Title Page i

Certification ii

Dedication iii

Acknowledgement iv

Table of Contents vi


1.1 Introduction 1

1.2 The Statement of the Problem 3

1.3 The Objective of the Study 3

1.4 Significance of the Study 4

1.5 Methodology of the Study 4

1.6 Scope and Limitation 4

1.7 Plan of the Study 5


2.1 Literature Review 7

2.2 Management Accounting 7

2.3 Type of Accounting 8

2.4 Nature of Manufacturing Concern 12

2.5 Production Control 13

2.6 Material Costing 14

2.7 Labour Costing 17

2.8 Overhead Costing 25

2.9Cost Reduction Scheme26

2.10 Value Analysis 28

2.11 Management  Accounting Behaviours 29

2.12 Difference between Management Accounting and Financial Accounting. 31

2.13 Full cost Management Accounting 33

2.14 Differential Management Accounting 34

2.15 Responsibility Management Accounting 35


3.1 Brief History of Guinness Plc 37

3.2 Type of Management Accounting                                        Information and their Uses 38

3.3 Research and Methodology 40

3.4 Population Sample Plan 40

3.5 Data Collection 41

3.6 Primary Collection 41

3.7 Secondary Collection 41

3.8 Conduct of Field Work 41


4.1 Data Analysis 44

4.2 Hypothesis 51


5.1 Summary 54

5.2 Recommendation 54

5.3 Conclusion 55

References 56

Bibliography 57

Questionnaire 58



Management Accounting is the application of professional knowledge and skill in the preparation and presentation of accounting information, in such a way as to assist management in the formulation of policies and in the planning and control of the operation of the undertaking. 

Cost accounting is the application of accounting and costing principles, methods and techniques in the ascertainment of cost and the analysis of saving and /or excesses as compared with previous experience or with standards. It is this link i.e., the subject matter of this project. Costing and costing method supply the basis of factual information on which the management accountant can built up his presentation of planning and control. In this project, I will first look into the following cost items:

a) Expenditure on material, wages, and overhead is recorded, classified and allocated so that the cost of product may be accurately ascertained.

b) This cost may be related to sales values.

c) Profitability may be determined.

The accounting system collates and coordinates all the activities of the organization that is the total cost incurred, by adding the cost incurred in factory floor or overhead cost from other section of the organization used in pre-determined rate. The industry operates through branches or product unit as they are better known, with such products unit reporting to the head quarters.

The aims of any business enterprises (Sole proprietor, partnership or limited liability company) is to maximize profit minimize costs. Thus, project is specialized in the area of management account information as an inevitable instrument for effective and efficient running of an enterprise in our society.

Guinness Nigeria Plc is a manufacturing company, manufacturing in any form affect to a great extent the life of many people. In a country like Nigeria, majority of her economy activities is comprises by enterprises and mostly manufacturing enterprises. 

Apart from its contribution to the country’s Gross National Product (GNP), it plays a very important role in the life of the people of Nigeria. The brewery industry has in employment over a million workers and is formally committed to the training and development of many Nigerians. 

There are many other groups of people that are indirectly employed by the brewery industry; these are service industries which supports the brewery industry. There are transporters who convey the beer products from the factory to the depots which are strategically situated in all part of the country.  It is from these depots that the sales men sell the beer product to their distributors who in turn supply the retailers who sell to the consumers. 


The problem of this research work is how to understand the role of management accountants in manufacturing industries.

The function goes like this:                 

⦁ Keeping and maintaining an efficient management accounting system.

⦁ Controlling of organization structure in such a way as achieve the desired profit.


The main objective of my study is to determine the appropriate or otherwise of the management accounting procedures undertaken by Guinness Nigeria Plc.

To be able to form an opinion on this issue, I will critically examine financial accounting reports, the cost control system i.e. accounting for fixed costs, and  absorption cost i.e. wages/salary, factory retail/item of machinery, general administration cost e.t.c. upon the critical examination of these records this research work will point area of weakness. If they exist and recommend probable alternative which in my opinion will enhance the company effective internal control and promote maximum efficiency.

Another objectives of my study is to determine the role of the management accounting as tools for management decision and policy formulation i.e. production policy one-off decision taking and relevance of variance analysis as a tool for future production.


This study is to ensure effectiveness and efficiency of the manufacturing industries. On the completion of this project, I have contributed to knowledge through:

i. Justification or otherwise of my hypothesis 

ii. Credibility of management accounting as a tool for management decision making.

iii. Foundation for future study of the topic.


My study on this issue is limited to the head office of Guinness Nigeria Plc, Ikeja brewery and the Ogba brewery.

These two have been carefully selected because they are brewerying of both Stout and Harp larger beer are undertaken there.

Data used for this project were collected through two sources primary and secondary sources. Primary sources involve questionnaires and personal interview with responsible officers. The secondary sources involve company journals, factory publications and manuals as well as past projects.


The role of management accountant can not be eliminated in any business organization. Management plays a vital role in decision making, planning and control of all business ranging from soles proprietor business to partnership and also joint companies.

In this study, I limited my area of coverage to manufacturing company due to the under listed hindrances;

i. Financial difficulties 

ii. Time factor problem 

iii. Geographical location; and 

iv. Other academic works.       


This project work comprises of five chapters; chapter one of the project work deals mainly with the introduction of the study, which comprises of background of management accounting in manufacturing company, the aims and objectives of the study, scope and limitations of the study, the statement of  the problem of research  and also plan of the study. Chapter two of this project also deals with the review of past literatures where various author who had contributed to the topic: “the role of management accounting in manufacturing industries” was consulted. Also, terms of management, nature of management accountants, types of management accountants, production control, material costing, Labour costing, overhead costing  and cost reduction. Scheme, value analysis and management accounting and financial accounting, full cost management accounting, differential management accounting and responsibility management accounting.

Chapter three of this project deals with the brief history of Guinness plc, type of information and their uses of management accounting, research methodology, population sample plan, data collection, primary and secondary data and conduct of field work. 

Chapter of this project deals with data analysis and hypothesis of the study. Chapter five of this project deals with summary, recommendations of final conclusion and bibliography.     



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