Impact Of Cost Control Measures And Techniques On Corporate Cost Standard (A Case Study Of Guinness Nigeria Breweries Plc)

ABSTRACT

 Corporate organizations face common problems, which include excessive cost of production and unpredictable nature of future costs rates and events. Due to these, there is needed to find better ways of managing and controlling this excessive cost especially in manufacturing firms. The research study was carried out to identify and appraise the cost control techniques and standard to effect a successful control of cost. The methodology for gathering the data used includes the collection of data through the use of questionnaire, textbooks, personal interview, and examination of annual accounts. After analyzing the data gathered, the research was able to ascertain that the basic concept of cost control is understood and that cost control can be achieve with such techniques as responsibility accounting, budgeting, and variance analysis. The research therefore recommends that management of manufacturing firms and especially that of Guinness Nigeria Plc, to foster the proper utilization of production capacity, increase sales volume, encouragement of staff participation in the company activities in order to directly or indirectly reduce cost.