EFFECT OF ACCOUNTING INFORMATION SYSTEM ON FINANCIAL PERFORMANCE OF FIRMS: A CASE STUDY OF GOLDEN GUINEA BREWERIES, UMUAHIA, ABIA STATE, NIGERIA

This study assessed of effective accounting information on business decision with Golden Guinea as a case study. Survey design was adopted. Data were collected from questionnaire. The sample size was 52 covering internal auditors, accountants, sales representative, finance and supervisors at Golden Guinea in Umuahia Responses were analysed using simple frequency and percentage. Furthermore, regression analysis was used to test the stated hypotheses and findings revealed as follows: Accounting information is a significant tool for management in business decisions at Golden Guinea; Accounting information significantly provides timely and accurate financial information for investment decisions at Golden Guinea. Accounting information helps management to assess the performance of First Bank of Nigeria; Accounting information helps management to assess the performance of First Bank of Nigeria; and Accounting information has improved effectively the basic roles of cost minimization, proper allocation of scarce resources and improvement in the production. This study concluded that accounting information and its reporting is a significant tool for management decision at Golden Guinea. Based on the findings, it recommended that there should be clear-cut definition of long-term firm’s objective, within which the accounting information system will operate. As such costing, inventory and distribution policies should be defined by the management to enable effective utilization of accounting information by the finance officers. Qualified accountants should be employed by management of Golden Guinea to keep and monitor cost records and make recommendations on the best ways for accounting management practices.