TABLE
OF CONTENTS
Certification i
Dedication ii
Acknowledgement iii
Table
of Content v
CHAPTER ONE
1.1
Introduction 1
1.2
Statement of the Problem 2
1.3
Historical Background of the Study 3
1.4
Research Questions 5
1.5
Objectives of the Study 6
1.6
Research Hypothesis 6
1.7
Significance of the Study 7
1.8
Scope of the Study 8
1.9
Definition of Terms 8
1.10
Plan of the Study 10
CHAPTER TWO
LITERATURE REVIEW
2.1
Meaning of Cost Control 12
2.2
Cost Control Techniques 15
2.2.1
Cost Planning 15
2.2.2
Cost Reduction 17
2.2.3
Budget and Budgetary Control 20
2.3
Effect of Cost Control 21
2.3.1
Direct Cost Control 22
2.3.2
Overhead Cost Control 24
2.4
Conclusion 25
CHAPTER THREE
3.1
Research Methodology 26
3.2
Sources of Data 26
3.3
Population of the Study 27
3.4
Sampling Method 28
3.5
Method of Data Convention 28
CHAPTER FOUR
Data
Presentation and Analysis
4.1
Data presentation 29
4.2
Data Analysis According to Test of
Hypothesis 39
4.3
Interpretation 42
CHAPTER FIVE
Summary of Findings, Conclusion of
Recommendation
5.1
Summary of findings 43
5.2
Conclusion 45
5.3
Recommendations 46
References
48
CHAPTER ONE
1.1 INTRODUCTION
This industry developed in Nigeria and West
Africa starts as a result of necessities by the colonial masters to process
agricultural products obtained in their various territory.
Most of the industries were agro-based
and inter minerals resource. Other industries later spring up as a result of
one or the other, with the introduction or the co-operation from the
organization are directed towards minimizing cost to attain maximum profit.
Therefore, control is not possible
without planning and planning without a complementary control system is
pointless.
Cost control is concerned with watching
the performance of an organization and the control process include the steps of
establishing standards and taking measures that such standards are formed with.
Cost control is very essential for
improving the efficiency with which to conduct an organization to maximize
profit such resultant improvement can be at immense benefit to the consumers
who enjoy lower price, shareholders who earn higher returns, employee receive
higher wages and government collect more taxes.
1.2 STATEMENT OF THE PROBLEM
Statement and recruitment is a step on
management development, which help fundamentally to find and attract potential
employees who it successful, eventually full vacant positions.
In management, professionalism developed
states of selection and recruitments
which employees in conjunction with other tools of personnel and maintenance of
efficient work force and indeed the utilization and the conservation human
resources.
Infact a firm working like abundant
evidence clearly prove that these tests, all things being equal are creditable
predictions of employees job performance.
However, the Nigeria societal
immortality and political influence have
created discrepancies in selection procedures through such vies as favoritism
and nepotism. These are problems arising from vague description of job by these
personnel management, because of these problems, the need for a close up
examination of the whole selection process or labour turn-over in Nigeria
bottling company plc, become inevitable.
1.3 HISTORICAL BACKGROUND OF THE NIGERIA BOTTLING
COMPANY
The Nigeria bottling company limited,
the authority companies making up the group of companies. The A.G leventies
group of companies has immensely contributed to the socio economic development
of Nigeria. It’s headquarters is at Iddo, lagos states. The history of
coca-cola company limited can be traced briefly to the history of coca –cola
company of the united states of America (U.S.A) which is very old organization.
Coca-cola as a drink was first brewed
and sold at soda fountain in Atlanta Georgia, USA in 1904.
In 1806, coca-cola was first made by Dr.
John stylla periberton, a pharmacist and the name coca-cola was given by frank
M. Rohmson who was Dr peribetor’s partner and book keeper. He also designed the
flowing script that distinguishes the famous trade mark. The drink was made
know to people through Dr, Perabeton advertising and marketing activities.
According to history, coca-cola first
came to Nigeria 1953 when Nigeria bottling company set up its first plant in
lagos, precisely at oyingbo but later move to apapa.
