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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Cost accounting practice in the informal sector of Nigeria (a survey of eastern business zone)
Authors:Obara, Lawyer C.ISNI
Ukpai, Ndukwe A.ISNI
Periodical:African Administrative Studies
Geographic term:Nigeria
Subjects:informal sector
small enterprises
Abstract:Cost accounting is a veritable tool in the management of any organization including those in the informal sector. The authors conducted a survey among 150 artisans in the informal sector in Nnewi, Aba and Port Harcourt, which represent the industrial centres of the eastern zone of Nigeria. The results of the survey indicated the maintenance of improper and inadequate records coupled with the fact that the costing methods used, though sometimes effective, were unconventional. The authors suggest that informal businesses would approach profit maximization levels if effective cost control procedures were established and appropriate books of accounts installed. Although artisans in the informal sector may be unable to afford the employment of qualified and experienced accountants, they could still benefit from the services of such professionals through consultancy or part-time arrangements. Bibliogr., sum. (An earlier version of this article was published in: Indian Journal of African Studies, vol. 10, no. 1/2 (1999), p. 99-113.)