ENEMS MICROSYSTEMS RESEARCH SPOT: January 07

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Saturday 7 January 2023

ASSESSMENT OF THE EFFECTIVENESS OF ACCOUNTING INFORMATION AS A TOOL FOR MANAGEMENT DECISION

ASSESSMENT OF THE EFFECTIVENESS OF ACCOUNTING INFORMATION AS A TOOL FOR MANAGEMENT DECISION

(A CASE STUDY OF DANGOTE CEMENT COMPANY, OBAJANA)

ABSTRACT

This research work, “Assessment of the Effectiveness of Accounting Information as a Tool for Management Decision (A case study of Dangote Cement Company, Obajana) with the specific objectives to identify the frequency of using accounting information in decision making in Dangote Cement Company, Obajana; to assess the effectiveness of accounting information in long-term strategic decisions in Dangote Cement Company, to identify the problems in generating accounting information in manufacturing organization and to recommend suggestions to overcome the identified problems. The methods of data collection were primary and secondary data method. The data collected were analyzed by use of simple percentages while chi-square was used to test the hypothesis formulated for validity. Findings show that accounting information is an indispensible tool in the management of organization and that accounting information has improved effectively the basic roles of cost minimization, proper allocation of scarce resources and improvement of production, the quality of accounting information is relevant to an organization performance, finally the research shows that accounting information is an effective tool for management decision making. Based on the findings, the researcher concludes that the accountant should put more efforts especially when computing the financial statement since accounts fraud result from ignorant of proper accounting procedures. Since the financial statement are sources of document of accounting information, efforts should be made in generating more relevant, timely, effective and accurate accounting information necessary for management decision making to enhance organization performance and profitability.

CHAPTER ONE: INTRODUCTION

Background to the study

Accounting information is a part and parcel of today’s life which is necessary to understand the accurate financial situation of the organization and used as the basis of making any decisions. Since strategic decisions have long-term effect on the business and therefore it is important to analyze accounting information for making strategic decisions. Accounting information helps managers understanding their tasks more clearly and reducing uncertainty before making their decisions (Chong, 1996). Accounting is sometimes referred to as a means to an end, with the ending being the decision that is helped by the availability of accounting information (Arneld and Hope, 1990). Accounting systems can aid in decision making providing information relevant to the decision and to the decision maker (Gray, 1996).

Effective and efficient accounting information plays a central role in management decision making (Tunji, 2012). Accounting information is one type of information recognized as a ‘learning machine’ that can help to evaluate how objectives might be achieved by quantifying the financial impact of each alternative available to the decision (Burchell et al., 1980).

Accounting and financial information are among the most important information widely used in the managerial decisions (Royaee, 2012). Within contemporary economic conditions, a successful manager needs a lot of reliable accounting information in order to be able to make quality business decisions (Miko, 1998). Economical information especially financial and accounting ones are the information which always managers use in short term and strategic decisions and they may have most application among different variables effective in decision-making and in all types of decisions (Royaee, 2012).

Strategic decisions, when the decision maker aims for long periods of time, allocates all or part of the company’s core assets to achieve that goal; such decisions are usually adopted at top management (Eugenia1 and Tiberiu, 2013). Strategic decisions are among the most distinctive decisions in an organization and these are used for determining the goals and direction for long-term company development. Basically top management is involved in these sorts of decisions.

They decide on company policy, long-term and annual business plans and the organizational structure, i.e. anything that is linked to the future of the company. A wrong strategic decision have far-reaching, negative effects on the company, which in turn places a lot of responsibility on the shoulders of the strategic decision maker (Sikavica, et al.1994).

Accounting Information will be useful when information provided by them is used effectively in decision making process by users (Christiansen 1994). Otley (1980) argues that accounting information are important parts of fabric of organisational life & need to be evaluated in their wider managerial, organisational & environmental information not only depends on the purpose of such system but also depends on contingency factors of each organisation.

Statement of the problem

Information is indispensable for decision making in any business organization. The problem however lies in the quality and validity of the information, that is, if it is timely, adequate, and clear. The major purpose of the use of accounting information is to minimize risk, failure and uncertainties and also stay ahead of competitors. Notwithstanding the immense benefit of use of accounting information, it is generally acknowledged that most unqualified accountants generate inaccurate information and so result in failure of organizations to achieve desired goal. These problems largely contribute to the failure of the use of accounting information in business with the result that inaccurate decisions are made to the detriment of the organization. It is only through accounting information that managers and external users get a picture of the organization as a total entity. Managers who fail to realise this do not appreciate an accountant’s analysis in respect of financial accounting information generated. This may lead to poor decision being taken and it may affect the profitability & performance of the organisation. Some organisation due to low financial layout causes the effect & importance on decision to be taken not to be noticed or gained by the organisation. The researchers in this study will seek to assess the effectiveness of accounting information as a tool for management decision.

Research Questions

The following research questions will guide the researcher towards achieving the objectives of the study:

What is the frequency of using accounting information in decision making in Dangote Cement Company, Obajana?
How effective is accounting information in long-term strategic decisions in Dangote Cement Company?
What are the problems associated in generating accounting information in manufacturing organization?
What are the possible solutions to overcome the identified problems?

Objectives of the study

The main objective of the study is assess the effectiveness of accounting information as a tool for management decision (A Case Study Of Dangote Cement Company, Obajana)

The specific objectives of the study are:

To identify the frequency of using accounting information in decision making in Dangote Cement Company, Obajana.
To assess the effectiveness of accounting information in long-term strategic decisions in Dangote Cement Company
To identify the problems in generating accounting information in manufacturing organization
To recommend suggestions to overcome the identified problems.
1. Statement of Hypotheses

The following hypothesis serves as a guide to study:

H0: Accounting Information is not an effective tool for management decision making

H1: Accounting Information is not an effective tool for management decision making

Significance of the study

Accounting information is very important in the life of any business. It is based on this information that the management will be able to make wise decisions. The accountants present the accounting information in such a way as to assist management in policy and decision making in the day to day operations of the company. The study is very significant because it:

Highlighting the importance of accounting information systems in the Nigeria manufacturing organization and their role in developing administrative efficiency, thus improving organizational performance and profitability.

The result of this study will benefit users of accounting information (internal and external users) and improve their abilities in decision making process, as well as any other groups interested in these organization through using efficient accounting information systems, and provide recommendations that increasing the contribution level for different users to secure achieved precious information to take suitable decisions, through the use of information Accounting systems.

This work will also be of much help to the government in finding out measures to apply in order to curb or reduce the high incidence of losses and risks in the government own agencies and parastals in other to increase the national income and output of the economy.

Finally, this work will be of immense help to students, researchers and scholars as it will open a new area of study for further research and also form a basis for view of related literature.

Scope of the study

This research work will specifically focus attention on the assessment of the effectiveness of accounting information as a tool for management decision. The study will be limited to Dangote Cement Company Obajana.

Limitations of the study

Research of this nature cannot be complete without a experiencing limitations and problems, in the course of this study the researcher experience the following limitations. However, concerted effort is made reduce its effect on the outcome of the study:

Time factor: This was one of the major problems I encountered in the course of the study since the data collected was partly by personal interviews and persons to be interviewed had limited time to attend to me. Also the researcher has to allocate part of her time to class room work one and other activities.

Finance: Another factor that limited the scope of the study was the financial cost which consisted mostly of travelling expenses, cost of materials to be used for the study, cost of inputting the information collected into the computer, cost of diskette, cost of printing the hard copies and binding of the report.

Uncooperative attitude of the Respondents: The respondents were reluctant and fill insecure in the providing necessary information with respect to the research, however the research make necessary arrangement to convince them that the study is solely for academic purpose and that their contribution will be held confidential.

Definition of Terms

Accounting: This means the act of recording, classifying and summarizing in a significant manner and in terms of money, transaction and events which are in part at least of a financial character and interpreting the result thereof.

Information: Data that has been processed to produce meaning relating to a field.

Accounting information: Those processed information relating to accounting.

Management: This is a group in a business who have overall responsibility for achieving the company’s goals

Decision making: This is a process of choosing specific cause of action from among many possible alternatives. Determine ways and means for accomplishing the line of action decided upon is also a part of the decision making process.

Profit centre: This is a segment of a business that is responsible for both its revenue end expenses, providing information for such an entity.

Planning: The use of information supplied by accountants in making decision by which management formulate objectives for future business of the firm

Control and Coordination: A process of ensuring that the cause of actions is maintained and that the desire aims are achieved. This is done through the use of budgets and actual data.

Cost Decision: This is the application of and cost of principles, methods and techniques in the ascertainment of cost and analysis of savings and or excess as compared with the previous experiences or with standard.

Organization: In organization the managers decide how best to put together the organizations human and other resources in other to carry out establishment.

