ABSTRACT
This study explored the management accounting practices among
manufacturing firms in the Kumasi Metropolis and examined the impact of its
adoption on firm performance. The benefits firms derive from implementing
management accounting practices, factors that affected the extent of use of
management accounting practices and the relationship between the use of
management accounting practices and firm performance are discussed in the
study. A questionnaire was administered to 150 manufacturing firms in the
Kumasi metropolis which elicited 105 useable responses.
The results show that costing system, budgetary system, performance
evaluation system and strategic management accounting are the key
management accounting practices adopted by manufacturing firms within
Kumasi metropolis. Also, the key benefits associated with management
accounting practices of manufacturing firms in Kumasi can be seen from the
following areas: planning the future strategies, tactics and operations,
controlling current activities, measuring and evaluating performance,
optimizing the use of firm’s resources, reducing subjectivity in the decision
making process and improving internal and external communication.
It is evident that key determinants of the extent of adoption of management
accounting practices include market competition, characteristics of the
accounting staff, owner/manager participation and changes in technology.
Overall performance of selected manufacturing firms in Kumasi metropolis is
relatively high. It is therefore recommended that management accounting
practices in the manufacturing firms in Kumasi should be strengthened to
enhance performance.
AMENYO, F (2021). MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS. Afribary. Retrieved from https://track.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis
AMENYO, FRANCISCA "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS" Afribary. Afribary, 02 Apr. 2021, https://track.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis. Accessed 24 Nov. 2024.
AMENYO, FRANCISCA . "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS". Afribary, Afribary, 02 Apr. 2021. Web. 24 Nov. 2024. < https://track.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis >.
AMENYO, FRANCISCA . "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS" Afribary (2021). Accessed November 24, 2024. https://track.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis