The Imperatives of Sustainability Management Accounting System (SMAS) For Developing Country: The case of Nigeria.
Journal Title: Scholars Journal of Economics, Business and Management - Year 2015, Vol 2, Issue 7
Abstract
Abstract: This research study is set out to determine the imperatives for Sustainability Management Accounting System ( SMAS) implementation across manufacturing organisations in Developing Countries . The researcher adopted the descriptive survey research design. Primary data were obtained from questionnaire administered to six categories of top management staff of manufacturing companies listed on the Nigerian Stock Exchange (NSE). The data generated from the study were analysed using tables, histograms, frequencies, percentages, means scores and standard deviations. The impact of Sustainability Management Accounting System (SMAS) on Firm Performance as stated in the formulated hypotheses was tested with Linear Regression and One – Way Analysis Of Variance (ANOVA). Our findings revealed that Management Accounting System built on sustainability principles lead to a more accurate identification of environmental and social cost that are not adequately included in the traditional management accounting system. Consequent upon this, SMAS provides more detailed product cost information for proper pricing of products and control purposes in a cyclical environment. He concluded that accurate identification of cost by adoption of SMAS will help in proper internal decision making. Based on the above, the researcher recommended, among others, that manufacturing firms should holistically adopt SMAS in order to enhance performance and gain competitive advantage over other competitors operating within the same industry. Accountants in the manufacturing firms should be adequately exposed to the good and wide knowledge of SMAS through seminars, workshops and conferences; the Nigerian government under her vision 2020 should introduce environmentally sound and sustainable development as two main factors in social, cultural and economic progress and enhancement of quality of life of Nigerians. Keywords: Sustainability Management Accounting System, manufacturing organizations, survey,
Authors and Affiliations
Ogbodo, Okenwa Cy
Keywords
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