Description
The impact of cost control on the profitability of manufacturing firms – case study of Nigerian Breweries Plc, Aba.
Abstract
This study is on the impact of cost control on the profitability of manufacturing firms, using Nigerian Breweries Plc Aba as a case study. Cost control is a management device used to keep cash within the planned limit. Cost control is involved with activity on controlling costs associated with an activity, process of the company. Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgetary process. The objective of this research study is to highlight/identify some cost control measures available in manufacturing firms and in Nigerian Breweries Plc Aba in particular and to ascertain the relationship existing between cost control and profitability. Descriptive survey research design were adopted. Data were collected using questionnaires, oral interviews and observations, journals, newspapers etc. In treating and analyzing the data collected, extensive use of tabular information and percentages was of great importance. It was found out from the analysis made that cost control is a means of achieving the primary objective of profit maximization. Findings also show that there exist a very strong relationship between cost control and profitability. Based on findings, the researcher recommends that the company should continue to maintain the good relationship that exist between cost control and profitability in the company and management should ensure that seminars and workshops are conducted for staff and workers to improve their skills on the methods of applying cost control techniques.
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