The Application of Cost Accounting to Management Planning Control and Decision Making (A Case Study of Oxfam-Erbil)
Abstract
Student Name: Ali Sirwan Abubakir
The purpose of this study is to investigate the Application of Cost Accounting to Management Planning, Control and Decision Making. The study was domiciled in Erbil and guided by three objectives: To evaluate the application of cost accounting in management planning and control, to identify how cost accounting affects decision making in an organization, and to identify challenges faced when applying cost accounting techniques in organizational management and planning. The study employed a quantitative research design and a questionnaire was used as the primary instrument for collecting data. The target population for the study were professionals in the accounting field and senior staff members involved in management, planning and control at higher levels of an organization. Convenient sampling was used to sample select the participants. Quantitative data was collected from 105 participants. SPSS was used to analyze data. Other than descriptive analysis, the researcher performed correlation and reliability analysis. Study concluded that cost accounting has various applications in management, planning and control which include allocation of scarce resources to business segments that are deemed appropriate, understanding the performance and the overall position of the enterprise, making informed decisions that enhances the overall performance of the enterprise. Study recommends that professionals are supposed to undergo refresher causes so that they can update their skills in cost accounting
