THE IMPACT OF STANDARD COSTING ON PROFITABILITY AND MANAGERIAL EFFECTIVENESS OF A MANUFACTURING INDUSTRY (A CASE STUDY OF FERDINAND INDUSTRIES LIMITED, URULLA IDEATO NORTH LOCAL GOVERNMENT AR

ABSTRACT The impact of standard costing on profitability and managerial effectiveness of a manufacturing industry.  The standard cost reveals the goals, spur actions, and provide check or controls such that exceptional profit oriented goal performance can be achieved and on the reverse, adequate punishment to be exercised for bad performance.  Standard costs cause appraised to be made over production facilities and from management intentions and capabilities and is a first step in strength and weakness appraisal. There also led to the preference of standard costing to other methods with the development of standard of standard costing system in 1920s, it was brought into the accounting system that total variances might be accumulated as well as detailed variances. It is believed that standard costing helps management to plan for future, and if any justification is required for this project on the effects of standard costing on profitability’s and managerial effectiveness of a manufacturing industries. Firstly, the financial management should penetrate into every cranny of the enterprise and indoctrinate all management in their working habits.  Secondly, cost should be given the maximum attention while emphasis on the effects. Finally, since revenue less cost gives balance profit, the profit should be increase as it is what industry is aiming at.
TABLE OF CONTENTSTitle pageApproval pageDedicationAcknowledgementTable of contentsAbstract
CHAPTER ONE:  INTRODUCTION1.1Brief Historical of the Case under study1.2Statement of the problem1.3Purpose of the study1.4Significance of the study1.5Scope of the study1.6Limitation of the study1.7Assumption of the study1.8Research Hypothesis1.9Definition of termsReferences
CHAPTER TWO2.1Standard Costing and Overview2.1.1Characteristics of Standard Costing2.1.2Misconception of standard costing2.1.3Criticism of standard costing2.1.4Advantages of standard costing2.1.5Disadvantages of standard costing2.2Essential features of standard costing2.2.1Standard Cost Card2.2.2Type of Standard2.2.3Setting standard 2.2.4Revision of Standard2.3Accounting Variance2.4Controllable and Uncontrollable Variance2.5Favourable and Unfavourable Variance2.6Areas Standard Costing helps in improving management efficiencyReferences
CHAPTER THREE3.0Design and Methodology3.1Selection of Data3.1.1Primary Data3.1.2Secondary Data3.2Collection of Data
3.3Tools of data Analysis3.4Reliability of data
CHAPTER FOUR:4.0Data presentation and analysis4.1Presentation of data4.2Analysis of data4.3Testing Hypothesis4.4Interpretation of result
CHAPTER FIVE:5.0Summary of findings5.1Summaries of findings5.2Conclusion from the study 5.3RecommendationReferencesBibliographyAppendices