Abstract:
This research explores the relevance of activity-based costing (ABC) in modern business environments in Lagos State, Nigeria. The objectives are to: (1) assess the impact of ABC on cost accuracy and allocation, (2) evaluate its influence on pricing and profitability analysis, and (3) analyze the challenges of implementing ABC in contemporary businesses. A survey design was employed to gather data from financial managers and accountants. The sample size, determined using Taro Yamane's formula, ensures statistical significance. Nestlé Nigeria Plc was chosen as the case study due to its adoption of ABC practices. The reliability coefficient score of the survey was 0.91. Findings reveal that ABC significantly improves cost accuracy and allocation, positively influencing pricing and profitability analysis. However, implementation challenges such as complexity and resource requirements were identified. It is recommended that companies in Lagos State adopt ABC practices to enhance cost management and profitability, while addressing implementation challenges through training and resource allocation.
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