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Abstract

This study examines the Importance of Accounting Information in improving profitability in Tele-communication Industry. The main objective of this research is to determine the importance of accounting information to management of business organization, to find out the effect of wrong Accounting Information in organizational performance and to ascertain the impact of Accounting Information on profitability of telecommunication companies. The methodology used in this research work was primary and secondary sources of data. Primary source of data were through interviews and questionnaires distributed among senior and junior staff of he Industry containing ten (10) questions and secondary data were from text-books, journals, news papers and magazines. During the research work, the researcher found out that ineffective and improper handling of Accounting Information adversely affect business organization and its management. The researcher through the findings recommend that the Accountant should ensure that proper Accounting records are kept and also ensure that Accounting information or transaction are accurately and timely updated.  

CHAPTER ONE

1.00                                        INTRODUCTION

1.01   GENERAL DESCRIPTION OF THE AREA OF STUDY

          According to Uche (2005), Accounting information could be defined as a systematic way of keeping records in order to update financial information about business using different types of information system or medium found suitable to the business organization.

From this definition, one would reason with me that the word systematic means an orderly arrangement of information and the word update means all the necessary information needed should be available at all time. However, the information system adopted by different organization in serving the purpose today has actually developed from manual system and gradually into mechanical and electronic or computerized system. As we know that during the era of low level of technology, most business organization were fully engaged in the use of manual system which involves the service of the clerks using pen or pencil and papers in recording transaction and maintenance of the record which is very important in making decision.

But as time went on, their arisen improvement in this level of technology and it was found that tedious work involves in the use of manual system could be removed by inventing and introducing electronic system that could handle such task in a more economical, time saving and accurate system which could provide a complete information to the business organization at a particular point in time example is computer system which employed the service of the clerk, card or tape and information will remain there until it is needed for retrieval.

 

THIS STUDY IS STRUCTURED AS FOLLOWS:

  • Definition of accounting information
  • Importance of accounting information to business management
  • Definition of profitability
  • Importance of accounting information to improve profitability

 

 1.02   HISTORY OF CASE STUDY

          According to Wikipedia, mobile telecommunication Nigeria (MTN) Plc Enugu zone is part of the MTN group, Africa leading cellular telecommunication company. MTN became inco-operated on February 9th 2001, were the license was gotten through Nigeria communication. After the inco-operation, MTN kicked off its business activities and on may 16th 2001, they became the first Global System Mobile (GSM) to make a call in Nigeria. After the company launched fully, commercial operation began with Lagos, Port-Harcourt and Abuja. MNT (Mobile Telecommunication Nigeria) Enugu has steadily develop it’s service in 223 cities and twons more than 10,000 villages and communities.

It is also recorded by Wikipedia that MTN has remained the Nigeria number one in telecommunication since 2001 till date and that it has also made tremendous impact in the life of the citizen of Nigeria. Many villages and communities are being connected to the word of telecommunication as the time went on. MTN Plc Enugu recently expended its network capacity to include a new numbering  range with the prefix 0806, MTN the first GSM network in Nigeria to have adopted an additional number of range in its resolved to enhance quality customer service. It has also produced self-help still free 151 customers care line, through which subscribers can restore and frequently ask question for change.

The organizational organigram of MTN is a divisional in nature which relies on standardization of output. MTN has 7 value creating functional areas as shown below.

 

 

 

Zonal

 

ORGANIZATIONAL CHART

The chart above did not show all the workers in MTN Nigeria but it showed the most topest executive because MTN has many branches or zones and workers. The Board of Director in MTN is also called Chief Executives Officer (CEO). From inception February 2001, MTN Nigeria had the capital amounted to 285 million of USD (United State of America Dollar) which they invested in purchasing of license to help them operate in Nigeria.

According to Wikipedia, MTN Nigeria as at 2014 Dec, made the profit amounted to N746 trillion. MTN Nigeria Plc Enugu over riding mission is to work hard and support MTN Nigeria to became the Nigeria catalyst in economic growth and development through the provision of world class communication and innovation, sustainable corporative society  responsibility and initiative.

 

1.03   STATEMENT OF THE PROBLEM

          The major problem of MTN zonal offices are poor and improper Accounting information which has given rise to poor decision making, poor planning, poor organization and control of business activities with consequential unsatisfactory service to staff.

According to Fredrick (2005), another long existing problem facing business managers are decision making are what to do at particular point in time due to poor flow of information needed by the managers is what the researchers intend to look into and fine solution to such problem.

 

1.04   OBJECTIVE OF THE STUDY

          The major objective of this study is to makes users to be familiar with Accounting information necessary for effective and efficient decision making so that its result will impact profitability in telecommunication industry. Specifically, the objective of the study includes the following.

  • To determine the importance of Accounting information to management of business organization.
  • To find out the effect of wrong Accounting information in organizational performance.
  • To ascertain the impact of Accounting information in the profitability of telecommunication compound in Nigeria.

1.05   RELEVANT RESEARCH QUESTION  

          In the course of this study, the researcher took time to ask the following questions.

  • What are the importance of Accounting information to management of business organization.
  • What are the effect of wrong Accounting information in organizational performance.
  • What are the impact of Accounting information in the profitability of telecommunication company.

 

1.06   DELIMITATION (SCOPE) OF THE STUDY

          The research is focused mainly on the importance of accounting information to improve profitability in telecommunication industry in Nigeria with MTN Plc Enugu state as a case study. The research will hence research on how MTN Enugu branch gets their Accounting information and how it has bring profitability to industry. There is problem to obtain sufficient information from their office due to what is known as official secret.

1.07   ASSUMPTION

It was assumed that the management and staff of MTN zoal office Enugu branch would co-operative with the research in giving information necessary or needed in the course of the research to make acceptable finding. It was also assumed that all the questionnaire administered in the course of this research will be filled correctly and returned for easy documentation and report. The supervisor was also expected to provide the researcher with the necessary guideline required to complete the research successfully

 

1.08   SIGNIFICANCE OF THE STUDY

1)      The study will make organization to recognize the need for keeping sound record which will provide sound Accounting information to improve profitability.

2)      The study will in addition increase the researcher’s volume of knowledge on Accounting information.

3)      This project will likewise serve as a reference point for future researcher, government and school management at large.

1.09   DEFINITION OF UNFAMILIAR TERMS /CONCEPT

Accounting Information: This can be defined as the process of recording, classifying, reporting and interpreting the financial data of an organization into a useful statistical data that can be abstracted and summarized in accounting record.

Relevance: This is the process of making difference in decision making process, information must be processes predictive value or feed back value. It must be relevance and reliable.

Financial Statement: This is a statement that shows the presentation is summary of asset and liabilities in a well arranged from so that the financial position my be clearly ascertained.

Timeliness: for an effective decision to be made a good information is to be made available to the user.

Reliability:         This is the extent to which information is verifiable, representation faithful and neutral.

Representation Faithfulness: This means that while taking or making decision in an organization, the information on inventory in financial statement should be well understood by external users for effective decision making.

Comparability:  Before the management of an organization runs into decision making, the Accounting information provided should be compared across different companies to know whether it is in line with accounting standard.

Profitability: Is the ability to sell goods and services above cost and earn reasonable return on capital.

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