It was to be the beginning of the
existing story of growth and development to the company’s establishment.
1.4 RESEARCH QUESTIONS
In order to get information from
respondents, the following question were formulated..
1. What are the various types of
cost-control and the extent of cost-control in a business organization?
2. In what extent can cost-control
improve or enhance business organization?
3. What are the roles of cost-control in
a business organization?
4. What
constitute the cost – control and profitability?
5. What
are the impacts of cost – control in the profitability of a business
organization?
1.5 OBJECTIVES OF THE
STUDY
The objectives of the study for this
research work are as follows:
1. To examine the various types of
cost-control and also the extent of cost control in a business organization.
2.
To know how cost-control has been an improve to business organization.
3.
To discuss the roles of cost –control in a business organization.
4.
To examine cost –control and profitability
5.
To expatiate the impact of effective cost –control in the profitability
of a business organization.
1.6 RESEARCH HYPOTHESIS
One of the characteristics of this study
is to enumerate some fundamental hypothesis statement revolving round the
problem of the study. Therefore, some hypothesis has been formulated to make
clarification of the problem in effect of cost-control for this reason, the
following question are tested.
1. Does cost –control have any effect on
the profitability of a business organization?.
2. Does cost-control have any effect on
business organization?
The general hypothesis that will be
tested in the cause of the research is as follows:
HO:
Effective in cost –control will not be positive impaction on business
organization
HI:
Effective in cost –control will have positive impaction on business
organization
1.7 SIGNIFICANCE OF THE STUDY
One of the important of the study will
be to extend the knowledge on the modes of operation to extend the knowledge on
the modes of operation of production companies in Nigeria with emphasis on
cost- control in Nigeria bottling company plc. The relationship between its
function and mode of operation. This will suggest remedies to problems
militating against Nigeria bottling company plc, Ilorin planton cost-control
activities.
1.8 SCOPE OF THE STUDY
The scope of this research work will be
focused on cost-control and cost reduction of the Nigeria bottling company plc,
Ilorin plant in the area of production process to maximize the profit of the
company from the year 1990 till date
The limitation of this research work may
be limited by sufficient finance, lack of enough time and un-cooperative
attitude of staff.
1.9 DEFINITION OF KEY TERMS
1.
COST: this is the price paid or amount
of money needed for something.
2.
CONTROL: this means management
restriction and regulation of something to achieve a standard set up.
3.
BUDGET: a financial or quantitative
statement prepared and approved. Prior to a defined period of time as regards
the policy to be pursued during that period, could be income or expenditure.
4.
COST CONTROL: this refers to the
guidance and regulation of operating cost by management action. It is also
refers to as limitation or contiments of cost.
5.
BUDGET CONTROL: this is the
establishment of budget relating the responsibility or the executive to the
requirement of the budget or policy and the periodic review or comparison of
the actual result with the budget performance, their to secure an approval for
individual action or as to remedial course of action
6.
COST ACCOUNTING: these used accounting
procedures to classify and record expenditure so as to allow accumulation of
cost information in order to be able to measure managerial efficiency.
1.10 PLAN OF THE STUDY
As mentioned earlier, the study will
focus on the effect of cost control in the profitability of a business
organization.
Chapter one of the study contains introduction, statement of the problem,
research questions, objectives of the study, research hypothesis, significance
of the study, scope of the study and definition of key terms
Chapter two of the study deals with a
literature review of the study where the theoretical aspects such as the
historical elevation of cost control meaning, cost –control techniques, cost
planning, cost production, budget and budgetary control, the effects of the
cost control in a business organization direct control and over tread cost
control.
Chapter three of this research work
deals with the exposition of historical background of the study and methodology
which deals with the methods and sources of data collection and analysis.
Chapter four of the study consists of
the data presentation and data analysis
Chapter five contains the summary of the
findings and the case study, recommendations and conclusion of the researcher
on the topic. The list of contracted materials and text book with their various
author are also stated, therein like the bibliography reference.
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