THE ROLE OF COST ACCOUNTING IN THE AGRICULTURAL AND FOOD INDUSTRY
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Abstract: THE ROLE OF COST ACCOUNTING IN THE AGRICULTURAL AND FOOD INDUSTRY
This study investigates the role of cost accounting in the agricultural and food industry in Kano. The objectives are to analyze how cost accounting supports financial management, assess its impact on cost control, and identify the challenges faced. A survey design was employed, with data collected from 200 financial managers and accountants in agricultural and food companies, derived using Taro Yamane's formula. A case study of a leading agricultural company in Kano provided comprehensive insights. The reliability coefficient score was 0.87. Findings reveal that cost accounting plays a crucial role in financial management by providing detailed cost information and facilitating better decision-making. However, challenges such as complex regulations and data collection difficulties were noted. Recommendations include providing more training for accountants in the agricultural sector, simplifying regulatory requirements, and integrating cost accounting with overall financial management practices to enhance performance.
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