APPRAISING THE IMPACT OF COSTING TECHNIQUES ON PROFITABILITY
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The dynamic nature of our times has put so much on business that their survival can no longer be taken for granted but must be sort for. That a business strength progressed or outpaced its competitors depends largely on the quality and strength of its management. People always make enquires pertaining to the issues that arouse their interests-How, where, when, how and what it will cost to get the necessary information, that will aid the attainment of the organizational goals. In all human transactions, we do talk of cost almost each minute of the day. All our daily expenses are been resolved in terms of cost-what cost, how cheap, how costly.In our offices we passively talk of cost savings, cost of materials, overhead service cost, labor cost and many others. In an economist’s point of view, we visually hear the same song-marginal cost, opportunity cost, cost curve, total cost and what else? The above submissions attempt to suggest that cost perhaps is a most important concept in our every day lives and most diversely conceived. Hence, the objective of every business organization is charged with both financial and non-financial objectives, which drive them towards the actualization of their set organizational goals
