Impact of cost control and cost reduction system on the profitability of an organization Department: Accountancy By: ultimeight Project ID: 2917 Rating: (3.3) votes: 6Rate this project12345 Price:₦2000 Get the Complete MaterialAbstractThe theme of this study considered the impact of cost control and cost reduction on the profitability of an organization (a case of Atlantic Carpet Nig. Ibadan). In the management set- up, cost control is used as an indispensable tool, which aid the organization to attain their organization objectives of profit maximization. This study reveals the cost structure in manufacturing type, cost control adopted to minimize waste of resources. Critically, the opinions of those that occupy the key positions of the organization such as the chief accountant, the logistic manager, technical officers, etc were sorted and it was of immense help to this study. For the achievement of the objectives of this research, data were collected by the use of oral interviews and questionnaires. Data collected were subjected through analysis using simple percentage, frequency and histogram distribution while the stated hypothesis was tested using chi-square (X2) to ascertain its reliability and objectivity. The result of the research shows that the organizations adopt cost control measures and this control accords management the opportunity to achieve organizational performance and profitability. The management should emphasize more on the training of employees on the application and measures of cost control and enlighten them on the relationship, which exists between cost control and profitability. Finally, the organization should try an embrace the technological and economic trends in the society in order to have a vital edge over its profitability. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Auditing in Nigeria companies, problems and prospects»The effects of computerized accounting system on the performance of banking industry in Nigeria»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»Effect of misrepresentation of information in a financial statement»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )