ACCOUNTING AS A TOOL FOR EFFECTIVE MANAGEMENT FUNCTION IN AN ORGANIZATION”, (A CASE STUDY OF AKWA SAVINGS AND LOAN LIMITED UYO)
CHAPTER ONE
BACKGROUND OF THE STUDY
- INTRODUCTION
Accounting plays a vital role in an organization for ensuring effective management function which contributes immensely to the success of an organization. The accounting department of an organization feed the management and/or board of directors with information before a decision could be taken.
Decision making is an important and necessary activity of every business organization, large ort small. A few decisions are rather routine and can be made quickly after consulting only a few complex and serious large-range problems.
In order to get through these, a great deal of accounting information is need before a decision may well determine the ultimate success of failure of the organization and its destiny.
Today, accounting plays the most important and accurate role in all organization both small and big business organizations depends on accounting information available to them to make proper decision to help them achieve their goals.
It is therefore wise to plan ahead of time with the resources available. This can only be possible if adequate and reliable financial data which account will provide are available. The research shall also examine several ways in which accounting has become tool for management and owners of the organization and how the businessmen depend on the information provided by the accountant as the basis for policy information and decision making.
1.2 STATEMENT OF THE PROBLEMS
There has been high incidence of failure in business organizations, banking institutions, educational institutions because of poor management decision.
Failure in organizations also as a result of poor planning which arises from inaccurate data, generated in the organization. If an organization is associated with poor planning, poor decision making, low productivity is inevitable. When the management and broad of directors are not properly informed they are band to make mistakes and this may lead to the collapse of the organization.
1.3 OBJECTIVES OF THE STUDY
The researcher conducts this research study so as to direct the minds of all those who may wish to use this research work including the entire staff of the company understudy towards the achievement of the following objectives:
- To determine the extent of which accounting functions has help the top management executives in both private and publish organizations, to make good decisions.
- To find out factors that affect the accounting department, preventing them from carrying out their functions as expected
- To determine the assessment of government (Federal and State) Cognition of the role of accounting in the nation economy.
- To identify how business forecasting rest on analysis of statistical data hence accounting analysis
- To examine government policies which promote accountability in public and private enterprises in Nigeria.
1.4 SIGNIFICANCE OF THE STUDY
At the completion of this research work a lot of people would derive benefit form it with the in-dept assessment of the role that accounting plays in a better management function, government would benefit form this research work because is helps them to do their budget planning.
Business organization would also benefit from this research. It would also be recognized the overall success or otherwise of any business enterprises which depends on the accounting information supplied to the management.
This project would help other students of accounting as a source of information in their academic work.
1.5 SCOPE /LIMITATION OF THE STUDY
This study is limited to Akwa Savings and Loan Limited, Oron Road Branch, Uyo, with references to accounting as a tool for effective management function in an organization.
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