Application of Cost Accouting in Small Business
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African Training and Research Centre in Administration for Development
اﻟﻤﺮآﺰ اﻹﻓﺮﻳﻘﻲ ﻟﻠﺘﺪرﻳﺐ و اﻟﺒﺤﺚ اﻹداري ﻟﻺﻧﻤﺎء
Centre Africain de Formation et de Recherche Administratives pour le Développement
C.A.F.R.A.D. African Training and Research Centre in Administration for Development
Cost Accounting Practice in the informal Sector of Nigeria : A Survey of Eastern business Zone
By : Lawyer C. OBARA and Ndukwe A. UKPAI Tangier Morocco - 2001
Bd. Mohammed V, Pavillon International P.O. Box 310, Tangier, 90001 Morocco
Tel: (212) 61 30 72 69 - Fax: (212) 39 32 57 85 E-Mail : cafrad@cafrad.org Web Site: http://www.cafrad.org
Bd. Mohammed V, Pavillon International B.P. 310 Tanger, 90001 Maroc
Cost Accounting Practice in the Informal Sector of Nigeria
ABSTRACT
Cost accounting is a veritable tool in the management of any organization including those in the informal sector. Analyzed data from the respondents to our research instruments, indicated the maintenance of improper and inadequate records coupled with the fact that costing methods used, though sometimes effective, were unconventional. The informal businesses will approach profit maximization levels if effective cost control procedures are established and appropriate books of accounts installed. We suggest therefore that since these artisans may not be able to afford the employment of qualified and experienced accountants, they can still benefit from the services of such professionals through consultancy or part-time arrangements.
PREAMBLE
It is axiomatic that continuous existence of all business concerns depends on the efficient and effective practice of cost accounting. The principal objective of cost accounting is the provision of detailed information for planning, control and decision making. There is the recognition that the cost accounting practice in the informal sector of Nigeria is not without criticism. The current state of cost accounting practice in the informal business...
اﻟﻤﺮآﺰ اﻹﻓﺮﻳﻘﻲ ﻟﻠﺘﺪرﻳﺐ و اﻟﺒﺤﺚ اﻹداري ﻟﻺﻧﻤﺎء
Centre Africain de Formation et de Recherche Administratives pour le Développement
C.A.F.R.A.D. African Training and Research Centre in Administration for Development
Cost Accounting Practice in the informal Sector of Nigeria : A Survey of Eastern business Zone
By : Lawyer C. OBARA and Ndukwe A. UKPAI Tangier Morocco - 2001
Bd. Mohammed V, Pavillon International P.O. Box 310, Tangier, 90001 Morocco
Tel: (212) 61 30 72 69 - Fax: (212) 39 32 57 85 E-Mail : cafrad@cafrad.org Web Site: http://www.cafrad.org
Bd. Mohammed V, Pavillon International B.P. 310 Tanger, 90001 Maroc
Cost Accounting Practice in the Informal Sector of Nigeria
ABSTRACT
Cost accounting is a veritable tool in the management of any organization including those in the informal sector. Analyzed data from the respondents to our research instruments, indicated the maintenance of improper and inadequate records coupled with the fact that costing methods used, though sometimes effective, were unconventional. The informal businesses will approach profit maximization levels if effective cost control procedures are established and appropriate books of accounts installed. We suggest therefore that since these artisans may not be able to afford the employment of qualified and experienced accountants, they can still benefit from the services of such professionals through consultancy or part-time arrangements.
PREAMBLE
It is axiomatic that continuous existence of all business concerns depends on the efficient and effective practice of cost accounting. The principal objective of cost accounting is the provision of detailed information for planning, control and decision making. There is the recognition that the cost accounting practice in the informal sector of Nigeria is not without criticism. The current state of cost accounting practice in the informal business...