FINANCIAL INFORMATION AS A MEANS FOR MANAGEMENT DECISION MAKING
ABSTRACT
The research is an appraisal of financial information as a tool for management decision making. It provides a conceptual and analytical framework of financial information and its role in management decision making. Champions Breweries, Uyo was selected as the case study for the purpose of this research.
CHAPTER ONE
Introduction
1.1 Background of the Study
One of important assumptions in decision making process and improvement economy is existence of quality information. Significant number of this information comes from financial information systems and from financial statements. Financial statements have to provide realistic and objective picture of realistic business condition of certain company. In other words, auditing of financial statements is understandable, by which accuracy is ensured. In context of consideration of financial statements as a function of decision making it is important to emphasize that different users must know how to “read” those statements. “Reading” contents of financial statements provide whole number of different instruments and analyses procedures for understanding business.
A well-established process of management on the basis of the financial statements and financial information is one of the most significant presumptions of the quality business. Decision making process requires information – financial and non-financial information as well. The most important financial information needed in the process of business decision comes from financial.
Therefore, we can say that financial is a service function to management. It, basically, processes or gathers and studies “raw data” and converts them into suitable information in the process of decision making. The basic characteristics of the financial are:
- Gathering, processing and presenting financial (financial) information
- Information considering company’s business
- Those directed towards different interested users
Significant number of this information comes from financial information systems and from financial statements. Financial statements have to provide realistic and objective picture of realistic business condition of certain company. In other words, auditing of financial statements is understandable, by which accuracy is ensured. In context of consideration of financial statements as a function of decision making it is important to emphasize that different users must know how to “read” those statements. “Reading” contents of financial statements provide whole number of different instruments and analyses procedures for understanding business. A well-established process of management on the basis of the financial statements and financial information is one of the most significant presumptions of the quality business. In order to improve the usage of financial information in the context of the decision-making process, we need to analyze financial statements. In that context, we can describe financial statement analysis as the process where we convert data from financial statements into usable information for business quality measurement by different analytical techniques, which is very important in the process of rational management.
Therefore, to know the current level of business quality is very significant in the context of future business management, since we try to ensure company’s development and existence on the market. Financial statement analysis comes before the management process that is before the process of planning which is the component of the management process. Planning is very important for good management. Good financial plan has to consider all company’s strength and weaknesses.
The task of financial statement analysis is to recognize good characteristics of the company so that we could use the most of those advantages, but also to recognize company’s weaknesses in order to take corrective actions. Because of that, we can say that management of the company is the most significant user of financial statement analysis. The research intends to investigate financial information as a tool for management decision making with a case study of Champions Breweries, Uyo.
1.2 Statement of the Problem
The problem confronting this research is to investigate financial information as a tool for management decision making.
1.3 Objective of the Study
- To appraise the nature of financial information
- To determine the nature of management decision making
- To determine the role of financial information in management decision making in Champions Breweries, Uyo.
1.4 Significance of the Study
- The study shall analyze the nature and source of financial information.
- The study shall provide a framework for the use of financial information in management decision making.
- The study shall appraise the role of financial information in management decision making in Champions Breweries, Uyo as a case appraisal.
1.5 Statement of Hypotheses
- H0: Financial information is not significant in Champions Breweries, Uyo.
Ha: Financial information is significant in Champions Breweries, Uyo. - H0: The level of financial information in Champions Breweries, Uyo is low.
Ha: The level of financial information in Champions Breweries, Uyo is high. - H0: The impact of financial information in management decision in Champions Breweries, Uyo is low.
Ha: The impact of financial information in management decision in Champions Breweries, Uyo is high.
1.6 Scope of the Study
The study investigates financial information as a tool for management decision making with a case study of Champions Breweries, Uyo.
1.7 Organization of Study
The study is divided into five chapters. Chapter one deals with the study’s introduction and gives a background to the study. Chapter two reviews related and relevant literature. The chapter three gives the research methodology while the chapter four gives the study’s analysis and interpretation of data. The study concludes with chapter five which deals on the summary, conclusion and recommendation.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 1.1 Background of the study
- 1.2 Problem statement
- 1.3 Purpose of the study
- 1.4 Significance of the study
- 1.5 Study hypotheses
- 1.6 Scope and Limitations of the Study
- 1.7 Organization of Study
Review Of Related And Relevant Literature
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- 2.4 Empirical Studies
Research Methodology
- 3.0 Introduction
- 3.1 Research Design
- 3.2 Sources of data collection
- 3.3 Determination of Population
- 3.4 Determination of sample size
- 3.5 Instrumentation
- 3.6 Instrument Validation
- 3.7 Adopted Method of Analysis
Data Presentation, Analysis And Interpretation
- 4.1 Introduction
- 4.2 Data Presentation
- 4.3 Data analysis
- 4.4 Data Interpretation
Conclusion, Summary, Recommendation
- 5.1 Introduction
- 5.2 Conclusion and Findings
- 5.3 Summary of the Study
- 5.4 Recommendation
- BIBLIOGRAPHY
Disclaimer for Complete Material Utilization
The displayed research work titled "Financial Information as a Means for Management Decision Making" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 1.1 Background of the study
- 1.2 Problem statement
- 1.3 Purpose of the study
- 1.4 Significance of the study
- 1.5 Study hypotheses
- 1.6 Scope and Limitations of the Study
- 1.7 Organization of Study
Review Of Related And Relevant Literature
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- 2.4 Empirical Studies
Research Methodology
- 3.0 Introduction
- 3.1 Research Design
- 3.2 Sources of data collection
- 3.3 Determination of Population
- 3.4 Determination of sample size
- 3.5 Instrumentation
- 3.6 Instrument Validation
- 3.7 Adopted Method of Analysis
Data Presentation, Analysis And Interpretation
- 4.1 Introduction
- 4.2 Data Presentation
- 4.3 Data analysis
- 4.4 Data Interpretation
Conclusion, Summary, Recommendation
- 5.1 Introduction
- 5.2 Conclusion and Findings
- 5.3 Summary of the Study
- 5.4 Recommendation
- BIBLIOGRAPHY
Disclaimer for Complete Material Utilization
The displayed research work titled "Financial Information as a Means for Management Decision Making" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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