An Evaluation Of Accounting System In Manufacturing Company

Download complete project materials on An Evaluation Of Accounting System In Manufacturing Company from chapter one to five

TABLE OF CONTENTS

TITLE PAGE

CERTIFICATION

DEDICATION

ACKNOWLEDGEMENT

CHAPTER ONE – INTRODUCTION

BRIEF OVERVIEW OF THE SUBJECT OF STUDY

STATEMENT OF THE PROBLEM

PURPOSE OF THE STUDY

RESEARCH METHODOLOGY

STATEMENT OF HYPOTHESIS

RESEARCH QUESTION

SIGNIFICANT OF THE STUDY

SCOPE AND LIMITATION

PLAN OF THE STUDY

DEFINITION OF TERMS

CHAPTER TWO

– LITERATURE REVIEW

2.1     INTRODUCTION

2.2     MEANING OF ACCOUNTING SYSTEM

2.3     NEED FOR ACCOUNTING SYSTEM IN MANUFACTURING COMPANY

2.4     BASIS OF ACCOUNTING SYSTEM

2.5     ACCOUNTING SYSTEM OPERATION IN MANUFACTURING COMPANY

2.6     THE IMPORTANCE AND ROLES OF ACCOUNTING SYSTEM

2.7     CHALLENGES OF ACCOUNTING SYSTEM IN MANUFACTURING ENVIRONMENT

CHAPTER THREE – RESEARCH METHODOLOGY

3.1     INTRODUCTION

3.2     HISTORICAL BACKGROUND OF THE CASE STUDY

3.3     RESEARCH DESIGN

3.4     POPULATION AND SAMPLING PROCEDURE

3.5     DATA COLLECTION PROCEDURE

3.6     METHOD OF DATA ANALYSIS

CHAPTER FOUR – DATA PRESENTATION ANALYSIS AND RESEARCH FINDINGS

4.1     INTRODUCTION

4.2     DATA PRESENTATION

4.3     DATA ANALYSIS

4.4     SUMMARY OF FINDINGS

CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION

5.1     SUMMARY

5.2     CONCLUSION

5.3     RECOMMENDATION

BIBLIOGRAPHY

CHAPTER ONE

INTRODUCTION

1.1  BRIEF OVERVIEW OF THE SUBJECT OF THE STUDY

The environment of accounting is changing fast and these environment changes, such as continued infection and critical financial problems of many companies affect the goals content of an introductory text in accounting. In other to function intelligently as a citizen, as well as in a business of any size or type, every individual needs more than ever before a clear understanding of accounting system.

Many people think of accounting as a highly technical field which can be understood only be professional accountant. Nearly everyone practices accounting in one form or another on an almost daily basis what is accounting? Accounting is the art of measuring communicating and interpreting financial activity (Walter and Robert 1987).

Whatever you are preparing, a household budget, preparing your income tax return or running general business, you are working with accounting concepts and accounting information.

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Accounting has often been called the “Language of Business’’. In recent years, corporate profit has become a topic of considerable public interest. Also accounting is a support function of business unlike the sale of automobile which brings in money to the dealership, accounting by itself generates no each. T o earn its way accounting must provide more benefit for the organization than the cost of operating the accounting department.

What benefit does accounting system bring to a car dealership? Simply, better decisions, for example, the owners must decide how many sales persons to have and how to pay them straight salary, commission or salary plus commission. Operating without an account system would be like driving blind from stage to a remote village.

Therefore, we like in an era of accountability. Although accounting has made its most dramatic progress in the field of business, the accounting function is vital to every unit of our society. Individual must account for their income, large corporation are accountable to their stockholders, to government agencies and the public.

The Federal Government, the state, the cities, the school district, all must use accounting as basis for controlling their resources and measuring their accomplishment. Accounting system is equally essential to the successful operation of a business, university, a social program or city.

In conclusion, this research work is interested in studying accounting system in a manufacturing company using the International Tobacco Company Plc as a case study.

1.2 STATEMENT OF THE PROBLEM

It is generally believed that accounting is a dynamic profession. The accounting information is a crucial to the implementation of some sort of economic decision or structure by the decision makers.

However, the generation of adequate sufficient and relevant information, appropriate to determine the revenue, income potential and expenditure level may be hampered.  More also the valuation of assets and liability become difficult consequently, determination of profitability and financial of an organization of a particular time become difficult hence the evaluation of accounting system in manufacturing firms.

PURPOSE OF STUDY

The objective of the study is to evaluate the accounting system in manufacturing company, a case study of International Tobacco Company Plc Ilorin. In order to achieve above objective relevant literature was reviewed. Basis of accounting system in the manufacturing companies was investigated. Challenges of accounting system in manufacturing companies’ identified recommendation preferred for improvement.

RESEARCH METHODOLOGY

In the course of carrying out this research work, methods used in the collection of necessary  data and information  are clearly started, data collected are analyzed using appropriate technique and tools for the purpose research work. Both primary source and secondary source of data are making use of, primary source to include questionnaire, interview and materials obtained from the case study.

While secondary sources include previous research work, textbook written by scholar, document materials and year book. Both the primary and secondary sources of data are utilized to lend credence to the problem been studied which is the purpose of this research work.

Survey study is aimed out; this approach involves the study of case study (International Tobacco Company Plc Ilorin) and other institution of great relevance to the problem of the research study. Data are collected, analyzed and conclusion drawn on the evaluation of accounting system and it significance in manufacturing company

STATEMENT OF HYPOTHESIS

This is a tentative statement about reality that can either be supported about reduce on the basis of collected evidence or relevant information. This basis above boil down to the fact that statement of hypothesis becomes only acceptable law or theory when proved so by collected evidence. This study seeks to examine the following hypothesis that:

Ho: Accounting system in operation in manufacturing company has no significance relationship with determination of company’s profit.

Hi: Accounting system in operation in manufacturing company has significance relationship with determination of company’s profit.

RESAERCH QUESTION

The research study will provide adequate answer to the following   questions:

Does the manufacturing companies follow prefer accounting system?

Is their any benefit of accrual basis of accounting system on the manufacturing?

What are the criticisms against the accrual basis of accounting system used by manufacturing company?

SIGNIFICANCE OF THE STUDY

The main significance of this project is to have a better insight into the activities going on in the accounting section of manufacturing company.

Also to broaden the research knowledge on areas covered in the lecture room and identifies areas omitted in the course of this project.

To enlighten the readers of this project about different basis of accounting system available for all corporate bodies and organization.

To prepare readers who might have interest in working in the manufacturing company to have insight and awareness into the activities in other to prevent nativity. And lastly to acknowledge the overall relevance of accounting system in an organization and its various contribution to the operation of the activities of the organization.

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