Cost Accounting: This refers to the determination and control of cost.

General Accounting: This is the overall records keeping preparation of financial statements and reports and control at all business activities.

ISOLATION AND CHARACTERIZATION OF BACTERIA AND FUNGI ASSOCIATED WITH FRESH FROZEN FISH

ISOLATION AND CHARACTERIZATION OF BACTERIA AND FUNGI ASSOCIATED WITH FRESH FROZEN FISH

ABSTRACT

Fish and fishery products have been documented as a major source of food borne pathogens of which bacteria and fungi play a major role. The fungal and bacterial organism contaminating apparently health and diseased (Scomber Scombrus) fish in Nasarawa, Nasarawa state was investigated. An invitro Assay was carried out to ascertain and identifies major bacterial and fungal contamination of frozen fish, which hitherto had constituted on important dieting intake of people of Nasarawa Nigeria. Fish samples collected were identified and the microbial load of the sample determined using spread plate method. Differentiation and characterization of various isolates were based on biochemical reactions and gram staining techniques. Frozen mackered fish (Scomber scombrus) was used for the study. The result revealed that staphylococcus aureus, Escherichia Coil, Salmonella Species and Shigella species are the bacteria associated with the contamination of the fish. Aspergillus, species Penicillin, species Rhizopus, species candida and mucor specie are the fungi associated with the contamination of the fish. The average number of colonies were 11, 21 and 45. The colony forming unit of O.5aiquote were 1.1 X i07, 2.1 x 106 and 4.5 x l0 isolation of fungi and Bacteria from Scomber Scombrus Meant for human consumption is alarming which can be source of fish borne infection. Attention should be paid to fish health in the community so as to conserve public health and safeguard the community health.

CHAPTER ONE

1.0 INTRODUCTION

Fish is one of the most important source of animal proteins available in the tropics and has been widely accepted as good source of protein and other elements for maintenance of healthy body (Al-jufalli and Opera, 2006). Fish is regarded as healthier meat due to its high content of long chain polysaturated fatty acids which are associated with improving health and preventing diseases of old age (yagoub & Ahmed, 2009).

The less developed countries capture 50% of the world harvest and a large proportion of the catch are consumed internally. In Nigeria, fish constitute 40% of the animal protein intake. Fish and fish products constitute an important part in the international trade, indicating increasing consumer interest in commodity. Generally, fish are good sources of vitamin B 12 and B6. It is also a good source of fluorine and iodine which are needed for the development of strong teeth and the prevention of goitre in man (youes & Bartram 2007). However, availability of these vital nutrients depends to a large extent on the methods of storage such as salting, roasting, drying, and freezing. Iced fish of different types are of great demands by the Nigerian consumers as a relatively cheaper source of animal protein. Fish and fish products are important, not only from the nutritional point of view but also as an item of international and foreign exchange carrier for a number of countries in the world (Yagoub, 2009).

Fish is a very perishable, high-protein food that typically contains a high level of free amino acids. Microbes rnetabolise these amino acids, producing ammonia, biogenic amines such as putrescine, histamine, cadaverine, organic acids, ketones and sulfur compounds (Emborg et al., 2005; Olatsdottir et al., 2005; Dalgard et al., 2006).

Microbiological quality is of importance to public health as it directly relates to spoilage of fish and becomes the cause of food poisoning. Microbial hazards causing infections and poor health are closely related to food safety concerned with animal proteins derived from marketed food- fish and fish products, meat and meat products. This creates a burning question for all consumers with a high risk commodity with regard to pathogenic bacteria & Fungi contaminations alarming to food safety challenge (Nilla et al., 2012). Refrigeration temperatures are also relevant because they are used by most households in Nigeria for temporary storage of fish (Oramadike et al., 201 0).Frozen state condition is also important since most fishes consumed in Nigeria are imported and usually come in frozen state (Oramadike et al., 2010).The quality of fish degrades due to a complete process in which physical, chemical and microbiological forms of deteriorations are implicated.
Therefore maintenance of quality is of utmost importance in the production and trade of fish and fish products. Although only a few infectious agents in fish are able to infect humans, some exceptions exists that may result in fatalities. However, the greatest risk to human health is due to the consumption of raw or insufficiently processed fish and fish products (Yagoub and Ahmed 2009).

