ABSTRACT
The study investigated on the effect of cost management on the profitability of Nigeria industries. The major objectives of the study are to ascertain the level of adherence to cost management practices in the manufacturing industries, to determine the effects of various costs on the profitability of manufacturing industries in Nigeria and to determine the factors that affect cost management practices in manufacturing industries. To achieve the objectives of the study, survey research design method was adopted. The researcher adopted primary data in getting the required information. The population of the study is made up of 207 respondents while the sample size is made up of 136 after adopting Taro Yamane formula. However, a total number of 136 questionnaires were administered to the respondents, 120 were returned while 16 were void. In testing the hypotheses, multiple regression analysis was used. The findings revealed that there is a significant effect of cost management on the profitability of manufacturing firms in Nigeria. The findings further revealed that there is significant relationship between cost reduction and the profitability of ABSTRACT
The study investigated on the effect of cost management on the profitability of Nigeria industries. The major objectives of the study are to ascertain the level of adherence to cost management practices in the manufacturing industries, to determine the effects of various costs on the profitability of manufacturing industries in Nigeria and to determine the factors that affect cost management practices in manufacturing industries. To achieve the objectives of the study, survey research design method was adopted. The researcher adopted primary data in getting the required information. The population of the study is made up of 207 respondents while the sample size is made up of 136 after adopting Taro Yamane formula. However, a total number of 136 questionnaires were administered to the respondents, 120 were returned while 16 were void. In testing the hypotheses, multiple regression analysis was used. The findings revealed that there is a significant effect of cost management on the profitability of manufacturing firms in Nigeria. The findings further revealed that there is significant relationship between cost reduction and the profitability of manufacturing firms in Nigeria. The researcher recommends that effective cost control, including good responsibility accounting system, should be established by all business concerns in the country. The researcher further recommends that cost control should be in place in all departments, most especially the production department, in order to make sure that units of finished goods are properly accounted for.firms in Nigeria. The researcher recommends that effective cost control, including good responsibility accounting system, should be established by all business concerns in the country. The researcher further recommends that cost control should be in place in all departments, most especially the production department, in order to make sure that units of finished goods are properly accounted for.
UCHECHI, C (2021). EFFECTS OF COST MANAGEMENT ON THE PROFITABILTY OF NIGERIA INDUSTRIES (A STUDY OF SELECTED INDUSTRIES). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effects-of-cost-management-on-the-profitabilty-of-nigeria-industries-a-study-of-selected-industries-7-2
CHIDINMA, UCHECHI. "EFFECTS OF COST MANAGEMENT ON THE PROFITABILTY OF NIGERIA INDUSTRIES (A STUDY OF SELECTED INDUSTRIES)" Mouau.afribary.org. Mouau.afribary.org, 10 Mar. 2021, https://repository.mouau.edu.ng/work/view/effects-of-cost-management-on-the-profitabilty-of-nigeria-industries-a-study-of-selected-industries-7-2. Accessed 31 Oct. 2024.
CHIDINMA, UCHECHI. "EFFECTS OF COST MANAGEMENT ON THE PROFITABILTY OF NIGERIA INDUSTRIES (A STUDY OF SELECTED INDUSTRIES)". Mouau.afribary.org, Mouau.afribary.org, 10 Mar. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effects-of-cost-management-on-the-profitabilty-of-nigeria-industries-a-study-of-selected-industries-7-2 >.
CHIDINMA, UCHECHI. "EFFECTS OF COST MANAGEMENT ON THE PROFITABILTY OF NIGERIA INDUSTRIES (A STUDY OF SELECTED INDUSTRIES)" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effects-of-cost-management-on-the-profitabilty-of-nigeria-industries-a-study-of-selected-industries-7-2