THE ROLE OF COST ACCOUNTING FOR GOVERNMENT AGENCIES AND PUBLIC SERVICES
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Abstract: THE ROLE OF COST ACCOUNTING FOR GOVERNMENT AGENCIES AND PUBLIC SERVICES
This research explores the role of cost accounting in managing government agencies and public services in Abuja. The study's objectives are to assess how cost accounting supports financial management, evaluate its impact on cost control, and identify the challenges faced. A survey design was employed, gathering data from 250 financial managers and accountants in government agencies, derived using Taro Yamane's formula. A case study of a major government agency in Abuja provided detailed insights. The reliability coefficient score was 0.87. Findings indicate that cost accounting plays a crucial role in managing government agencies and public services 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 government accountants, simplifying regulatory requirements, and integrating cost accounting with overall financial management practices to enhance performance.
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