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Effect of Cost Accounting Management Practice on Financial Performance of Public Sugar Manufacturing Firms in Lake Region Economic Block Kenya

Author

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  • Colletah, Kerubo Okenyoru
  • Alala, Ondiek Benedict
  • Tibbs, Charles

Abstract

Purpose: The overall objective of this study was to investigate the effect of cost accounting management practice on financial performance of Public Sugar Manufacturing firms in Lake Region Economic Block, Kenya. The study was guided by accountability theoryMethodology/Approach: The study used causal research design .Target population of 143 comprising of accountants, auditors and managers. This study sampled 98 respondents constituting of management accountants, auditors and general managers. Stratified random sampling technique was used. This study used questionnaires for primary data collecting. Secondary data was sought for firm size and financial performance for 2018-2022 financial years from published financial statements through secondary data collection tool.Findings: Data analysis was done using descriptive statistics thus frequencies and percentages and inferential statistics thus Pearson correlation and simple linear regression analysis. Data was presented using tables. The study found significant effect (t-statistic=7.324, p-value=0.000< 0.05) of cost accounting management practice on financial performance. This led to rejection of the null hypothesis.Implications: Public Sugar Manufacturing firms in Lake Region Economic Block should practice standard costing, target costing, activity based costing and life cycle costing measures so as to improve cost accounting management practice

Suggested Citation

  • Colletah, Kerubo Okenyoru & Alala, Ondiek Benedict & Tibbs, Charles, 2024. "Effect of Cost Accounting Management Practice on Financial Performance of Public Sugar Manufacturing Firms in Lake Region Economic Block Kenya," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 10(2), pages 297-306, June.
    • Handle: RePEc:src:jafeec:v:10:y:2024:i:2:p:297-306
    DOI: http://doi.org/10.26710/jafee.v10i2.3042
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