THE INFLUENCE OF ACCOUNTING INFORMATION ON DECISION MAKING IN A MANUFACTURING FILM (A STUDY OF CHAMPION BREWERIES PLC A UYO)
1.1 BACKGROUND OF THE STUDY
An accounting information system (AIS) is a structure that a business uses to collect, store, manage, process, retrieves, and report its financial data so that it can be used by accountants, consultants, business analyst, managers, chief financial officers (CFOS), auditors and regulatory bodies and the tax agencies. Accountants are specially trained to work with his (Accounting information system) to ensure the highest level of accuracy in the company’s financial transactions and record keeping and to make financial data easily available to those who legitimately need access to it, and while keeping data intact and secure. Brock Brock, Plamer and Cunningham (2001).
Accounting information system generally consist of six mazin parts; people, procedure and instructions, data, software, information technology infrastructure and internal controls. Harris (2002). A accounting information system helps the different department within a company work together for example, management can establish sales goals for which staff can then order the appropriate amount of inventory order notified by the accounting department of a new payment when sales are made, people can also enter customers list the warehouse can assemble the order, the shipping department can send it off, and the accounting department gets notified of a new account receivable or new account payable.
The accounting information system should be designed to meet the need of the people who will be using it. The system should also be easily use and should be improve, not hinder efficiency to store information, accounting information system must have s database structure such as structured query language (SQL) a computer.
Accounting information in companion breweries is expected to have the essential quality of good and accurate financial transaction of the firm, since it is the foundation on which the activities of their business depend on Champion Breweries Plc was incorporated as a private limited liability company on the 31st July 1974 with the name south east Breweries limited because of the political imperative in Nigeria. The company name was changed from south east Breweries limited to cross river breweries limited and there after to champion breweries plc, the later name champion breweries limited was change to champion breweries Plc on 1st September, 1992. On the 24th of November 1974, the government of the south eastern state of Nigeria signed an agreement with Messrs Haze Bravery.
With the audient of democracy in Nigeria in May 1999 the government of Akwa Ibom State made the reactivation of the brewery a cardinal activity. Consequently, the Akwa Ibom State investment and industrial promotion council (AKIPOC) was charged with the responsibility to reactivation process which commenced in February 2000, lasted about nineteen month (19), now the plant bas been revamped and restructured to use one hundred percent locally source raw materials.
The brewery is now fully operational and the capacity is 500,000 hectoliters per annum. (Champion Breweries Plc 2001 Annual report).
1.2 STATEMENT OF THE PROBLEM
The poor performance and failure of champion breweries plc aka offot, uyo, akwa ibom state may have been as a result of poor application of management accounting information standards.
Managers in champion breweries plc consciously do not use accounting information as a guide to making decision and price determination. Lack of the use of accounting information may equality hinder the proper allocation of the organization scare resources.
it should be noted that the compliance to the management accounting standard by the managers in champion breweries plc Uyo, in decision making alone, may not completely rule out the incidence of poor performance and failure in our industries but will do a great extent.