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The study investigated the relationship between information & communication technology systems and Management Accounting Practices of quoted manufacturing companies in Nigeria within the period of 2010 -2019. The specific objectives were to investigate the relationship between Management Information System (MIS) and Costing Management Method (CMM); and Budgeting Management Method of quoted manufacturing companies in Nigeria, and investigate the relationship between Decision Support System (DSS) and Costing Management Method (CMM); and Budgeting management method. Nomothetic and idiographic Philosophy was adopted while a cross-sectional survey was employed. The population of the study was thirteen (13) companies quoted in Nigerian Exchange as of September 2020 in the industrial goods manufacturing sub sector. The unit population was the staff from departments such as Finance and Accounts, Procurements, Operations, and Information and communication Technology (ICT) departments, focusing on top management, middle management and functional management levels. Using purposive sampling technique seven (7) of the quoted companies were chosen for the study. 84 copies of questionnaire were used for data gathering. Descriptive statistics and Spearman’s Rank Order Correlation Coefficient, statistics was used for data analysis. The result of the study shows that management information system has a very strong and significant relationship with costing management method and budgeting management method of quoted industrial goods manufacturing companies in Nigeria; Decision support system has a very strong and significant relationship with costing management method and budgeting management method as well. The study concluded that information & communication technology system has a very strong relationship with management accounting practices of manufacturing companies in Nigeria. The study recommends among others that industrial goods manufacturing companies should be encouraged to go fully computerized thereby changing from the traditional management accounting systems to the contemporary systems, this way they would be able to compete with other businesses globally given the trend in globalisation and computerization of operations in this contemporary times. Also they should focus on the development of Decision support systems since this system is very useful for the strategic managers in modelling and forecasting for easy decision making. This would enable them make strategic decisions in the company quickly. |
