Relevance Of Accounting Information For Effective Financial Decisions In Corporate Organizations (A Study Of First Bank Of Nigeria Plc)

ABSTRACT

The study was carried out to examine the relevance of accounting information for effective financial decisions in corporate organizations (A study of First Bank Nig Plc,). The main objectives were to evaluate the relationship between accounting information and effective financial decision making and to determine the effect of accounting information on effective financial decision making. Primary data was collected using questionnaire distributed to the staff of First Bank Nig Plc in Umuahia metropolis and were analyzed using the correlation coefficient and simple and multiple regression analysis using the Ordinary Least Squares (OLS) method. The result shows that improper recording, improper documentation, bad management, corruption, have negative and significant effect on effective use of accounting information of an organization. Also there is positive relationship between accounting information and financial decision making in an organization. Equally, the simple regression result show that managerial neglect of accounting information has a significant effect on the achievement of organization goals. It was recommended that management of First Bank Nigeria P/c to adopt a systematic approach which will not only reduce fraud in banking sector but will assist the bank in the growth of their yearly profit since corruption has negative effect on effective use of accounting information of an organization.