Title page 




Table of contents 

CHAPTER ONE: Introduction

1.1 Background of the study 

1.2 Statement of research problems 

1.3 Objective of the study

1.4 Significance of the study

1.5 Research question 

1.6 Scope of the study

1.7 Limitations of the study 

1.8 Study plan 

1.9 Definition of key terms

CHAPTER TWO:  Literature Review 

2.1 Introduction 

2.2 Decision making in management 

2.3 Cost – volume – profit (break – even) analysis model

2.4 Limitations of the model 

2.5 Decision under certainty, uncertainty and risk 

2.6 Role of decision model


CHAPTER THREE Research Methodology 

3.1 Historical profile of the case study 

3.2 Research hypothesis 

3.3 Method of data collection 

3.4 Population and sample size

3.5 Sample techniques 


Data presentation and analysis 

4.1 Discussion of the analysis 

4.2 Hypothesis testing 

4.3 Discussion of finding 


Summary, Conclusion and Recommendation 

5.1 Summary

5.2 Conclusion 

5.3 Recommendations 

Bibliography or Reference 




  The accounting system is the major quantitative information acquired in almost every organisation and it therefore provide information for three broad purposes namely: internal reporting to managers for use, in planning and controlling routine operation and non-routine operations. Formulation of major plans and policies and finally external reporting to stockholder, government, debenture holder and other outsides parties.

Manager depends largely on quality and quantity of data received. Thus, information flows on the management information system influence the effectiveness of decision – making.

According to “HORNGEN” the question of what accounting system to business most focus on how decision and consequent benefits are going to be affected. One must ask what decision will result from accounting data and what outcome will ensure from decision making.

Accountants continually work with accounting system and financial reports, which are financial model of company operations. Models are useful because they provide a conceptual representation of realities, enabling the decision maker to anticipate and measure the effect of alternative actions.

Decision- making is choosing among alternatives, it occurs as managers perform their planning and controlling function. A decision model is one, which, in effect performed by management planning and controlling function, but only extent that management delegates, when the model was constructed and implemented.

In most organisation, the accountant is the quantitative expert, and to retain and improve his status, the accountant should be aware of the mathematical models may improve planning and control. And also strength and weakness, when comparing and evaluating the quantitative sources of decision recommendation, as the accountant is usually a member of the top management team in these organisation.

According to “Thieraof” generally a model is defined as a representation of an actual object or situation. A formal decision model measures the predicted effect of alternative actions.

However, it is pertinent to note that according to the report of the committee on management decision models, a mathematical decision model may indicate a choice which is rejected by management because of more dominant legal, sociological, psychological, political and other consideration not include in the specific. In such instances, the output of the mathematical model is only one input into a more completed decision model, which includes qualitative as well as quantitative dimension.


Industries over the years glad seen cost accounting model as a tools for managerial decision making which results to modern accounting system that have been effective and efficient.   

Since cost accounting has been described as the tools that facilitates the measures which predict the effects of attentive actions and yet, the management has not base their decisions making on the effects predicted over the alternative action.

Secondly qualified cost accountant has not been fully employed for them to show their skills in the field and this has led to bad effects in the running of the industry.

Moreso, the researchers also discourage the up-coming cost accountant by collating, analysizing and distributing wrong data to them thereby disqualifying them from gaining employment in regards to this field.


Though there are other various sources of information for management decision-making, cost accounting models in particular and ensure cost control.    

Cost accounting renders useful information to decision making for proper planning evaluation and control. Some of the information rendered comprises:- forcasting of product costs of an order, budget preparation, determination of standard cost and analysis of variances, budget preparation, determination of standard cost and for proper cost identification. The major objectives of cost accounting includes:

⦁ Cost classification and codification

⦁ Implementing cost control and cost reduction programme in such a way as obtain efficiency of operation.

⦁ Determination of product price

⦁ Determination of breakeven point, cost – volume profit relationship, marginal cost etc.

⦁ Ascertainment of closing stock 

⦁ Disclosure of profitability for each product or for each segment.

⦁ Assisting managerial personnel in decision making process.

⦁ Cost classification and codification for the purpose of easy identification.

1.4 significance of the study

Any decision maker should have at his disposal, the best qualitative and quantitative tools which are available, so that he may establish a frame of reference for the decisions. Past literature on the research have been too general without giving special consideration to the bottling company and in fact, have been too theoretical.

This research is therefore intended for use by managers and accountancy especially in the bottling industry in implementation of decision – making task in a more efficient manner and also to serve as a pointer to anther research on the topic.


The word research has been defined as an investigation into problem with a view of finding out facts on the areas of study. The area under research is “cost accounting model as a tool for managerial decision – making”.    

Models in general are beginning to gain recognition in modern time as major source of information.

