CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The concept of profitability can be defined as that concept which provides the management with alternative courses of action according to the various degree of profitability stating clearly in relevant cost accounting from the cost and benefits associated with individuals projects which enables management to select the most profitable.

Most of the policy decisions of manufacturing industries are generally directed towards profitability. Policy decision under this concept has a direct effect of increasing and enhancing the general profitability of the manufacturing industries   concerned.

The origin of this concept can be traced back to the era of industrial revolution. Pride to this era, industries was run as a family concerned just to maintain a states quo.

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