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STRATEGIC COST MANAGEMENT AND ACCURACY OF COST INFORMATION IN SELECTED MANUFACTURING FIRMS IN LAGOS AND OGUN STATES, NIGERIA

Ezekiel Adigbole
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Ezekiel Adigbole: University of Ilorin, Postal: Department of Accounting, Ilorin, Nigeria

International Journal of Accounting and Finance (IJAF), 2019, vol. 08, issue 1, 129-151

Abstract: The use of distorted cost information in manufacturing firms in Nigeria is affecting their survival because they are unable to manage their costs effectively. New costing strategies are required to be used forachieving undistorted cost information. Hence, the objectives ofthis studywere to: assess the effect ofActivity-Based Management (ABM) on accuracy ofcost information; evaluate the influence of life cycle costing (LCC) on accuracy of cost information; and examine the impact of Target Costing (TC) on accuracy of cost information. Survey research design was employed. The population of the study consisted of three hundred and eighty - five respondents in seventy - seven listed manufacturing firms in Lagos and Ogun States. The sample of the study consisted of three hundred and twenty- five respondents in sixty - five randomly selected manufacturing firms. Primary data used were collected through questionnaire administration. Data analysis was done using Partial Least Squares Structural Equation Modeling (PLS -SEM). The study found that: ABM has positive effect on accuracy of cost information (β = 0.493, p 0.10); and TC has positive impact on accuracy of cost information (β = 0.272, p

Keywords: Strategic cost management; Accuracy of cost information; Activity based management; Life cycle costing; Target costing. (search for similar items in EconPapers)
Date: 2019
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