Abstract
The aim of this research was to find out to what extent does managements of some select manufacturing firm makes use of accounting information in decision making process. A research design of two basis approaches were used in the study. They are the survey approach and the case study approach. A case study approach was also used to explain the “impact of accounting information” on decision making process which the researcher got their information from some selected manufacturing firm like Emenite, Anammco, Out of the population of 200 staff, the researcher judgmentally selects 133 staff, as the target population. The target population is involved directly with decision making all staff of Emenite, Anammco. To determine the sample size from the population the researcher used the Yaro Yamani’s formular which is: After a careful analysis and interpretation of data generated in the course of this research work, the following findings were made in order to confirm the null or alternative hypothesis stated in this study. Firstly, there are problem in generating and utilizing accounting information necessary for management decision making processes. Secondly, accounting information generated by accounts department has contribution in decision making process. Furthermore, accounting information has improved effectively, the basic roles of cost minimization, proper allocation of scare resource and the improvement of production. Finally the research also discovered that the selected manufacturing firms made use of cash flow statement, profit and loss account etc. in the planning of the operations and extending credit to other company. The objectives of the firm differ from one organization to another. Based on the statement of the problem stated in chapter one, the research concluded that the application of accounting information makes the difference between failed banks, enterprises, corporate bodies on one side and the successful one on the other side. For the improvement in the application of accounting information to be sustained, adequate understanding of the difficulty in the application of accounting information is very essential. If this is applied as at when due failure in business both private and public sectors will be highly minimized. Accounting information on decision making process has helped in the proper allocation of resource such as material, money, machinery and man. In conclusion, the failure of firms may not be due to non- generation of accounting information but they will be used effectively, efficiently and appropriately utilized in the accounting information generated in an organization. The study made the following recommendation as follows, Efforts should be made at employing professional staff with transparent honest ways of performance and also, due punishment should be given to fraudulent staff. Seminar/ training should be given to staff of accounting department to enable them specialize more on the field of accounting. The stakeholder, investors and other user should be meeting at interval so as to assist the management in the achievement of the organization goals. Use of modern devices like computer should be introduced to the staff to enhance efficiency and effectiveness in decision making. Special panel or auditor should be introduced to ensure the accuracy of the accounting information so that the user should not be deceived.
Keywords: Leverages, Decision making, Analysis, Effectiveness, Efficiency.
