The Role of Management Accountant in Manufacturing Company {A Case Study of Guinness Nigeria Plc}

TABLE OF CONTENTS

Title Page                                                                                    i

Certification                                                                                 ii

Dedication                                                                                   iii

Acknowledgement                                                                       iv

Table of Contents                                                                        vi      

CHAPTER ONE:

1.1           Introduction                                                                       1

1.2           The Statement of the Problem                                           3

1.3           The Objective of the Study                                                3

1.4           Significance of the Study                                                   4

1.5           Methodology of the Study                                                 4

1.6           Scope and Limitation                                                         4

1.7           Plan of the Study                                                               5

CHAPTER TWO:        

2.1           Literature Review                                                              7

2.2           Management Accounting                                                   7

2.3           Type of Accounting                                                           8

2.4           Nature of Manufacturing Concern                                     12

2.5           Production Control                                                            13

2.6           Material Costing                                                                14

2.7           Labour Costing                                                                  17

2.8           Overhead Costing                                                              25

2.9           Cost Reduction Scheme                                                     26     

2.10       Value Analysis                                                                  28

2.11       Management  Accounting Behaviours                               29

2.12       Difference between Management Accounting and Financial Accounting.                                                                       31

2.13       Full cost Management Accounting                                    33

2.14       Differential Management Accounting                                34

2.15       Responsibility Management Accounting                           35

CHAPTER THREE:

3.1           Brief History of Guinness Plc                                            37

3.2           Type of Management Accounting                                        Information and their Uses                                                38

3.3           Research and Methodology                                               40

3.4           Population Sample Plan                                                     40

3.5           Data Collection                                                                  41

3.6           Primary Collection                                                            41

3.7           Secondary Collection                                                         41

3.8           Conduct of Field Work                                                      41

CHAPTER FOUR:

4.1           Data Analysis                                                                    44

4.2           Hypothesis                                                                        51

CHAPTER FIVE:

5.1           Summary                                                                           54

5.2           Recommendation                                                               54

5.3           Conclusion                                                                        55

References                                                                         56

Bibliography                                                                      57

Questionnaire                                                                    58

CHAPTER ONE

1.1     INTRODUCTION:

          Management Accounting is the application of professional knowledge and skill in the preparation and presentation of accounting information, in such a way as to assist management in the formulation of policies and in the planning and control of the operation of the undertaking.

          Cost accounting is the application of accounting and costing principles, methods and techniques in the ascertainment of cost and the analysis of saving and /or excesses as compared with previous experience or with standards. It is this link i.e., the subject matter of this project. Costing and costing method supply the basis of factual information on which the management accountant can built up his presentation of planning and control. In this project, I will first look into the following cost items:

a)       Expenditure on material, wages, and overhead is recorded, classified and allocated so that the cost of product may be accurately ascertained.

b)       This cost may be related to sales values.

c)       Profitability may be determined.

          The accounting system collates and coordinates all the activities of the organization that is the total cost incurred, by adding the cost incurred in factory floor or overhead cost from other section of the organization used in pre-determined rate. The industry operates through branches or product unit as they are better known, with such products unit reporting to the head quarters.