THE ROLE OF COST ACCOUNTING IN RISK MANAGEMENT IN LOAN DISBURSEMENT
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Abstract: THE ROLE OF COST ACCOUNTING IN RISK MANAGEMENT IN LOAN DISBURSEMENT
This study investigates the role of cost accounting in risk management for loan disbursement in the banking sector in Lagos. The objectives are to analyze how cost accounting supports risk management, evaluate its impact on loan performance, and identify the challenges faced. A survey design was employed, with data collected from 200 financial managers and loan officers, derived using Taro Yamane's formula. A case study of a leading bank in Lagos provided comprehensive insights. The reliability coefficient score was 0.88. Findings reveal that cost accounting plays a crucial role in risk management by providing detailed cost information and facilitating better decision-making. However, challenges such as data collection difficulties and compliance issues were noted. Recommendations include providing more training for financial managers on cost accounting and risk management, simplifying data collection processes, and integrating cost accounting with overall risk management practices to enhance loan performance.
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