1.1 BACKGROUND OF THE STUDY
The importance of cost accounting in the affective management of any organization can in no wise be under rate, the absorption becomes a necessity when viewed against the background that other branch of account such as financial accounting, management account have among a my raid of scholarly publication. Infact cost accounting should be indealy juxtaposed with other area of accounting system in order to have on effective accounting system.
The Global soap and detergent industry limited is a member of doing group of company. The factory was incorporated in (1984) as the first indigenous detergent company in Kwara State. The company commenced production in December (1985) their main products as flashing (The family detergent for laundry given you cloth the flashing clean looks) sock power super deal boid and vogue – also are Hi- clear secouring power group soap and Hi – clean bar soap. After two years of production of scouring powder. The company stated using buy product of detergent in 1998 supplications plant was introduced while in 1989 soap plant was incorporated by using water from over head storing plant which are made under hand. They sources their electricity supply for NEPA with assistances of steady generators.
Quality has been the watch of the company since its in option in 1988 their efforts were recognize with award N1.5m quantity certification mark to their detergent key brand.
The net weight of the company product are:-
Flash - 200kg
Washite - 10kg
Washive - 2k & 5kg
Super deal - 200kg
Grand Toilet Soap - 12kg
Clean bar soap - 120kg
The company was formerly commissioned in 1992 by president Ibrahim .B. Babaniga (Rtd) the company has spread all over the country in the following areas, Ilorin, Ibadan, Aba, Jos, Kanu, Sokoto, Maidiguri, Abeokuta, Benin, Onisha, Enugu and Lagos.
1.2 PROBLEM OF THE STUDY
This research study comprehensively discuss the area of in effect of cost Accounting system in manufacturing Industry with emphasis on Global Soap and detergent, Ilorin also finding the effects and importance of cost Account system in relationship with manufacturing accounting.
1.3 AIMS AND OBJECTIVE OF THE STUDY
This research study is aimed at achieving full objective nigh light the impact f cost accounting in the effects management of manufacturing industry in a developing economy to determine extent to which costing information are relevant and it is benefit to the management of the economy.
Further more to examine the genine problem of cost account confronted in manufacturing industry and outline iof the solution to them. However it is hope that the result of this study after completing would be useful in explaining. The role of cost accounting in the effect management of manufacturing industry in a developing economy to determine extent to which costing information are relevant and it is benefit to the management of the economy.
1.4 SCOPE OF THE STUDY
Basically the study would therefore focus its attention on experience of a selected manufacturing industries in developing economy.
1.5 ORGANISATION AND PLAN OF THE STUDY
Basically with a view of systematic presentation and analysis of the research study the project is broadly written and contain five chapters.
Chapter one of this project contain introduction background of the study, aims methodology, source of data, organization and plan of the study. Chapter two for the purpose of this project work focused on the literature review of the study and brief explanation of the topic chapter three of this research work contain the research methodology (principle) chapter four is largely developed and comprise the Data presentation analysis and analysis of data, such as problem prospects of cost accounting in Global Soap and detergent industry.
The last chapter gives the summary of the project work and also gives the conclusion and recommendation and Bibliography of the research work.
1.6 SIGNIFICANCE OF THE STUDY
It is good for any organization to embark on cost accounting in a manufacturing industry. It is imperative of this organization to provide system of cost account in an effect manner. The research work will highlight the significance of the cost accounting the research will help:-To measure profit in relation to accounting period
To provide information for management control of cost
To provide information for management control of sales
To provide information for management control of stock
To provide information for planning and decision making