ABSTRACT
The study examined the Assessment of the impact of cost control measures in the growth of selected manufacturing firms in Abia state. The specific objectives were to determine the impact of cost control measures on the profitability of the selected manufacturing firms, to determine the impact of control measures on the liquidity, and quality of products of the selected fir-ns. The work adopted a survey method which made use of questionnaire to gather the required data for analysis. The analysis was accomplished using multiple regression. From the analysis, it was observed that the material control was adopted by manufacturing firms to control cost with mean score of 4.22, followed by an agreement to the response that budgeting control was adopted by manufacturing firms to control cost as affirmed by the mean score of 4.06 and standard costing was also adopted with mean score of 3.81. Hence, it is therefore deduced that profitability, Liquidity and Quality of products are significantly and positively influenced by cost control measures adopted by manufacturing firms in the study area at the following levels; 1 %, 5%, and l 0% respectively. It is therefore concluded that controlling cost has remained an important aspect for achievement of organisational goals as it is necessary to assess the impact of cost control measures in the growth of selected manufacturing firms in Abia state, Nigeria. Based on the findings, the researcher recommends that effective cost control, including good responsibility accounting system, should be established by al I manufacturing firms in the country. Cost control should be in place in all the departments, most especially the production department, in order to make sure that units of finished goods arc properly accounted for. Budget established should not remain fixed, but should be revised. when condition changes. Finally, for effective cost control to be achieved, there should be proper data collection, analysis and administration at all level of the business .
AZU, N (2021). Assessment Of The Impact Of Cost Control Measures In The Growth Of Selected Manufacturing Firms In Abia State. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/assessment-of-the-impact-of-cost-control-measures-in-the-growth-of-selected-manufacturing-firms-in-abia-state-7-2
NNAMDI, AZU. "Assessment Of The Impact Of Cost Control Measures In The Growth Of Selected Manufacturing Firms In Abia State" Mouau.afribary.org. Mouau.afribary.org, 30 Apr. 2021, https://repository.mouau.edu.ng/work/view/assessment-of-the-impact-of-cost-control-measures-in-the-growth-of-selected-manufacturing-firms-in-abia-state-7-2. Accessed 31 Oct. 2024.
NNAMDI, AZU. "Assessment Of The Impact Of Cost Control Measures In The Growth Of Selected Manufacturing Firms In Abia State". Mouau.afribary.org, Mouau.afribary.org, 30 Apr. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/assessment-of-the-impact-of-cost-control-measures-in-the-growth-of-selected-manufacturing-firms-in-abia-state-7-2 >.
NNAMDI, AZU. "Assessment Of The Impact Of Cost Control Measures In The Growth Of Selected Manufacturing Firms In Abia State" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/assessment-of-the-impact-of-cost-control-measures-in-the-growth-of-selected-manufacturing-firms-in-abia-state-7-2