According to the Centre For Food Safety And Applied Nutrition in Washington (2001),most fish related food borne illness are traced to Salmonella, Staphylococciisspp, Escherichia spp, Murcor spp penicillin spp, candida spp. Rhizopus and aspergillus. (Yagoub and Ahmed 2009). Spoilage bacteria differ somewhat for freshwater aid marine fish and for temperate and tropical water fish, storage and processing conditions also affect the predominant species on iced fish under aerobic conditions (Hozbor ci’ al., 2006). Packing under carbon dioxide and low concentration of sodium chloride favors the growth lactic acid bacteria and Photobacterium phosphoreuni. Microorganisms are found mostly on the skin, gills, operculum and intestines of life and newly caught fish. Fish contamination can be linked to raw material, personnel, processing tools such as forklifts through leakage, openings in buildings and pets. Some pathogens may even become established in the processing plants from niches where they can survive for a long period of time. The quality of our fish is of major concern to the food processors, consumers and public health authorities and provisions of safe, wholesome and acceptable fish and fish products to consumers and control of microorganisms is essential to meet these objectives.

The potentials of seafood to harbor microbial athogens and causing subsequent illness is well documented for both developed and developing countries (Younes and Bartram, 2007; Wright et cii., 2004). Water related diseases continue to be one of the major health problems globally (Adebayo et al., 2012). Okonko et al., (2009), reported that both bacteria and fungi are common flora of iced fish and fish related products during packaging. Majority of iced fish are sold in the open markets. Arannilewa et at., (2005) noted that protein decreased with increasing duration of frozen storage with fresh samples not frozen having higher protein content. Disadvantages such as product dehydration, rancidity, drip loss and product bleaching have an overall effect on the quality of frozen food. In spite of some disadvantages associated with frozen storage, freezing is .accepted as the effective way of preserving fish (Arannilewa e tal.,2005). The effect of physical conditions and chemical agents on the growth of microorganisms in fish has been investigated and well documented. In recent time, modern biotechnology have introduced new techniques that detect early fish contamination, improve taste, modify the quality of the fish, prolong the shelf life and also impact disease resistance to the fish Oramadike et a!., 2010).

Majority of the iced fish marketed in Nasarawa state are sold in open markets and so are exposed to dust and contaminated air, encouraging the growth of microorganisms which might facilitate increased transmission and prevalence of pathogens. Moreover poor personal hygiene, such as neglecting to wash hands after handling contaminated materials encourage contamination of iced fish with pathogenic organisms. This study is to assess the Microbial Load of fish sold at Nasarawa market in Nasarawa state. Also to isolate/identify the bacteria & fungi responsible for the contamination of frozen fish retailed at Nasarawa market

Bacteria
Bacteria are group of micro organism all of which lack a distinct nuclear membrane (hence are considered more primitive than animal and plant cells) and most of which have a cell wall of unique composition. Most bacteria are unicellular, the cells may be spherical (cocci) rod-shaped (bacillus) spiral (spirillum) comma-shaped (vibrio) or cork screw shaped (Geirocheate). Generally they range in size between 0.5 and 5nlm.
Fungi
Fungi can be single celled or very complex multicellular organisms. They are found in just about any habitat but most live on the land mainly in soil or plant material rather than in sea or fresh water. A very small number of fungi cause disease in animals

1.1 Statement of Problem

Fish is mostly spoiled by bacteria and fungi microbiological quality is of importance to public health as it directly relates to spoilage of fish and becomes the cause of food poisoning. Microbial hazard causing infection and poor health are closely related to food safety concerned with animal protein delivered from marketed fish and fish product meat and meat product. This creates a burning question for all consumers with a high risk commodity with regards to pathogenic bacteria continuous alarming to food safety challenge. The isolation and characterization of these spoilage organism will go a long way to profer solution no. mater how little to this problem.

1.2 Justification
The study will help in the acquisition of the knowledge of fungi and bacteria associated or involved with the spoilage of fish, factors that enhance spoilage of fish and the risk involved in the consumption of spoiled fish.

1.3 Scope of The Study
The project work is limited to the isolation and characterization of bacteria and fungi associated with fresh fish sold around Nasarawa Local Government. This will help in creasing the health awareness of the public on the damages of eating uncooked or under cooked fish. The project work would have covered the whole of Nasarawa State but it was not possible due to financial and time constraint

1.4 Aim of The Study
To isolate and identify micro-organism associated with contamination of frozen fresh fish

1.5 Objective of The Study
The objective of the study are:

i. To determine the microbial Load of the Fish
ii. To identify the type of bacteria and fungi associated with frozen fish commonly consumed by people in this locality