The poultry industry as the largest employer of labour in the organised private sector and contributes 25% to Nigeria GDP. Previous studies had not adequately been able to integrate the process of capturing performance of poultry business using the balanced scorecard performance pillars. Thus, this study examined the impact of financial re-engineering on corporate performance and the sub-variables of the poultry business in Nigeria. The study used survey research. 4,324 active farmers and major stakeholders in the poultry industry from Nigeria’s six geopolitical zones made up the study’s population. The Taro Yamane sample size formula was used to determine the sample size of 450 with a response rate of 84%. The range of the constructs’ Cronbach’s alpha reliability coefficients was 0.87 to 0.95. The data were analyzed using descriptive and inferential (multiple regression) analysis with a 5% level of significance. The findings revealed that all financial re-engineering proxies had a significant effect on financial performance (Adj. R2= 0.535, F(5,379) = 87.901, p < 0.05).The study concluded that the study concluded that financial re-engineering has significant effect on financial performance of the poultry business while the lag in the adoption of modern technology including the usage of artificial intelligence and robotics reflected in sub-optimal performance which need be focused for effective asset utilisation. The study recommended the introduction of standards that will aid the starting point of using financial results to drive the business and make credit availability easier in support of various government and non-governmental aids and grants.
Dada, S.O., Akintoye, I.R. and Alawode, O.P. (2023) Financial Re-Engineering and Financial Performance of Poultry Business in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.11, No. 4, pp.60-86
Overview of Management Accounting Techniques (Published)
In every organization, management must plan, organize, guide, motivate, evaluate and control. The main role of management accounting is to support managers inside the organization in forecasting as well as monitoring the present and past performance, measures and reports financial and non-financial information as well as other types of information on the monthly basis or more frequent depending on organization in the relevance for specific management decisions and control system, that are intended primarily to assist managers in fulfilling the goals of the organization. In this paper, the researcher aims to review some of the modern management accounting techniques, their definitions, process, advantages, and benefits.
The article considers theoretical aspects of the applied strategic financial analysis based on the financial element of the balanced scorecard to be applied in the research process of the strategic organization financial activity aspects. The methodology of the research is the Balanced Scorecard concept (BSC) introduced by R. Kaplan and D. Norton as well as the concept of the applied strategic analysis concept having been developed by the author, and the methodological approach to the target forecast of the organization financial flows resulting from the results of its financial position analysis. The applied strategic financial analysis is depicted to encompass comparative assessment, variances diagnostics and indicators forecast of the financial BSC element within the strategic financial goals. The author draws a conclusion that the applied strategic financial analysis is a sufficiently effective instrument to research strategic aspects of the organization financial activity and to form an analytical support for its strategic financial management.