Download the complete accounting project topic and material (chapter 1-5) titled COST CONTROL AND COST REDUCTION AS A MEANS OF IMPROVING PROFITABILITY IN A BUSINESS ORGANIZATION. See below for the abstract, table of contents, list of figures, list of tables, list of appendices, list of abbreviations and chapter one. Click the DOWNLOAD NOW button to get the complete project work instantly.
The Project File Details
TABLE OF CONTENTS
PRESENTATION AND DATA ANALYSIS
Summary, Recommendation and conclusion
The success that any producer may record in selling his goods or services profitably is likely to depend upon his ability to control his cost and upon the extent to which he can keep them below the selling price imposed upon him by competition.
Therefore, cost control can simply be defined as the regulation, limitation or confinement of cost.and it can also be defined as the regulation by management action of the cost of operating an undertaking ,particularly where such action is guided by cost accounting.
It covers the control of materials usage and prices of wages cost separating the effect of efficiency from rates of pay, or maintenance and service cost, and all other items of indirect expenditures.
In an organization it is an act of making necessary adjustments after comparing the actual cost with a standard or targeted cost the control process include the steps of establishing standards and taking corrective measure.
Studies dealing with potential cost control and various adjustments to which may results in cost control are therefore very essential for improving the efficiency with which the conduct of any business is performed, such a resultant improvement can be of immence benefit to both the marketers and the altimate consumers of the products of the business.
Effective cost control consists of two aspects they are operational cost control consists which has to do with type of control,which exist in the very small firms where the sole owner could personally control cost through personal observation and direct supervision of operation.Accounting cost control on the other hand involves creating a sound system records keeping which will establish accountability for cost and the employment of current, pertinent and concrete accounting and statistical reports to reveal how people who are responsible for cost are discharging their responsibilities.
1.1 STATEMENT OF PROBLEM
This project is set out to examine the problem of the existing small scale industries, a case study of Okin Biscuits Limited Offa, Kwara state.
Smalls scale industries have common problems nationwide, but some of the major one that is being faced by Okin biscuit limited Offa will be discuss in this research.
Problem of marketing their problem products is one of the problems facing the organization. Because there are some other industries with the same products but better marketing strategies are been put in placed.
Lack of capital and low sales is another problem that is facing the organization.
Another problem is inadequate trained manpower since one of the major aims of a privately owned industries is to maximize profit, they find it difficult to engage in sufficient and adequate trained personnel. They tend to manage the few at hand, hence there is insufficient technical advice as there are inadequate technical training facilities for staff and these could lead to poor quality products in some cases.
1.3 SIGNIFICANT OF THE STUDY
1.4 SCOPE OF THE STUDY
The study will focus on cost control and cost reduction techniques that is being used by the management to improve the level of profit with particular reference to Okin biscuits limited, offa.
1.5 RESEARCH METHODOLOGY
The method used in the research work is based on primary source which cannot of both the oral interview and questionnaire.
1.6 DEFINITION OF TERMS
The following terms are defined so as to bring out their meanings and to distinguish them from the ordinary usage.
by the function in the level of activity.
1.7 PANS AND ORGANIZATION OF THE STUDY
This project work comprises of five (5) chapters; chapter one of the projects deals with the introduction of the study which comprises of the following:
Chapter three highlights the research methodology which consists of introduction, population of the study, sampling sign and size, sources of data, data collection instruments, method of data analysis and profile of case study.
Chapter four discuss the presentation of the results, which consist of capitalization, cost control techniques area where cost reduction are concerned, sources and causes area where cost reduction are concerned, sources and causes of unnecessary cost, wastes and deposition.Action taken to reduce waste, cost reduction techniques,effect of cost control and reduction and lastly programmes on the activities of the case study.
Finally chapter five throw light on the findings, summary, conclusion and recommendation.
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