Abstract
The costing of products and services has become an important issue in today’s business world. This is evident because of the present circumstances characterized by intense competition, galloping quality standard and price wars for customer attraction. Arising from the foregoing, Activity-Based Costing system has developed over the past decades. ABC is an accounting system that measures the use resources by activities. The paper thus, examines the practicability of Activity- Based Costing in GOFCECON LTD. Related literatures were reviewed. The study employs a survey method through the use of unstructured interview to collect data. The population is made up of ten (1'7 respondents. The method of analysis employed by the study was the use of simple percentage. Findings revealed that the company’s management and the finance department are not aware of Activity Based-Costing system and not willing to for now accept and or implement. It is recommended that the management of GOFCECON LTD should accept the concept of ABC and make adequate provisions for management accountants to further their education in order to understand the viability of ABC, extol its virtues and enjoys its practicability.
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