THE ROLE OF COST ACCOUNTING FOR ENVIRONMENTAL REMEDIATION PROJECTS
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Abstract: THE ROLE OF COST ACCOUNTING FOR ENVIRONMENTAL REMEDIATION PROJECTS
This study investigates the role of cost accounting in managing environmental remediation projects in Port Harcourt. The objectives are to assess how cost accounting supports project management, evaluate its impact on financial performance, and identify the challenges faced. A survey design was employed, gathering data from 200 project managers and financial controllers, derived using Taro Yamane's formula. A case study of a major environmental remediation project in Port Harcourt provided detailed insights. The reliability coefficient score was 0.87. Findings indicate that cost accounting plays a crucial role in managing environmental remediation projects by providing detailed cost information and facilitating better resource allocation. However, challenges such as complex regulatory requirements and data collection difficulties were noted. Recommendations include providing more training for project managers on cost accounting, simplifying regulatory compliance processes, and integrating cost accounting with overall project management practices to enhance project success.
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