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  .