Abstract

The study, cost accounting, as a tool for management decision making process is targeted at exploring the various ways which cost accounting information could help the management of enterprises especially manufacturing and processing companies in the formation of polices and making of sound and reliable decisions. In order that this purpose could be proven, the researcher formulated various relevant research questions and also two major hypotheses were also formulated. Interview was conducted with the aid of instrument known as questionnaires which were administered to the staff of Tisco’s Pharmaceutical. Chi-square (X2) method was used for testing the hypotheses under the research. Findings exposed that cost accounting is an aid to management decision making. Also, to be clear of every sentiment, relevant literatures complied in authorities in the relevant fields were reviewed. The opinion of authorities was not different, showing that costing information is necessary for fixing selling price, valuation of inventory, inventory control, labour remuneration, waste reduction, capacity utilization, cost control ascertainment of profitability. Thus, the study proves that cost accounting is a tool for management decision making process in any organisation either in public and private sector.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.