Abstract

The topic of this project work is "Impact of Accounting Information on the Financial Performance of an Organization" and the main objectives of the work are to develop standards governing financial reporting which allow for ample scope for innovation and evolution as improvements become feasible and to serve users who rely on financial statements as their principal source of information. Following this, some of the raised problems were the conflict of interest among the various users of financial statements if their information needs do not tally and misunderstanding of how transactions are accounted for. In the study of the work, primary and secondary data were sourced for. Also works of other scholars, journals and conference papers were used. The population of the study is 45 and the sample size is 40. The sample size was determined using Yaro Yammane formula. The findings are that there is a significant difference between accounting practice in private sector and public sector. The recommendations are that the organization should follow the same method of accounting information always and this could help in providing a framework in producing financial statement and the use of accounting information should act as a basis for the preparation of financial statements that result in improved decision making of the management.