According to the report of the committee on managerial decision model. “The judicious use of decision model supplements institution and implicit guides with explicit assumptions and criteria if the decision can be depicted by a mathematical model and if the models builder, captures within his models is like to lead to decision that are more consistent with a firm’s objective”.

The main purpose of this study therefore is to relate the theoretical aspect of the study with the practical aspect that is matched as closely as possible. The model within the actual operation in the bottling industry. Suing the Nigerian Bottling Company Plc as a case study and putting into model, all those cost factors that are important as far as the choice of policy is concerned, leaving out all the irrelevant factors that contribute litter or nothing to total picture under research is “cost accounting model as a tool for managerial decision – making”.

In a research work like this, it is normal to collect statistical data and information relevant to the study in order to makes the research more reliable. It is also a fact that success in a research work of every nature largely depends on how extensive the scope of coverage is spread and position of sources of information.

1.6 scope of the study 

The cope of the research is to concentrate on the Nigeria Bottling Company Plc, Ilorin and their operational effect on manufacturing company in Nigeria.

Furthermore, its covered the various cost accounting models used as tools for managerial decision making with particular reference to model that are particular and applicable to the Nigeria Bottling Company Plc, Ilorin Branch been the case study for this project research, which will emphasis on their operation for 5 years, i.e. (1998 – 2002) as well as its various branches all over the federation.

1.7 limitation 

Due to time and financial constraints this research study would be limited to the NIGERIA BOTTLING COMPANY PLC, ILORIN    and is hoped that any findings of the research would be applicable to other branches of the company and the bottling industry in general.

1.8 study plan

This project work is based on the important of cost account models as a tool for managerial decision making (A case study of Nigeria Bottling Company Plc, Ilorin).

The researcher believes that the result of their study will highlight the importance of cost accounting and costing as a crucial tools used in decision making by the management in achieving their main motive of minimizing cost and maximizing profits. It will be study under five different chapters.

Chapter one, throw light on the general introduction of the research study which is the background of the study, the objectives and motives of carrying out the research programmes, the significance of the study, statement of research problems, research questions scope of the study definition of key terms and finally, the limitations and problems encountered in carrying out the research programme.

Chapter two, contains review of the related literature.

Theoretical framework, appraisal of literature review.    

Chapter three, is basically on the explanation on the historical profile of the case study, research hypothesis, data specification, methods used in gathering information i.e. data collection population and sample size, sampling techniques and finally, method of data analysis.

Chapter four, throws light on the discussion of the analysis, hypothesis testing and discussion of findings.

Chapter five, is the summary of the finding that is, the conclusion and recommendation of the study and suggestion for further study.

The researcher believes that this project will be useful as a basic of analysis the importance of costing and cost accounting to the management and the organisation.


The under listed terms has been defined to suit the context of this writing in order to avoids certain misconception that may arise. 

a. Cost: This is amount of expenditure incurred on or attributable to a specified thing or activity and at the simplest level. A cost is determined by two components “the quantity and the price”.

b. Cost unit: As defined by ICMA is a “quantitative unit product or service in relation to which cost are ascertained” whether costing is carried out, the focus is to determine the cost unit of the product or the service.

c. Cost allocation: This is the charging of discrete and identification of item of cost centres of cost unit. It is the allotment of whole item of cost to centre or cost unit that is responsible for its authorization. 

d. Cost Ascertainment: This is the identification of the right or appropriate cost unit or cost centre where an expenses has been incurred for proper costing activity without ambiguity. 

For example if the total salary per month of the staff in a factory is N60,000 out of this what it cost to pay the nurses salary may be N20,000 or the word cleaners may receive N10,000 and doctors receives N25,000.

e. Cost Absorption: This refers to cost that has been accumulated in a cost centre by either allocation or appointment and are absorbed into cost unit.

f. Cost Apportionment: This is the process of sharing a commonly incurred expenses proportionately where two or more cost centre are involved, based on the amount of benefit each cost centre derived from it.

g. Cost control: This is an act of making necessary adjustment after comparing the actual cost with a standard or targeted cost. Where the actual exceeds the targeted cost a reduction in cost may become necessary.

h. Costing Centre: As defined in the terminology, it is a location person or items of equipment in respect of which cost unit for control purpose.

i. Cost Codes: As defined by ICMA is a “System of symbols designed to be applied to a classified set of item to gives a brief accurate reference facilitating entry, collation and analysis”. Such symbols may be mainly series of numbers or alphabets or mixture of both. 

j. Fixed cost: This is a cost, which does not change with the change in the level of activity. It remains static over a period of time, unaffected by variations in the volume of production.      

k. Variable cost: This is a cost which changes in line with the changes in the level of activity. Any increase or decrease in the volume of production results in a proportionate change in cost. 




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