevance of Accounting System on the Performance of Manufacturing Company
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.
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